A proposed luxury development in Central Texas turned out to be a trap, a beacon for investment in a fraudulent plan that was never intended to become reality. The 400-acre waterfront development was supposed to feature cobblestone streets, shops, restaurants, and parks, but it was all a ruse.
Fraudulent Scheme
According to Dripping Springs attorney Tanner Neidhardt, the defendants, Gopala Krishnan and Sakthivel Gounder, were ordered to pay more than $400 million in damages to Energy Commissioning Inc., a Georgetown business that sold them the land and was hired to bring infrastructure to the site.
The jury in Williamson County made the ruling last week, bringing an end to the case. This is not the first time the two Frisco businessmen have been involved in a fraudulent scheme, according to court records.
Original reporting: Dallas TX News (HLL/CB) — read the source article.
