Former chamber CEO arrested on securities fraud charges

Posted on June 24, 2017 by Romi White

Yesterday Judy Morehead resigned from Navarre Beach Area Chamber of Commerce, citing family medical issues. But Morehead is also facing more legal woes — this time in Clay County, Alabama.

Morehead, her husband, Stan, and  Benjamin Wayne Morehead were indicted by an Alabama grand jury in March, per a news release. The Dothan Eagle is reporting that Benjamin is Judy’s son and that a jury trial is set for October 2.

Morehead, 60, had turned herself in back on May 24 for multiples charges, including conspiracy to commit securities fraud. She was released on a $40,000 bond. 

In addition to the criminal charges Morehead is facing in Alabama, she and the Navarre Beach Area Chamber of Commerce are also facing a civil lawsuit for slander by Beach Community Bank Tony Hughes.

Following is the press release from the Alabama Securities & Exchange Commission:

Henry County Woman Arrested for Alleged Alabama Securities Act Violations

MONTGOMERY, ALABAMA (June 20, 2017) Patrick B. Jones III, District Attorney for the 20th Judicial
Circuit, Henry County, Alabama; and Joseph Borg, Director of the Alabama Securities Commission (ASC)
announced that Judy Kay Morehead, a resident of Henry County, Alabama, turned herself in, May 24, 2017, to
the Henry County Jail upon an arrest warrant based on an indictment returned by the March, 2017, Henry County
Grand Jury; Morehead was released on a $40,000 bond.

Charges against Morehead include one (1) count of Conspiracy to Commit Securities Fraud and one (1) count of
Sale of Securities by an Unregistered Agent. Additionally, Morehead is charged with one (1) count of Engaging
in an Act, Practice, or Course of Business Which Operates or Would Operate as a Fraud or Deceit Upon Any
Person; and two (2) counts of Fraud in Connection with the Sale of Securities, more specifically described as
omitting to state material facts and making untrue statements of material facts to investors. The conspiracy and
registration charges are Class C Felonies, punishable by a possible maximum of 10 years imprisonment and a
$15,000 fine per charge, upon conviction. All other charges against Morehead are Class B felonies, punishable
by a possible prison sentence of from 2 to 20 years and a $30,000 fine per charge, upon conviction.

The ASC cautions potential investors to thoroughly scrutinize and research any investment opportunity or offer.
Contact the ASC with inquiries concerning securities broker-dealers, agents, investment advisers, investment
adviser representatives, financial planners, registration status of securities or debt management programs, to
report suspected fraud or to obtain consumer information. The ASC provides free investor education and fraud
prevention materials in print, on our website and through educational presentations upon request.