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 Title

Securities and Exchange Commission v. de Nicolas Gutierrez et al


Case Number

3:17-cv-02086

Court

California Southern

Nature of Suit

850(Securities/Commodities)

Judge

Judge John A. Houston

Date Filed

October 11, 2017

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