Recovery of Desert Capital REIT Investment Losses
FINRA recently announced that it is paying close attention to the sale of REITs and, in particular, the ways in which broker-dealers marketed and sold the products to investors. Notwithstanding the risk of REIT investments, in many cases, broker-dealers marketed these investments as safe and secure.
According to the Las Vegas Review Journal, Desert Capital REIT was recently subpoenaed by the S.E.C. pertaining to payments and transactions between Desert Capital and a related party, CM Capital. Additionally, it appears that Desert Capital has stopped allowing investment redemptions due to liquidity issues and may even be contemplating bankruptcy.
The White Law Group has already filed one FINRA arbitration on behalf of numerous Desert Capital REIT investors, alleging damages in excess of $2.7m, and the firm is currently reviewing additional potential Desert Capital REIT cases.
To determine whether you may be able to recover investment losses incurred as a result of your purchase of Desert Capital REIT, please contact The White Law Group at 312-238-9650.
For more information on The White Law Group, please visit our website at http://www.whitesecuritieslaw.com.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida. With over 30 years of securities law experience, including experience working at FINRA (f/k/a the NASD) and the SEC, The White Law Group has the expertise to help investors defrauded in securities, investment and financial business transactions.
The White Law Group
P.O. Box 577407
Chicago, Illinois 60657
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