{"id":80313,"date":"2025-12-08T13:41:13","date_gmt":"2025-12-08T13:41:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-tx\/80313\/"},"modified":"2025-12-08T13:41:13","modified_gmt":"2025-12-08T13:41:13","slug":"texas-sues-east-plano-islamic-center-for-securities-fraud","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-tx\/80313\/","title":{"rendered":"Texas Sues East Plano Islamic Center for Securities Fraud"},"content":{"rendered":"

On \u00a0Friday, Paxton formally accused Community Capital Partners\u2014a private group that he claims EPIC founded\u2014of failing to register as a securities dealer and committing securities fraud by misrepresenting the proposed settlement\u2019s location, as well as the eventual compensation of its \u201cleader.\u201d<\/p>\n

Texas Attorney General Ken Paxton has filed a lawsuit against the East Plano Islamic Center for alleged securities fraud violations.<\/p>\n

According to the Texas Tribune, the defendant organization began attracting attention after it pitched a plan for a residential development, formerly called EPIC City, with more than 1,000 residential units. The community would feature a mosque, a faith-based school, and its own set of retail shops.<\/p>\n

Earlier this year, the state launched a series of investigations into the project.<\/p>\n

In March, for instance, Paxton\u2019s office announced that he was looking into the East Plano Islamic Center for potential violations of consumer law.<\/p>\n

\u201cUnder my watch, there will be zero tolerance for any person or entity that breaks Texas law,\u201d Paxton\u2019s office said in a March press release. \u201cMy office has an open and ongoing investigation into EPIC City, which has raised a number of concerns, and this CID will help ensure that any potential violation of state law is uncovered.\u201d<\/p>\n

\"\"<\/a>A 2013 image of Texas Attorney General Ken Paxton. Image via Wikimedia Commons\/user:Alice Linahan Voices Empower. (CCA-BY-2.0).<\/p>\n

On \u00a0Friday, Paxton formally accused Community Capital Partners\u2014a private group that he claims EPIC founded\u2014of failing to register as a securities dealer and committing securities fraud by misrepresenting the proposed settlement\u2019s location, as well as the eventual compensation of its \u201cleader.\u201d<\/p>\n

\u201cThe leaders behind EPIC City have engaged in a radical plot to destroy hundreds of acres of beautiful Texas land and line their own pockets,\u201d Paxton said in a statement, vowing to stop the development. \u201cI 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.\u201d<\/p>\n

The lawsuit, notes The Dallas News, focuses primarily on Community Capital Partners and EPIC Real Properties Inc. Paxton claims that the developers engaged in certain fraudulent practices while soliciting funds for EPIC City, which is now known as The Meadow.<\/p>\n

More specifically, Paxton alleges that the defendants \u201cfunneled a significant amount of the funds to their own pockets\u201d and failed to verify the accredited investor status of at least 10% of all persons who purchased securities for EPIC City.<\/p>\n

Community Capital Partners has since said that it is reviewing the lawsuit.<\/p>\n

\u201cWe just learned about the filing from the Attorney General\u2019s social media post,\u201d the company said. \u201cOur focus is on understanding the claims and ensuring we have a clear and accurate assessment of the document.\u201d<\/p>\n

Sources<\/p>\n

Attor\u00adney Gen\u00ader\u00adal Ken Pax\u00adton Issues CID as Part of an Ongo\u00ading Inves\u00adti\u00adga\u00adtion into Real Estate Devel\u00adop\u00adment Tied to East Plano Islam\u00adic Center<\/a><\/p>\n

Attor\u00adney Gen\u00ader\u00adal Ken Pax\u00adton Sues East Plano Islam\u00adic Cen\u00adter to Stop Its Ille\u00adgal Land Devel\u00adop\u00adment Scheme<\/a><\/p>\n

Texas AG Ken Paxton files lawsuit against proposed East Plano Islamic Center<\/a><\/p>\n

Texas AG Ken Paxton sues to stop development project once called \u2018EPIC City\u2019<\/a><\/p>\n

Texas AG Ken Paxton sues to stop Muslim housing project in North Texas <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"On \u00a0Friday, Paxton formally accused Community Capital Partners\u2014a private group that he claims EPIC founded\u2014of failing to register…\n","protected":false},"author":2,"featured_media":80314,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[160,162,161],"class_list":{"0":"post-80313","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-plano","8":"tag-plano","9":"tag-plano-headlines","10":"tag-plano-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/80313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=80313"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/80313\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/80314"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=80313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=80313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=80313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}