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November 20, 2015

Posted  January 28, 2016

The SEC announced fraud charges and an asset freeze obtained against Atlanta-based business man Christopher Brogdon, accused of misusing investor funds to purchase and renovate senior living facilities.  The SEC alleges that Brogdon amassed nearly $190 million through dozens of municipal bond offerings and private placement offerings in which investors supposedly earned interest from revenues generated by the nursing home, assisted living facilities, or retirement community project supported by their investment.  But Brogdon commingled the accounts instead of using the funds to finance the project described in the disclosure documents for each offering.  From the commingled accounts, he diverted investor money to other business ventures and personal expenses.  SEC

Tagged in: Securities Fraud,