Homebuilder Sentenced to 50 Years in Prison for Hiding Money, Not Paying Restitution NBC 5 Dallas-Fort Worth
Table of Content
Building permit records show that Cole Luxury Homes has worked on 11 permitted projects. Unlock this free profileto update company info and see who's viewing your profile. We have built bridges, carved driveways out of mountain sides, and worked with public utility companies to direct services to remote construction sites. "On the original offense, essentially, Mr. Cole was using our victim's money to fund his lifestyle," Assistant District Attorney Jeff Swain said. "Among other things, he was using her money to pay for his auto racing expenses. Towson also found that Cole violated other probation restrictions by repeatedly traveling out of state without permission and by failing to tell the probation officer where he was working and living.
TypeContractorAccording to the The City of Keller, TX, the status of this license was at one point cancelled. TypeBuildingAccording to the The City of Colleyville, TX, the status of this license was at one point cancelled. If you are thinking of hiring Cole Luxury Homes, we recommend double-checking their license status with the license board and using our bidding system to get competitive quotes. Recognized as one of Cape Cod’s finest builders, Steven Cole Custom Homes & Remodeling combines meticulous attention to detail, clear communication, and expert craftsmanship with more than 30 years of experience. We understand that every homeowner has unique aspirations, and we treat every project as one of a kind. Through our collaborative approach, we work with our clients to elevate the appearance, comfort, use, and efficiency of their home, and deliver the home they’ve always wanted.
Notable Building Permits filed by Cole Luxury Homes
In the course of the sale, Cole represented to the buyer that the company was making money, with profits of about $125,000 annually for the past three years. However, records from Cole's tax returns indicated that he represented to the Internal Revenue Service that he was losing money every year, with a loss of over $400,000 in the last three years. During the hearing Monday, one witness testified that, last March, Cole sold him his outdoors and hunting business for more than $400,000. However, records from Cole’s tax returns indicated that he represented to the Internal Revenue Service that he was losing money every year, with a loss of more than $400,000 in the last three years. Brian Reiff had an entrepreneurial/entrepreneurial Studies degree from Southern Illinois University, Carbondale.
Texas builders can be criminally liable for failing to comply with financial bookkeeping requirements and misusing construction funds paid by the owner. While many district attorney offices are reluctant to prosecute construction industry fraud, some DA offices will seek criminal prosecution in egregious circumstances. As a result, a builder needs to be aware of what conduct could be considered criminal. "We gave Mr. Cole deferred adjudication from the outset in hopes that he would pay his restitution," Pruett said. Similarly, in May 2018, a builder, Joseph Charles “Chuck” Cole, contracted with an owner in Parker County to construct a residence, but misused the owner’s money.
Move In to Jackson Quality
The fraud came to light after seven liens totaling about $100,000 were filed against the dealership. In 2014, a contractor, Mr. Alexander, was convicted and sentenced to three years in prison for making a false statement to obtain property or credit. Alexander was the general contractor for a company that was hired to oversee construction for a used car dealership in Fort Worth. We are very detail-oriented and minutely examine every single aspect to ensure that work is thorough and build to last.
We want our customers to feel satisfied with the result, which is why we ensure that we keep all our customers in the loop throughout the process. No job is too big or small for us; we have the capacity to handle a big commercial project and work within your budget of one-room projects. The best way to use BuildZoom is to let us recommend contractors for your remodeling projects.
Chuck Cole
Our free bidding system will get you quotes from Cole Luxury Homes and 2 other top contractors. Explore our recently completed projects by clicking on either picture shown below. Two other victims from 2002 and 2008 testified that Cole embezzled from them related to construction projects, with amounts totaling over a million dollars.
"He had the money. He had over a million dollars he could have paid back when he was on probation." Through the years, we built a thorough reputation for superior quality and customer service. Now one of North Georgia and Western North Carolina's leading design-build firms, Brown Haven Homes is transitioning from building high-end custom homes... Brian Reiff has been working as an Executive in nearly every field he has touched.
Embezzling homebuilder's probation revoked; man sentenced to 50 years in prison
He succeeds in communicating effectively, and has a knack for timing his interventions just right. You can use our building permit search to see the contractors who are active in your neighborhood and the projects currently taking place. Urban living does not mean you have to sacrifice the quality of your home. Our extensive experience in building and remodeling luxury urban homes allows us to craft your dream without taking you away from the vibrant city living experience.
That were paid to the trustee in reliance on an All-Bills Paid Affidavit. As a matter of policy, BBB does not endorse any product, service or business. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.
He was convicted and placed on probation with deferred adjudication for misapplication of fiduciary property over $200,000 and ordered to pay over $1 million in restitution. The purpose of the Act is to protect those furnishing labor or materials for the construction or repair of property by requiring that funds are held in trust for all parties in the construction chain. The thought is that because most of the money builders receive from owners is typically owed to others – subcontractors and vendors – the builder holds the money in trust for those to whom it is owed.
Cole is also on deferred adjudication in Tarrant County for misapplication of fiduciary property of $100,000 to $200,000. In that offense, he embezzled money intended to build a home in Fort Worth. We may not realize it, but your floors lose the shine and luster with regular use over time. The experts at Chuck Cole Flooring LLC can help restore and renew the life your floors through our flooring services. We have more than 21 years of experience in assisting customers with all the flooring needs.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles. Although it isn't a regulatory requirement, you can ask your general contractor to provide evidence of workers' compensation and general liability insurance prior to hiring them. Their BuildZoom score of 0 does not rank in the top 50% of Texas contractors.
Because of the depth of information and severity of the consequences for builders, we’ll explore this topic in two articles. This article will deal with what trust funds are, and the consequences for the misapplication of those funds. BuildZoom combines license information on 3.5 million contractors with 270 million building permits, and over 135,000 reviews from property owners.
Comments
Post a Comment