Back To Top Skip to main content
Home

Call Us

  • About Us
    • Our Attorneys
    • Contingency-Fee Litigation
    • Verdicts and Settlements
    • Client Testimonials
    • Our Offices
  • Practice Areas
    • Practice Areas
    • Breach of Contract Litigation
    • Construction Litigation
    • Employment Litigation
    • Professional Malpractice
      • Accountant Malpractice
      • Legal Malpractice
      • Engineering Malpractice
  • Attorney Referrals
    • Referral FAQs
    • Send a Referral
    • View Our Brochure
  • News
  • FAQs
  • Contact Us
  • Locations
  • Practice Areas
  • About Us
  • Contact Us
© 2025 Business Trial Group

515 North Flagler Drive., Suite 2125, West Palm Beach, Florida 33401

877 667 4265 Call us 24/7
promissory-note

BTG Investigates Georgia State Legislator’s $23 Million Ponzi Scheme

Investor Alerts
August 12, 2020

Morgan & Morgan’s securities attorneys are investigating an alleged $23 million Ponzi scheme involving former Georgia state legislator Clarence Dean Alford.  The SEC has charged Alford with defrauding about 100 investors in Allied Energy Services LLC, his energy development company that today is bankrupt.

The SEC alleges that Alford raised $23 million from investors by selling promissory notes that he fraudulently guaranteed would generate high returns. The SEC alleges that Alford misrepresented Allied as a thriving business, when in fact it wasn’t.  The SEC further claims that Alford misrepresented that investor moneys would finance energy projects.  Instead, the SEC alleges that Alford used most of the moneys to pay prior investors. The SEC also alleges that Alford used investor funds to build a home costing several million dollars.

The SEC claims that the scheme unraveled in 2019, as Alford could not make principal and interest payments to several investors.

The SEC alleges that Alford targeted mostly Indian-American professionals with his scheme.

Justin Jeffries, Associate Regional Director for the SEC’s Atlanta Regional Office, stated: “As alleged in our complaint, Alford was a prominent member of the community who misled retail investors for personal gain.  Investors should be wary whenever they are promised guaranteed, lucrative investment opportunities.”

Alford has agreed to enter into a consent judgment finding that he violated federal securities laws’ anti-fraud provisions.  Alford further agreed that the court may determine the amounts of penalties, disgorgement, and interest he will be required to pay at a future date after the SEC files an appropriate motion.  

If you have suffered losses relating to Alford’s alleged fraud involving Allied, we are here to help.  Contact us at (888) 874-9075 today to speak with an experienced securities attorney at Morgan & Morgan’s Business Trial Group.

The Business Trial Group at Morgan & Morgan helps investors recover their losses on a contingency basis.  We are only paid if we successfully recover money for you.  We have helped investors recover tens of millions of dollars of investment losses.

The Business Trial Group is part of the largest contingency law firm in the nation, with over 700 lawyers and offices across the country.

Free Case Evaluation

Tell us about your situation so we can get started fighting for you. We tailor each case to meet our clients' needs.

Recent news

Morgan & Morgan wins $2.6 Million FINRA Arbitration Award Against Robert W. Baird & Co.

November 15, 2023

Morgan & Morgan wins $840,000 Jury Verdict for Sotheby’s Real Estate Brokerage

August 7, 2023

Business Trial Group Wins Victory Affirming Widow’s Right to Inherit Husband’s Estate

January 19, 2022

BTG Files Lawsuit on Behalf of Caregiver Alleging Failure to Pay for Years of Around-the-Clock In-Home Care

August 31, 2021

FINRA’s New Rule Limits Brokers From Being Named as Customers’ Beneficiaries

November 16, 2020
 
lexisnexis-logo

Need A Business Litigation Lawyer? Contact Us

Offices in all 50 states

Your local office

Backed by the resources of one of the nation’s largest plaintiffs’ law firm, the Business Trial Group handles cases in Florida and throughout the country. Though Morgan & Morgan has over offices in all 50 states, you do not have to live near one of our locations to benefit from our service.

Click to view

703 Waterford Way, Suite 1050,
Miami, FL 33126

(305) 929-1900
Find nearest office View all offices
Business Trial Group | Contingency-Fee Lawyers
877.667.4265
24 hours / 7 days a week. Se habla español.
Morgan & Morgan Lawyers | America's Largest Personal Injury Law Firm

Business Trial Group

Contigency Free Litigation

  • About Us
  • Our Offices
  • Client Testimonials
  • Contact Us
  • FAQs

Practice Areas

  • Construction Litigation
  • Employment Litigation
  • Professional Malpractice

Referrals

  • Attorney Referrals
  • Our Brochure

Legal

  • Disclaimer & Terms of Use
  • Privacy Policy
© 2025 Business Trial Group

515 North Flagler Drive., Suite 2125, West Palm Beach, Florida 33401

Call Us

Free Case Evaluation

 

Sidebar image block

lexisnexis-logo

Other areas

Breach of Contract Litigation
Business Tort Litigation
Construction Litigation
Defamation Litigation
Employment Litigation
Intellectual Property Litigation
Professional Malpractice
Probate, Trust & Estate Litigation
Securities and Stockbroker Fraud
Unpaid Commissions and Compensation

Why Clients Trust Us

“The Morgan & Morgan Business Trial Group handled my case against a major security company. I was amazed at the amount I received in the lawsuit. Not only was their research for the case very thorough, their concern for me and all those involved with the case was heartwarming and set me at ease.”
- N.D.
“I obtained excellent service, and my attorneys did everything possible to promptly resolve my case. The lawyers who helped me, Benjamin Webster and Arletys Rodriguez, are excellent professionals with infinite human quality.”
- C.F.
“The Morgan & Morgan Business Trial Group helped our family get through a rough time in representing us on a breach of an oral contract. Our group of lawyers, William and Arletys, were highly professional, knowledgeable, caring, reliable, and very compassionate with all of us, especially to our 92-year-old father.”
- de la Paz family
“I want to express my sincere appreciation for representing me in a case against my debtors. Not only were you successful in obtaining an equitable judgment on my behalf, but it was done is such a manner that made it affordable … even for me!”
- B.M.
“I had to reread the documentation to make sure it was not a dream. I cannot thank you enough for handling this to a full-payment settlement. You did a fantastic job in a ridiculous situation.”
- C.S.