-Georgia Attorney General’s Office News Release-
Georgia Attorney General Chris Carr has filed a complaint in Fulton County Superior Court against SDG Impact Fund, Inc. (SDGIF); SDGIF’s successor entity, SDG Global Impact Fund, Inc.; SDGIF’s executive director, Anthony Suber; and SDGIF’s former board member, Bryan Doreian. The complaint alleges that the defendants illegally distributed charitable assets and misled donors, among other claims.
“When consumers are donating funds, they deserve to know they’re dealing with a legitimate organization — not a scam,” said Carr. “Those who knowingly deceive Georgians to line their own pockets will face action by this office. We have strong laws in place to protect consumers, and we will ensure they’re enforced.”
Headquartered in Georgia, SDGIF purports to operate as a 501(c)(3) sponsoring organization for donor-advised funds. SDGIF solicits contributions from individuals and entities throughout the United States and abroad, who may donate cash, cryptocurrency, bonds, or other assets. SDGIF then promises to donate those funds to a charitable beneficiary selected by the contributor to facilitate the accomplishment of the United Nations’ Sustainable Development Goals. At one point, SDGIF claimed to have solicited over $10 billion in donations. SDGIF has recently moved its operations to SDG Global Impact Fund, Inc., which is also actively soliciting charitable contributions from donors across the globe.
As alleged in the complaint, however, the defendants have spent significant amounts of the solicited donations for non-charitable purposes. Specifically, the defendants used donations to fund personal expenses, including vacations, attorney’s fees and restitution in criminal cases, car loans and mortgages, private school tuition, and various other personal expenses, such as Amazon purchases, clothing, groceries, pet supplies, and sports equipment. Moreover, the complaint alleges that the defendants misled donors in person, over the phone, over email, on their website, and on social media by soliciting donations without legal authorization to do so and by hiding their noncompliance with state and federal laws.
Carr is asking the Court to hold the defendants accountable for the unlawful conveyances or transfers of assets for unlawful purposes and is seeking to require the defendants to pay restitution to contributors. In addition, Carr is asking the Court to assess a civil penalty against the defendants in the amount of $5,000.00 per violation of the Fair Business Practices Act and to appoint a receiver to manage the defendants’ assets.
