Nicholas Schorsch’s former flagship REIT settles with investors for $1 billion

REIT | Published by Investment News | By Bruce Kelly | Sep 9, 2019 @ 5:53 pm — Mr. Schorsch’s firm, American Realty Capital, will kick in $225 million as part of the settlement The company formerly known as American Realty Capital Properties Inc., a real estate investment trust founded by Nicholas Schorsch and rocked by… Read more »

Private Pension Product, Sold by Felon, Wipes Investors Out

Published by THE WALL STREET JOURNAL July 23, 2018 530 a.m. ET By Jean Eaglesham Investors accuse Future Income Payments of taking them for more than $100 million Scott Kohn, a 64-year-old felon, ran a company from a Nevada strip-mall mailbox that investors claim took them for more than $100 million in losses. Mr. Kohn’s… Read more »

Halen Capital Management Inc.– Sale of Unregistered Common Stock

Halen Capital Management Inc. Allegedly Participated in the Sale of Unregistered Common Halen Capital Management Inc., from June 2010 through December 2013, allegedly participated in the sale of unregistered common stock offered by Atlas Federal Holdings Corp., now known as AtlasBanc Holding Corp., according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC)…. Read more »

George Dahl—Outside Business Activity

George Dahl Allegedly Engaged in an Outside Business Activity without Providing Written Notice and Executed Two Unauthorized Trades in a Customer’s Account George Dahl allegedly engaged in an outside business activity without providing written notice to Newport Coast Securities, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC). George Dahl also allegedly executed… Read more »

American Portfolios—Unsuitable Mutual Fund Switching

American Portfolios Allegedly Engaged in 78 Unsuitable Mutual Fund Switching Transactions in 15 Accounts American Portfolios, from May of 2011 through May of 2013, allegedly engaged in 78 unsuitable mutual fund switching transactions in 15 accounts, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC) currently under review by attorneys Jason Kane… Read more »

Sunil Sharma—Ponzi Scheme

California stockbroker fraud attorney

Sunil Sharma Allegedly Operated a $6 Million Ponzi Scheme, Raising $8.36 Million from 32 Investors with Risky Day-Trading Strategy Sunil Sharma, 68, allegedly operated a $6 million Ponzi scheme, according to Court Reports from San Diego, California. The Court Reports go on to detail how Sharma allegedly, between 2008 and 2014, raised $8.36 million from… Read more »

Next Financial Group, Inc.—Failure to Apply Sales Charge Discounts

Next Financial Group, Inc. Allegedly Failed to Apply Sales Charge Discounts to 696 Eligible UIT Purchases Leading to Excessive Sales Charges of Approximately $192,089.54 for Customers Next Financial Group, Inc. allegedly failed to apply sales charge discounts to 696 eligible UIT purchases resulting in customers paying excessive sales charges of approximately $192,089.54, according to a recent… Read more »

Edward Durante and VGTel— Financial Fraud

New York investor rights attorneys

Edward Durante, Working Behind Bars, Allegedly Orchestrated a $14 Million Investment Fraud Edward Durante, while operating from prison, managed to allegedly operate a $14 million investment fraud which took money from at least 100 investors, according to an SEC Complaint currently under review by attorneys Joe Peiffer and Jason Kane. Edward Durante, 63, of New… Read more »