If the industry around homelessness were solved, the industry would be out of business.
The federal government gives money to the state for homelessness and it is now acting to clean up fraud.

Federal prosecutors charged two real estate executives, in two separate cases, with defrauding California's Homekey program to convert hotels into shelters for the homeless, allegedly misappropriating millions. Steven Taylor, 44, allegedly used fake bank statements to flip a Cheviot Hills nursing home property for $16-million profit using state and city funds. Cody Holmes, 31, allegedly spent over $2 million in grant money on luxury retailers, transferring funds from his developer to personal accounts.

The U.S. Department of Justice on Thursday announced charges against two real estate executives accused, in unrelated cases, of misappropriating millions of dollars in state funds allocated to combat homelessness.

Prosecutors charged Brentwood resident Steven Taylor, 44, with seven counts of bank fraud, one count of aggravated identity theft, and one count of money laundering over allegations that he used fake bank statements to get loans and lines of credit for a series of real estate transactions.

One of those transactions involved a nursing home in an upscale Los Angeles neighborhood that prosecutors say he bought under false pretenses and quickly flipped for more than double the price to the nonprofit housing developer Weingart Center Assn. To purchase the 70-plus-unit building in Cheviot Hills, Weingart used funds from the city and the state's Homekey initiative, a program to quickly convert hotels and other buildings into apartments or shelters for homeless people.