Paul cheng dallas

The two men, both 36 years old, controlled Guaranty Federal Savings in Dallas from to After a three-month trial, a Dallas jury convicted the two of bank and wire fraud, misapplication of funds, false bookkeeping entries and several counts of transporting money acquired through fraud across state lines.

The jury agreed with Keith M. Fleischman, a Government prosecutor, that Mr. Cheng and Mr. Heath had conspired to obtain a false appraisal on a tract of land near Jacksonville, Fla. Business Jail Term in Savings Case. View on timesmachine. Since the deal soured, no other deal seems to have yet materialized.

Paul Cheng is an interesting character. As part of the savings and loan scandal of the s, Paul Cheng and partner Edward Heath were convicted in and sent to prison for 30 and 20 years respectively for their role in the collapse of Guaranty Federal Savings. But the connection is there if you look. The principals for Pacific Realty? A few years after serving just six of his thirty year sentence, Mr. Cheng was acquiring land in in sleepy Lavon, Texas. The land would ultimately result in the Grand Heritage development of 5, new homes.

Herbert Hunt , who with his brother Nelson Bunker tried to corner the silver market in the late s. Small world. For more detail on Mr. For a write-up after my own heart on the Hunts, click here. The church will retain some parking rights and will use the proceeds to restore their small gem of a building. I had a nice chat with Michael Nazerian of family-run Exxir Capital who have owned an unremarkable s apartment block at Hall and Carlisle for about seven years.

They feel that now is the time to develop the property into something special. Their goal is to create a space with architectural interest not another beige shoebox that adds to the walkability of the area and connects residents with Turtle Creek, the Katy Trail and Lee Park.

In order to create some competitive creativity, they charged three offices of their architects to come up with separate concepts for the site that would include ish floors with a mix of residential with ground floor retail and restaurant space. Armed with these conceptual designs, Nazerian invited the neighborhood on June 5 to sip champagne and nosh on nibbles while viewing and commenting on the conceptual designs — both good and bad.

And did they ever. Nazerian said that local residents had many questions and comments that were captured and will be used to find tune their plans. He felt a rough estimate of the vibe of the crowd pegged 75 percent as favoring some type of development with the remainder either not liking anything they saw or not wanting any redevelopment of any kind.

Talking to the neighbors is a smart move. Locals can kill or embrace a new project that seeks a zoning variance, as this one does. We spoke of the layered architecture that European cities enjoy with their centuries of buildings. Some, like Paris, decided to completely rework the city versus London that after the fire in toyed with a Paris-like planned city but decided to put the roads back where they were.

Hot off the Press: Last night I was informed a deal went through for another development on Carlisle and Bowen that will see the Turtle Creek Terrace complex make way for a pair of mid-rise rentals. One, a proposed story that will be more luxe with the second six-story being smaller, more affordable units. Remember: Do you have an HOA story to tell? A little high-rise history? Shoot Jon an email.

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