U.S. marshals arrested John Natale Michelotti of Clemmons, North Carolina for a fraud that bilked victims of over $200,000. Michelotti is charged with obtaining property by false pretense and two counts of securities fraud, according to the U.S. Marshals Service in a press release.
The North Carolina Secretary of State’s office took out warrants against Michelotti in Surry and Davidson counties in March. The agency alleges that between February 2006 and March 2010, Michelotti used a company called White Investments to entice people into investing with him. One victim invested $25,000. Another victim lost $170,000 as part of a real estate scam.
The Secretary of State believes Michelotti used the money from his fake companies to start a window and door company in Greensboro.
The U.S. Marshals Joint Fugitive Task Force searched for Michelotti for months until they saw him in a car in Greensboro. They arrested him without incident.
If you or someone you know has lost money as a result of an investment or Ponzi scheme, please contact Richard Frankowski at 888-741-7503 to discuss your potential legal remedies or complete the contact form.