Home Scam/Fraud Racketeering charges bring former USG regent Alford 15 year sentence

Racketeering charges bring former USG regent Alford 15 year sentence

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Dean Alford, a former member of the University System of Georgia Board of Regents who was involved with several proposed energy projects in Augusta, pleaded guilty to racketeering Thursday and was sentenced to eight years in prison.

Alford who resigned from the Board of Regents in 2019, admitted he took part in a scheme in which he sold fake accounts receivable invoices. In a common business practice known as “factoring,” businesses may sell their accounts receivable to a third party at a discount. The goal of the scheme was to obtain approximately $1.7 million by selling fake accounts receivable invoices valued at about $2.2 million.

More:Former GA Regent, Augusta ‘waste-to-energy’ consultant, indicted in racketeering, forgery

Also: Regent, Augusta energy consultant charged with racketeering, theft

As part of the scheme, Alford created fake invoices, contracts, and other documents to show that his now-bankrupt energy development…

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