Shepherd Smith Edwards and Kantas Is Representing This Retiree In FINRA Arbitration

A California retiree has filed a FINRA arbitration claim against Cabin Securities and former broker Sameer Bhushan seeking up to $500,000 for losses tied to unsuitable Delaware Statutory Trust (DST) investments. The lawsuit alleges that the illiquid and high-risk investments, including Versity Astoria DST and ExchangeRight Net-Leased Portfolio 48, were improperly sold to the widow for a 1031 exchange.

If you suffered investment losses in a Delaware Statutory Trust (DST), you will want to speak with Shepherd Smith Edwards and Kantas (investorlawyers.com) today.  Already, we have filed quite a number of FINRA lawsuits on behalf of DST investors against brokerage firms.

This includes an investment loss recovery claim against Cabin Securities and one of its ex-registered representatives Sameer (Sam) Bhushan for up to $500,000. The Claimant, a California widow, had sought to involve herself in a 1031 exchange for tax purposes. A DST allows investors to move into managed real estate without paying tax gains from selling real estate. Unfortunately, the two Delaware Statutory Trusts that she was sold proved problematic. Our Client is now looking at serious losses involving:

• Versity Astoria DST, of which its issuer, Versity Investments (KNA Crew Enterprises) is accused of a $56M investor fraud.
• ExchangeRight Net-Leased Portfolio 48

Unfortunately, this Claimant is locked into these DSTs. She has no control over when—or if—she will get back her money or receive the income promised. Given her age and financial circumstances, such illiquidity and risk could cause her even greater financial harm. Already, she has lost income and principal. Meanwhile, Cabin Securities and its financial advisor earned a substantial amount in commissions and fees.

Did You Suffer Investor Losses While Working With Ex-Registered Broker Sam Bhushan?

Our Client is not the only one to sustain losses while working with previously registered financial advisor Sam Bhushan. His BrokerCheck CRD notes 10 customer disputes filed since 2022, with the majority of them made in  2025. A lot of these investment loss recovery claims involve Regulation D offerings, including Delaware Statutory Trusts. Still pending cases are seeking a collective amount of more than $10,000,000 in damages.

These investors have made similar allegations against Bhushan, including unsuitability, fraud, misrepresentations and omissions, breach of contract, breach of fiduciary duty, negligence, gross negligence, violation of US Securities and Exchange Commission (SEC) Regulation Best Interest, unjust enrichment, failure to supervise, and more.

Why Are DSTs Unsuitable For Retail Investors and Most Retirees?

A Delaware Statutory Trust is a real estate investment opportunity in which multiple investors are given a fractional interest (part ownership) in the Trust. DSTs can come with tax benefits and income opportunities, but they also bring significant risks.

• These are highly illiquid, complex Regulation D and private placement offerings.
  They lack transparency, and investors have little control.
• Delaware Statutory Trusts aren’t subject to rigorous disclosures or regulations.
• They offer brokers high commissions and fees, which can become a greater impetus for them to sell DSTs rather than because they are in a customer’s best interests.
• DSTs should only be sold to accredited investors, which means financial advisors shouldn’t be selling them to retail investors at all.
• For many seniors, high risk and illiquidity are not beneficial at this point in life, when suffering substantial losses can prove financially devastating.
• Real estate market fluctuations and tenant defaults, which may happen with a DST, can lead to huge losses for investors, including of their principal.

Seasoned DST Recovery Lawyers Representing Investors Like You

• Shepherd Smith Edwards and Kantas represents investors with complex investment loss recovery claims against brokerage firms in arbitration, mediation, and litigation.
• Our securities law team has more than 100 years of combined experience in securities law and the securities industry.
• We have represented investors regarding more than 1000 matters to collectively secure many millions of dollars for thousands of our clients.

Do You Suspect You Might Have A Delaware Statutory Trust Lawsuit Against Your Broker?

Call (800) 259-9010 or contact us online to schedule your free case consultation.