NC man arrested in Virginia for multimillion-dollar fraud
Posted 5:09 p.m. Wednesday
RALEIGH, N.C. — Federal authorities say a hearing will be held next week in Virginia for a North Carolina man accused of promising to invest millions of dollars in U.S. Treasury bills and instead using the money for risky trades and personal expenses.
In a news release Wednesday, the U.S. Justice Department said 60-year-old Treyton Lee Thomas' victims included his wife and father-in-law.
Thomas is charged with bank fraud, wire fraud and money laundering. He appeared Wednesday before a federal magistrate judge in Charlottesville, Virginia.
The indictment charges that Thomas defrauded his father's business, NC&VA Warranty of Roxboro. It says he lost more than $4.5 million and spent more than $1.6 million for personal expenses.
A hearing will be held Monday on prosecutors' motion for pretrial detention.