Miller & Milove is a leading investment fraud and securities law firm with principal offices located in San Diego, California. We are comprised of experienced finance and business law attorneys focusing on the recovery of investor losses due to deceptive or fraudulent sales practices. Our firm possesses a reputation for excellence built on more than 27 years of professional representation of clients nationwide in complex high stakes investment related litigation, arbitration and mediation proceedings.
INVESTOR ALERT: Private Placement and “Alternative Investment” Fraud Abounds
JUNE 4, 2013: FINRA PANEL AWARDS MILLER & MILOVE CLIENT OVER $5 MILLION FOR TENANT IN COMMON FRAUD – COMPENSATORY AND PUNITIVE DAMAGES AWARDED AGAINST BROKERS FOR SALE TO RETIREES OF UNSUITABLE REAL ESTATE PRODUCTS
As conservative and retired investors continue to seek safe income producing investments in this low interest rate environment, various Wealth Management and Financial Planning firms have ramped up marketing and sales of complex, commission rich and risky “Alternative Investments“. Securities regulators, such as FINRA, have warned brokers and investment professionals that “Alternative Investments”, such as Tenant In Common Real Estate offerings (TICs), Non-traded REITS and Business Development Companies – all sold through “Private Placement” offerings – are unsuitable for most, if not all, retail investors. Representatives of the real estate syndication industry admit to the outright fraud of promoters amongst their association. However the benefit of huge commissions paid to financial planners and brokers for selling these unsuitable products has encouraged continuing unlawful sales of “Alternative Investments” and has caused devastating losses to retirees and conservative investors alike.