MILLER & MILOVE HAS SUCCESSFULLY REPRESENTED INVESTORS IN PRIVATE PLACEMENT REAL ESTATE FRAUD CASES FOR MORE THAN TWO DECADES

 

INVESTOR ALERT: Private Placement and “Alternative Investment” Fraud Abounds

As conservative and retired investors continue to seek safe income producing investments in this low interest rate environment, various 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 Business Development Companies – all sold through “Private Placement” offerings – are unsuitable for most, if not all, retail investors. Representatives of the real estate syndication industry admit to the outright fraud of promoters amongst their association. However the benefit of huge commissions paid to financial planners and brokers for selling these unsuitable products has encouraged continuing unlawful sales of “Alternative Investments” and has caused devastating losses to retirees and conservative investors alike.

 

Miller & Milove – Experienced and Successful Private Placement and Real Estate Securities Fraud Attorneys –  $21 Million Recovery 

 The deceptive practices of real estate and private placement syndicators utilized in current “Alternative Investments” are not new. Alternative Investment “sponsors” employ misleading private placement offering materials which include tricks such as the time worn “financial engineering” of projected returns to investors for the primary purpose of concealing exorbitant fees and commissions. Many of these tricks were first identified in connection with the limited partnership scandals of the 1980’s. In 1991 Miller & Milove was the first law firm to successfully initiate federal court proceedings against Prudential Securities arising from the real estate private placement fraud which became a prominent feature in the novel, Serpent on the Rock, written by Kurt Eichenwald. Miller & Milove’s efforts led to the highest recovery for any of the investors damaged by the Prudential Securities debacle.

 

 

 

 

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