SALISBURY – A Salisbury man who created an illegal Ponzi scheme and scammed people and institutions out of an estimated $2.3 million is now in jail.
Knox Bridges was considered on the run by police after failing to show up for sentencing in federal court on Friday. As part of a plea agreement, Bridges pleaded guilty to money laundering and securities fraud.
Bridges was a one time member of the North Carolina Transportation Museum Foundation. He is accused of taking hundreds of thousands from that board while a member.
After failing to appear in court on Friday, a judge issued an order to Bridges arrest. Salisbury Police considered him “armed and dangerous,” believing he may have posed to a danger to himself.
On Saturday night a member of the Maupin Avenue Presbyterian Church spotted a car in the church parking that he thought belonged to Bridges. Police responded and did find Bridges in the church bathroom. Bridges was armed, but did surrender peacefully after about fifteen minutes, according to police.
Bridges is now being held without bond on a charge of failure to appear. Under the terms of the original plea agreement, Bridges may have had to face about six years in prison, but but failing to appear, the terms of the agreement became void, and he now faces up to thirty years in federal custody.