Atlanta-Area Developer Allegedly Hid Millions From Creditors

An Atlanta-area developer allegedly transferred his assets to family members to keep them out of the hands of his creditors, a federal lawsuit claims.

Wayne Mason allegedly gave his family and family businesses some $137 million in order to keep it from going to those he owed money to between 2007 and 2009, but now those creditors are suing Mason’s family for the money. Atlanta Business Chronicle reports that over $76 million of the allegedly transferred assets were properties owned by Mason, including some in the Atlanta BeltLine.

Mason once served as the Chairman of the Gwinnett County Commission, but was also behind such failed projects as Global Center, meant to be Atlantic Station’s rival in Gwinnett County. These bad investments caused Mason to rack up hundreds of millions in debt, prompting him to give his money to his family, the lawsuit filed by Edgfield Holdings claims.

The full lawsuit may be read below.