Two Southern California men charged and arrested for homelessness funding fraud
2 days ago
- #homelessness
- #corruption
- #fraud
- Two Southern California men arrested in separate cases related to homelessness funding fraud.
- Cody Holmes, 31, of Beverly Hills, charged with mail fraud for allegedly obtaining $25.9 million in state grants using fake bank records.
- Holmes accused of using over $2 million of grant money for personal expenses, including luxury purchases.
- Steven Taylor, 44, of Brentwood, charged with bank fraud, identity theft, and money laundering for using fake bank statements to secure loans.
- Taylor allegedly misled lenders about property use, including a $27.3 million double-escrow deal involving public funds for homeless housing.
- If convicted, Taylor faces up to 30 years per bank fraud count, 10 years for money laundering, and a mandatory 2 years for identity theft.
- Homelessness Fraud and Corruption Task Force investigating misuse of $24 billion in state funds meant to address homelessness.