Investments tied to a Georgia man accused by regulators of a massive Ponzi scheme include an array of property in Chattanooga in addition to his share of the Lookouts baseball team, documents show.
John J. Woods, who grew up in East Ridge, has investments including the former Sears and J.C. Penney stores at Northgate Mall, several strip centers, a landfill and an investment services company, among others, according to federal court documents.
They are in addition to a 66% interest in the Livingston Group, which does business as Southport Capital, the investment advisory firm located in Chattanooga that Woods had headed until last week and which manages more than $824 million for clients.
Half of the 28 real estate projects, companies or entities identified as assets in Horizon Private Equity III LLC, where Woods held investments, have a Chattanooga connection, court records show.
Gerald B. Kline, a lawyer representing Livingston Group Asset Co./Southport Capital, said the Securities and Exchange Commission’s court filings last week came as a shock to everyone at Southport. But he said they’re pleased with the court’s favorable decision to deny the SEC’s request to place Southport into a receivership and freeze its assets.