The owner of the Falls Events Center, Steve Down, is being investigated by the Securities and Exchange Commission according to a report in the Sacramento Business Journal.
The Falls Events Center company owns two centers in the Sacramento area. One in Elk Grove and one in Roseville. The Elk Grove location opened in 2015 and two large events halls, as well as smaller rooms that can be rented out. The Roseville location opened earlier this year.
According to the journal report, the Fall Events Center company is losing money and the Elk Grove location has not made a profit in any month in 2017.
Down is also facing controversy over a project in Oregon. His company purchased the Evergreen Aviation and Space Museum in McMinnville, Oregon, in a bankruptcy sale. The museum has many historical airplanes. The company sold two World War II era planes earlier this year to raise money according to a story in the The Oregonian/OregonLive.