June 29, 2023
The Fifth Circuit has found a Texas district court overstepped when it appointed a receiver in the U.S. Securities and Exchange Commission's case against a real estate developer for raising $26 million from foreign investors by inflating property values, saying the SEC should have first sought an injunction to freeze assets.
June 07, 2023
The owner of a Dallas property joined the U.S. Securities and Exchange Commission Wednesday in asking the Fifth Circuit not to grant a stay of receivership proceedings in a case against a real estate developer accused of raising $26 million from foreign investors by inflating property values, saying he is purposely delaying proceedings.
May 02, 2023
The Fifth Circuit questioned how an indicted Texas developer could have his home and assets seized by a receiver before he faces trial for allegedly raising $26 million from 100 foreign investors by inflating offering prices on real estate.