AUSTIN, Texas (KMID/KPEJ)- Texas Attorney General Ken Paxton has filed a lawsuit against the East Plano Islamic Center, Community Capital Partners, and several leaders involved in a proposed residential development known as “EPIC City,” accusing them of violating state securities laws.
Paxton’s office alleges the groups used Community Capital Partners, an entity formed by the center, to raise money for more than 400 acres in Hunt and Collin counties.
“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 Attorney General 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.”
According to the lawsuit, CCP solicited investments through misleading promotional materials, failed to verify investor status as required under state law, and diverted funds for personal use.
State officials say some of the project’s marketing suggested the development would be reserved for Muslims and described the area as the “epicenter of Islam in North America.” The attorney general’s office argues those claims were used to attract investors while concealing financial risks.
Earlier this year, Paxton launched an investigation into the development and requested a referral from the Texas State Securities Board in October. After receiving that referral, his office moved forward with legal action to stop the project from advancing.
The lawsuit seeks to halt further fundraising tied to EPIC City and bar the defendants from operating similar ventures in the future.
The full filing can be found here.
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