Sec. Cox: Marietta Man Sentenced to 10 Years in Prison For Securities Fraud;
Bilked Thousands from Local Investors

ATLANTA … Secretary of State Cathy Cox today applauded the sentence for a Marietta man convicted on charges of theft and securities fraud for a “Ponzi scheme” that bilked thousands from local investors.

            Henry Dawson Branan, 64, of Marietta was sentenced yesterday in Cobb Superior Court to 10 years in prison and 20 years of probation by Judge S. Lark Ingram.  Branan was found guilty of five counts of theft and six counts of securities-related fraud for unregistered fraudulent investments. Branan’s company, Yacht America Marinas, sold boat slips and dry-stack boat storage racks to several Atlanta-area investors with the false promise of high returns and guaranteed profits. Investors were assured the “investment” was safe and that there was no way they could lose their money. 

Special conditions of Branan's probation include being barred from working in financially-related fields such as securities, banking, etc., and paying restitution to his victims to start within 60 days of his release from prison.  If, during the term of his probation he manages to complete restitution, his probation will not terminate. 

            In March 2001 the Secretary of State’s Securities Division opened an investigation into Henry Branan after receiving a complaint referral from the Governor’s Office of Consumer Affairs. At the time Mr. Branan was not registered to sell securities in Georgia, nor were the boat slip investments properly registered with the Secretary of State’s office as required by law.

            “I applaud Assistant Attorney General Kim Schwartz and the investigative staff of our Securities Division for their efforts in putting a stop to this Ponzi scheme before other unsuspecting investors lost their hard earned money” Secretary Cox said. “This sentence sends a strong message that Georgia will prosecute financial fraud to the fullest extent of the law,” Cox added.