Articles Posted in Scams

Massachusetts Sues LPL Financial Over Non-Traded REITs
The Doss Firm

On December 12, 2012 the Massachusetts Securities Division filed suit against LPL Financial, LLC regarding the sale of non-traded REITs. Massachusetts specifically targeted LPL’s sale of Inland American Real Estate Trust. According to the complaint, LPL received at least $1,403,477.40 in commissions from sales of Inland American’s non-traded REITs. According to a recent article in InvestmentNews entitled Galvin’s LPL…

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Did David Lerner Associates Violate the Law by Failing to Re-Price Apple Reit Investments?
The Doss Firm

Apparently since David Lerner began selling Apple REIT investments to moms and pops across the country ($6.8 billion), it has consistently listed the price per share of the various Apple REIT investments as $11. The accuracy of this $11 per share amount is undermined, however, by the fact that the values and profitability of the…

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Will FINRA’s Complaint Against David Lerner Cause Apple REIT to Deny Redemption Requests by Investors?
The Doss Firm

Last week, FINRA’s complaint filed against David Lerner & Associates triggered a storm of media attention scrutinizing the brokerage firm’s alleged sales practices violations related to its distribution of Apple REITs investments. The FINRA complaint also exposed that the $11 price per share of all Apple REITs offered are overvalued and that each REIT has…

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Attention David Lerner Customers Invested in Apple Reits: Tips to Help Recover Your Losses
The Doss Firm

If you are a David Lerner customer who is invested in Apple REITs and have read the newspapers this week, you have probably been searching for quality information to help you assess whether: (1) your REIT investments have lost money; (2) you are in danger of losing money and (3) there are any steps that…

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Are the Wheels Coming off Apple REITS Sold by David Lerner?
The Doss Firm

The New York headquartered brokerage firm David Lerner & Associates has marketed Apple REIT’s to its customers as investments that provide safe income. Since 1992, David Lerner has sold more than $6 billion of Apple REITs into over a hundred thousand of its customer accounts. More specifically, since January 2011, David Lerner has sold over…

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David Lerner Associates, Inc. Sued by FINRA Related to Apple Reits
The Doss Firm

The Wall Street Journal reports that FINRA filed suit against David Lerner Associates, Inc. for allegedly failing to satisfy its due diligence and suitability obligations in connection with the sale of Apple REITs. Since 1992 David Lerner has sold more than $6 billion in Apple REITs to its investors. The FINRA complaint alleges that the Apple REITs…

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FINRA Takes Aim at Brokers Selling Reverse Convertible Notes
The Doss Firm

Investment News reports that Richard Ketcham, FINRA’s chairman and chief executive last week warned an audience of more than 900 industry professionals at the regulator’s annual meeting in Washington that the regulator is focusing on broker-dealers that sell structured products such a reverse convertible notes. This news comes on the heels of our blog post last…

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Attention New Birth Missionary Baptist Church Members: Immediate Steps to Take If You Suffered Investment Losses From Ephren Taylor, Capital City Corp. and/or Bishop Eddie Long
The Doss Firm

On September 28, 2010, at the outset of the sex scandal that ripped through New Birth Missionary Baptist Church, we posted a blog post entitled, Atlanta Journal Constitution reports over the last couple days about Bishop Eddie Long going “viral” in an attempt to recover lost money on behalf of trusting church members, it is clear that…

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Securities America, Inc. and Massachusetts Securities Regulators Square Off
The Doss Firm

According to Investment News, the brokerage firm Securities America, Inc. and the Massachusetts Securities Division squared off over charges that the firm misled 60 investors in the state who bought $7.2 million in MedCap notes from the firm’s brokers. In total, 400 Securities America reps and advisors sold about $700 million of the private placement notes…

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Bishop Eddie Long’s New Birth Church Members Are Sitting Ducks for an Affinity Fraud Investment Scam
The Doss Firm

Last Sunday, as I drove home from my church in Marietta, Georgia, I thought about Bishop Eddie Long, a person who prior to last week I had never heard of much less ever thought about. My wife had told me that he was speaking to his congregation Sunday morning, the media would be in attendance,…

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