{"id":6598,"date":"2018-10-03T21:40:31","date_gmt":"2018-10-03T21:40:31","guid":{"rendered":"http:\/\/www.investorlawyers.com\/?p=6598"},"modified":"2022-05-19T09:59:05","modified_gmt":"2022-05-19T14:59:05","slug":"real-estate-investment-trust-cases-sii-to-repay-clients-who-bought-nontraded-reits-trustmont-financial-group-is-ordered-to-pay-client-1m-and-vereit-settles-with-more-investors-over-accounting-frau","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/real-estate-investment-trust-cases-sii-to-repay-clients-who-bought-nontraded-reits-trustmont-financial-group-is-ordered-to-pay-client-1m-and-vereit-settles-with-more-investors-over-accounting-frau\/","title":{"rendered":"Real Estate Investment Trust Cases: SII to Repay Clients Who Bought Non-traded REITs, Trustmont Financial Group is Ordered to Pay Client $1M, and Vereit Settles with More Investors Over Accounting Fraud Claims Against ARCP"},"content":{"rendered":"<h2><strong>SII Investments to Pay Back Clients Over Nontraded REITs <\/strong><\/h2>\n<p>Massachusetts Secretary of the Commonwealth William Galvin is ordering SII Investments Inc. to repay clients who purchased non-traded real estate investment trusts through the independent brokerage firm. According to Galvin\u2019s office, SII <a href=\"https:\/\/www.investorlawyers.com\/investor-claims\/broker-misconduct\/failure-to-supervise\/\">did not properly supervise<\/a> these transactions.<\/p>\n<p>It was last year that the Massachusetts regulator filed charges against SII, accusing the financial firm of failure to supervise and \u201cdishonest or unethical conduct\u201d related to non-traded REIT sales made to state residents. Galvin accused the broker-dealer of inflating the liquid net worth of clients by counting their annuities as liquid assets rather than non-liquid ones.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/real-estate-investment-trust-cases-sii-to-repay-clients-who-bought-nontraded-reits-trustmont-financial-group-is-ordered-to-pay-client-1m-and-vereit-settles-with-more-investors-over-accounting-frau\/\"  title=\"Continue Reading Real Estate Investment Trust Cases: SII to Repay Clients Who Bought Non-traded REITs, Trustmont Financial Group is Ordered to Pay Client $1M, and Vereit Settles with More Investors Over Accounting Fraud Claims Against ARCP\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>SII Investments to Pay Back Clients Over Nontraded REITs Massachusetts Secretary of the Commonwealth William Galvin is ordering SII Investments Inc. to repay clients who purchased non-traded real estate investment trusts through the independent brokerage firm. According to Galvin\u2019s office, SII did not properly supervise these transactions. It was last year that the Massachusetts regulator [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6601,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[4014,3759],"tags":[3158,3159,2835],"class_list":["post-6598","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-non-traded-reits","category-reits","tag-sii-investments","tag-trustmont-financial-group","tag-vereit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Real Estate Investment Trust Cases: SII to Repay Clients Who Bought Non-traded REITs, Trustmont Financial Group is Ordered to Pay Client $1M, and Vereit Settles with More Investors Over Accounting Fraud Claims Against ARCP &#8212; Investor Lawyers Blog &#8212; October 3, 2018<\/title>\n<meta name=\"description\" content=\"SII to Repay Clients Who Bought Non-traded REITs, Trustmont Financial Group is Ordered to Pay Client $1M, and Vereit Settles with More Investors Over Accounting Fraud Claims Against ARCP\" \/>\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\/real-estate-investment-trust-cases-sii-to-repay-clients-who-bought-nontraded-reits-trustmont-financial-group-is-ordered-to-pay-client-1m-and-vereit-settles-with-more-investors-over-accounting-frau\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Real Estate Investment Trust Cases: SII to Repay Clients Who Bought Non-traded REITs, Trustmont Financial Group is Ordered to Pay Client $1M, and Vereit Settles with More Investors Over Accounting Fraud Claims Against ARCP &#8212; 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