Largest Wall Street Journal Real Estate Advertiser Sheldon Good, Charges Client for Ads Never Run, Claims Phoenix Colvard Development

    JEFFERSON, NC, June 20 /CNW/ - Phoenix Colvard Development has filed a
lawsuit claiming that Sheldon Good & Company International, LLC, a real estate
firm based in Chicago, Illinois, has charged clients, referred by JP Morgan
Chase Private Client Services, for real estate advertisements that were never
run in the Wall Street Journal and the New York Times. John A. McAllister,
Jr., of John McAllister Realty Consulting -- Columbia, South Carolina, was the
North Carolina licensed broker representing Sheldon Good & Company for the
sale of the property.
    Phoenix Colvard Development, a North Carolina real estate development
company, contracted Sheldon Good & Company to market and sell 477 acres of
property in Jefferson, NC.
    In a lawsuit filed today by Phoenix Colvard Development, supporting
documentation claims charges for a number of ads that were never placed.
During a nine-month period, Sheldon Good & Company did not respond to numerous
requests for tear sheets -- to show proof that ads paid for by Phoenix Colvard
Development were actually run.
    John McAllister, Sheldon Good's North Carolina's licensed agent for the
sale of property, is the former president and charter member of the South
Carolina Chapter of the REALTORS(R) Land Institute. He was also the head of
the Southeastern Federal Power Administration from 1988 - 1995. Mr. McAllister
received the Alvah. H. Chapman, Jr. Distinguished Leadership Award and was
inducted into The Citadel Business Hall of Fame in April, 2006.

For further information:

For further information: Jocelyn Hunter of Phoenix Colvard Development,

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