State officials have barred a Cartersville-based charity that claimed to manage over $10 billion in assets from operating in Georgia after allegations that it misused donor contributions for personal expenses.
Secretary of State Brad Raffensperger issued an emergency cease-and-desist order against the SDG Impact Fund and its CEO, Anthony “Tony” Suber. The order accuses the organization of misappropriating solicited charitable funds, commingling donor money with personal accounts, and using those funds for private purposes. (Click on the line below for the order)
SDG Impact Fund Emergency Order Final 6.9.2026
Investigators allege donor money paid roughly $171,000 in tuition at a private Atlanta college-preparatory school for two of Suber’s children. Funds also reportedly covered personal credit card bills, luxury purchases, family travel, and real estate in Louisiana tied to Suber.
The SDG Impact Fund operated as a donor-advised fund, a tax-advantaged vehicle where donors contribute assets — often illiquid ones like cryptocurrency or art — and recommend grants to charities. The fund positioned itself around supporting the United Nations Sustainable Development Goals.
Donors report serious issues. Bertram Meyer, who contributed $1.9 million intended for an environmentally friendly church and monastery in California, says the transfer never occurred.
Other donors describe being “ghosted” — their grant requests and communications went unanswered for months, leaving them uncertain about the status of their money. Some say the fund solicited loans from donor accounts, promising returns that never materialized.
The organization, based right here in Cartersville, reported explosive growth in its IRS filings: from about $238 million in assets in 2020 to over $10 billion in 2021, largely from non-cash contributions. It maintained high reported assets even as crypto values dropped sharply. Grant payouts remained very low relative to claimed assets — around 0.1% in one year.
Suber provided a written statement defending the fund’s practices, noting that the organization holds final decision-making authority on grants and investments. He also referenced substantial administrative fees tied to the large asset base. Industry experts, however, called such fee levels unusually high for donor-advised funds.
Raffensperger told Channel 2 Action News that it appears people have been defrauded. The order imposes a $100,000 civil penalty, bars the fund from operating as a charitable organization in Georgia, and prohibits Suber from engaging in charitable solicitation activities. No hearing was requested, making the order final.
The Georgia Attorney General’s Office also has an active investigation into the matter.
Residents rely on trustworthy local and national nonprofits for good causes. Officials urge donors to carefully verify organizations and consult professionals before making large charitable commitments, especially for complex assets. Affected donors should contact the Secretary of State’s Charities Division for guidance.
We’ll continue following developments and bring you updates as more information becomes available.