Herald Times - "Investors see fast-bucks plan unravel" (2-15-07)

"About $70 million in pre-construction loans were taken in their names by Construction Compliance Inc., the St. Petersburg company that was building the homes in Florida."

"When the builder stopped paying contractors, the investors got hit by liens. When the builder collapsed, the institution financing the loans, Bradenton's Coast Bank, turned to investors for repayment, despite promises from CCI and Seashore that the home builder would carry all interest payments until the nearly 500 homes were completed."