STANFORD - Mayor Eddie Carter had reason to celebrate this weekend, about 55,000 reasons. Carter won his personal civil suit against accused investment schemer Janssen D. Willhoit on Friday for $55,000, the amount of Carter's original investment, plus attorney's fees.
Willhoit was arrested in June on multiple charges of theft by deception over $300 and multiple counts of committing fraudulent acts pertaining to securities for reportedly luring investors to his false investment company, Net City. He had reportedly promised high interest rates and guaranteed affiliation with National City Bank and several legitimate financial protection companies.
Three Stanford residents invested, but Carter, who had invested as a citizen, uncovered the alleged scam when he called National City Bank and found his given account number was false.
Willhoit was indicted by a Lincoln County grand jury in August on investment scam charges. Arraignment has been scheduled for 10 a.m. Sept. 10.