Charges: Ex-regent claimed university would pay debt for him

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Atlanta (AP) – A member of the Georgia Board of Regents and former lawmaker has been charged with defrauding a financial company, including a false claim the University of Georgia would pay a $488,000 debt he owed.

Attorney General Chris Carr announced Clarence Dean Alford’s charges on Thursday. Spokeswoman Katie Byrd says Alford is turning himself in. The Conyers resident abruptly resigned from the board overseeing Georgia’s public universities.

Carr says Alford is charged with racketeering and theft for trying to falsify financial transactions with Versant Funding LLC. Carr says Alford claimed he had rights to the income streams of various businesses, trying to sell them to Versant for nearly $1.8 million.

Alford is also accused of faking a document claiming the University of Georgia would pay Versant $488,000 to cover a debt owed to Alford’s company.

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