Executive's lifestyle under scrutiny as duped investors wait for money
An Atlanta Journal-Constitution reporter interviewed company co-founder Jim Wilkes for an investigative piece on nursing home magnate Christopher Brogdon. The story explains how the Securities and Exchange Commission is investigating Brogdon for fraud, claiming he owes $89 million to investors - many of them retirees. Brogdon used the money to fund his lavish lifestyle, spending $100,000 a month on the family budget.
Brogdon is no stranger to Wilkes & McHugh, as he and his various nursing home corporations have been the target of numerous lawsuits, including one filed in 2018 accusing a bank of enabling him to carry out a massive health care scheme. Brogdon's victims include retirees who lost life savings to his investment plots, as well as residents of his poorly-run nursing homes and assisted living facilities who suffered poor care.
"He is a con man who cheats investors at the expense of assisted living and nursing home residents," Mr. Wilkes told the AJC reporter. "He's got a history that goes back 30 years."
Read the complete story here.