Victims of a Ponzi scheme may be able to get some money back; The Cobb court house caught fire; And a Marietta alum had a huge opening weekend of College Football.
#CobbCounty #Georgia #LocalNews
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From the Chattahoochee Tech studio Welcome to the Marietta Daily Journal Podcast
Today is Tuesday August 30th and happy 50th birthday to Cameron Diaz
I’m Dan Ratcliffe and here are your top stories presented by Engineered Solutions of Georgia
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STORY 1:Ponzi
A year after a #Marietta man with broad holdings in the #Chattanooga, Tennessee, area was accused of running a massive Ponzi scheme, investors who were allegedly bilked may soon learn how they’ll get money back.
A method for distributing money, garnered from the sale of assets, is expected to be discussed at a court hearing on September 9th before U.S. District Court Judge Steven D. Grimberg of Atlanta, according to court filings.
There’s no indication how much of the money from the asset sales, which are still ongoing, will be available to share between investors or when distributions may take place, court papers show. Losses to investors to date amount to about $68.2 million, filings show. In August 2021, the U.S. Securities and Exchange Commission alleged that John Woods operated the Ponzi scheme for more than a decade and defrauded more than 400 investors.
John, who at the time was a minority owner of the Chattanooga #Lookouts #MinorLeagueBaseball team and had overseen operations of an investment firm in the city, allegedly collected $110 million from investors with promises of 6-7% returns.
But the #SEC said in court papers that investments John made in a number of companies and in real estate deals, several in Chattanooga, were worth far too little for there to be any realistic prospect of paying back investors their principal, much less the promised returns.
An SEC spokesman declined to comment beyond the court filings earlier this month.
John in court filings has denied the allegations by federal regulators of running the Ponzi scheme and asked for a jury trial in the civil case. He has not been charged criminally.
STORY 2:Fire
The Marietta @Fire Department was on the scene of a fire early Sunday evening at the Cobb courthouse complex in downtown Marietta.
Five Marietta firetrucks responded to the scene. #CobbCountySheriff's Office said the fire was in Building D, Magistrate Court Building.
The courthouse is closed Sundays. No injuries were reported.
One eyewtiness said at the onset of the fire, flames could be seen coming from the roof of the building.
As of 6:30 p.m., the blaze had been contained and firefighters continued to monitor for hot spots.
STORY 3:UNLV
Even after #UNLV football’s largest margin of victory under Marcus Arroyo, the third-year head coach said he wasn’t afraid to admit that there were still some areas that need improvement.
But for now, he took time to enjoy the #Rebels’ 52-21 season-opening win over Idaho State Saturday at Allegiant Stadium.
Michigan State transfer #RickyWhite made an impact in the second quarter, starting off by hauling in a 72-yard touchdown pass from Brumfield. All 182 of his receiving yards and both touchdowns came during UNLV’s 35-0 showing in the second quarter. Ricky is a former standout for #MariettaHighSchool. The Rebels have a bye next weekend and travel to face #California in #Berkeley on September 10th.
STORY 4:Princess
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The Marietta High School Theatre hosted aspiring #princesses and their parents Saturday for a morning of dancing, singing, and fun at the Once Upon a Tea Party fundraiser show.
The Marietta Performing Arts Center was packed Saturday as students dressed up as different themed princes, princesses, and sidekicks from the #Disney character world and beyond. Music from princess-themed movies played as cast members at the school danced and performed on stage, as the auditorium of the center was transformed into something befitting #WorldPrincessWeek, an annual event going on at #DisneyParks this week.
The Once Upon a Tea Party event was introduced five years ago when Holly Smith, the schools’ head theater director, met another teacher at a convention who shared the fundraising idea with her.
Similar to a Disney character breakfast, the event starts with the student performers walking about the set up tables in the lobby, visiting with kids as their princess personas while they enjoyed cupcakes and coloring.
The crowd then gathered in the auditorium where students performed different numbers from Disney shows, concluding with the kids being brought on stage to learn the waltz from different characters.
The students rehearse for a period of three weeks, starting production work and auditions in July, practicing two to three times a week. The students were eager to dive into their roles, only needing a combined 12 hours of rehearsal time before they were ready. The funds raised through the event benefit the booster organization of the theater department. The booster organization helps cover the cost of department productions, costumes, props, field trips, conferences and college scholarships. Last year, the booster organization was able to provide two college scholarships to students.
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STORY 5:International
The #CobbInternationalFestival returned this weekend for the first time following a two-year hiatus due to #COVID-19.
The event center of Jim R. Miller Park saw heavy foot traffic for the entirety of the six-hour event. People were eager to soak in all of the local and international music, shows and a wide variety of international cuisine offered by the many vendors surrounding the pathways. Returning for the first time since its debut in 2019, the festival shut down due to the COVID-19 pandemic, according to Michael Brantley, director of Cobb County Parks and Recreation. Michael said he and his team recently noticed more people wanting to get out of the house and do things, and they knew it was time to restart the festival. Parks and Recreation coordinated the festival, according to Cobb County Commission Chairwoman #LisaCupid, and pulled staff from across different Cobb County agencies to help plan the event. Vendors paid a fee for each table set up..
Lisa Cupid spoke to the crowd early Saturday afternoon, officially kicking off the event. She invited different consulate representatives on stage to share greetings in their native languages, including members from South Korea, Ghana, Nigeria and Canada, to name a few.
STORY 6: Kell
#Kell is on its first winning streak of the Bobby May era.
The #Longhorns jumped in front early while holding #Allatoona to just 113 yards of offense and taking advantage of four Buccaneer turnovers to win 21-9 on Friday in their home opener at #CobbEMC/#CorkyKellStadium.
It allowed Kell to continue the momentum it gained from beating Cherokee Bluff to begin the season in last week’s Corky Kell Classic. Allatoona threw two interceptions in the second quarter — the second coming on an attempted touchdown pass — and changed quarterbacks. However, what hurt the Buccaneers the most was a bad snap midway through the second quarter, which Kell’s Nelson Woghiren scooped up and returned 59 yards for a touchdown. Allatoona’s lone touchdown of the game came midway through the fourth when it recovered a high snap from Kell at the Longhorns’ 1-yard line. Quarterback Saadiq Teel punched it in on the next play to cut the Kell lead to 12 points.
The Buccaneers’ only points of the first half came on a 47-yard field goal by Grey Kelley.
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