Desarrolladora Homex agreed to a settlement after the US Securities and Exchange Commission (SEC) used satellite photography to prove the company never started many of the developments it claimed to have finished.
At one site in the state of Guanajuato, Homex reported that every planned home had been built and sold by the end of 2011. But satellite images taken in March 2012 showed that it was still largely undeveloped.
via Fantasy homes: Mexican builder settles $3.3bn accounting fraud charges — GCR
