{"id":5563,"date":"2014-02-14T00:00:00","date_gmt":"2014-02-14T06:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2014\/02\/finra_awards_almost_1m_in_flor"},"modified":"2022-03-10T09:14:29","modified_gmt":"2022-03-10T15:14:29","slug":"finra-awards-almost-1m-in-flor","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/finra-awards-almost-1m-in-flor\/","title":{"rendered":"FINRA Awards Nearly $1M in Florida Non-traded-REIT Cases"},"content":{"rendered":"\n

The Financial Industry Regulatory Authority has ordered two Retirement Securities Inc. and Sterling Enterprises Group Inc. to pay an individual and two trusts over $900,000 in a Non-traded real estate investment trust case. The individual is investor Kristopher Brownlow and the two trusts are the Martha H. Mason Trust and the Derek Mason Trust. Both Retirement Securities and Sterling Enterprises are no longer registered with FINRA.<\/p>\n

The two trusts and Brownlow brought the case to the SRO, contending that they lost money because of the investments that Sterling Enterprises and Retirement Securities recommended to them. Per FINRA documents, the investments were made in REITS offered by Inland American Real Estate Trust Inc. and they were non-tradable. Inland Real Estate Trust Inc. is one of the biggest non-traded REITs with over $11 billion in assets. <\/p>\n

At the dispute resolution hearing, the claimants argued that the investment advisors breached their fiduciary duty, were negligent, took part in common law fraud, violated the Florida Securities and Investor Protection Act, and breached contracts. Except for the allegation involving the Florida act, all allegations were thrown out. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Financial Industry Regulatory Authority has ordered two Retirement Securities Inc. and Sterling Enterprises Group Inc. to pay an individual and two trusts over $900,000 in a Non-traded real estate investment trust case. The individual is investor Kristopher Brownlow and the two trusts are the Martha H. Mason Trust and the Derek Mason Trust. Both […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3759],"tags":[],"class_list":["post-5563","post","type-post","status-publish","format-standard","hentry","category-reits"],"yoast_head":"\nFINRA Awards Nearly $1M in Florida Non-traded-REIT Cases — Investor Lawyers Blog — February 14, 2014<\/title>\n<meta name=\"description\" content=\"The Financial Industry Regulatory Authority has ordered two Retirement Securities Inc. and Sterling Enterprises Group Inc. to pay an individual and two — February 14, 2014\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/finra-awards-almost-1m-in-flor\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" 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