Colony Ridge’s Financial Ties to Pro-Toth PAC Raise Questions
Over $300,000 to oppose Dan Crenshaw.
Woodforest National Bank CEO, who is also funding the Pro-Steve Toth super-PAC, Alamo Freedom Fighters PAC, provided a promissory note to the highly controversial Colony Ridge residential development while serving as the CEO of the bank’s parent organization, Woodforest Financial Group.
Robert Marling has been the primary funder of a pro-Steve Toth super PAC called Alamo Freedom Fighters PAC to the tune over over $300,000. The PAC specifically opposes Congressman Dan Crenshaw:
Toth is backed by Robert Marling, a conservative megadonor and banker in The Woodlands who seeded a pro-Toth super PAC, Alamo Freedom Fighters PAC, with $250,000. Marling is the PAC’s only disclosed donor; thus far, it has spent nearly $290,000 in anti-Crenshaw ads and mailers.
Marling is also CEO of Woodforest National Bank which, according to documents obtained by Current Revolt, gave a promissory note (loan) to the highly controversial Colony Ridge development:
Colony Ridge has faced recent controversy for predatory lending and sales practices, specifically with “bait-and-switch” marketing and selling of homes, allegedly to illegal aliens, in underdeveloped and flood-prone lots without infrastructure like water, sewer, or electricity.
On February 10th, a lawsuit against Colony Ridge by Texas Attorney General Ken Paxton was settled to the tune of $68 million. Colony Ridge also has a three-year freeze on new residential plats, reforming sales, marketing, and lending practices.
Texas Attorney General Ken Paxton:
“Under my watch, Texas will never be a sanctuary for illegals. Colony Ridge endangered American citizens by allowing illegal aliens to run rampant on its streets, in its schools, and in its community. Now, it’s time for those responsible to pay a steep cost for their unlawful actions,” said Attorney General Paxton. “My office will continue to bring the full force of the law against anyone who threatens the safety of our state or creates a safe harbor for illegals.” - AG Ken Paxton
Colony Ridge developers previously denied the allegations surrounding selling to illegal aliens.
Many people are asking why Marling what the crossover is between loaning money to an alleged illegal alien development and opposing Congressman Dan Crenshaw.