THE
SECURITIES AND EXCHANGE COMMISSION HAS CHARGED ATLANTA-BASED
BUSINESSMAN CHRISTOPHER BROGDON OF MISUSING INVESTOR FUNDS
RAISED TO BUY AND RENOVATE SENIOR LIVING FACILITIES—ONE OF
THEM PROVIDENCE HEALTH CARE 1011 SOUTH GREEN STREET IN
THOMASTON.
THE
FEDERAL GOVERNMENT CLAIMS BROGDON AMASSED NEARLY $190 MILLION
THROUGH DOZENS OF MUNICIPAL BOND AND PRIVATE PLACEMENT
OFFERINGS IN WHICH INVESTORS SUPPOSEDLY EARN INTEREST FROM
REVENUES GENERATED BY THE SENIOR LIVING FACILITIES BUT BROGDON
SECRETLY COMMINGLED INVESTOR FUNDS INSTEAD OF USING THE
MONEY TO FINANCE THE PROJECT DESCRIBED TO INVESTORS.
THE
THOMASTON-UPSON INDUSTRIAL DEVELOPMENT AUTHORITY SERVED AS THE
ISSUER OF $8.9 MILLION IN BONDS TO GORDON JENSON
HEALTHCARE ASSOCIATION—A NON-PROFIT ORGANIZATION , TO
PURCHASE PROVIDENCE HEALTH CARE.
ACCORDING
TO A PRESS RELEASE FROM THE IDA—THE AUTHORITY, THE CITY
OF THOMASTON, AND UPSON COUNTY ARE NOT FINANCIALLY
RESPONSIBLE FOR REPLAYMENT OF THE BONDS , BUT THE IDA IS
MONITORING THE SITUATION AS IT DEVELOPS.
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