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<title>Inside &#x26;#x2018;Shangri-La&#x26;#x2019; homeless scam as taxpayer millions bankroll jets, mansions and luxury excess &#x26;#x2014; and Newsom won&#x26;#x2019;t cut ties</title>
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<description>Borrowing from novelist James Hilton, who coined the word &#x26;#x201C;Shangri-La&#x26;#x201D; to describe a Tibetan utopia in a 1933 novel, Franklin Roosevelt gave that name to the peaceful retreat we know as Camp David. For California Gov. Gavin Newsom and Los Angeles Democrats, Shangri-La hasn&#x26;#x2019;t become synonymous with a place that connotes peace on earth. It stands for a hellish homeless housing nightmare, eye-popping alleged fraud, and the ease and scale with which alleged con-artists rip off taxpayers. In October, federal agents arrested Cody Holmes, the 31-year-old former CFO of Shangri-La Industries, a downtown Los Angeles-based developer who was supposed to...</description>
<author>NY Post</author>
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<pubDate>Mon, 9 Feb 2026 06:10:20 GMT</pubDate>
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