Texas Attorney General Files Lawsuit Against Colony Ridge for Fraudulent Real Estate Practices
TL;DR
Texas Attorney General Ken Paxton has filed a lawsuit against the Colony Ridge development in Liberty County for deceptive trade practices, fraud in real estate transactions, and other violations of Texas and federal law. The lawsuit alleges that Colony Ridge targeted foreign-born and Hispanic consumers with limited access to credit, made false promises about land and financing, and misrepresented the conditions of the land and community. The predatory practices have led to a foreclosure rate 50 times greater than the national average, causing unjust harms to nearby communities.
Topics:businesslegal-real-estate#attorney-general-ken-paxton#colony-ridge#fraudulent-practices#legal-real-estate#real-estate-development#texas
- Attorney General Ken Paxton Sues Colony Ridge for Fraudulent Practices That Enabled Major Problematic Real Estate Development to Flourish Office of the Attorney General (.gov)
- Texas sues Houston-area housing development KHOU.com
- Texas AG Ken Paxton sues Colony Ridge for 'fraudulent practices' Chron
- Colony Ridge violated deceptive trade practices, Texas says The Texas Tribune
- Owners of notorious Texas 'illegal alien settlement' Colony Ridge sued by state for fraudulent claims, predatory practices: AG New York Post
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Read on Office of the Attorney General (.gov)