Biltmore Financial Group, Inc., J. V. Huffman, Jr., Defendants, and Gilda Bolick Huffman, Relief Defendant
     

The Securities and Exchange Commission ("Commission") announced that on November 12, 2008, it filed a Complaint For Injunctive Relief ("Complaint") in the United States District Court for the Western District of North Carolina, alleging an unregistered offering of securities and fraudulent conduct by defendants J. V. Huffman, Jr. ("Huffman") of Claremont, North Carolina, and Biltmore Financial Group, Inc. ("Biltmore"), a North Carolina corporation controlled by Huffman. The Complaint also seeks to recover property transferred to relief defendant Gilda Bolick Huffman ("G. Huffman"), Huffman's wife. The Honorable Richard L. Voorhees, United States District Judge for the Western District of North Carolina, issued orders freezing the assets of the defendants and relief defendants, appointing a receiver for the defendants, and permanently enjoining the defendants from future violations of the registration and antifraud provisions of the federal securities laws.
     

http://www.sec.gov/litigation/litreleases/2008/lr20807.htm