10 Sep Brogdon Municipal Bond – Related Lawsuit Filed by Peiffer Wolf Lawyers on Behalf of Investors
Christopher Brogdon investors represented by the Peiffer Wolf securities lawyers have filed a new lawsuit to recover money they invested in municipal bonds offered and sold by Christopher Brogdon.
The Brogdon Bond investor lawsuit was filed against a financial institution and two underwriters for the Brogdon bonds that, according to the allegations in the complaint, assisted and facilitated the Brogdon bond program.
Chris Brogdon Accused of Fraud by the Securities and Exchange Commission
Brogdon is the target of an action by the SEC filed in November 2015. According to the SEC case, Brogdon put together a string of municipal bond and private placement offerings over a period of years that claimed to raise money for investments in nursing, assisted living, and retirement facilities. The offering documents for the Brogdon bonds represented that companies controlled by Brogdon would manage the facilities. Those Brogdon-controlled companies would also be responsible for disbursing the investor money raised through the offerings in accordance with the terms of the Brogdon bond offering materials.
Instead of using investor proceeds from the Brogdon bond offerings for the purposes 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 scheme. Also, contrary to the stated use of proceeds in the offering materials, Brogdon commingled investor funds, and used the commingled investor funds in part to make Ponzi-like payments to investors in other Brogdon bond offerings.
Brogdon was named as a defendant in the SEC action, and was charged with operating a fraudulent scheme. He “took the Fifth” while questioned under oath about his program and refused to further answer questions.
Brogdon Bond Investor Options – What Investors May Do
The Peiffer Wolf lawsuit seeks to redress harm that may have been suffered by Brogdon Bond investors through the assistance of those third party financial service organizations that allegedly facilitated the Brogdon bond programs.
The Peiffer Wolf investor right lawyers represent investors across the country in cases arising out of investment fraud or investment-related misconduct. They typically take cases on a contingency fee basis and only get paid for their fees and case expenses if and when they recover money for their clients.
Brogdon bond investors who have questions about the new lawsuit may contact the Peiffer Wolf attorneys Joe Peiffer or James Booker at 216-589-9280 or via email at j[email protected] for more information about this case or a free, no-obligation evaluation of their recovery options.