Calif. Real Estate Developer Indicted In $7M Bond Scheme

Law360, New York (March 16, 2012, 7:47 PM EDT) -- Federal prosecutors indicted a California real estate developer on Thursday for allegedly trying to deceive the city of Modesto, Calif., into issuing $6.6 million in bonds to make improvements to a plot of land she owned.

Aruna Kumari Chopra, 63, is accused of hiding outstanding liens and fudging sales contracts to persuade city officials to create a special tax district whose revenue would go toward streets, sidewalks, lighting and other work on a 40-acre property she planned to develop.

She also allegedly forged documents with the...
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