Two executives behind a string of real estate projects allegedly withheld returns on multimillion-dollar investments and kept a $1 million loan, according to a lawsuit from investor groups.
The complaint, filed Monday in the US District Court for the Southern District of California, accuses Ed Monce and Enrico Scolari of IM Home Companies LLC of using investors’ money for personal gain or to pay off other parties in a fraudulent scheme.
The investors—New Hall Investments LLC, Hall Investments LLC, and Hall Canal Investments LLC—said the defendants “engaged in a tortious conspiracy, with elements of or otherwise akin to a ...
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