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| Breaking News April 13, 2010 |
15 months later, FDI releases Lennar Top Ten Red Flags for Fraud 2—The Sequel
Click Here to read the report.
Investigation includes claims from bankrupt joint-venture partners, misleading
financial statements, thousands of unpaid subcontractors and
2 Fs and a D- minus from Better Business Bureau
Click Here to read the Press Release.
BONUS: Special, never before seen 9:30 footage from FDI documentary:
Too Big to go to Jail, the Lennar Story
Click Here to see footage.
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Lennar (NYSE:LEN) fails to pay state tax lien of $88,000 at the same time they await a 320 million dollar federal tax refund. Lennar, a walking contradiction. Click Here for press release. Click Here to see the tax warrant.
FDI also points out the recent, record stock option gifts given to certain Lennar (NYSE:LEN) executives at the same time the company stacks up losses. Click Here for chart of recent, 2009 stock grants.
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Click here to read how developer took part in 'commercially repugnant tactics' while backing out of memorial park plans. |
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How Lennar Corporation treats their joint ventures exactly like a Ponzi scheme. |
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How Lennar boasted of improving their 2008 cash reserves from 42 million to 1.1 billion but failed to mention that it came at the expense of approximately 5000 victims through a catastrophic bankruptcy. |
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How the company relies
on material non-disclosures to conceal its true financial condition. |
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| To see the YouTube video where Barry Minkow of the Fraud Discovery Institute outlines the Lennar "pattern of behavior" for fraud, click below. |
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The Fraud Discovery Institute, Inc. released today the Top 10 Red Flags for Fraud at Lennar Corporation, the country's second largest homebuilder. Through the release of a 30 page report, a YouTube video, and a website the consumer advocate group is drawing attention to multiple alleged fraudulent activities that have become a pattern of behavior. |
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