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SEC Hits Mexican Homebuilder Ex-Execs With Fraud Claims

Law360, Los Angeles (October 11, 2017, 8:06 PM EDT) -- The U.S. Securities and Exchange Commission on Wednesday accused four former senior officers with Mexican housing giant Homex of playing a role in a covering up a multibillion-dollar scheme to show the company built and sold tens of thousands of homes that never existed.

Desarrolladora Homex SAB de CV previously agreed to a five-year ban from U.S. stock markets to settle claims that it overstated revenues by $3.3 billion over three years. But SEC enforcers are now hurling financial fraud charges at ex-CEO Gerardo de Nicolás Gutiérrez,...
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Case Information

Case Title

Securities and Exchange Commission v. de Nicolas Gutierrez et al

Case Number



California Southern

Nature of Suit



John A. Houston

Date Filed

October 11, 2017


Government Agencies

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