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Ken Paxton Calls for Legal Action Following Securities Violations in EPIC City Development

Attorney General Ken Paxton announced that his office has identified evidence showing entities connected to the East Plano Islamic Center (EPIC) land development project, known as "EPIC City," violated both federal and state securities laws.

Paxton has requested that the Texas State Securities Board (TSSB) review the findings and refer the case back to his office to pursue legal action.

"After a thorough investigation, it has become clear that the developers behind EPIC City flagrantly and undeniably violated the law," Paxton said in a statement. "The bad actors behind this illegal scheme must be held accountable for ignoring state and federal regulations."

The Attorney General's Office launched an investigation into EPIC City in March and later expanded it to include document requests from local municipalities and affiliated organizations.

The investigation found that individuals and entities tied to the project engaged in conduct that breached state and federal securities regulations.

In order to move forward with litigation, Paxton's office must receive a formal referral from the TSSB. He has invited TSSB Chairman E. Wally Kinney and Commissioner Travis J. Iles to review the evidence and, if they agree with the findings, return the matter to the Attorney General's Office for legal action.

Paxton reaffirmed his commitment to upholding Texas law, emphasizing that the state will not tolerate "illegal schemes" that defraud investors or ignore regulatory standards.

Raeylee Barefield

Raeylee Barefield is a student at the University of Texas at Austin pursuing a degree in Government. She enjoys reading, writing, and cooking in her spare time.

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