A former minor-league baseball player and his father have been charged with fraud related to the failure of an Arizona sports complex, which resulted in losses exceeding $280 million for municipal bondholders. The U.S. Securities and Exchange Commission (SEC) announced that it has charged three individuals from Arizona for defrauding investors in a $284 million municipal bond offering that financed the sports complex. The complex, known as Legacy Park, was operated by the accused individuals, who are now facing legal repercussions for their actions that allegedly misled investors and contributed to the financial failure of the project.
Father, son accused of defrauding bond investors in Mesa sports complex https://t.co/YEYYqTO3NQ
Father And Son Charged In $284M Bond Fraud That Built Sprawling Sports Complex https://t.co/o4lnWBbuai
Former operators of Mesa's Legacy Park sports complex charged with fraud https://t.co/Hbg32tL2WQ