Inland American Real Estate Trust Inc., the largest nontraded real estate investment trust, (also known as nontraded REITs), worth $10.8 billion, reported on March 13, 2013, that some of their investors are alleging the REIT's management failed in its fiduciary responsibility, resulting in false valuations and excess fees being paid to the REIT's business manager. […]

Soreide Law Group is investigating NFP Securities, Inc.'s, sale of GK Retail Properties Fund III, LLC. Soreide Law has been contacted by several investors wanting to initiate FINRA arbitrations against NFP Securities for the sale of GK Development Inc., investments. One FINRA arbitration involving NFP’s sale of GK Retail Properties Fund III, has already been […]

According to a recent article in InvestmentNews.com, these are the top-10 muni funds with the highest percentage of unrated bonds: Invesco High Income Municipal A: 64.3% Invesco Van Kampen High Yld Municipal A: 61.3% Nuveen High Yield Municipal Bond A: 46.9% Waddell & Reed Muni Hi-Inc A: 44.9% Oppenheimer Rochester National Muni A: 43.0% Pioneer […]

It was reported on FINRA's BrokerCheck that in October of 2012, Clyde Marshall Thornburg, CRD# 1065161, was permanently barred from association with any FINRA member in any capacity by FINRA. Thornburg allegedly traded UITs (Unit Investment Trusts), corporate debt obligations, and mutual funds in his customers’ accounts. FINRA found that Thornburg executed trades that were […]

Gary Lane, a Reno financial advisor, appeared in court recently due to investment fraud charges after being charged with 12 counts of mail fraud and five counts of attempt to evade or defeat taxes. He's alleged to have defrauded six people of more than $2 million while working at Bank of America and allegedly filed […]

A Wells Fargo Advisors investment adviser was sentenced to a two-year federal prison March 4th., 2013, for his role in an investment scheme in which he stole nearly $1 million in profits from trades executed on his clients' behalf. Philip D. Horn, 51, a former managing director at the Westwood Village branch office of Wells […]

On FINRA's website, the Financial Industry Regulatory Authority, announced that it has barred broker Jeffrey Rubin of Lighthouse Point, Florida, from the securities industry for making unsuitable recommendations to his customer, an NFL player, to invest in illiquid, high-risk securities issued in connection with a now-bankrupt casino in Alabama. As a result, the customer lost […]

Soreide Law Group is investigating potential claims against John Thomas Financial. John Thomas Financial raised approximately $5,000,000 as the lead underwriter for America West. Many investors have suffered complete losses in this investment. In October 2008, John Thomas Financial acquired 15,000,000 warrants, and 5,000,000 options on America West. John Thomas Financial, owned by Anastasios “Tommy” […]

Soreide Law Group, PLLC, had begun an investigation on behalf of clients of Jason T. Knapp, formerly employed by Dawson James Securites. Knapp was charged with allegedly running a Ponzi scheme through SteepleChase Group. Knapp allegedly promised his clients, many from New York and Florida, unrealistic returns of 18 to 20 percent. Knapp was registered […]