Have you suffered investment losses in a tenant in common or other real estate investment put together by Tax Strategies Group (or its subsidiary TSG Real Estate LLC)? If so, The White Law Group may be able to help you recover your losses through FINRA arbitration.
Tax Strategies Group is a Chicago based real estate company that has put together a number of tenant in common (TIC) projects over the last 10 or so years. It has been reported that in January 2009, the Illinois Secretary of State issued a Temporary Order of Prohibition prohibiting Wayne “Rob” Hannah and TSG Real Estate from selling any additional securities in that state. The finding is that Hannah and TSG failed to adequately disclose to new investors that the firm had a number of unhappy investors in prior projects and had been sued in 2003. Illinois purportedly determined that such material disclosures were necessary because many investors would not have invested with TSG if they were aware of these claims.
In also appears that Tax Strategies Group filed for Chapter 11 bankruptcy in the Northern District of Illinois in or about 2010.
The White Law Group is investigating the liability that brokerage firms and financial professionals may have for recommending TSG real estate offerings. Brokerage firms have a duty to perform adequate due diligence on any investment before recommending it and to make sure that any recommendation is appropriate in light of the client’s age, investment experience, net worth and investment objectives.
In light of the information now available regarding Tax Strategies Group / TSG, it appears that some broker dealers may have failed to properly due diligence on these TIC offerings before recommending them to their clients.
To determine whether you may be able to recover investment losses incurred as a result of your purchase of a TSG real estate investment, please contact The White Law Group at 312-238-9650.
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.
For more information on The White Law Group, visit http://www.whitesecuritieslaw.com.