Ga. Real Estate CEO Admits Duping Investors Out Of $1.6M

Law360 (April 13, 2021, 12:42 PM EDT) -- An Atlanta real estate business owner admitted in a Georgia federal court on Tuesday that he repeatedly lied about his companies' assets and contracts in order to dupe more than a dozen investors out of about $1.6 million.

Richard J. Randolph III, 40, pled guilty to a single count of securities fraud in the Northern District of Georgia. He had previously pled not guilty and waived indictment when first charged at the beginning of April, but subsequently accepted a plea agreement with the federal government, U.S. District Judge Steven D. Grimberg said.

Randolph agreed to pay back the $1.6 million as...

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