Have you been deceived and lost money from “Alternative Investment” Fraud, such as Real Estate Tenant in Common (TICs), REITs, Private Placements or Offshore Investments ?
Recovery options are available
The law firm of Miller & Milove has successfully represented defrauded real estate investors for more than 28 years in various “Alternative Investment” matters, such as Tenant In Common (“TIC”)/1031 Exchange investments, Real Estate Partnership Disputes, Offshore Investments and Private Placement Real Estate Securities Fraud arbitration and litigation cases.
The current economic crisis has revealed a new wave of fraudulent and unlawful real estate investments and transactions that were designed to mislead investors and line the pockets of the investment promoters and brokerage firms.. Miller & Milove has independently and through Court appointment represented many hundreds of clients defrauded in Real Estate investments and development projects abused by the investment sellers. We have recovered millions of dollars of real estate investment losses from Financial Planners, Investment Advisors, Brokers, Wall Street firms, and Ponzi scheme and various unlawful business promoters. Amongst the more recent forms of misrepresented investments are “Tenants In Common” or “TIC” related Private Placement scams.
A “TIC” (Tenant In Common) is a real estate investment in which two or more parties own a fractional interest in a select property. TIC investments became popular after 2002 when the Internal Revenue Service ruled that investors could defer capital gains on real estate transactions involving the exchange of properties (i.e. 1031 Exchanges). Sharp Wall Street and Commercial Real Estate dealmakers then re-entered the field of real estate investment syndication, leading to the creation of many fraudulent and misleading TIC private placement offerings resulting in devastating losses to families and individual investors. These TIC investments utilized misleading marketing and sales practices which were modeled on known frauds of the past.
Many investors were misled in TIC investments with respect to the quality of the real estate purchased, tenant lease terms, undisclosed financing arrangements, excessive and undisclosed fees, conflicts of interest, negative economic factors known to brokers that posed a significant risk of loss and misrepresentations and omissions concerning the backgrounds and track records of the sponsors, promoters and managers. Some of these investments were marketed nationally by firms such as INVEST Financial Corp., H & R Block Financial Advisors, Ameriprise, National Planning Corp., Pacific West Securities, Regent Financial Group, LPL Financial, DBSI, NPV/Direct Invest, Sagepoint Financial, Argus, Sigma Financial, ProEquities, Orchard Securities, OMNI Brokerage, Meridian Capital Partners and others. Experienced investment counsel should be consulted to adequately address complex real estate investment fraud cases.
If you have discovered that significant facts concerning your real estate investment were not disclosed or misrepresented when purchasing the investment or you are receiving excessive capital calls in real estate investments or believe that you may have been a victim of TIC real estate investment fraud, please call (619) 696-5200 or email us.
Comments or questions are welcome.