ATLANTA, Ga. – According to a report from WALB, Attorney General Chris Carr and the Georgia Bureau of Investigation (GBI) said warrants were issued for Clarence Dean Alford, a former member of the Board of Regents representing Georgia’s 4th Congressional District.

Alford is alleged to have exploited an industry practice through factoring, which is a financial transaction in which a business may sell its accounts receivable to a third party.

Carr stated that “acts of fraud and corruption have no place in Georgia’s state government.”

 “Members of the Board of Regents must adhere to the highest ethical and moral standards,” Don Waters, Board of Regents chairman. “This is essential to ensuring the public’s trust, to fulfilling our duties and obligations to students and safeguarding the integrity of the University System of Georgia and its Board. The allegations brought against Dean Alford, who resigned from the Board today, are shocking and deeply upsetting. We will continue assisting law enforcement in any capacity necessary throughout the investigation.”

The joint investigation between the attorney general’s office and the GBI is currently on going.