Blog
September 9, 2016
U.S. prosecutors on Thursday announced criminal fraud charges against two former American Realty Capital Properties Inc executives stemming from a 2014 accounting scandal that wiped out roughly $4 billion of the real estate investment trust’s market value. Former Chief Financial Officer Brian Block, 44, was charged with six criminal counts, including securities fraud, conspiracy and […]
February 26, 2014
The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Berthel Fisher & Company Financial Services, Inc. and its affiliate, Securities Management & Research, Inc., of Marion, Iowa, a combined $775,000 for supervisory deficiencies, including Berthel Fisher’s failure to supervise the sale of non-traded real estate investment trusts (REITs), and leveraged and inverse […]
December 20, 2012
Beverly Hills based securities lawyers launch of an investigation of the sales practices of LPL Financial, LLC in recommending non-traded REITs to their clients. The investigation follows the recently filed complaint by the Commonwealth of Massachusetts Securities Division into similar non-traded REIT sales practices. The Massachusetts complaint charged LPL with dishonest and unethical business practices. […]
October 24, 2012
The Financial Industry Regulatory Authority (FINRA) announced today that it has ordered David Lerner Associates, Inc. (DLA) of Syosset, NY, to pay approximately $12 million in restitution to affected customers who purchased shares in Apple REIT Ten, a non-traded $2 billion Real Estate Investment Trust (REIT) DLA sold, and to customers who were charged excessive […]
August 23, 2012
Reliable news sources have reported that Behringer Harvard Strategic Opportunity Fund I and II will report catastrophic losses to investors this Friday. Behringer Harvard informed brokers last week of the fund problems and is preparing to tell investors. Launched in 2005, the Behringer Harvard Strategic Opportunity Fund I raised $65 million and invested in six […]