Texas AG Ken Paxton files lawsuit against Colony Ridge, accusing it of fraudulent practices targeting foreign-born and Hispanic consumers.
Texas Attorney General Ken Paxton has filed a lawsuit against Colony Ridge, a Houston-area development, accusing it of fraudulent practices, including targeting foreign-born and Hispanic consumers with limited or no access to credit, promising cheap, ready-to-build land and financing without proof of income. The lawsuit alleges that Colony Ridge uses specific financial and marketing strategies to attract illegal immigrants, such as selling plots of land for down payments of $500 with approximately 13% interest rates. The development has grown to around 70,000 residents.
March 14, 2024
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