Bad news for Miami-based developer Pinnacle Housing Group LLC: A state appellate court refused to lift a temporary suspension order barring it from receiving public funds after its affiliate admitted to fraud and misrepresentation.
Pinnacle develops affordable housing and relies on government funding and tax credits for its ventures. But its funding stream is in jeopardy after prosecutors said an affiliated company fraudulently pocketed millions meant to benefit low-income residents—a move that prompted administrative proceedings and a temporary suspension order by the Florida Housing Finance Corp.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]