A former chief financial officer of Granville Homes has filed a whistleblower complaint against prominent Fresno developer Darius Assemi, alleging that Assemi misused company funds to secretly buy back a ranch his family had lost to creditors.
Accusations of Wrongdoing
According to the complaint, Assemi used a longtime business associate as a front to keep his name off of public land records and diverted as much as $16 million in corporate cash to purchase the 330-acre Mission Ranch in southwest Fresno.
The complaint, filed by Ryan Toncheff, also alleges that Assemi fired him after he refused to certify financial statements that he believed were false and warned that Granville Homes was insolvent.
Financial Irregularities
Toncheff claims that Granville Homes is closely tied to the Assemi family’s agricultural operations, which have faced significant financial challenges, including a $700 million default in 2024.
Assemi has denied the allegations, describing Toncheff as a disgruntled employee with performance issues and stating that Granville Homes remains financially healthy.
The complaint brings claims of wrongful termination, whistleblower retaliation, fraud, and unfair business practices, and names Granville Homes and Assemi personally as defendants.
Original reporting: Fresnoland — read the source article.
