As a CEO of an Austin-based real estate investment and development firm, I’ve spent more than two decades investing in transformative projects in communities throughout Texas. At American Ventures, our mission has always been to provide access to institutional-quality, investment-grade real estate opportunities for accredited investors, family offices, funds, and private equity firms. That mission continues to guide every decision that we make.
Today, my very life mission and lifelong work are actively being threatened by baseless accusations and a deeply damaging one-sided public narrative.
Recently, four investors filed a lawsuit after repeatedly and unsuccessfully pushing for early liquidity at the expense of their fellow investors and projects. While the lawsuit is distressing, the allegations are wholly without merit, and we vigorously defend our business and practices. There’s no factual basis whatsoever to the litigants’ claims. The filing is nothing more than the litigants’ attempt to advance their own personal gain and financial interests, at the expense of other investors and the projects.
Contrary to the litigants’ claims and subsequent media narrative, independent forensic accountant findings confirm there is no basis for any claim that investor funds were misused. Claims also suggest that project-related transactions were concealed from investors, yet following these accusations, more than 110 investors in American Ventures projects expressed full support and declared understanding of investment terms.
Not only have these accusations damaged my life’s mission and work, but it now threatens the much-needed developments we’re building throughout Central Texas. False and self-interested allegations are putting real economic development, jobs, and investor-backed projects at risk. The litigation threatens approximately $850 million in total development value and an estimated 1,000 permanent jobs across Central Texas.
These values mentioned are just not just any numbers. These are real statistics that benefit real communities across Texas who rely on these developments to enhance their quality of life and bring thousands of jobs, housing, and vital economic opportunities to their families and communities throughout the region.
Additionally, the litigants’ actions have put investor returns and timelines at risk. Currently, we serve more than 250 investors, more than one-third of whom are repeat investors. After this lawsuit was filed, instead of backlash, I was humbled to experience solidarity and encouragement from those very people I serve. My team and investors stood firmly beside me, united in conviction and commitment, and that resolve has only grown stronger.
As a founder, it’s my job to protect my investors and ensure this litigation has no further impact on the fundamentals or financial integrity of our projects. And together with the help of our extended partners, we have worked tirelessly to move these projects forward, despite the setbacks we’ve endured.
While I am beyond humbled and thankful for the outpouring support of my investor community, I am now calling on public support from the Texas business community, elected officials, and broader stakeholders to stand with us as we work to regain public trust and credibility.
Central Texas cannot afford to become collateral because of an unfounded business dispute. Collectively, we can keep the momentum going on these important projects that will transform Central Texas and make lasting impact for years to come.
Shravan Parsi, Founder and CEO, American Ventures
About American Ventures: American Ventures is a privately held real estate development and investment firm specializing in large-scale mixed-use, retail, hospitality, entertainment, and commercial projects in high-growth markets across Texas and the United States. Founded and led by CEO Shravan Parsi, the firm has built a strong track record of acquiring and developing real estate projects throughout Texas. American Ventures is known for developing transformational developments that act as economic catalysts for cities and regions, working in close partnership with municipalities, economic development corporations, and strategic partners.
SEC- and HUD-Investigated Fund Operator’s Bid to Silence Majority Female Partner Rejected in Dallas County
DALLAS, TEXAS — A Dallas County court today declined to grant emergency relief sought by Austin real estate operator Shravan Parsi and affiliated entities against Jane Withers Bolin, the 65% controlling General Partner of a HUD-insured multifamily project currently under scrutiny involving ongoing SEC and HUD-related matters.
The ruling marks a significant procedural defeat for Parsi, who sought emergency court intervention after Bolin spent more than a year raising concerns regarding financial reporting, audit failures, governance disputes, investor disclosures, and compliance issues tied to The Draper at Garland, a federally insured multifamily housing development financed through HUD’s 221(d)(4) loan program.
Parsi’s requested emergency relief attempted to restrict Bolin’s conduct and move the dispute rapidly toward arbitration. The court declined to issue a temporary restraining order and did not order immediate arbitration.
“This was never about disrupting a project,” Bolin said after the hearing. “This has always been about transparency, accountability, audit integrity, and protecting a federally insured asset and its investors.”
The dispute centers around GFNT Opportunity II LP and its affiliated entities, including disputes over: – HUD audit and Annual Financial Statement compliance, – disputed authority and governance rights, – alleged withholding of books and records, – investor and capital-account concerns, – questioned project disbursements, – and communications with federal regulators.
Bolin, who serves as a named Section 50 party under the HUD Regulatory Agreement, has argued that she possesses independent obligations tied to the project’s federal compliance structure and cannot legally or practically be cut out of communications involving HUD oversight, audits, or regulator-facing disclosures.
Court filings submitted on behalf of Bolin argued that the dispute extends far beyond a routine private partnership disagreement and directly implicates federal compliance obligations surrounding a HUD-insured asset.
The court’s refusal to grant emergency relief came after extensive argument regarding: – disputed governance authority, – audit chronology, – regulator communications, – HUD compliance obligations, – and the rights and obligations of controlling GP principals under the project’s governing documents.
The case has drawn increasing attention because of overlapping issues involving: – HUD oversight, – SEC-related cooperation, – audit delays, – and allegations of financial and governance irregularities tied to the operation of the project.
No findings of liability or wrongdoing have yet been made by any court or agency, and the underlying disputes remain ongoing.
Bolin stated that she intends to continue cooperating fully with regulators and pursuing transparency regarding project finances and operations.
“I am not going anywhere,” Bolin said. “My obligation is to the truth, to the integrity of the project, and to the investors and agencies relying on accurate information.”
SEC- and HUD-Investigated Fund Operator’s Bid to Silence Majority Female Partner Rejected in Dallas County
DALLAS, TEXAS — A Dallas County court today declined to grant emergency relief sought by Austin real estate operator Shravan Parsi and affiliated entities against Jane Withers Bolin, the 65% controlling General Partner of a HUD-insured multifamily project currently under scrutiny involving ongoing SEC and HUD-related matters.
The ruling marks a significant procedural defeat for Parsi, who sought emergency court intervention after Bolin spent more than a year raising concerns regarding financial reporting, audit failures, governance disputes, investor disclosures, and compliance issues tied to The Draper at Garland, a federally insured multifamily housing development financed through HUD’s 221(d)(4) loan program.
Parsi’s requested emergency relief attempted to restrict Bolin’s conduct and move the dispute rapidly toward arbitration. The court declined to issue a temporary restraining order and did not order immediate arbitration.
“This was never about disrupting a project,” Bolin said after the hearing. “This has always been about transparency, accountability, audit integrity, and protecting a federally insured asset and its investors.”
The dispute centers around GFNT Opportunity II LP and its affiliated entities, including disputes over: – HUD audit and Annual Financial Statement compliance, – disputed authority and governance rights, – alleged withholding of books and records, – investor and capital-account concerns, – questioned project disbursements, – and communications with federal regulators.
Bolin, who serves as a named Section 50 party under the HUD Regulatory Agreement, has argued that she possesses independent obligations tied to the project’s federal compliance structure and cannot legally or practically be cut out of communications involving HUD oversight, audits, or regulator-facing disclosures.
Court filings submitted on behalf of Bolin argued that the dispute extends far beyond a routine private partnership disagreement and directly implicates federal compliance obligations surrounding a HUD-insured asset.
The court’s refusal to grant emergency relief came after extensive argument regarding: – disputed governance authority, – audit chronology, – regulator communications, – HUD compliance obligations, – and the rights and obligations of controlling GP principals under the project’s governing documents.
The case has drawn increasing attention because of overlapping issues involving: – HUD oversight, – SEC-related cooperation, – audit delays, – and allegations of financial and governance irregularities tied to the operation of the project.
No findings of liability or wrongdoing have yet been made by any court or agency, and the underlying disputes remain ongoing.
Bolin stated that she intends to continue cooperating fully with regulators and pursuing transparency regarding project finances and operations.
“I am not going anywhere,” Bolin said. “My obligation is to the truth, to the integrity of the project, and to the investors and agencies relying on accurate information.”
SEC- and HUD-Investigated Fund Operator’s Bid to Silence Majority Female Partner Rejected in Dallas County
DALLAS, TEXAS — A Dallas County court today declined to grant emergency relief sought by Austin real estate operator Shravan Parsi and affiliated entities against Jane Withers Bolin, the 65% controlling General Partner of a HUD-insured multifamily project currently under scrutiny involving ongoing SEC and HUD-related matters.
The ruling marks a significant procedural defeat for Parsi, who sought emergency court intervention after Bolin spent more than a year raising concerns regarding financial reporting, audit failures, governance disputes, investor disclosures, and compliance issues tied to The Draper at Garland, a federally insured multifamily housing development financed through HUD’s 221(d)(4) loan program.
Parsi’s requested emergency relief attempted to restrict Bolin’s conduct and move the dispute rapidly toward arbitration. The court declined to issue a temporary restraining order and did not order immediate arbitration.
“This was never about disrupting a project,” Bolin said after the hearing. “This has always been about transparency, accountability, audit integrity, and protecting a federally insured asset and its investors.”
The dispute centers around GFNT Opportunity II LP and its affiliated entities, including disputes over:
– HUD audit and Annual Financial Statement compliance,
– disputed authority and governance rights,
– alleged withholding of books and records,
– investor and capital-account concerns,
– questioned project disbursements,
– and communications with federal regulators.
Bolin, who serves as a named Section 50 party under the HUD Regulatory Agreement, has argued that she possesses independent obligations tied to the project’s federal compliance structure and cannot legally or practically be cut out of communications involving HUD oversight, audits, or regulator-facing disclosures.
Court filings submitted on behalf of Bolin argued that the dispute extends far beyond a routine private partnership disagreement and directly implicates federal compliance obligations surrounding a HUD-insured asset.
The court’s refusal to grant emergency relief came after extensive argument regarding:
– disputed governance authority,
– audit chronology,
– regulator communications,
– HUD compliance obligations,
– and the rights and obligations of controlling GP principals under the project’s governing documents.
The case has drawn increasing attention because of overlapping issues involving:
– HUD oversight,
– SEC-related cooperation,
– audit delays,
– and allegations of financial and governance irregularities tied to the operation of the project.
No findings of liability or wrongdoing have yet been made by any court or agency, and the underlying disputes remain ongoing.
Bolin stated that she intends to continue cooperating fully with regulators and pursuing transparency regarding project finances and operations.
“I am not going anywhere,” Bolin said. “My obligation is to the truth, to the integrity of the project, and to the investors and agencies relying on accurate information.”
The litigation remains pending in Dallas County.
SEC- and HUD-Investigated Fund Operator’s Bid to Silence Majority Female Partner Rejected in Dallas County
DALLAS, TEXAS — A Dallas County court today declined to grant emergency relief sought by Austin real estate operator Shravan Parsi and affiliated entities against Jane Withers Bolin, the 65% controlling General Partner of a HUD-insured multifamily project currently under scrutiny involving ongoing SEC and HUD-related matters.
The ruling marks a significant procedural defeat for Parsi, who sought emergency court intervention after Bolin spent more than a year raising concerns regarding financial reporting, audit failures, governance disputes, investor disclosures, and compliance issues tied to The Draper at Garland, a federally insured multifamily housing development financed through HUD’s 221(d)(4) loan program.
Parsi’s requested emergency relief attempted to restrict Bolin’s conduct and move the dispute rapidly toward arbitration. The court declined to issue a temporary restraining order and did not order immediate arbitration.
“This was never about disrupting a project,” Bolin said after the hearing. “This has always been about transparency, accountability, audit integrity, and protecting a federally insured asset and its investors.”
The dispute centers around GFNT Opportunity II LP and its affiliated entities, including disputes over:
– HUD audit and Annual Financial Statement compliance,
– disputed authority and governance rights,
– alleged withholding of books and records,
– investor and capital-account concerns,
– questioned project disbursements,
– and communications with federal regulators.
Bolin, who serves as a named Section 50 party under the HUD Regulatory Agreement, has argued that she possesses independent obligations tied to the project’s federal compliance structure and cannot legally or practically be cut out of communications involving HUD oversight, audits, or regulator-facing disclosures.
Court filings submitted on behalf of Bolin argued that the dispute extends far beyond a routine private partnership disagreement and directly implicates federal compliance obligations surrounding a HUD-insured asset.
The court’s refusal to grant emergency relief came after extensive argument regarding:
– disputed governance authority,
– audit chronology,
– regulator communications,
– HUD compliance obligations,
– and the rights and obligations of controlling GP principals under the project’s governing documents.
The case has drawn increasing attention because of overlapping issues involving:
– HUD oversight,
– SEC-related cooperation,
– audit delays,
– and allegations of financial and governance irregularities tied to the operation of the project.
No findings of liability or wrongdoing have yet been made by any court or agency, and the underlying disputes remain ongoing.
Bolin stated that she intends to continue cooperating fully with regulators and pursuing transparency regarding project finances and operations.
“I am not going anywhere,” Bolin said. “My obligation is to the truth, to the integrity of the project, and to the investors and agencies relying on accurate information.”
The litigation remains pending in Dallas County.