EXCLUSIVE: A Texas land developer admitted that the Colony Ridge business model relies on selling land to unqualified foreign buyers:
"We will not be able to sell our developments if each of our buyers have to have SS#’s."
I obtained his stunning admissions🧵
"We will not be able to sell our developments if each of our buyers have to have SS#’s."
I obtained his stunning admissions🧵
Scot Campbell is the dad of Colony Ridge’s loan servicer and the former chairman of the Texas Land Developers Association.
He admitted that it would "kill our industry" if "we have to qualify each buyer as to the buyer’s ability to repay" and check social security numbers.
He admitted that it would "kill our industry" if "we have to qualify each buyer as to the buyer’s ability to repay" and check social security numbers.
He also appeared to confirm that developments like Colony Ridge sell land to illegal aliens, writing “it was President Biden that opened the flood gates and allowed millions of people in without identification and no jobs.”
Colony Ridge tells buyers to "own land in the U.S."
Colony Ridge tells buyers to "own land in the U.S."
Campbell claimed that regulations would "make our future resale of foreclosed lots worth a lot less … because we will all be fighting over a few qualified buyers.”
Months later, Colony Ridge would be accused by the DOJ of churning buyers through a cycle of foreclosure.
Months later, Colony Ridge would be accused by the DOJ of churning buyers through a cycle of foreclosure.
Campbell wrote this email to the leadership of the TLDA, which lobbies on behalf of seller-finance companies, after @realDailyWire dropped our first Colony Ridge investigation.
He called our investigation ‘an attack on our industry’ despite seemingly confirming my report.
He called our investigation ‘an attack on our industry’ despite seemingly confirming my report.
But Campbell has ties to Colony Ridge — his daughter Gayle Campbell runs Loan Originator Services LLC, which processed loans for Colony Ridge and had office space in the development’s building.
She was named, but then dismissed, from the DOJ-CFPB lawsuit against Colony Ridge.
She was named, but then dismissed, from the DOJ-CFPB lawsuit against Colony Ridge.
TLDA also shares lobbyist Chuck Rice with Colony Ridge, and he was one of the recipients of Campbell’s email.
Rice has raked in as much as $368k from Colony Ridge and its lawyer and as much as $1.1 million from the TLDA, which appears to be his largest client.
Rice has raked in as much as $368k from Colony Ridge and its lawyer and as much as $1.1 million from the TLDA, which appears to be his largest client.
Read the investigation in @realDailyWire:
Texas Developer Admits Colony Ridge Relies On Bad Loans To Foreign Buyers
dailywire.com/news/texas-dev…
Texas Developer Admits Colony Ridge Relies On Bad Loans To Foreign Buyers
dailywire.com/news/texas-dev…
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