Charles Wooden, 48, Stone Mountain, Georgia, was sentenced to seven years in prison to be followed by three years of supervised release, and to pay restitution of $2.4 million. Hendrickx H. Toussaint, 44, a now disbarred lawyer, Decatur, Georgia, was sentenced to three years, ten months in prison to be followed by three years of supervised release, and to pay restitution of $1.2 million. The sentenced arise out of a real estate-based Ponzi scheme that took in almost $5 million dollars from out-of-state and foreign investors.
According to U.S. Attorney John Horn, the charges, and other information presented in court: In or about 2009, Charles Wooden, doing business as Aeon Capital Management, LLC, held himself out to the public as a real estate broker who could locate and oversee the purchase of residential properties and apartment buildings for or on behalf of real estate investors. Wooden purported to find properties that could be flipped in a short period for a profit, and also properties that he would manage for the investors. Continue Reading…