This action stems from the alleged fraudulent offer and sale of unregistered securities for the purchase of distressed real estate for investment.  Allegedly, “[Defendant] The Companies or its subsidiary…initiated four unregistered offerings of securities from January 2009 to June 2011.”  According to the complaint, “the four offerings raised a total of approximately $11.9 million from approximately 169 investors.”

Source: Life Insurance & Annuities Client Alert
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