Georgia Office of the Attorney General Indicts Alford for Fraudulent Factoring Scheme

The prosecution division of the Georgia Office of the Attorney General indicted Clarence Dean Alford, a former member of the Georgia Board of Regents, on charges of racketeering, criminal attempt, computer forgery and forgery in the second degree, according to a press release. The Rockdale County Superior Court returned the indictment on May 4.

"Acts of fraud and corruption have no place in Georgia’s state government,” John Fowler, deputy attorney general for the prosecution division, said. “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.”

The indictment alleges 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 alleges 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.

If convicted, Alford could face up to 50 years in prison and/or $225,000 in fines based on the associated penalties for each charge as outlined by the press release from the Georgia Office of the Attorney General.

This case is the product of a joint investigation by the Georgia 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 investigation.