Ecovest’s Riverside Preserve Holdings, Conservation Easement Investment
The White Law Group is investigating potential securities fraud lawsuits against broker dealers or sales agents who may have unsuitably recommended Riverside Preserve Holdings LLC to unsuspecting investors.
Ecovest Capital is a sponsor of syndicated conservation easement investments. These private placement investments promised 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 in tax deductions.
EcoVest Capital filed a form D to raise capital from 60 investors in 2016 for the offering Riverside Preserve Holdings LLC. The total offering amount sold was purportedly $5,323,304.
The Department of Justice reportedly filed a lawsuit against several conservation easement sponsors including EcoVest Capital in 2018 after the IRS began investigating taxpayers who are using questionable appraisals, and taking inappropriately large deductions for easements.
The lawsuit alleges that the companies are overvaluing and fraudulently distributing conservation easement tax deductions. The suit is currently ongoing.
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.
Filing a Complaint against your Brokerage Firm
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 Riverside Preserve 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. To learn more about The White Law Group visit www.whitesecuritieslaw.com.