The federal agencies are also checking into the relationship between CBL and Sen. Bob Corker, R-Tennessee, who is one of the firm's major investors, according to the report.
The Federal Bureau of Investigation and the Securities and Exchange Commission are focusing their examination of CBL & Associates Properties Inc. on whether officials at the Chattanooga, Tenn., company falsified information on financial statements to banks when applying for financing arrangements, the people said. Law-enforcement officials have talked to former CBL employees who allege the company inflated its rental income and its properties’ occupancy rates when reporting those figures to banks, the people said.
The report also indicates the investigation is being handled out of the FBI and SEC's Washington headquarters and not local offices, an indication that this is a high=profile probe.
2 comments:
This is the group who is spending tax dollars in Joplin. They have a TIF to repair their parking lot and other improvements prior to sale...
This country is so corrupt now I'm not sure it can be saved.
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