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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 (investorlawyers.com) 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.
Private placements tend to be high-risk, illiquid investments and generally only should be marketed and sold to accredited investors and sophisticated investors. The fact that iCap investors have now lost a significant money could be grounds for broker fraud lawsuits against StillPoint or any other broker-dealer that sold the following:
- iCap
- iCapBroadway
- iCapCampbell Way
- iCapEquity
- iCapFunding
- iCapHolding
- iCapHolding 5
- iCapHolding 6
- iCapInvestments
- iCapManagement
- iCapPacific Development
- iCapPacific Income 4 Fund
- iCapPacific Income 5 Fund
- iCapNorthwest Opportunity Fund
- iCapPacific Northwest Opportunity and Income Fund
- iCapPacific NW Management
- iCapRealty
- iCapVault
- iCapVault 1
- iCapVault Management
- Senza Kenmore
- UW 17thAVE
- Vault Holding 1
- VH 1121
- VH 2ndStreet Office
- VH Pioneer Village
- VH Senior Care
- VH Willows Townhomes
- VH Vault Holding
- 725 Broadway
Brokers also reportedly sold iCap investments to Chinese investors in the Seattle, WA area who were looking to become green card holders under the US Immigrant Investor Program.
In September 2023, real estate holding company iCap Enterprises and its affiliates filed for Chapter 11 bankruptcy. Estimates place the company’s assets at $50M and liabilities at over $500M. Considering the discrepancy between the two, it is likely that liquidation or reorganization would leave investors who have unsecured debt with significant investment losses. Not only that, but also several months before it filed for bankruptcy, iCap stopped making interest payments to investors.
Brokerage firms, including StillPoint, collectively raised about $245M from about 1800 investors. Many of them are now saying that they were not fully apprised of the full scope of the risks they were taking on.
What Should You Do If You Are an ICap Investor?
First of all, know that this is a consolidated bankruptcy proceeding that is meant to erase iCap’s unsecured debt. This isn’t being done for the purposes of making sure investors get their money back. There may not be much, if anything at all, for investors to recover through the company.
What you can do, however, is to contact our trusted Reg D private placement loss attorneys and allow us to explore your legal options with you during a free, no-obligation case assessment. Many investors are finding that they were the victims of unsuitable investment recommendations, misrepresentations, and omissions, due diligence failures, breach of fiduciary duty, or broker negligence.
Representing Investors Against Broker-Dealers For Over 30 Years
Shepherd Smith Edwards and Kantas offer premier quality securities representation. We are a seasoned law firm with over 100 years’ worth of combined experience in the securities industry and securities law. When you work with us you will receive the attention of not just one attorney but you will have our entire team of lawyers, knowledgeable legal assistants, consultants, and others fighting for you.
How To Contact Us About Your iCap Losses:
We represent US citizens, US residents, and foreign nationals with investment loss recovery claims against US-based broker-dealers.
Call (800) 259-9010 today to request your free, no-obligation consultation.