MILLER & MILOVE
Miller & Milove is a leading business and securities law firm comprised of experienced and dedicated attorneys focusing on the recovery of investor losses due to deceptive or fraudulent sales practices. Our firm possesses a reputation for excellence built on more than 28 years of professional representation of clients nationwide in complex litigation, arbitration and mediation proceedings. We possess extensive state and federal court litigation experience in class actions, business litigation cases and arbitrations. Most of our cases are a result of referrals from former clients, other attorneys and judges familiar with our performance.
PRIVATE PLACEMENT INVESTOR ALERT: Private Placements, TICs and “Alternative Investment” Sales are defrauding investors out of life savings as Financial Advisors push high commission/high risk Private Placements instead of traditional investments appropriate for retirement and estate planning
Conservative and retired investors seeking safe income producing investments have been defrauded in private placement securities offerings. Starting in 2004 and continuing today in this low interest rate environment, various Brokers, Investment Advisors, Wealth Management and Financial Planning firms have ramped up marketing and sales of complex, commission rich and risky “Alternative Investments“. Securities regulators, such as FINRA, have warned brokers and investment professionals that “Alternative Investments”, such as Tenant In Common Real Estate offerings (TICs), Non-traded REITS and other real estate and oil and gas deals – all sold through “Private Placement” offerings – are unsuitable for most, if not all, retail investors. Representatives of the TIC industry admit to the outright fraud of promoters amongst their association. However the benefit of huge commissions paid to the brokers selling these unsuitable products has encouraged continuing unlawful sales of “Alternative Investments” and has caused devastating losses to retirees and conservative investors alike. Recent Miller & Milove cases include,
*AUGUST 28, 2014 : $723,000 AWARDED TO MILLER & MILOVE CLIENT BY FINRA ARBITRATION PANEL AGAINST AIG and SAGEPOINT FINANCIAL FOR DIRECT INVEST BRAINTREE PARK TIC PRIVATE PLACEMENT SALES VIOLATIONS
DEC.15, 2013: MASSACHUSETTS SUPERIOR COURT CONFIRMS $5.2 MILLION JUDGMENT IN FAVOR OF MILLER & MILOVE CLIENTS FOR ALTERNATIVE INVESTMENT/PRIVATE PLACEMENT SECURITIES FRAUD. ARGUS HOUSTON OFFICE BUILDINGS AND ARGUS INTERNATIONAL BUSINESS PARK TENANT IN COMMON FRAUD
JUNE 4, 2013: FINRA PANEL AWARDS MILLER & MILOVE CLIENT OVER $5 MILLION FOR ARGUS REALTY TENANT IN COMMON (TIC) FRAUD AND UNFAIR BUSINESS PRACTICES AGAINST PACIFIC WEST SECURITIES AND BROKER
MAY 2013 : FINRA ARBITRATORS AWARD MILLER & MILOVE CLIENT $589,000 FOR ARGUS NORTHGATE BLACKHAWK TIC SCAM
FEBRUARY 2012 : FINRA ARBITRATORS AWARD $1.36 MILLION AGAINST LPL FINACIAL TO MILLER & MILOVE CLIENT FOR DIRECT INVEST HERON COVE AND BRAINTREE PARK TENANT IN COMMON PRIVATE PLACEMENTS
SEPTEMBER 2010 : TIC PRIVATE PLACEMENT SALES RESULT IN FINRA ARBITRATION PANEL AWARD FOR ELDER ABUSE AND FRAUD IN FAVOR OF MILLER & MILOVE CLIENT (Campbell v. North Wealth Management and Kevin Williams)
PROSECUTIONS BY SECURITIES REGULATORS OF PRIVATE PLACEMENT “ALTERNATIVE INVESTMENT” BROKERS AND SPONSORS ARE RAMPING UP
Clients of various FINRA broker dealers have been sold fraudulent and unsuitable private placement investments such as Tenant In Common (TICs), REITs, oil and gas and other purportedly safe and well researched investments. Many investors have been left to FINRA arbitration proceedings as their only means to recover losses from the selling brokers. While FINRA previously warned the brokers against selling alternative investments , such as TICs, many brokers solicited and sold these commission rich products to unknowing retail clients. Various authorities have recognized the depth and severity of the fraud and are pursuing sellers of fraudulent or unsuitable investments.