In the complaint, The Commission alleged that "From at least 2010 through 2013, and acting, with scienter, through certain of its then senior officers and employees, Homex improperly recognized billions of dollars of revenue. In particular, Homex systematically and fraudulently reported revenue from the sale of tens of thousands of homes annually that it had neither built nor sold. Homex personnel perpetrated this fraud by manually entering false information into its internal accounting and financial systems."

On March 3, 2017 in a litigation release, the SEC announced that Mexico-based homebuilding company Desarrolladora Homex S.A.B. de C.V. has agreed to settle charges. According to the SEC: allegedly, "Homex, one of the largest homebuilders in Mexico at the time, inflated the number of homes sold during the three year period by approximately 317 percent and overstated its revenue by 355 percent (approximately $3.3 billion)."