Articles Posted in Private Placements

Did You Suffer Investment Losses While Working With Former Independent Financial Group Broker Armando Roman? Shepherd Smith Edwards and Kantas Want to Talk To You

Our broker fraud attorneys are continuing to investigate claims of losses involving ex-Independent Financial Group registered representative Armando Roman. The former Arizona stockbroker is still a registered investment adviser with AXIOM Founders Family Office.

Several months ago, a Financial Industry Regulatory Authority (FINRA) arbitration panel awarded $1M in compensatory damages to one customer for portfolio losses from allegedly unsuitable private placement recommendations by Roman. The investments involved included:

Brokerage Firm StillPoint Capital Under Scrutiny For Selling ICap Investments

Our Reg D Private Placement Fraud Lawyers Are Investigating Investor Losses

If you were sold an iCap private placement by a StillPoint Capital financial advisor, please contact the Private Placement Fraud Lawyers at Shepherd Smith Edwards and Kantas ( today. The broker-dealer is reportedly one of the many firms who availed of the high sales commissions of up to 10% even if that meant allegedly unsuitably recommending these Reg D investments to retail customers, including those with moderate or low-risk tolerance levels.

Are You One of the 1800 Investors That Purchased iCap Securities? Our Private Placement Loss Lawyers May Be Able To Help You Recover Your Losses

If you are an iCap investor, please contact Shepherd Smith Edwards and Kantas Private Placement Loss Lawyers ( Our seasoned Regulation D investment loss attorneys are looking into claims of losses and investigating which broker-dealers should be held liable for damages. We are speaking with both US investors and Chinese nationals. Many of the latter were reportedly hoping to secure their US EB-5 visas by investing.

Real estate investor and manager iCap Enterprises had raised $245M from investors with the help of independent broker-dealers. However, earlier this year, dividend payments were suspended supposedly because of the risk of growing interest rates. In September 2023, iCap filed for Chapter 11 bankruptcy protection, and its founder Chris Christensen resigned. Third-party management group Paladin is now overseeing these real estate investments that include private placements and at least one publicly registered security, the iCap Vault 1.

Did Your Broker Sell You ICap Northwest Opportunity & Income Fund Private Placements? 

Our Investment Loss Recovery Attorneys Can Help You Explore Your Legal Options

In March 2023, ICap Northwest Opportunity Fund CEO announced to investors that it would be suspending interest payments. Clearly this is bad news for ICap Northwest Opportunity and Income Fund private placement investors, many of whom may not have been aware that their broker marketed and sold them such risky, illiquid investments.

Some Investors Are Paying The Price for Conservation Easements As Regulation D Private Placements

Experienced Private Placement Investor Loss Lawyers Can Help

If you are an investor whose brokerage firm recommended that you invest in conservation easements as Regulation D private placements, and you’ve since been informed that you are in violation of tax laws, you will want to speak with skilled Private Placement Investor Loss Lawyer right away.

Broker Alan Douglass Unsuitably Overconcentrated Investor’s Funds in Non-Publicly Traded Products 

An investor based in Lutz, Florida has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Securities America. This investor suffered losses in real estate investment trusts (REITs) and other non-publicly traded investments. The claimant, who is a retiree, suffered up to $500K in investment losses, which he is seeking in damages.

Securities America broker, Alan Duane Douglass, was this claimant’s financial advisor. He not only unsuitably recommended private placements and real estate investment trusts (REITs) to this customer but also, overconcentrated the customer’s portfolio with these risky investments. 

Unsuitability Involving Private Placements Alleged

Our unsuitable investment fraud attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm at are looking into customer complaints involving SagePoint Financial stockbroker, Christopher R. Bice. 

His BrokerCheck record shows a number of pending investment fraud claims including at least two customer disputes involving private placements. The claimants are collectively seeking over $2M in damages. Bice, a Greensboro, North Carolina broker, is also an investment advisor.

Claimant Alleges Overconcentration, Unsuitability, Failure to Supervise

A Portland, Oregon semi-retiree has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Western International Securities, Inc. and is seeking up to $500K in damages. The investor contends that a former financial advisor from the firm overconcentrated most of her retirement funds in illiquid private placements and caused her significant financial losses. 

Our Portland investment fraud attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm at are representing this claimant in her private placement fraud case against Western International Securities. 

State Lawsuits Come After SEC Complaint and FBI Arrests

New York Attorney General Letitia James is suing GPB Capital Holdings along with five co-defendants for running a mass Ponzi scam.

The NY AG contends that the alternative asset firm and private equity fund manager, which is based in the state, defrauded investors throughout the US of over $700M. The complaint said that more than 1,400 of those victims were New Yorkers who invested over $150M.

Justice Department Files Parallel Criminal Charges Against GPB Capital’s David Gentile and Others

The Securities and Exchange Commission (SEC) has filed civil charges against GPB Capital Holdings CEO and owner David Gentile, ex-GPB managing partner Jeffrey Lash, Ascendant Capital owner Jeffry Schneider, and affiliated entities, including Ascendant Alternative Strategies, of defrauding 17,000 retail investors in a more than $1.7B in a Ponzi-like scam.

GPB Capital Holdings, an alternative asset firm that invests in auto dealerships and waste management, has been under investigation over Ponzi fraud allegations by the SEC, the Federal Bureau of Investigation (FBI), the Financial Industry Regulatory Authority (FINRA), and others for more than two years. Now, in a parallel case, the U.S. Attorney’s Office for the Eastern District of New York has filed criminal charges indicting Gentile, Lash, and Schneider. If convicted, they could each spend up to two decades in prison.

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