Christopher Brogdon and his wife filed a Chapter 11 voluntary bankruptcy petition on September 15, 2017 in the United States Bankruptcy Court for the Northern District of Georgia.
Brogdon has been sued by the SEC for securities fraud in November 2015, and has taken the Fifth in response to the SEC’s questions regarding his involvement in a series of municipal bonds he allegedly orchestrated. The SEC’s case is currently pending in New Jersey federal court.
In its complaint, the SEC has alleged that Brogdon orchestrated numerous municipal bond offerings and private placements for many years, and assured his investors that their money would be used to purchase and operate nursing, assisted living, and retirement facilities. However, Brogdon allegedly organized a scheme whereby he diverted a portion of the investor money to pay for his and his family’s lavish lifestyles and/or to prop up his fraudulent investment scheme. Also, Brogdon commingled investor funds and used their money in part to make Ponzi-like payments to investors in other Brogdon bond offerings, in violation of the bond offering documents’ assurances regarding the intended use of investor proceeds, the SEC alleged.
Brogdon subsequently agreed to a Court-approved plan to repay his investors. However, the recently-filed bankruptcy raises additional concerns regarding the repayment of Brogdon’s investors.
In August 2016, the Peiffer Wolf Carr & Kane investor rights law firm filed a class action lawsuit to try and recover any money lost by investors in the allegedly fraudulent municipal bond scheme orchestrated by Christopher Brogdon. The lawsuit was filed on behalf of a class of investors in several Brogdon bonds against the trustee bank for the majority of the Brogdon bonds, the bonds’ underwriters, and the underwriters’ principals. The Peiffer Wolf Carr & Kane lawyers seeks compensation on behalf of victimized Brogdon investors and is currently pending in the United States District Court for the District of New Jersey.
If you invested in municipal bonds offered by Christopher Brogdon, please contact the investor right lawyers at Peiffer Wolf Carr & Kane, Jason Kane or James Booker, to provide information and/or for a free, no-obligation discuss about your rights and legal options, via email at firstname.lastname@example.org or email@example.com, or via phone at 216-589-9280.