Episode
Four Hundred Million Dollar Fraud Verdict | Austin News
- Published
- Jul 30, 2026
- Duration seconds
- 105
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Summary
A Texas jury just slapped a $399 million judgment on two Dallas businessmen for fraud and breach of contract — a staggering sum that includes $300 million in punitive damages. The case centers on Energy Commissioning Inc., a Georgetown-based firm that loaned the duo $68 million to buy land for a housing project — which later ballooned into a $5 billion “city” dream with canals and skyscrapers. Reality hit hard: the land wasn’t canal-ready, and the businessmen were secretly under SEC investigation while lying about access to billions. The owner of Energy Commissioning lost everything — even his home — and now lives in a mobile home. The land? Already sold to another developer. Listen in comfort: Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN: [email protected] This is an automated, high-level news summary based on public reporting. Report issues to [email protected]. View sources & latest updates: https://sources.thednn.ai/b7c57bdfe8bd75c4