Category: REITs

LPL Fined Again Over Sales of Alternative Investments

The New Jersey Bureau of Securities announced that LPL Financial, the second-largest independent broker-dealer in the US, was fined $950,000 and agreed to pay $25,000 to the state’s investor education fund arising from the firm’s failure to properly supervise sales of illiquid alternative investments to customers, including non-traded REITs and BDCs. It is alleged that… read more

LPL Financial Agrees to $750,000 Settlement in Nontraded REIT Case

In the case brought by the New Hampshire Bureau of Securities Regulation involving the sale of non-traded real estate investment trusts (“REITs”) to an 81-year old, New Hampshire investor, LPL Financial has agreed to pay a settlement of $750,000. LPL Financial, considered the nation’s largest independent broker, allegedly sold the investor an unsuitable non-traded REIT… read more

What Are Non-Traded REITs?

Investors often have questions regarding various investments that are recommended to them, including those involving non-traded Real Estate Investment Trusts. These are investment options that can be very risky and one that our securities lawyers at Meyer Wilson recommend investors to stay away from at all times. These investments appear to be promising for a… read more

Ohio Realtor Brenda Ashcraft Pleads Guilty to Defrauding Investors Out of $15 Million

In 2013, Meyer Wilson was investigating claims surrounding former Ohio realtor Brenda Ashcraft that she defrauded investors out of millions of dollars. Recently, she pleaded guilty to these charges. According to a press release from the U.S. Attorney’s Office for the Southern District of Ohio, former Milford realtor Brenda Ashcraft has pleaded guilty to defrauding… read more

Securities America is Under Investigation for Sales Practices of Non-Traded REITS

By: Courtney Werning According to the recent annual report filed with the SEC by Ladenburg Thalmann Financial Services, Inc., which owns Securities America, the Pennsylvania Department of Banking and Securities requested that Securities America provide information concerning purchases of non-traded REIT securities by Pennsylvania residents since 2007. Last year, Securities America was one of several… read more