Georgia Judge Sentences Alford to 8 Years in Prison for Fraudulent Factoring Scheme

Clarence Dean Alford, a former member of the Georgia Board of Regents who was indicted on charges of racketeering, criminal attempt, computer forgery and forgery in the second degree in May, pleaded guilty to racketeering before Chief Superior Court Judge Robert F. Mumford last week.

According to a press release, Mumford sentenced Alford to eight years in prison followed by seven years of probation.

The original indictment alleged that Alford attempted to earn $1.7 million by selling $2.2 million worth of fake accounts receivable as part of a fraudulent factoring scheme.

The indictment furthers alleged that Alford, while serving as a member of the Georgia Board of Regents, created fake documents as proof that state agencies owed his company money and that he also forged state employee signatures on contracts and other documents. Alford resigned from the Georgia Board of Regents in October of 2019.