MCI Preferred Income Fund II – Securities Investigation
Are you concerned about your investment in MCI Preferred Income Fund II? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Arbitration claim against the brokerage firm that sold you the investment.
According to SEC filings, MCI Preferred Income Fund II, based in Farmer’s Branch, Texas, filed a Form D in 2017 to raise capital from investors. The total offering amount was $200,000,000.
MCI Preferred Income Fund II is a Regulation D private placement investment. Investments such as these are typically sold by brokerage firms in exchange for a large up front commission. High fees can range from 7-10%, as well as additional “due diligence fees” that can range from 1-3%. In this case, the form D says the sales commissions were 10%.
The problem with private placement investments such as MCI Preferred Income Fund II is that they typically involve a high degree of risk. They are also often sold as unregistered securities which lack the same regulatory oversight as more traditional investment products like stocks or bonds.
Investigating Potential Claims
The White Law Group is investigating potential claims involving brokerage firms who may have for improperly recommended high-risk private placements, like MCI Preferred Income Fund II to investors.
Broker dealers are required to perform adequate due diligence on any investment they recommend. They must ensure that all recommendations are suitable for the investor. Firms that fail to do so, may be held responsible for any losses in a FINRA arbitration claim.
If you have concerns regarding your investment in MCI Preferred Income Fund II and would like to speak with a securities attorney about your options, please call The White Law Group at 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.
For more information on The White Law Group and its representation of investors in FINRA arbitration claims, visit https://www.whitesecuritieslaw.com.