{"id":6115,"date":"2017-02-22T17:42:21","date_gmt":"2017-02-22T23:42:21","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1439"},"modified":"2022-03-28T11:08:18","modified_gmt":"2022-03-28T16:08:18","slug":"purshe-kaplan-sterling-investments-must-pay-native-american-tribe-3-4m-excessive-sales-charges-involving-nontraded-reits-bdcs","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/purshe-kaplan-sterling-investments-must-pay-native-american-tribe-3-4m-excessive-sales-charges-involving-nontraded-reits-bdcs\/","title":{"rendered":"Purshe Kaplan Sterling Investments Must Pay Native American Tribe $3.4M Over Excessive Sales Charges Involving Nontraded REITs and BDCs"},"content":{"rendered":"<p>\t\t\t\tThe Financial Industry Regulatory Authority is ordering Purshe Kaplan Sterling Investments (PKS) to pay almost $3.4M in restitution to a Native American tribe. The tribe had paid excessive sales fees for the purchase of Business Development Companies (BDCs) and non-traded Real Estate Investment Trusts (REITs).<\/p>\n<p>Gopi Vungarala was the Purshe Kaplan Sterling registered representative for the tribe from 7\/2011 through at least 1\/15\/15. He was also the tribe\u2019s Treasury Investment Manager at the same time. It was his job was to oversee the group\u2019s investment portfolio. <\/p>\n<p>FINRA\u2019s case against Vungarala in this matter has yet to be resolved. However, Purshe Kaplan Sterling must also pay $750K for its purportedly inadequate supervision of nontraded REIT and BDC sales.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/purshe-kaplan-sterling-investments-must-pay-native-american-tribe-3-4m-excessive-sales-charges-involving-nontraded-reits-bdcs\/#more-6115\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Financial Industry Regulatory Authority is ordering Purshe Kaplan Sterling Investments (PKS) to pay almost $3.4M in restitution to a Native American tribe. The tribe had paid excessive sales fees for the purchase of Business Development Companies (BDCs) and non-traded Real Estate Investment Trusts (REITs). Gopi Vungarala was the Purshe Kaplan Sterling registered representative for [&hellip;]<\/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":[3759,1],"tags":[2745,2746,2747],"class_list":["post-6115","post","type-post","status-publish","format-standard","hentry","category-reits","category-uncategorized","tag-business-development-companies","tag-nontraded-reits","tag-purshe-kaplan-sterling"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Purshe Kaplan Sterling Investments Must Pay Native American Tribe $3.4M Over Excessive Sales Charges Involving Nontraded REITs and BDCs &#8212; Investor Lawyers Blog &#8212; February 22, 2017<\/title>\n<meta name=\"description\" content=\"The Financial Industry Regulatory Authority is ordering Purshe Kaplan Sterling Investments (PKS) to pay almost $3.4M in restitution to a Native American &#8212; February 22, 2017\" \/>\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\/purshe-kaplan-sterling-investments-must-pay-native-american-tribe-3-4m-excessive-sales-charges-involving-nontraded-reits-bdcs\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Purshe Kaplan Sterling Investments Must Pay Native American Tribe $3.4M Over Excessive Sales Charges Involving Nontraded REITs and BDCs &#8212; Investor Lawyers Blog &#8212; February 22, 2017\" \/>\n<meta name=\"twitter:description\" content=\"The Financial Industry Regulatory Authority is ordering Purshe Kaplan Sterling Investments (PKS) to pay almost $3.4M in restitution to a Native American &#8212; February 22, 2017\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Purshe Kaplan Sterling Investments Must Pay Native American Tribe $3.4M Over Excessive Sales Charges Involving Nontraded REITs and BDCs &#8212; Investor Lawyers Blog &#8212; February 22, 2017","description":"The Financial Industry Regulatory Authority is ordering Purshe Kaplan Sterling Investments (PKS) to pay almost $3.4M in restitution to a Native American &#8212; February 22, 2017","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/purshe-kaplan-sterling-investments-must-pay-native-american-tribe-3-4m-excessive-sales-charges-involving-nontraded-reits-bdcs\/","twitter_card":"summary_large_image","twitter_title":"Purshe Kaplan Sterling Investments Must Pay Native American Tribe $3.4M Over Excessive Sales Charges Involving Nontraded REITs and BDCs &#8212; 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