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'Credit Doctor of NC' pleads guilty to fraud

Posted May 5, 2011
Updated May 6, 2011

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— A man who called himself "the credit doctor of North Carolina" pleaded guilty in federal court Thursday to nine counts of an original 74-count indictment that accused him of millions of dollars of financial fraud.

The U.S. Attorney's Office in Raleigh said James Walter Goddard, 40, of Wilmington, pleaded guilty to three counts each of wire fraud and money laundering and one count each of bank fraud, obstruction of justice and aggravated identity theft.

Prosecutors said that Goddard gathered information from clients seeking his help to obtain credit and then submitted hundreds of false applications for credit cards and lines of credit. Clients expected him to open one or two accounts in their names, but he would open 10 to 20 accounts and use the extra ones himself, prosecutors said. He charged clients a 15 percent fee for the accounts he secured in their name and told them about.

That indictment claimed he caused more than $4 million in credit application and wire fraud and he laundered $950,000 in merchant payments to his accounts.

Goodard faces up to 30 years in prison on the bank fraud charge; 20 years on each charge of wire fraud, money laundering and obstruction of justice; and two years on the aggravated identity theft charge.

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  • Rebelyell55 May 6, 2011

    "Ah yessss, there a sucker born every minute".

  • LetsGetHigh May 6, 2011

    will you pay my bills since you got such a good handle on your bills, all that money you got

  • shoyaryt May 6, 2011

    There is NEVER an "easy fix" to debt... gotta' make those payments (big or small) until it's gone.

  • whatelseisnew May 6, 2011

    The worst part is, people do not need these kind of places to deal with their problems. They are just too lazy to spend the effort to learn about what they need to do and to understand what legal rights they have when it comes to handling debt issues.