US fraud case against Homex hits roadblock
The U.S. Securities and Exchange Commission filed civil fraud charges in October against former executives of Homex, a Mexican construction company that was once the country's largest builder of affordable housing.
It accused the four executives of faking the sales of more than 100,000 homes to boost revenues by $3.3 billion - a fraud that, if proved, is believed to be the biggest in Mexican history.
But the case appears to have run aground because the agency hasn't been able to deliver a summons to the executives, according to court documents filed in San Diego federal court.
The procedural roadblock is the latest twist in a scandal that has roiled Mexico for years - part of the fallout from a massive, government-backed housing program whose collapse
