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Browse: Home / 2017 / March / 03 / Satellites catch company faking construction of 100,000 homes, SEC says – CNNMoney

Satellites catch company faking construction of 100,000 homes, SEC says – CNNMoney

By Securities Docket on March 3, 2017, 4:42 pm

Desarrolladora Homex, once one of Mexico’s leading homebuilders, committed “massive fraud” by faking the construction and sale of 100,000 homes, according to an SEC complaint made public on Friday.

Authorities used high-resolution satellite images to uncover the scheme, which they say inflated Homex’s sales by more than $3 billion over three years.

via Satellites catch company faking construction of 100,000 homes, SEC says – CNNMoney

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Posted in SEC, Top | Tagged Fraud

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