Lawsuit: Alleges Gwinnett developer Wayne Mason hid millions from creditors

This is a repost from The Gwinnett Daily Post and I’m posting because from conversations with a few people there seems to be concern if this is actually true or is Mr. Mason being railroaded? I’d done a small bit of research and been told that he has done a lot of good for Gwinnett and also learned that he was never Mayor of SNellville which is stated in this article. What do you think? Read and leave comments please.

 

Family and businesses related to former Gwinnett County Commission chairman and real estate tycoon Wayne Mason are facing a federal lawsuit from a holding company claiming that he used them to shelter millions from creditors.

The accusations against Mason, county chairman in the late 1970s, stem from $137 million of purported transfers of cash and various assets to his wife, son and daughter, as well as family businesses and a family trust, according to the suit.

The family’s attorney, former Gov. Roy Barnes, didn’t immediately respond to an email requesting comment Tuesday.

Edgefield Holdings, the Delaware company behind the litigation in U.S. District Court in Atlanta, claims the transfers began as Mason feared the Great Recession would take him down in the mid-to-late 2000s. The assets were allegedly “decreasing rapidly in value” as he made the transfers.

“Wayne set forth on a purposeful scheme to transfer substantial assets to his family members and related entities over which Wayne retains control in an effort to conceal and protect those assets from his legitimate creditors,” the lawsuit alleges.

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Edgefiled Holdings has lost an attempt to put in place a temporary restraining order to prevent Mason from making further transfers.

The company became involved in Mason’s financial dealings after purchasing a $5 million judgement he owes from a 2014 case filed against him by First Citizens Bank and Trust Company in Gwinnett state court, the lawsuit says.

The group accuses that Mason made the transfers even though he reported the cash and assets to lenders to support them lending him hundreds of millions of dollars.

Edgefield also claims Mason “bragged” to a fellow developer and former partner, Ronald S. Leventhal, about his activities, including his transfer of ownership of tracts along Atlanta’s Beltline for “imagery purposes.”

Mason has been among Gwinnett and metro Atlanta’s most well-known developers for years.

Regularly involved in civic matters, he serves as a member of Georgia Gwinnett College’s foundation board, according to the school’s website.

He has at times been involved in controversy through the years as well, being called to testify for grand jury proceedings on public corruption, but never charged. Fellow former commission chairman Charles Bannister once accused Mason of offering to make him wealthy in exchange for Bannister’s support of Mason’s projects.

1 Comment

  1. I have know Wayne Mason my entire life. Wayne Mason has done more for the well being of Gwinnett County than any one person has ever done. With his Brother Jimmy they put Gwinnett County on the map and led the early urbanization of the said county. Some people will go to any lengths to get an upper hand on something or someone. Let them prove it and until then I will put my name on the line for Wayne. Just another scheme to hurt someone who has been successful.

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