Lux Living Kansas City Developments FAIL After Fed Indictment?!?

Once again we notice that the future doesn't look great for Kansas City's ponzi scheme style development and a former high flying builder who now faces federal charge.

Even better/worse . . .

Some of our bloggy denizens might blame this one one those tricky MBE/WBE contracts that always seem to bring out the worst in people . . . And yet still only produce a few sustainable local businesses. 

One more thing . . .

LUX LIVING HOSTS QUITE A FEW KANSAS CITY LUXURY PROJECTS THAT MIGHT NOW PROVE RISKIER GIVEN FEDERAL ENTANGLEMENTS!!! 

Of course, most of our local propaganda outlets and a few politicos are dedicated to telling us that everything is moving forward as planned . . . Except for nobody planned on a crackdown from the feds.

Nevertheless . . .  

Here's an apt summary liberated from behind the paywall . . .

"The principals of Lux Living, developers behind several halted luxury apartment projects in Kansas City, have been indicted on federal fraud charges. Vic Alston, Sid Chakraverty, and accountant Shijing "Poppy" Cao face accusations of conspiracy to commit wire fraud and multiple counts of wire fraud. The indictment alleges they falsified documents to inflate minority and women-owned business participation in St. Louis projects to secure millions in tax incentives. Although Lux Living's Kansas City projects, including Wonderland and Katz on Main, are under construction, the impact of these charges on their completion is unclear. The defendants could face up to 20 years in prison and hefty fines if convicted."

Read more via www.TonysKansasCity.com link . . .

Feds indict Lux Living owners on charges of defrauding St. Louis minority hiring program

The owners of one of Kansas City's and St. Louis' highest-profile development firms face federal fraud charges in an alleged scheme that officials say defrauded a St. Louis city minority and women's owned business program.

Lux Living principals behind part-finished KC apartments indicted for fraud - Kansas City Business Journal

Lux Living's principals this week were federally indicted in connection with an alleged scheme to defraud St. Louis' minority- and women-owned business enterprise program to obtain apartment tax incentives.

Developing . . . Or Not . . .