At Soreide Law Group, we're actively probing into the potential investor claims tied to broker-dealers. There are concerns that some might have inappropriately advised for investors to purchase Parking REIT (recently rebranded as Mobile Infrastructure Corp.).
Shares of Mobile Infrastructure Corporation are reportedly valued at $14.76 per share as of August 2022.
SEC pressed fraud charges against a Parking REIT executive and Vestin Mortgage LLC (the executive’s advisory). The allegations include the diversion of $29 million from Vestin Realty Mortgage I and II into The Parking REIT and the orchestration of money-draining transactions that supposedly profited the executive and The Parking REIT.
It's a harsh reality that several investors plunge into alternative investments without a full grasp of the associated risks. These investments, by nature, are intricate and rife with uncertainties. Conventional investment avenues include mutual funds, bonds, and stocks. REITs are a different ball game and resonate more with seasoned or institutional investors.
The illiquidity of alternative investments is another hurdle. Investors keen on offloading such investments often hit a wall or suffer massive losses if they manage a sale. Securities firms, on their part, are bound by duty to conduct thorough research on any investment they pitch and must ascertain its suitability for the investor. Any lapses in this regard could open the door for accountability for resultant losses via an investor claim or lawsuit.
At Soreide Law Group, we're currently championing the cause of aggrieved investors in claims against their brokerage entities. If your investments in the Parking REIT (now Mobile Infrastructure Corporation) have caused you losses, get in touch with Soreide Law Group online or at (888) 760-6552 and talk with a securities lawyer concerning a potential recovery. Soreide Law Group, who has helped recover money for investors throughout the country, works on a contingency fee basis and advances all costs.
Soreide Law Group has filed a FINRA arbitration on behalf of our clients (Claimants) against: CONCORDE INVESTMENTS SERVICES, LLC, and BERTHEL, FISHER & COMPANY FINANCIAL SERVICES, INC (Respondents). The Claimants are in their late 70s, retired, and according to the lawsuit, were not looking to take any unnecessary risks with their retirement savings. The Claimants […]
THEODORE WILLIAM BYRER (THEODORE W BYRER, TED BYRER) was registered as a broker with MORGAN STANLEY of Indianapolis, Indiana, from 11/11/2013 - 04/20/2023. He was most recently registered with INTERNATIONAL ASSETS ADVISORY, INC of Westfield, Indiana, from 05/09/2023 - 09/17/2024. According to his BrokerCheck CRD report, dated 7/23/2026, THEODORE W BYRER was suspended for 14 […]
MARK LAWRENCE SULLIVAN (MARK SULLIVAN, MARK L SULLIVAN), formerly with UBS Wealth Management USA in New York City, was fined $10,000 and suspended for three months by the Financial Industry Regulatory Authority (FINRA) over allegations that he traded in customers’ accounts without the proper approval. Sullivan was previously registered both as a broker and as an […]
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