Man Charged With $7 M Scam

A 43-year-old Bremen, Ga. man has been indicted by a federal grand jury on a charge of operating a $7 million investment scam. Jeffrey Wallace Edwards is scheduled to have a bond hearing before U.S. Magistrate Judge Linda Walker on Monday. U.S. Attorney David Nahmias said starting early in 2006 Edwards promised investors they would receive returns of between 40 and 150 percent on money they placed in his "high yield" investment programs. Nahmias said between February 2006 and February 2008, 31 investors mailed or electronically transferred more than $7.4 million to Edwards, who allegedly spent the money on real estate, vehicles, jewelry, fur coats, art, gambling trips to Las Vegas and family cruises.

(Associated Press)

UGA warns of ticket scams

Football ticket scam artists could target University of Georgia fans. UGA is warning that high demand for tickets to Saturday night's game between Georgia and Alabama could bring ticket scalping, scam artists and fake tickets. The warning comes after a high number of bogus tickets surfaced at last weekend's Auburn-LSU game.

Two new scams arise

The state Department of Revenue is warning Georgians of two new scams. The Atlanta Business Chronicle reports the scams involve fake checks. In one scam, people get a letter with a phony check worth $50,000 allegedly issued by the DOR. The second scam involves people getting checks from a company called AIRSERV with inaccurate banking information.