Local News

Authorities Continue To Investigate Cumberland Fraud Cases

Posted October 15, 2003

— As authorities continue to investigate a businessman accused of embezzlement, some of his victims claim they are out thousands of dollars.

Anthony Allen is accused of embezzling millions from senior citizens. Investigators say Allen used his business savvy to trick them out of their money.

Wain Cox will not say how much he invested through Allen to get a higher interest rate on his savings, but he admits he probably will not get his money back.

"He could sell ice cream to an Eskimo, so he talked me into it because he was a pretty good talker," Cox said.

Many people, including Cox, plan to sue Allen. They claim Allen conned them out of their money. One woman said the total amount of money she lost topped $355,000. Two other couples say their losses, combined, are in excess of $800,000.

"He did his job too good. He milked us all out of what he could get," he said.

Investigators say Allen had close to 3,000 clients among his various businesses. There is no word yet on how many of them may have lost their money.

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