- Last Updated on 12:00 AM 07/09/10
- BY Staff
A 52-year-old North Carolina man has been arrested on two felony charges involving an alleged investment scheme, according to South Boston Police Investigator R. E. Redd.
Gene Edison Lawson of King was charged with two felony counts of obtaining money by false pretenses, the investigator said.
Redd said he arrested Lawson Thursday on warrants sworn to by South Boston Police Investigator C. L. Carswell. One of the offenses allegedly occurred on Dec. 12 of last year, and the other allegedly occurred between Jan. 22 and Feb. 17, Redd said.
The warrants allege that on each offense, Lawson fraudulently obtained more than $200 from victims as a type of investment with the promise of a phenomenal rate of return on the investment, Redd explained. He said the return rate was as much as double the amount that was invested.
Lawson was being held Thursday in the Halifax Adult Detention Center under a $50,000 secured bond, Redd said.
Additional charges for similar offenses are expected to be placed against Lawson pending further investigation, he added.