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  • Atlanta developer at center of Cayman Islands payoff probe

    Atlanta developer at center of Cayman Islands payoff probe
    January 5, 2012 --

    Investigators have reportedly questioned Atlanta’s Stan Thomas about possibly illicit payments tied to development of a proposed Cayman Islands resort. Thomas has been in the headlines in recent years for his relationship with former Gov. Sonny Perdue and the somewhat spectacular collapse of his real-estate empire. Now, according to news reports, Royal Cayman police say they are investigating allegations that Thomas paid Cayman premier McKeeva Bush as much as $375,000 in 2004.

    House speaker’s disclosure omits $1M debt

    House speaker's disclosure omits $1M debt
    July 6, 2011 --

    House Speaker David Ralston, for the first time in five years, has disclosed his wife’s ownership of an undeveloped 10-acre tract in Dawson County. The speaker, who last week added the property to his financial disclosures, said he’d simply forgotten. What he still hasn’t reported is the more than $1 million he’s borrowed, using collateral that’s valued at less than half that much.

    Appraisers: Oaky Woods sellers got sweet deal in 2004

    Appraisers: Oaky Woods sellers got sweet deal in 2004
    January 5, 2011 --

    The site of the Oaky Woods wildlife area sold for such a sweet price in 2004 that the sale cannot be used to determine a value today, state appraisers say. The state last week forked over $2,860 an acre — 75 percent more than the ’04 price — for a portion of the tract. A subsidiary of Synovus Financial, the Columbus-based banking giant that’s lost a pile on bad real-estate loans, pocketed about a third of the proceeds.