The Securities and Exchange Commission on Monday filed a lawsuit against Victorville, Calif., a city official, the Southern California Logistics Airport Authority, underwriter Kinsell, Newcomb & DeDios and others, charging them with defrauding investors by inflating valuations of property in connection with a 2008 bond offering.

Victorville assistant city manager and former director of economic development Keith C. Metzler, KND owner J. Jeffrey Kinsell, and KND vice president Janees L. Williams were responsible for false and misleading statements made in the airport authority’s bond offering, the SEC alleged. The authority was using tax-increment bonds secured solely by increases in property tax values for a variety of projects, including four new aircraft hangars.

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