The Atlanta Journal-Constitution
DEALS INCLUDED IN COURT ORDER
Christopher Brogdon raised money to buy or renovate nursing homes, assisted living and retirement communities through bond offerings approved by local government authorities in several states. Brokers sold the bonds to investors with promises of relatively high interest payments that would not be taxed. Brogdon also secured financing through other high-return securities marketed to investors. But the Securities and Exchange Commission said Brogdon deceived investors, comingling money that was supposed to be dedicated to specific projects and diverting funds to other business ventures and to family accounts. Now, he is under a court order to pay investors the interest and principal owed in 13 bond deals and six private placement offerings:
■ 1992: Bonds for Liberty Manor and Midway nursing home authorized by Liberty County Industrial Authority.
■ 1997: Bonds for Summers Landing Vidalia assisted living by Toombs County Development Authority.
■ 2000: Bonds for Hartley Woods Healthcare Center nursing home in Macon authorized by Development Authority of Bibb County.
■ 2002: Bonds for Pine Lawn Manor nursing home and Red Hills Healthcare Center nursing home in Illinois authorized by City of Sumner, Illinois.
■ 2010: Promissory notes for Summers Landing Tilly Mill, a personal care home in Georgia by Tilly Mill Assisted Living.
■ 2010 Certificates of Participation to acquire Richland Pines assisted living and independent living, Columbia, S.C., by Polo Road Assisted Living.
■ 2010: Bonds for an assisted living facility in Alabama by Medical Clinic Board of City of Montgomery.
■ 2011: Certificates of Participation for retirement community in Highlands, N.C., by Chestnut Independent Living & Highlands Assisted Living.
■ 2011: Certificates of Participation issued to acquire five nursing homes in Oklahoma by Oklahoma Operating LLC.
■ 2011: Certificates of Participation in Bonds for senior townhome development by Chelsea Investments.
■ Sept. 2012: Bonds for
Gordon Oaks independent living facility by Medical Clinic Board of City of Mobile.
■ Nov. 2012: Additional bonds for Gordon Oaks by Medical Clinic Board of City of Mobile.
■ 2013: Certificates of Participation in bonds for Bayberry Trace in Jonesboro and Shadowmoss to Shawnee Rose Care Center exchange by Chelsea Investments.
■ 2013: Bonds for a Cochran nursing home by Bleckley-Cochran Development Authority.
■ 2013: Certificates of Participation by Arcadia Partners for senior townhome development.
■ 2013: Bonds for Byromville nursing home by Crisp-Dooly Joint Development Authority.
■ 2013: Membership interests in McCloud Nursing Center, Harrah Nursing Center and Meeker Nursing Center in Oklahoma by Harrah, McCloud and Meeker Property Holdings.
■ 2013: Bonds for Gordon Oaks Nursing Home by Medical Clinic Board of City of Mobile.
■ 2013: Bonds for Providence of Thomaston Health and Rehabilitation Center by ThomastonUpson Co. Industrial Development Authority.