These warning signs preceded StateView Homes epic collapse niagarafallsreview.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from niagarafallsreview.ca Daily Mail and Mail on Sunday newspapers.
After three of its lenders learned of a multi-million dollar fraud accusations and demanded repayment of almost $200 million in loans, StateView Homes has agreed to the appointment of a third-party receiver to manage the potential sale of several uncompleted townhome developments, throwing the future of hundreds of pre-sold homes into doubt.
The lenders are demanding repayment of $167.8-million and $4-million that was advanced to StateView for a variety of residential and commercial properties
A major Ontario home developer is facing startling allegations from one of the big five banks that it orchestrated a "highly sophisticated," year-long fraud totalling over $37 million.