Oxton Senior Living, LLC, et al.
On January 20, 2017, the SEC obtained a temporary restraining order, asset freeze, and other relief against Dwayne Edwards and certain entities through which he owned and operated assisted living and memory care facilities in Georgia and Alabama. According to the SEC's complaint, Edwards and the other defendants acquired the facilities through municipal bond offerings, but then misused certain offering proceeds and improperly commingled facility revenues. From these funds, Edwards and the other defendants allegedly diverted investor money for personal use as well as to finance other unrelated bond offerings.
The Court has appointed Derek Pierce as Receiver. For the latest information about the receivership, you can visit the Receivership's website: http://oxtonseniorlivingreceivership.com.