Dade County Executive Ted Rumley looks over the planned community center and swimming pool for The Preserve, a 2,100-acre land development near Rising Fawn, Ga., that went bankrupt. Two men connected to the project were found guilty of fraud and money laundering in federal court last month.
FAMILY LANDThomas and Louise Dobson, Josh Dobson’s parents, own seven lots, each under two acres and valued at $20,000 apiece, according to property records. Louise Dobson also owns a 13-acre lot at The Preserve with a cabinlike building, all valued at $60,700.Shields’ wife, Hasley Abbie Shields, owns 16 lots ranging from one to two acres, all valued at $20,000 each. Travis Shields said those lots were deeded to her after she spent much of her own money investing in the property’s development.None of the lots owned by the family are under the bankruptcy filing, Travis Shields said.
RISING FAWN, Ga. – A pastoral slice of Dade County continues to offer the promise of rustic homes and beautiful views despite being mired in bankruptcy, fraud and delinquent taxes for the past three years.
The Preserve, also called Wild Moon Ranch, was a more-than-2,000-acre rural retreat for the late Dr. Joe W. Johnson Jr., of Chattanooga, until his death in 1986. The land was sold to another family but kept intact.
Then a real estate development company called Southern Group met with those owners and began marketing the property as a mini-Pigeon Forge in this corner of North Georgia.
Land sales were booming, and the promised amenities made the 3-acre lots all the more attractive in 2006.