Federal Task Force Arrests 2 LA Developers for $50m Failure to Fraud

As part of the Proper Task Force that investigates the prosecution of the $24 billion designated by the Holiness in California, the Department of Justice has revealed that the Criminal Government is wrongly bought by the Federal Government, State and Local Repormers set aside for homelessness.

“This is not an innocent crime,” said Akil Davis, director of the FBI, “Since millions of dollars are missing, they could have been used to address the homeless or other priorities in California.”

Cody HOLMES, 31, of Beverly Hills was arrested and charged with Federal Felony Fraud on Thursday for allegedly receiving $25.9 million in unclaimed Grant funds.

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According to court documents, the California Department of Housing and Community Development paid approximately $26 million to SHANGRI-LA Industries LLC in October 2022 to be used to purchase, California.

The government alleges that Holmes, as CFO of SHANGRI-LA, submitted false bank documents and balance sheets to obtain the grant money. Prosecutors said Holmes lived a lavish lifestyle and used some homeless money to pay $2 million toward American Express cards that included purchases at “well-known” merchants.

“If you steal money or allow it to be stolen, we will find you, and we will prosecute you,” said Bill Essayli, acting attorney for California’s Central District.

FOX News has reached out to Shangri-LA for comment.

In a separate story, federal investigators arrested 44-year-old Steven Taylor of Los Angeles, and charged him with seven counts of bank fraud, one count of identity theft and one count of embezzlement.

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Miracle says Taylor provided false bank statements and records to acquire properties throughout LA. Most recently, prosecutors said he was involved in a 2023 scheme in which he provided false documents to purchase property in La’s Cheviot Hills Hills for $11 million. He then repurchased the property for $27 million.

San Francisco, CA – OCTOBER 9: A homeless man is seen in the San Francisco area of ​​California, United States on October 9, 2022. (Photo by Tayfun Coskun / Anadolu Agency via Getty Images) (Tayfun coskun / anadolu agency via Getty Images / Getty Images)

At the time of purchase, the building was being used as a senior living center. Federal prosecutors said that Tayge Taylor was “badly coordinated” that he intended to renovate and renovate the hill’s houses but was already “under contract to sell the shelob’s property.”

The DoJ says the property’s buyer is a well-known La. named “Weingert,” who used federal and local funds to make the purchase. Essayli says Weicart is part of the investigation.

Weingart’s longtime CEO is California State Sen. Kevin Murray. Murray was not specifically named or charged. FOX has reached out to WeingArt and Murray for comment.

After the charges were announced, Mayor Karen Bass issued a statement saying, “My administration has a tolerance for mental deception all at once.”

Homeless tents are seen on August 16, 2023 at the skid row seat in Los Angeles, California, where homelessness has seen a 10 percent change compared to the previous year. A recent report from the Los Angeles Holy Services Authority revealed ES ((Photo by Frederic J. Brown / AFP via Getty Images) / Getty Images)

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In April of this year, Essayli announced the launch of the home fraud and fraud fraud – aimed at investigating how the State spent $ 24 billion between the financial years 2018 and 2023.

“The authorities of the State of California failed to provide reasonable oversight to the people who received most of these funds, and they had no answers that the public wanted to answer. Yes, that’s what that means.