Georgia Board of Regents member C. Dean Alford resigned on Oct. 3 following an investigation into Alford for allegations of racketeering and criminal attempt to commit theft by taking, according to The Atlanta Journal-Constitution.
Alford, who was appointed to the board in 2012 and reappointed in July 2019 after an absence is suspected by authorities to have exploited a financial practice known as "factoring," by which a business sells its accounts receivable to a third party at a discounted rate.
The Georgia Bureau of Investigation and Attorney General's Office have issued an arrest warrant on the charges for racketeering and theft attempt, according to the AJC.
Alford submitted his letter of resignation to Gov. Brian Kemp on Oct. 3, according to a copy of the letter of resignation obtained by the AJC.
Kemp “demanded, and received” Alford’s resignation from the board because “every state official must follow the highest ethical standards in all aspects of their conduct,” according to a statement the AJC received from Kemp. Kemp reappointed Alford to the board in July.
The state Attorney General and GBI will conduct a complete and thorough investigation into Alford’s allegations, according to Kemp’s statement.
Alford served as a member of the board, which oversees all public institutions under the University System of Georgia, including the University of Georgia. Prior to his appointment to the board, Alford served as a five-term member of the Georgia House of Representatives.
GBI Director of Public Affairs Nelly Miles told The Red & Black the Attorney General’s Office is handling the release of information on the investigation.