{"id":5625,"date":"2014-06-11T00:00:00","date_gmt":"2014-06-11T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2014\/06\/sec_charges_chicago_investment"},"modified":"2022-03-11T13:12:01","modified_gmt":"2022-03-11T19:12:01","slug":"sec-charges-chicago-investment","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-charges-chicago-investment\/","title":{"rendered":"SEC Charges Chicago Investment Advisory Founder With Real Estate Investment Fraud"},"content":{"rendered":"\n

The Securities and Exchange Commission is charging Attorney Robert C. Acri with Illinois securities fraud<\/a> related to a real estate venture. Acri is the founder of Kenilworth Asset Management, LLC, a Chicago-based investment advisory firm. He has agreed to settle by disgorging the funds that were misappropriated from investors, as well as commissions, interest, and a penalty. Monetary sanctions total about $115,000.<\/p>\n

The SEC brought the real estate investment fraud <\/a>charges after detecting possible misconduct when it examined the firm. The regulator\u2019s Enforcement Division was alerted and a probe followed.<\/p>\n

According to the findings of the investigation, Acri misled investors over promissory notes that were issued to supposedly redevelop an Indiana shopping center, misappropriated $41,250 for other purposes, and failed to tell investors that the firm received a 5% on every note sale. This amount would total $13,750. He also purportedly did not let investors know a number of material facts, including that the reason there even was an investment offer is that he was trying to rescue funds that other clients had invested earlier in the same real estate developer.<\/p>\n

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

The Securities and Exchange Commission is charging Attorney Robert C. Acri with Illinois securities fraud related to a real estate venture. Acri is the founder of Kenilworth Asset Management, LLC, a Chicago-based investment advisory firm. He has agreed to settle by disgorging the funds that were misappropriated from investors, as well as commissions, interest, and […]<\/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":[3760,3795,3761,3741],"tags":[],"class_list":["post-5625","post","type-post","status-publish","format-standard","hentry","category-sec-enforcement","category-sec-settlements","category-securities-and-exchange-commis","category-securities-fraud"],"yoast_head":"\nSEC Charges Chicago Investment Advisory Founder With Real Estate Investment Fraud — Investor Lawyers Blog — June 11, 2014<\/title>\n<meta name=\"description\" content=\"The Securities and Exchange Commission is charging Attorney Robert C. Acri with Illinois securities fraud related to a real estate venture. 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