Belle Harbour Resort Holdings, EcoVest Capital Conservation Easement Investment
Are you concerned about your investment in Belle Harbour Resort Holdings LLC? If so, the securities attorneys at The White Law Group may be able to help you.
The White Law Group is investigating potential securities fraud claims against broker dealers or sales agents selling conservation easements (tax shelter land deals) to unsuspecting investors.
Syndicated conservation easements are private placement investments that promise tax deductions possibly worth four to four-and-a-half times a person’s investment. That means an investor could hypothetically turn a $100,000 investment into $400,000 or more of tax deductions.
These syndicated conservation easements are often sold through independent broker-dealers or directly by attorneys and CPAs who create the syndications, according to industry observers.
Belle Harbour Resort Holdings LLC reportedly filed a form D to raise capital from investors in 2015 and the total offering amount sold was purportedly $ 13,083,632. Sales commissions and fees were estimated at more than 9%, according to SEC filings. EcoVest Capital is the managing entity, according to the Form D.
The IRS has reportedly seen abuses of this tax provision and it is currently investigating taxpayers who are using questionable appraisals, and taking inappropriately large deductions for easements.
Investors who received charitable contribution deductions of more than 2.5 times their investment could possibly be audited, and potentially even hit with a revised tax bill.
Investors may have Recovery Options
Prior to making recommendations to an individual investor, brokerage firms are required by the Financial Industry Regulatory Authority (FINRA) to disclose all the risks of an investment. Recommendations should only be made if the investment is suitable for an individual investor given their age, investment objections, investment experience and risk tolerance.
Brokerage firms that do not perform adequate due diligence on an investment and/or make unsuitable recommendations can be held accountable for investment losses through FINRA arbitration.
If you have suffered investment losses in Belle Harbour Resort Holdings LLC, the securities attorneys at The White Law Group may be able to help you. For a free consultation with a securities attorney, please call The White Law Group at 1-888-637-5510.
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.