The former finance director of a real estate development company in central California has filed a whistleblower lawsuit, alleging "illegal retaliation and wrongful termination."

According to a complaint filed June 16 in Fresno County Superior Court, Ryan Toncheff said he was fired earlier this month by Fresno-area developer Granville Homes after questioning the company's cash flow situation and disclosures to lenders. The lawsuit, reported by local media Fresnoland, further alleges that company founder and owner Darius Assemi used corporate funds for personal real estate purchases.

Toncheff alleges that Assemi used approximately $14 million to $16 million of Granville Homes' operating cash to purchase a parcel of land previously held by his family. The property was originally planned by another developer as a golf course and luxury residential project, then was acquired by the Assemi family and renamed Mission Ranch. The complaint states that the funds "could not have been transferred without the approval of defendant Darius Assemi himself, and were in fact released with his personal approval."

Granville Homes did not immediately respond to a request for comment on Monday, but Assemi told Fresnoland that the lawsuit was "filed by a disgruntled former employee whose job performance did not support continued employment." Assemi told the outlet: "Granville looks forward to continuing to build homes in the Central Valley for decades to come."

According to Fresnoland, real estate developer-turned-U.S. President Donald Trump expressed interest in the property nearly two decades ago but ultimately walked away.

Toncheff's lawsuit names Granville Homes, Assemi, and 50 unidentified "Doe" individuals as defendants. Toncheff accuses the company and Assemi of promissory note fraud and unfair business practices. He seeks "compensatory damages for lost wages and benefits," as well as "general damages for emotional distress, psychological trauma, and damage to professional reputation and career, in an amount to be determined at trial."

The complaint alleges that the defendants did not respond to or investigate Toncheff's concerns, but instead retaliated, including "stripping him of his duties and authority, humiliating him, revoking his system access, and placing him on suspension without cause, ultimately terminating his employment on June 10, 2026."

The complaint states that based on Toncheff's calculations, he determined that Granville Homes was in a state of "cash flow insolvency." Toncheff's analysis showed that the company's "burdensome debt service coverage ratio reflected not only its own nominal debt, but also the overall debt service it actually bore through its centralized cash management structure," the complaint adds.

According to the complaint, Toncheff began working at Granville Homes in mid-2024.

Toncheff's allegations come amid ongoing financial and legal difficulties facing the Assemi family. Fresnoland previously reported that the family is alleged to have defaulted on loans exceeding $700 million.