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Corporate

Mar. 7, 2017

Mexico-based homebuilder reaches fraud settlement

The Securities and Exchange Commission said the company's new management was complying with investigations.

By Steven Crighton
Daily Journal Staff Writer

A prominent Mexico-based homebuilding company accused of falsely reporting the sale of more than 100,000 homes to boost company revenues reached a settlement with the Securities and Exchange Commission on Friday.

Desarrolladora Homex, S.A.B. de C.V. knowingly overstated its revenues, the number of homes it sold, and other related financial items between fiscal years 2010 and 2012, the SEC wr...

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