ATLANTA — Former Board of Regents member Dean Alford has been indicted on charges of racketeering, computer forgery and more by the Prosecution Division of the Office of Attorney General. The indictments were returned Tuesday in Rockdale County Superior Court.

“Acts of fraud and corruption have no place in Georgia’s state government,” said Deputy Attorney General for the Prosecution Division John Fowler. “Those who are trusted to be public servants must discharge their duties ethically and honestly, and when they do not, this office and our law enforcement partners will hold them accountable.”

Alford, a long-time Conyers resident, allegedly exploited a common industry practice known as “factoring.” Factoring is a financial transaction in which a business may sell its accounts receivable to a third party at a discount. The alleged goal of Alford’s scheme was to obtain approximately $1.7 million by selling fake accounts receivable invoices valued at approximately $2.2 million. As part of his scheme, Alford allegedly created fake invoices, contracts and other documents to show that his company was owed money from state agencies. He also allegedly forged the signatures of state employees on those contracts and other documents.

Alford was, at the time, a member of the State Board of Regents representing Georgia’s Fourth Congressional District, and he allegedly used that position to further his fraud schemes. The Board of Regents is the body with the responsibility of overseeing the University System of Georgia. Alford resigned from the Board of Regents in October of 2019.

Alford faces the following charges and potential sentences:

♦ Racketeering: Five-20 years, and/or fine up to $25,000

♦ Criminal attempt to commit theft by taking of a value exceeding $25,000: One-10 years and/or fine up to $50,000

♦ Computer forgery: One-15 years, and/or fine up to $50,000

♦ Forgery in the second degree: One-5 years and fine up to $100,000

This case is the product of a joint investigation by the Office of the Attorney General’s Public Integrity and White Collar Crimes Section and the Georgia Bureau of Investigation. The University System of Georgia and the Florida Department of Law Enforcement assisted in the joint investigation.

Alford also faces charges from the Securities and Exchange Commission that he defrauded about 100 investors in his now-bankrupt energy development company.

According to the SEC’s complaint, Alford fraudulently raised at least $23 million on behalf of his company, Allied Energy Services LLC, from 2017 to 2019, promising investors a high rate of return. Instead, the scheme collapsed when Alford could not make the payments.

A civil suit filed by the investors was settled in April through negotiations, with Alford reportedly agreeing to pay nearly $10.8 million.

Alford, a prominent Conyers businessman who also served in the General Assembly, is well known in the Rockdale County community as co-founder of the Miracle League, a baseball league for children with disabilities. The first Miracle League was developed in Conyers and the program has expanded across North America.

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Editor

I have been editor of the Rockdale Citizen since 1996 and editor of the Newton Citizen since it began publication in 2004. I am also currently executive editor of the Clayton News Daily, Henry Daily Herald and Jackson Progress-Argus.

(1) comment

Dan Turner

Dean had the option NOT to do any of the items in the counts now before him along with losing more than half of the investments by those that gave him their trust. He abused his status in order to gain trust that led to bad moves...but most especially allowing his investors to suffer.

No different than Bernie Madoff. He used his notoriety, investment acumen and smooth talk to the losses into the $$Billions. It's a sad statement of facts in each of the counts...but facts nonetheless.

Not unlike hang gliding...flying that high is great until you fall to the ground. In this case he took a lot of people along for that ride.

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