SEC Charges Lamar D. Fletcher in Alleged $4.25 Million Real Estate Offering Fraud
SEC charges Lamar D. Fletcher over an alleged $4.25 million real estate offering fraud involving about 100 investors and misuse of investor funds in Georgia.
Summary
The SEC charged Georgia resident Lamar D. Fletcher on September 29, 2026, alleging he raised more than $4.25 million from approximately 100 investors nationwide through promissory notes and similar securities. From April 2021 to November 2024, Fletcher allegedly portrayed a successful real estate business and solicited investments through Fletchers Capital Group, LLC and Fletchers Multi-Family Real Estate Partners Fund, LP, promising annualized returns of up to 80% or more and claiming proceeds would acquire or develop real property.
The complaint says no investor funds financed real estate development. Fletcher allegedly spent more than $2 million on personal expenses and used more than $2 million to pay purported returns to earlier investors. The SEC alleges violations of Securities Act Section 17(a), Exchange Act Section 10(b), and Rule 10b-5, and seeks permanent injunctive relief, disgorgement with prejudgment interest, and a civil penalty.
The case, SEC v. Lamar D. Fletcher, No. 1:26-cv-05623-SCJ, was filed in the U.S. District Court for the Northern District of Georgia and announced in Litigation Release No. 26656 on September 30, 2026. Grant Mogan and Krysta Cannon investigated under Thomas B. Bosch and Justin Jeffries; Pat Huddleston will litigate under M. Graham Loomis.
Positives
- The September 29, 2026 federal complaint places the alleged conduct before the U.S. District Court for the Northern District of Georgia.
- Disgorgement with prejudgment interest could recover alleged ill-gotten gains if the court grants the SEC’s requested relief.
- Permanent injunctive relief and a civil penalty could impose consequences and restrict future securities-law violations if ordered.
Risks & concerns
- More than $4.25 million was allegedly raised from approximately 100 investors nationwide between April 2021 and November 2024.
- More than $2 million allegedly funded Fletcher’s personal expenses rather than the represented real estate projects.
- More than $2 million allegedly paid purported returns to earlier investors, indicating dependence on newly raised money.
- No investor funds were used for real estate development, according to the SEC’s complaint.
- Annualized returns of up to 80% or more were allegedly promised while Fletcher misrepresented the business and intended use of proceeds.
