Christopher Brogdon Investor Alert: Brogdon Bankruptcy Filing
Christopher Brogdon, the organizer of several municipal bond offerings accused of fraud by the Securities and Exchange Commission in 2015, filed a bankruptcy petition on September 15, 2017 in the United States Bankruptcy Court for the Northern District of Georgia. He sought that the bankruptcy be maintained under Ch. 11 of the Bankruptcy Code.
Brogdon has been sued by the SEC for securities fraud in November 2015, and invoked his privilege not to testify under the Fifth Amendment, during a deposition with SEC lawyers and while being asked about the muni bond investment programs he allegedly organized. The Commission’s case is pending in New Jersey federal district court.
The SEC accused Brogdon of perpetrating many offerings of securities in the form of municipal bond offerings and private placements and raising money from investors under false pretenses. Brogdon told his investors that their investments would be used for nursing homes and assisted living and retirement facilities, when in reality he diverted some of the money to finance his exorbitant lifestyle and used other proceeds to make Ponzi-like transfers to investors in other Brogdon bond offerings, the SEC alleged.
In the SEC’s case, the Court ordered Brogdon to abide by a repayment plan to pay back his investors. Brogdon’s recently-filed bankruptcy petition raises additional concerns regarding the repayment of his investors.
The investor right lawyers at Peiffer Wolf filed a class action lawsuit in August 2016 on behalf of a group of Brogdon bond investors, seeking compensation for any money those investors lost as a result of their Brogdon muni bond investments. The focus of the lawsuit is upon a bank that acted as a trustee for numerous bond offerings orchestrated by Brogdon, as well as on two underwriters who helped promote the Brogdon bonds, and their respective principals. The Peiffer Wolf lawsuit is alleging that those entities assisted in the perpetration of Brogdon’s bond offerings with knowledge of improprieties, and/or that they were negligent in assisting Brogdon’s offerings, in violation of their duties. The Peiffer Wolf lawyers seek compensation on behalf of victimized Brogdon investors. Their case is currently pending in the United States District Court for the District of New Jersey.
Investors in Brogdon-orchestrated securities offerings, either muni bonds or private placements, are encouraged to contact the securities lawyers at Peiffer Wolf, Joe Peiffer or James Booker, to provide information and/or for a free, no-obligation discuss about your rights and legal options, via email at email@example.com or firstname.lastname@example.org, or via phone at 504-523-2434 or 216-589-9280.