Alternative Investments

Senior Customer of Ex-NYLIFE Securities Broker Felix Chu Seeks Over $5M in Ponzi Scam Losses

Published on: August 6, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Barred Stockbroker is Accused of Running Ponzi Scam That Defrauded Elderly Investors

Felix S. Chu, a former NYLIFE Securities registered representative, is currently facing at least two customer disputes in which the claimants are seeking $5,230,000 in damages. Chu was barred by the Financial Industry Regulatory Authority (FINRA) last year. He has been accused of running a Ponzi scam involving promissory notes that defrauded investors, including seniors.

Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) is investigating claims of losses by former investors of ex-NYLIFE Securities financial advisor, Felix Chu. If you are one of these investors, call (800) 259-9010 today.

Benefit Street Partners Realty Trust to Merge With Capstead Mortgage Corp.

Published on: August 3, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Benefit Street Partners Realty Trust Investors May Be Looking At More Losses

If you are an investor whose broker unsuitably recommended Benefit Street Partners Realty Trust, you may have grounds for a Financial Industry Regulatory Authority (FINRA) arbitration claim to recover damages.

On July 26, this publicly registered non-traded real estate investment trust (non-traded REIT) announced its merger with Capstead Mortgage Corporation. The combined company will be named Franklin BSP Realty Trust and is set to become the fourth biggest commercial mortgage REIT with a common stock that will trade on the New York Stock Exchange.

Hospitality Investors Trust Files For Chapter 11 Bankruptcy Protection

Published on: June 23, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Non-Traded REIT Seeks To Restructure $1.3B in Unsecured Debt

If you are an investor whose broker recommended that you invest in Hospitality Investors Trust (HIT), you may have grounds for a Financial Industry Regulatory Authority (FINRA) arbitration claim to recover damages.

Hospitality Investors Trust used to be called American Realty Capital Hospitality Trust (ARC Hospitality Trust). In May 2021, the publicly registered non-traded real estate investment trust (non-traded REIT) filed for Chapter 11 Bankruptcy protection as it seeks to restructure its $1.3B in unsecured debt.

Customers of Ameriprise Financial Services Broker Kevin Houser Seek $1.6M in Alternative Investment Losses

Published on: June 14, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Ameriprise Financial Services Investment Advisor Accused of Unsuitability, Misrepresentations

If you suffered investment losses while working with Ameriprise Financial Services stockbroker, Kevin Douglas Houser, please contact Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) right away.

The Center Valley, Pennsylvania financial advisor is already named in four substantial pending customer disputes over alternative investments.

Customer of UBS Broker Andrew Burish Seeks $23M Over Tesla Stock Losses

Published on: May 10, 2021 | by Shepherd Smith Edwards & Kantas, LLP

UBS Financial Broker Runs The Burish Group in the Midwest

If you are an investor who suffered losses while working with UBS broker Andrew Burish, please contact our broker fraud attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com).

Burish is considered a top UBS financial advisor who is head of The Burish Group in Madison, Wisconsin. He is accused of repeatedly recommending the short-selling of Tesla, Inc. shares, causing over $23M in losses for four couples, who are all related, and another investor. Tesla is an electric vehicle and clean energy company founded by billionaire Elon Musk.

Brokers May Have Unsuitably Recommended Lodging Fund REIT III

Published on: May 7, 2021 | by Shepherd Smith Edwards & Kantas, LLP

SEC Looks at Reimbursements Made to Legendary Capital REIT III

If your financial advisor recommended that you invest in Lodging Fund REIT III and you suffered losses, you may have grounds for a broker fraud claim to recover damages.

The publicly registered non-traded real estate investment trust (REIT) disclosed in a recent filing with the US Securities and Exchange Commission (SEC) that since December 2020 the latter has been looking into certain reimbursements made to Legendary Capital REIT III, LLC, as well as at disclosures involving reimbursement procedures and policies.

Cambridge Investment Services, Securities America, and JW Cole Financial Fined Over LJM Preservation & Growth Fund Recommendations

Published on: April 6, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Broker-Dealers Collectively Will Pay $550K Fine and Over $3.3M in Restitution

The Financial Industry Regulatory Authority (FINRA) has fined and censured three brokerage firms after finding that they failed to supervise recommendations of the LJM Preservation and Growth Fund (LJMIX, LJMCX, LJMAX) and did not conduct the proper due diligence into the alternative mutual fund:

Cambridge Investment Services will pay a $400K fine plus more than $3M in restitution

Why SPACs Can Be A Poor Investment Choice For Retail Investors

Published on: March 15, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Special Purpose Acquisition Companies Can Lead To Losses, High Fees

If you are an investor whose broker recommended that you invest in a special purpose acquisition company (SPAC) and you have suffered losses on your investment, you should contact our investment fraud attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com).

SPACs grew even more popular in 2020 in the wake of COVID-19. Although they can be profitable for those who start one, they’ve also proven to be risky and can result in losses for investors. Contact SSEK Law Firm today to request your free, no-obligation consultation.

GPB Capital Notifies Investors of Independent Monitor But Denies Ponzi Fraud Allegations

Published on: March 9, 2021 | by Shepherd Smith Edwards & Kantas, LLP

SEC Requested Monitor to Protect GPB Fund Investors

In a letter dated March 3rd, 2021, to all investors of its limited partnerships, CFO and interim CEO of GPB Capital Holdings, Rob Chmiel, notified investors that the firm has consented to a court-appointed independent monitor by the SEC to run the company and oversee its assets.

The regulator said it wanted to protect GPB Fund investors from further financial harm in the wake of the Ponzi fraud charges.

Atria Wealth Solutions to Acquire SCF Securities Which Sold GPB Investments

Published on: March 3, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Wealth Management Firm Also May Have Sold ARC NYC REIT, NorthstarHealthcare Income REITs, and Other Illiquid Securities

Wealth management solutions holding company, Atria Wealth Solutions, Inc. recently announced that it is acquiring SCF Securities, which is a brokerage firm based in Fresno, California. Also included in the acquisition will be SCF Investment Advisors, Inc. and SCF Marketing, Inc. The deal is expected to be finalized by the middle of 2021.

Our alternative investment fraud lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) are currently investigating SCF Securities over its sale of: