IBN Financial Services Under Scrutiny Over Role In Selling ICap Securities To Investors. Our iCap Investment Loss Recovery Lawyers Continue To Investigate Losses
Shepherd Smith Edwards and Kantas iCap Investment Loss Recovery Lawyers (investorlawyers.com) has been zealously investigating claims of losses involving one of the many iCap investments that were sold by US brokerage firms. One of the broker-dealers we are looking at is IBN Financial Services, which agreed in 2022 to be a placement agent for iCap Vault 1 and sell its notes for a minimum of $25/purchaser. The offering was a maximum of $500K in notes.
Other iCap investments:
- iCap
- iCapBroadway
- iCapCampbell Way
- iCapEquity
- iCapFunding
- iCapHolding
- iCapHolding 5
- iCapHolding 6
- iCapInvestments
- iCapManagement
- iCapPacific Development
- iCapPacific Income 4 Fund
- iCapPacific Income 5 Fund
- iCapNorthwest Opportunity Fund
- iCapPacific Northwest Opportunity and Income Fund
- iCapPacific NW Management
- iCapRealty
- iCapVault
- iCapVault 1
- iCapVault Management
- Senza Kenmore
- UW 17thAVE
- Vault Holding 1
- VH 1121
- VH 2ndStreet Office
- VH Pioneer Village
- VH Senior Care
- VH Willows Townhomes
- VH Vault Holding
- 725 Broadway
Some 1800 investors purchased these investments. Among the buyers were Chinese nationals who were hoping to earn a green card through the EB-5 Immigrant Investor Program. With the help of a number of independent brokerage firms, including IBN Financial Services, iCap Equity was able to raise up to $245M from investors.
Meanwhile, iCap paid these broker-dealers up to 10% in commissions. Unfortunately, it has come to our attention that many of these Regulation D private placements and iCap Vault 1, which is a publicly registered security, may have been unsuitably sold to many investors.
Reg D private placements are generally unsuitable for most retail investors, inexperienced investors, and conservative retirees. Even if investing in any of these real estate properties might have allowed a foreign national to become a US immigrant, the individual would still have to meet the requirements of what it means to be an accredited investor to properly qualify to become involved in iCap. Not only that, but they ideally should have a certain level of investing experience.
Concerns grew in 2023 when dividend payments were suspended. iCap filing for Chapter 11 bankruptcy in September 2023 and founder Chris Christensen stepping down made it clear that the real estate investor/manager and its various private placements were in trouble.
Why It Is Important That You Work With Savvy Reg D Private Placement Lawyers
These are complex, illiquid investments and you want to retain a securities law firm that has experience in handling not just regulation D private placements but also real estate investments. At Shepherd Smith Edwards and Kantas, we have represented investors in more than 1000 legal matters in arbitration, mediation, and litigation.
We also represent both US citizens and foreign nationals in their broker fraud lawsuits here in the United States. We know how devastating it can be to suffer investment losses, which is why when you work with us you aren’t just hiring one of our attorneys, you are retaining our entire team of veteran investment loss recovery lawyers, legal assistants, consultants, and others.
How To Contact Us Over Your iCap Losses:
Our skilled iCap fraud attorneys can help you determine whether IBN Financial Services or another brokerage firm failed to fully apprise you of the risks, made any misrepresentations and omissions, or was negligent in another way.
Call (800) 259-9010 today or contact us online to request your free, initial no-obligation case assessment.