
Texas AG Ken Paxton Sues Colony Ridge Developer, Alleges Predatory Practices Targeting Illegal Immigrants
Texas Attorney General Ken Paxton has filed a lawsuit against the developers of Colony Ridge, accusing them of deceptive trade practices, including sales, marketing, and lending practices that enabled their business model. The lawsuit, filed in the Southern District of Texas, follows a months-long investigation by the Office of the Attorney General (OAG) into the rapidly growing housing development that allegedly preys on illegal immigrants with few resources to purchase or build a home. “Colony Ridge’s business model is predicated on churning land purchasers through a foreclosure mill,” reads the lawsuit filed on March 14. “Namely, Colony Ridge targets foreign-born and Hispanic consumers with limited or no access to credit with promises of cheap, ready-to-build land and financing without proof of income.”...
