CLEVELAND, Sept. 20, 2017 /PRNewswire/ -- On September 15, 2017, Christopher Brogdon ("Brogdon") and his wife Connie Brogdon filed a voluntary petition under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Georgia. Brogdon is currently the target of an SEC action filed in November 2015. According to the SEC, Brogdon put together a string of municipal bond and private offerings over a period of years that claimed to raise money for investments in nursing, assisted living, and retirement facilities. Instead of using investor proceeds from the Brogdon bond offerings for the purposes for which they were intended, Brogdon allegedly conducted a scheme whereby he diverted a portion of the proceeds to either pay for his and his wife's lavish lifestyles or to prop up the scheme. Also, contrary to the stated use of proceeds in the offering materials, Brogdon allegedly commingled investor funds, and used the commingled investor funds in part to make Ponzi-like payments to investors in other Brogdon bond offerings.
Subsequently to being charged by the SEC, Brogdon agreed to a Court-approved Plan to pay back investors. The impact of the Brogdon bankruptcy on that Plan is uncertain at this time.
The Peiffer Rosca Wolf and Goldman Scarlato & Penny law firms filed a lawsuit in August 2016 to recover money lost by investors in connection with investments in the municipal bond scheme offered and sold 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, those bonds' underwriters, and the underwriters' principals. The lawsuit seeks to redress harm suffered by investors as a result of the trustee and the underwriters' alleged misconduct, and it is currently pending in the United States District Court for the District of New Jersey.
If you invested in municipal bonds offered and sold by Christopher Brogdon and wish to obtain additional information about our case or would like to discuss your rights, please visit www.brogdoninvestors.com and complete the contact form on the website. You may also contact the investor rights lawyers at Peiffer Rosca Wolf or Goldman Scarlato & Penny to discuss this matter. You can contact Peiffer Rosca Wolf attorneys Alan Rosca or James Booker via email at firstname.lastname@example.org or email@example.com, or via phone at 888-998-0520 or 216-589-9280. You can contact Goldman Scarlato & Penny attorney Paul Scarlato via email at firstname.lastname@example.org or via phone at 888-872-6975 or 484-342-0700.
Attorney advertising. Paid for by the Peiffer Rosca Wolf and Goldman Scarlato & Penny law firms. Attorneys Alan Rosca, James Booker, and Paul Scarlato are responsible for this release. Please visit our respective websites, www.securitieslitigators.com and www.lawgsp.com, for important disclosures, office locations, and lawyer admissions. Peiffer Rosca Wolf Abdullah Carr & Kane, APLC ("Peiffer Rosca Wolf") and Goldman Scarlato & Penny P.C. ("Goldman Scarlato & Penny").
Contact: Alan Rosca, 216-589-9280
SOURCE Peiffer Rosca Wolf