Real estate executives charged with defrauding program

Neither Taylor nor his attorney immediately responded to a request for comment.

- 

ACTING U.S. Atty. Bill Essayli demanded accountability over “misuse” of funds.

(PATRICK T. FALLON AFP/Getty Images)

The Westside Current online publication reported on the Cheviot Hills sale in 2024, disclosing that Weingart paid more than double what the seller paid.

Prosecutors said they were investigating what the city and Weingart knew about Taylor’s actions. Kevin Murray, Weingart’s president and chief executive, did not immediately respond to a request for comment. When asked about the transaction in August, he said he had “no prior relationship with the seller and no continuing relationship” and that taxpayers paid fair market value for the property.

In a statement, Los Angeles Mayor Karen Bass said her “administration has zero tolerance for corruption-period.”

“We're working with the U.S. attorney's office to ensure that anyone who engages in fraud against the city will face the full force of the law and my administration’s unwavering commitment to accountability,” Bass said.

In the second case, Cody Holmes, 31, a Beverly Hills man who was the chief financial officer of affordable housing developer Shangri-La, was arrested Thursday morning for his role in another Homekey project.

The state paid $25.9 million in Homekey money to affordable housing developer Shangri-La Industries LLC to convert a building in Thousand Oaks into homeless housing.

Prosecutors said Holmes and Shangri-La submitted fake balance sheets to the state, overstating the cash it had.