Free Consultation: (800) 259-9010
Tap Here to Call Us

Articles Tagged with investor funds

Nelson Partners’ Liquidation Plan That Would Pay $50M to Skyloft Austin Investors Gets Final Court Approval

Published on: August 21, 2022 | by Shepherd Smith Edwards & Kantas, LLP

Unfortunately, Property Management Firm May Not Be Able to Come Up with All the Funds

According to attorneys for Greg Milligan, the plan administrator for liquidation proceedings involving luxury high-rise student building Skyloft Austin, a court has approved on a final basis the liquidation plan that would require Nelson Partners Student Housing to pay its investors a claim of $50M. Under the Stipulation and Plan of Liquidation, the real estate management firm will likely have to sell most of its twenty students housing real estate properties to obtain this money.

The website of this property management company shares that Nelson Partners own off-campus student housing properties in multiple US States, including various buildings close to the following universities:

SEC Cases: Atlanta Fund Manager is Accused of Misusing Investors’ Funds and Final Judgments are Reached in $1.95M Matched Trades Scam and in REIT Fraud Case Against Ex-ARCP CFO Brian Block

Published on: February 14, 2018 | by Shepherd Smith Edwards & Kantas, LLP

SEC Accuses Atlanta Man of Misusing Over $1.2M in Investor Funds

In an enforcement action, the US Securities and Exchange Commission is accusing Timothy S. Batchelor of misusing over $1.2M in investor monies. The funds were supposed to go toward the development of a submarine vessel and to businesses involved in national security.

According to the regulator’s complaint, of the $2.4M that Batchelor raised from investors through the Specter Ventures Fund II, he improperly spent half of the money, including almost $250K to buy new cars and about $225K to cover student loans. He allegedly moved thousands of dollars in investor monies to his own relatives. Batchelor also is accused of trying to conceal his actions by faking a document that misrepresented unauthorized expenditures as a loan.