2 Lawsuits Filed Against Hill Williams Development Corp.
Two groups filed lawsuits Wednesday in Orange County Superior Court against Hill Williams Development Corp., an Anaheim Hills company that since 1989 has raised more than $80 million from 6,000 investors to build houses and condominiums.
One of the filings is a class-action suit demanding an accounting of how the money was used. Hill Williams announced last month a temporary suspension of monthly dividends to its investors, most of whom are Orange and San Diego County residents.
The second lawsuit, filed on behalf of two of the investors, charges Hill Williams with fraud and deceit.
Donald Williams, the company’s president, blamed the suspension of dividends on a slowdown in the real estate market and has said that the investments themselves are not at risk.
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