Atlanta to Seek Funds Lost to Investment Scheme

Hume, Lynn; DeSue, Tedra
June 2003
Bond Buyer;6/30/2003, Vol. 345 Issue 31667, p5
Trade Publication
Atlanta, Georgia plans to try to recoup the money it lost as a result of an investment fraud scheme involving the former broker-dealer Pryor, McClendon Counts& Co. and Theresa A. Stanford, the city's former investment officer, Frances Johnson, the interim director of the city's employee benefits bureau, said on June 27, 2003. Johnson could not elaborate further. But the Securities and Exchange Commission claimed that the city lost about $15.3 million from the investment fraud scheme in enforcement documents issued Thursday in connection with a settlement of charges against Raymond J. McClendon, a former principal of the firm, and Stanford, who was the city's investment adviser from 1983 through June 1994.


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