RALEIGH — The state Securities Division on Friday arrested Michael Anthony Jenkins, 56, on securities fraud charges that he had bilked two Florida men and one from Texas in a Ponzi scheme that he admitted in February to running.
Agents from the division -- part of the Secretary of State’s office -- said in an affidavit filed in court at the time that Jenkins, of 2512 Gregmoor Court in Raleigh, reported to the division that he became overwhelmed by his business, Harbor Light Asset Management, and stopped trading with money given to him by investors. He also admitted he did not have a state or federal license to trade in commodities, the affidavit said.
In arrest warrants that they served on Jenkins at the division office Friday morning, they charged that a man from Texas and two from Florida lost “more than $100,000” each in various schemes in which they say Jenkins used some of the men’s money to pay off previous investors and kept some for himself.
In one warrant, they charged that Jenkins took money from the man who lived in Iraan, Texas, to invest in “e-mini futures.”
A second warrant charged that one of the Florida men gave Jenkins money to invest in commodities contracts. A third warrant charges he took the third man’s money, saying he would deposit it in an account and use it to trade in “S&P 500 E-mini contracts.”
Both of the Florida men live in Wauchula, the warrants said.
Jenkins was being held Friday on a $500,000 bond on all the charges.