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Search Results: REIT
Results 150-160 of about 252
Date: October 3, 2018
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’s office, ...
Date: August 29, 2018
Investors who placed their funds in the Texas-based United Development Funding IV real estate investment trust are asking a federal judge to approve a $13.5M REIT fraud settlement they’d reached with the company over the allegations that it had been ...
Date: February 14, 2018
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
Date: November 30, 2017
The REIT came under fire two years ago after an investor website issued a report accusing UDF IV of being run like a Ponzi scam.
Date: November 9, 2017
Prosecutors accused Block of inputting bogus figures when preparing the REIT’s financial reporting. He allegedly did this to hide a calculation mistake that occurred in an earlier financial report. Following the disclosure of the accounting misstatements, American Realty’s share price ...
Date: October 5, 2017
RCAP, once controlled by Schorsch and others, was a privately held brokerage firm that wholesaled American Reality Capital nontraded REITs. Schorsch also owned ARC, which set up and managed the real-estate investment trusts. Continue Reading ›
Date: July 5, 2017
Following the rendering of the verdict in the REIT fraud case, a lawyer for Block said that his client plans to appeal. According to the US Department of Justice, an employee notified Block, as well as then-accounting chief Lisa McAllister ...
Date: June 20, 2017
Former REIT CFO’s Criminal Trial is Under Way Brian Block, the ex-American Realty Capital Properties CFO, is on trial over his alleged involvement in accounting errors that led to the former Nicholas Schorsch-controlled real estate investment trust’s release of inaccurate ...
Date: May 30, 2017
David Lerner Associates to Pay NJ Over Nontraded REIT Sales David Lerner Associates has agreed to pay a $700K penalty to resolve allegations accusing it of illegally selling nontraded real estate investment trusts in the state of New Jersey.
Date: March 10, 2017
The plaintiffs contend that Schorsch and partners Peter Budko, William Kahane, Brian Block, and Edward “Michael” Well took advantage of their authority at RCAP to enrich AR Capital, which was the nontraded REIT business that they wholly owned. Continue Reading ...
