Are You An Investor Who Lost Money In Tuscan Gardens REIT?
Ex-Florida Broker Sean Casterline Allegedly Unsuitable Marketed Private Placements
Shepherd Smith Edwards and Kantas (investorlawyers.com) is representing a South Carolina retiree in his broker fraud lawsuit against International Assets Advisory and its former registered representative Sean Donovan Casterline. The ex-Florida financial advisor, who was most recently with Delta Securities, was sanctioned by FINRA for allegedly taking part in unauthorized securities transactions without telling his member brokerage firm. This included the fact that he was Managing Director of Private Equity for Tuscan Gardens.
In his FINRA lawsuit, this older investor is seeking up to $500K in damages. He contends that Casterline allegedly unsuitably recommended private placements, including the Regulation D privately traded real estate investment trust (REIT) Tuscan Gardens and privately traded company Simms-Frost. Both are speculative investments and appear to be connected, which only increases the concentration level and degree of risk involved. Simms-Frost seems to have been set up to funnel funds into Tuscan Gardens, which creates senior living communities. Casterline and International Assets Advisory are also accused of misrepresentations, omissions, and breach of contract.
Our Reg D Private Placement Lawyers Represent Investors In Suing Broker-Dealers
Regulation D private placement investments tend to be high-risk and illiquid. They are usually exempt from having to be registered with the US Securities and Exchange Commission (SEC), which makes them unregistered securities. They are a way for private companies to raise funding without having to go public.
Reg D investments should only be sold to accredited investors that meet certain income thresholds and exemptions. They are generally unsuitable for novice investors, conservative retirees, and other retail investors.
According to some studies, nearly 10% of Reg D offerings fail. Meanwhile, brokerage firms earn high commissions from selling private placements, which can be an incentive for marketing and selling them to clients.
These are not simple investments, which is why you need seasoned Reg D investor loss lawyers by your side. You want a legal team that is knowledgeable about these types of unregistered securities and why your brokerage firm should be held liable.
Shepherd Smith Edwards and Kantas represent retirees and other investors in pursuing the damages that were caused by unsuitable investment recommendations, concentration, misrepresentations and omissions, and much more. Brokerage firms have a duty to properly supervise their registered representatives and clients’ accounts. It is their responsibility to protect customers from becoming the victim of broker misconduct or negligence.
If we agree to work together, we will conduct a thorough investigation into your losses and help you sue your brokerage firm for damages. When you hire our Reg D investment loss recovery law firm, you aren’t just retaining one of our lawyers, you are hiring our entire team who have dedicated our professional lives to fighting for investors like you. We are zealous advocates when it comes to protecting our client’s legal rights and holding brokerage firms and investment advisers accountable.
How To Contact Our Tuscan Gardens REIT Loss Attorneys: