Raleigh, North Carolina – In a shocking case of financial deceit, Joseph Floyd, a 76-year-old business owner from Whiteville, North Carolina, was sentenced to 42 months in federal prison for conspiring to sell and deliver unregistered securities in connection with a multi-million-dollar Ponzi scheme.
Floyd was also ordered to pay over $10 million in restitution to the victims of the offense, underscoring the devastating impact of his actions on innocent individuals.
The scheme, which operated for nearly a decade, was disguised as a purported investment program. Floyd’s victims were lured in by promises of high returns on their investments, only to see their savings dwindle as the scheme unraveled.
Floyd’s case is just one of several high-profile white-collar crimes in the Eastern District of North Carolina in recent years. The U.S. Attorney’s Office has made a concerted effort to strengthen its relationships with federal and state law enforcement agencies, leading to a surge in investigations and prosecutions.
In 2023, the Eastern District of North Carolina saw a number of significant white-collar cases, including the sentencing of Raleigh ENT Doctor Anita Louise Jackson to 300 months in prison for adulterating surgical devices, defrauding Medicare, and stealing patient identities. Jackson was ordered to forfeit $4.7 million.
Other notable cases include the sentencing of Raleigh man Furman Ford to 17 years in prison for healthcare fraud, and the guilty plea of NCDOC Officer Sean Dillard to a Covid-19 fraud scheme, resulting in a one-year prison sentence.
The U.S. Attorney’s Office is committed to holding individuals accountable for their actions and protecting the public from financial predators like Floyd.
Floyd’s sentence serves as a reminder that white-collar crime will not be tolerated, and those who engage in such activities will face severe consequences.
Defendant Information:
Defendant: Joseph Floyd
City and State: Whiteville, North Carolina
Exact Date: Not specified
Sentence or Outcome: 42 months in federal prison, $10 million in restitution
Case Number: 7:23-CR-1-B
Related Federal Cases
- Joseph W. Floyd, IV and William F. Floyd, Jr., Ponzi Scheme, North Carolina 2023 · North Carolina
- Flythe, Tax Evasion, North Carolina 2023 · North Carolina
- Michael Rowan, Investment Advisor Embezzlement, North Carolina 2024 · North Carolina
- Michael Alexander Crowell, Raw Sewage Pollution, North Carolina 2023 · North Carolina
- Charles Vincent Brown, Credit Card Fraud, North Carolina 2024 · Washington
Key Facts
- State: North Carolina
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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