Texas Attorney General Ken Paxton filed a lawsuit on Friday against the East Plano Islamic Center (EPIC), Community Capital Partners (CCP) and several associated leaders, accusing them of running an illegal securities and land development scheme tied to a proposed 400-acre community known as „EPIC City.“
The lawsuit, filed in Collin County, follows a monthslong investigation and a referral from the Texas State Securities Board. The state alleges the defendants raised tens of millions of dollars while violating securities laws, misleading investors about the project’s nature and location, and misrepresenting how funds would be used.
„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,“ Paxton said. „I will relentlessly bring the full force of the law against anyone who thinks they can ignore the rules and hurt Texans.“
According to the Verified Petition, CCP sold investment interests for $40,000 to $80,000, despite failing to register the securities or qualify for federal exemptions.
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The state claims the group broadly solicited investors through meetings, social media and online promotions, which is activity not allowed under the exemptions they claimed.
Investigators also allege the developers failed to take reasonable steps to verify purchasers were accredited investors, with documentation missing or inadequate for a number of buyers.
The petition says the project was advertised as being „in the heart of Josephine, Texas,“ even after the city told developers in February 2025 that the land was not within its limits or utility district. Marketing materials allegedly continued to make the claim.
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The state further points to alleged promotional materials that appeared to target Muslim buyers, including early website language and videos describing EPIC City as the „epicenter of Islam in North America.“
Paxton’s office also alleges CEO Imran Chaudhary publicly promised he would take „not a cent“ in salary, but later signed a contract paying him $360,000 a year through a separate company, a compensation arrangement not disclosed in written offering materials.
Investigators allege more than $1 million in investor funds were withdrawn for general operating expenses, exceeding what offering documents described.
Texas Securities Commissioner Travis Iles claims EPIC entities sold securities without meeting registration or exemption requirements and referred the matter to Paxton after identifying „flagrant“ violations.
Paxton first announced his investigation in March, and sought the referral in October after uncovering additional concerns.
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Paxton is asking the court to halt all fundraising tied to the project, freeze assets, appoint a receiver, correct public statements and impose civil penalties of up to $20,000 per violation. The suit also seeks the return of investor funds.
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EPIC City, since rebranded as „The Meadow,“ was marketed as a master-planned development spanning Hunt and Collin counties. Court filings show hundreds of investors purchased units.
Fox News Digital has requested comment from EPIC, CCP and Paxton’s office.
The full lawsuit can be read here.
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