What is flipping right of way? 2 investors have been investigated by the FBI for buying right of way near I-35East, and arguing that land delveopment deals increased the land’s value when the land was sold to TXDOT.
What happened to the 2 investors?
- 1 entered a guilty plea to one count of conspiracy to commit mail fraud
- 1 is awaiting trial
The amount garnered from the land transactions? 2 investors received $12.9 million above their purchase price