I’ve often commented that EPIC City, the supposed “Islamic City” looks a whole lot like a traditional real estate swindle. It seems that Ken Paxton agrees, as he’s filing a lawsuit on that basis.
Texas Attorney General Ken Paxton has filed a lawsuit against the East Plano Islamic Center (EPIC), Community Capital Partners (CCP), and several of their leaders, alleging that they engaged in an illegal land development scheme that violated Texas securities laws.
EPIC City, recently rebranded as The Meadow, is a proposed Islamic housing development in North Texas that has drawn controversy throughout the year.
According to the lawsuit, CCP—formed by EPIC as a vehicle to purchase and develop more than 400 acres in Hunt and Collin counties—engaged in fraudulent practices while soliciting investments for the EPIC City project. Promotional materials allegedly described the development as the “epicenter of Islam in North America” and implied it would be reserved for Muslims, despite assurances to the contrary.
“The leaders behind EPIC City have engaged in a radical plot to destroy hundreds of acres of beautiful Texas land and line their own pockets,” said Paxton. “I will relentlessly bring the full force of the law against anyone who thinks they can ignore the rules and hurt Texans. The unlawful land project known as EPIC City will be stopped, and those responsible will be barred from ever creating another fraudulent operation like this again.”
Paxton’s office also claims that CCP funneled investor funds for personal enrichment and failed to verify whether more than 10 percent of investors qualified as “accredited investors,” as required by law.
The lawsuit follows months of state investigations into the project. In March, Paxton announced an investigation into EPIC City and later requested a referral from the Texas State Securities Board after uncovering what his office described as “flagrant” violations of federal and state securities law.
I’m sure the founders of EPIC City thought they were going to claim a part of Texas in the name of Islam, but it looks like they’re going to be buried in so many lawsuits that their speculative land development is never going to see the light of day.
Tags: Community Capital Partner, East Plano Islamic Center (EPIC), EPIC City, Jihad, Ken Paxton, Lawsuit, Texas
Off topic but…
Every time I see “Plano”, my subconscious assumes somebody held down the shift key too long when typing “Piano”, and corrects it. I usually realize my mistake a sentence later.
For those of you who deal with Plano often, do you get over that? Just curious.
Just have to jump in here and say that Your recommendation of
“Opening” (Philip Glass Modular Nerdseq sequencing)
was fantastic.
Other than that I don’t believe the taxpayer funded government should spend taxpayer funds to inter alia enrich lawyers, pursuing tax paying private business.
Islam, and Sharia Law, are alien to Texas, and those promoting it need to leave.
[…] moist red spot in the road. It’s looking less and less like a speartip of jihad and more like a classic speculative land swindle. But this week brought not one, but two entirely new sets of legal scrutiny for EPIC […]