EcoVest Capital, Conservation Easement Investment
The White Law Group continues to investigate potential securities fraud claims involving the liability that sale agents and broker-dealers may have for improperly recommending EcoVest Capital’s conservation easement investments (tax shelter land deals) to unsuspecting investors.
Syndicated conservation easements are private placements that promise tax deductions worth four to four-and-a-half times a person’s investment. The IRS has reportedly been investigating these transactions over the past three years with questions about the accurate appraisals and valuations of properties. Some syndicated conservation easement deals are offering investors charitable contribution deductions on taxes for large amounts.
EcoVest Capital Inc. is currently involved in a lengthy lawsuit that was filed by the Department of Justice in 2018 alleging that the company organized, promoted and sold at least 96 conservation easement syndicates which resulted in over $2 billion in alleged tax deductions from “overvalued and improper” conservation contributions. The Atlanta-based real estate company reportedly insists that the allegations are false as they wait for a trial that the DOJ has reportedly delayed for a two year period.
On March 27th, 2019 the Senate Finance Committee reportedly launched an investigation into conservation easements after the Brookings Institution reportedly found that conservation easements cost the federal government more than $3 billion dollars in 2014 alone with that amount expected to increase each subsequent year.
Apparently the Senate Finance Committee believes that groups of taxpayers are using syndicated conservation easements to reap tax benefits greater than their initial investments, according to various reports.
Filing a Complaint against your Brokerage Firm
The White Law Group is investigating potential claims involving sales agents and broker-dealers who may have unsuitably recommended EcoVest Capital offerings such as EcoVest Total Return Fund to investors.
Broker dealers are required to perform adequate due diligence on any investment they recommend and to ensure that all recommendations are suitable for the investor. Recommendations should be appropriate in light of the investor’s age, risk tolerance, net worth, and investment experience.
Broker dealers that fail to adequately disclose risks or make unsuitable investment recommendations can be held liable for investment losses in a FINRA arbitration claim.
To speak to a securities attorney about the potential to recover your investment losses, please call The White Law Group at 1-888-637-5510 for a free consultation.
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 Franklin, Tennessee. To learn more about The White Law Group visit www.whitesecuritieslaw.com.