A Southern California developer recently found to have committed of fraud and forgery will potentially face the scrutiny of City Hall concerning current and future projects in Santa Monica.

On Friday, a Los Angeles Superior Court Judge ruled local developer Neil Shekhter, founder and CEO of NMS Properties, committed a “broad variety” of fraud and forgeries, including providing a fabricated contract to the court, as well as destroyed evidence. The case surrounded a joint venture between NMS and hedge fund AEW and concerns seven properties in Santa Monica, one in Los Angeles and one in West Hollywood.

Because of the ruling, Shekhter will cede control of the nine properties.

Read More: http://smdp.com/nms-to-lose-control-of-local-properties/158871