Preview: Complaints Accompany VEDC Chapter 11 Filing

One day before the Valley Economic Development Center declared Chapter 11 reorganization on July 2, a lawsuit was filed against it by a company claiming that its property was fraudulently conveyed to the VEDC apparently for free. What’s particularly unusual is that both organizations were headed by the same man: Roberto Barragan. The latest lawsuit is one of a handful claiming questionable financial stewardship during the time Barragan led the VEDC. Read the full story in the July 22 issue of the San Fernando Valley Business Journal.