The state of Texas has lodged a lawsuit targeting Colony Ridge for allegedly perpetrating a scheme that involves selling properties while misleading buyers about their condition. "Colony Ridge, Inc. (CRI), Colony Ridge Development, LLC (CR Development), Colony Ridge BV, LLC (CR Bella Vista), Colony Ridge Land, LLC (CR Land), T-Rex Management, Inc. (T-Rex), (collectively, 'Colony Ridge') and their owner, John Harris, have built a sprawling community northeast of Houston on a foundation of false, misleading, and deceptive sales, marketing, and lending practices," the suit claims. The suit describes a "pernicious business model" in which a high rate of defaults perpetuates...