Overview
- Texas Attorney General Ken Paxton filed a Collin County lawsuit against the East Plano Islamic Center, Community Capital Partners, and several leaders, alleging an illegal securities and land-development scheme tied to the project rebranded as The Meadow.
- The suit seeks to halt all fundraising, freeze assets, appoint a receiver, require corrective statements, impose civil penalties of up to $20,000 per violation, and return investor funds.
- According to the petition, CCP sold $40,000–$80,000 investment units to hundreds of buyers without registering the securities, improperly relied on exemptions, and failed to verify that purchasers were accredited investors.
- State filings say marketing misrepresented the project’s location as being in the heart of Josephine and used materials that targeted Muslim buyers, including language describing an “epicenter of Islam in North America.”
- Investigators allege more than $1 million in investor funds went to general operating expenses beyond offering descriptions and that a $360,000 annual CEO compensation arrangement was not disclosed in written materials.