Lawsuit Filed against GREAT POINT CAPITAL & PETER CHERNIN

Soreide Law Group has filed a FINRA arbitration on behalf of our clients (Claimants) against: 

GREAT POINT CAPITAL LLC, and their registered representative, PETER CHERNIN (Respondents).

The Claimants reside in Florida and New York. Due to health and age-related issues, the Claimants wanted to invest $2.6 million they received from the sale of real estate into conservative investments that could help support them and carry them through retirement. The money from the sale of real estate was the culmination of over 20 years of hard work and they were not looking to gamble with it into risky investments.

The lawsuit states that the Claimant was referred to GREAT POINT CAPITAL broker, PETER CHERNIN who allegedly offered to find conservative income-generating investments. PETER CHERNIN, according to FINRA’s BrokerCheck, has been registered with GREAT POINT CAPITAL of Chicago, Illinois, since 11/30/2018.

The lawsuit alleges that GREAT POINT broker, PETER CHERNIN recommended four DSTs   (Delaware Statutory Trust) which can purchase fractional ownership in properties that are 1031 qualified without having to own the whole property. The lawsuit alleges the Claimant was adamant about PETER CHERNIN finding the safest DSTs with the lowest or no loan. Chernin allegedly came up with two Inspired DSTs, Mequon and St. Petersburg, for $1,289,206.00 combined. The lawsuit alleges that the Mequon DST was presented as having no loan on it at all with the St. Petersburg property carrying a loan to value of 41% which led the Claimant to allegedly believe they were completely safe investments. In total the Claimants, through Respondents, invested $2,664,000.00 in DSTs.  The lawsuit states that both Inspired DST’s, representing more than half of the money invested, have completely stopped paying all distributions as the distributions exceeded the operating costs. Inspired Healthcare Capital just recently filed Chapter 11 reorganization which may result in a total loss of the Inspired investments for the Claimants.

According to the lawsuit, GREAT POINT CAPITAL, and their registered representative, PETER CHERNIN’s recommendations have allegedly caused damages to the Claimant of an of at least $1,000,000 plus additional costs. The lawsuit alleges negligence, breach of fiduciary duty, and negligent supervision. No answer has yet to be filed and it is anticipated that GREAT POINT CAPITAL, and their registered representative, PETER CHERNIN, will deny any wrongdoing.

According to FINRA’s BrokerCheck, available to the public on FINRA’s website, PETER CHERNIN has been in the securities industry for 8 years and listed with 2 firms.  Chernin has one disclosure listed on his FINRA CRD report, a settled “Customer Dispute,” dated 2/8/2023.  The allegations were, “Claimants claim certain investments were unsuitable for them and that that risks of the investments were not revealed despite written disclosures. Claim also states a lack of supervision, and a failure to perform due diligence by broker dealer. Transactions at issue were Section 1031 Exchanges. Occurrences were in 2019 and 2020. Mr. Chernin is alleged to have been the registered representative involved. He is not named as a respondent.”  The settlement amount was $637,500.00.

Soreide Law Group has filed several lawsuits on behalf of our clients who were sold Inspired Healthcare Capital private placement offerings, including Delaware Statutory Trusts (DSTs) and affiliated funds following the recommendations by their broker/dealers or financial advisors. Inspired Healthcare Capital, filed for Chapter 11 Bankruptcy on February 2, 2026. This came after months of financial distress, including the suspension of investor distributions and new offerings in July 2025. The filing marks a devastating turn for thousands of retail investors who invested in the firm’s senior living and healthcare-related investment products.

To discuss this article or any other securities issues, contact Soreide Law Group and speak to an experienced securities lawyer at no cost:  888-760-6552.

Soreide Law Group represents our clients before FINRA nationwide on a contingency fee basis, no fee if no recovery.