Atlanta Discount Home Deals accused of shady business dealings in Georgia
ATLANTA - Georgia Secretary of State and Commissioner of Securities Brad Raffensperger has issued an emergency order against Atlanta Discount Home Deals (ADHD) and its founder, Mark Jackson, following allegations of unregistered securities offerings, fraudulent investment schemes, and misappropriation of funds. The order immediately restricts their operations, imposes significant penalties, and bans them from registering as securities dealers in Georgia.
Fraudulent Real Estate Scheme Uncovered
What we know:
An extensive investigation revealed that ADHD and Jackson sold over $4 million in unregistered promissory notes between 2018 and 2024. These notes were claimed to be secured by real estate properties in Georgia, Maryland, Florida, and Puerto Rico. However, investigators found that the properties were either not owned by ADHD or did not exist as described.
What they're saying:
"This order underscores our commitment to protecting Georgia’s investors from fraudulent get-rich-quick schemes," said Secretary Raffensperger. "Fraud has no place in Georgia, and we use every available resource to keep it that way."
Key Findings
The investigation highlighted several allegations, including:
- Selling unregistered securities without proper filings.
- Misrepresenting ownership of properties supposedly securing investments.
- Fraudulent claims about property acquisitions and renovations that never occurred.
- Mismanagement and potential misappropriation of investor funds.
Penalties and Further Action
What's next:
The emergency order imposes a $500,000 civil penalty on ADHD and Jackson, along with reimbursement to taxpayers for investigative costs. It also bans them from operating in Georgia or violating the state’s Securities Act. Jackson’s whereabouts remain unknown, and he is subject to an ongoing investigation.
Call for Information
What you can do:
The Secretary of State’s office is encouraging anyone who may have been affected by ADHD or Mark Jackson’s actions to come forward with information. Raffensperger reaffirmed his office’s dedication to safeguarding Georgia’s investors and holding those responsible for financial misconduct accountable.