Housing developers used city backed property as 'personal bank account,' lawsuit alleges
almost 6 years in LA Times
Los Angeles City Atty. Mike Feuer on Wednesday sued several housing developers, alleging they misappropriated millions of dollars of public money. The lawsuit stems from a $2.3 million loan issued by the city in 1999 to finance the acquisition and development of Richard N. Hogan Manor, a 51-unit housing project at 5500-5528 South Figueroa Street.