Federal authorities charged two Southern California real estate executives in separate schemes that allegedly stole millions of dollars in public funds intended to fight homelessness. The U.S. Attorney’s Office said Brentwood developer Steven Taylor and former Shangri-La Industries chief financial officer Cody Holmes are facing felony fraud charges tied to California’s Homekey program, which finances conversions of hotels and other properties into apartments for unhoused residents, the Los Angeles Times reported. Prosecutors claim Taylor allegedly falsified bank statements and misled lenders to buy a Cheviot Hills nursing home for $11.2 million, then sold it weeks later to nonprofit developer Weingart […]
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