Secretary Cox: Four Middle-Georgia Men Sentenced to 17+ Years
Following Convictions in $150 Million Promissory Note Scheme, 
Four Others Await Sentencing

ATLANTA … A multi-year investigation by the Secretary of State’s Securities Division, the Federal Bureau of Investigation and the State Insurance Commissioner’s Office has culminated in lengthy sentences for four scam artists convicted in federal court earlier this year. The four were sentenced following convictions for securities fraud, money laundering and conspiracy to commit mail and wire fraud related to sale of fraudulent promissory notes to investors in Georgia and other southeastern states.

The four men, all former employees of Tifton-based GFI Financial, Inc., were sentenced to 210 months in prison and were ordered to pay restitution to their victims in the amount of $2,157,766.06 by Senior United States District Court Judge Wilbur D. Owens, Jr. 

The four are:

Keith V. Harned, 33, of Macon, Georgia
Benjamin F. Lindsey, 32, of Lenox, Georgia 
Wayne R. Lindsey, 58, of Lenox, Georgia 
John L. Perry, 34, of Tifton, Georgia

The Secretary of State’s investigation of the matter, prompted by complaints from Georgians who were bilked of their life savings, began in 1997, and initially led to a civil action taken against GFI. The Secretary of State’s successful effort to seize and appoint a receiver for GFI’s assets resulted in nearly 80 percent of the lost funds being recovered for Georgia investors.

“I am extremely pleased that the court has applied serious penalties in this case. This sentencing sends a powerful message to those who would prey on the trust of Georgia consumers,” said Secretary of State Cox. “Assistant United States Attorney Paul McCommon did an outstanding job insuring that these criminals were brought to justice,” Cox added.

David A. Cawthon, 47, of Perry, is set to be sentenced by the Honorable Hugh Lawson on April 25, 2002.

Sentencing dates for Virgil Womack, former president and CEO of GFI Financial, Charlotte Womack and George Williamson have not yet been set.