The former University System of Georgia regent who used his position and Augusta s landfill to further an alleged scam has been indicted on racketeering and forgery charges brought by the Georgia attorney general.
Clarence Dean Alford, an engineer and former state legislator, negotiated with Augusta officials for several years to build a $68 million waste-to-energy plant at the landfill that never materialized.
Doing business as Allied Energy, Alford said the Augusta Waste-to-Energy facility would convert garbage to biodiesel pellets, and investors sank millions into the scheme and others involving solar.
Alford resigned from the board of regents in 2019 after being charged with racketeering and theft. Last month, the Securities and Exchange Commission entered a $10 million judgment against him for bilking investors.
A former member of the University System of Georgia Board of Regents was indicted Tuesday for racketeering in connection with a scheme to defraud investors.
Former Georgia state lawmaker indicted for financial fraud Follow Us
Question of the Day
By JEFF AMY - Associated Press - Tuesday, May 4, 2021
ATLANTA (AP) - Former Georgia state lawmaker and university regent Dean Alford has been indicted on racketeering, fraud and forgery charges relating to allegations that he faked contracts while seeking money from a financial company.
Tuesday’s indictment in Rockdale County follows Alford‘s original arrest on the charges in October 2019. Katie Byrd, a spokesperson for Georgia Attorney General Chris Carr, said it took time to investigate Alford‘s acts, and the judicial system was delayed due to the pandemic.
Former lawmaker must pay more than $10 million in fraud case
April 9, 2021 GMT
ATLANTA (AP) A lawyer for a former state lawmaker and Georgia Board of Regents member says his client has been ordered to pay nearly $10.8 million after being accused of running what authorities called a Ponzi scheme.
Dean Alford of Conyers resolved the matter through a negotiated settlement, his lawyer, Walter Jospin, told The Atlanta Journal-Constitution. U.S. District Court Judge Thomas Thrash signed the order last week.
U.S. Securities and Exchange officials said that Alford owned an energy firm and sold promissory notes to investors many of them in the Columbus, Georgia, area and guaranteed high annual rates of return.
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