PLANO, Texas — According to a press release Friday, Attorney General of Texas Ken Paxton has filed a lawsuit against the East Plano Islamic Center (EPIC).
Paxton alleges that the organization engaged in an illegal land development scheme that was in violation of Texas securities law during the development of its EPIC City project. He began an investigation into EPIC in March 2025 and sought a referral from the Texas State Securities Board (TSSB) in October after finding what he said are ‘blatant violations of federal and state securities laws and regulations.’ Following this referral from TSSB, Paxton chose to sue EPIC and Community Capital Partners (CCP), an entity that was allegedly created to help assist in the illegal scheme.
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In the aforementioned press release, Paxton laid out the basis for his lawsuit. He stated that CCP violated several securities laws, which includes fraudulent practices while soliciting funds. Paxton also asserts that the developers took funds from the project for their own personal benefits. Finally, he said that more than 10 percent of investors who bought securities in the project were not verified as ‘accredited investors’ by CCP, which is required by law.
Paxton issued the following statement in regards to the lawsuit. “The leaders behind EPIC City have engaged in a radical plot to destroy hundreds of acres of beautiful Texas land and line their own pockets,” said Paxton. “I will relentlessly bring the full force of the law against anyone who thinks they can ignore the rules and hurt Texans. The unlawful land project known as EPIC City will be stopped, and those responsible will be barred from ever creating another fraudulent operation like this again.”…