Have you suffered investment losses in the Desert Capital REIT? The White Law Group may be able to help.
The White Law Group is investigating potential securities fraud claims on behalf of investors involving various broker-dealers’ recommendation that investors purchase risky REIT investments like Desert Capital REIT.
FINRA recently announced that it is paying close attention to the sale of REITs and, in particular, the ways in which broker/dealers marketed and sold the products to investors. In many cases, and notwithstanding the risk of REIT investments, broker-dealers marketed these investments as safe and secure.
According to the Las Vegas Review Journal, Desert Capital was recently subpoenaed by the S.E.C. pertaining to payments and transactions between Desert Capital and a related party, CM Capital (http://www.lvrj.com/business/desert-capital-real-estate-investment-trust-subpoenaed-by-sec-108897634.html). Interestingly, Todd Parriott is the CEO of Desert Capital, CM Capital, and CM Securities (one of the main broker-dealers marketing Desert Capital to investors). Additionally, it appears that Desert Capital has stopped allowing investment redemptions due to liquidity issues.
To determine whether you may be able to recover investment losses incurred as a result of your purchase of Desert Capital REIT, 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. With over 30 years of securities law experience, including experience working at FINRA (f/k/a the NASD) and the SEC, The White Law Group has the expertise to help investors defrauded in securities, investment and financial business transactions.
For more information on The White Law Group, please visit our website at https://www.whitesecuritieslaw.com.