Christopher Brogdon municipal bond programs are the subject of an investor lawsuit by Goldman Scarlato & Penny, P.C. Brogdon orchestrated a series of municipal bond offerings that purported to raise money for investments in nursing homes, assisted living facilities, and/or retirement housing throughout the United States. Brogdon-controlled companies managed the facilities, and were responsible for disbursing the investor money raised through the bond offerings.
The SEC filed a lawsuit against Brogdon in November 2015 and charged Brogdon with operating a fraudulent scheme. According to the SEC lawsuit, instead of using investor funds from a particular Brogdon bond offering for the facility for which they were intended, Brogdon diverted a portion of the proceeds to either pay for his and his wife’s lavish lifestyles, or to prop up the Brogdon scheme. Also, contrary to the “use of proceeds” provisions in the Brogdon bond offerings, Brogdon commingled funds raised from investors, and used the commingled funds in part to make Ponzi-like payments to other Brogdon bond offering investors. The SEC action is subject to a Court-approved Plan whereby Brogdon has promised to repay investors.
The GSP lawsuit was filed on behalf of investors in Brogdon municipal bonds and seeks to recover losses incurred by those investors. GSP lawyers often represent investors who lose money as a result of alleged investment schemes. Christopher Brogdon and his bond offerings are continuing to be investigated by the GSP lawyers.
Investors who believe they lost money as a result of their investments in bond programs offered by Christopher Brogdon may contact Paul Scarlato by email at [email protected] or by phone at 484-342-0700 to discuss your options. Or, if you have information that might help the case, we are interested in talking to you as well.
