Results for "real estate investment trusts (REITs)"

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ARCP Ex-CFO Brian Block guilty of securities fraud

June 30, 2017

A New York federal jury on Friday found Brian Block, the former chief financial officer of American Realty Capital Properties Inc., a giant REIT once controlled by Nicholas Schorsch, guilty of cooking the books at the net lease real estate investment...

Brian Block denies cooking the books at Schorsch REIT

June 27, 2017

Fighting to prove his innocence from federal securities fraud charges, Brian Block, the former CFO of a giant REIT formerly controlled by Nicholas Schorsch, took the stand in federal court in Manhattan on Monday and testified he did not fudge...

Feds move to undermine CFO Brian Block's defense of inaccurate financial filings at ARCP

June 28, 2017

During cross-examination at his securities fraud trial Wednesday, Brian Block, the former chief financial officer at American Realty Capital Properties Inc., asserted that he wasn't operating in a "silo" when calculating a key accounting metric...

Brian Block's lawyer portrays prosecution witness as a liar

June 21, 2017

The defense for Brian Block hit back Tuesday at a key witness in the government's securities fraud case against the former real estate executive, portraying the witness, Lisa McAlister, as a liar who would testify to almost anything to protect...

Brian Block trial witness says Nicholas Schorsch had hand in cooking the books at ARCP

June 20, 2017

A key witness in the trial of Brian Block, the former chief financial officer of a giant real estate investment trust once controlled by Nicholas Schorsch, suggested Monday that Mr. Schorsch had a hand in cooking the company's books by directing...

Defense hits key government witness in Brian Block fraud trial

June 16, 2017

The defense for Brian Block, the former chief financial officer for American Realty Capital Properties Inc. who is on trial for securities fraud, continued to work to undercut a key government witness who worked alongside Mr. Block in creating...

Trial begins for former CFO of ARCP, Brian Block

June 14, 2017

Did Brian Block, former chief financial officer of a giant real estate investment trust once controlled by Nicholas Schorsch, cook the books in 2014 as he faced pressure to hit financial goals for the company? Or, rather, did Mr. Block act in...

Accounting at ARCP center of fraud charges against Brian Block

June 15, 2017

A former high-ranking executive at American Realty Capital Properties Inc. testified on Tuesday afternoon and Wednesday that in emails and meetings in 2014 he repeatedly raised the warning of an accounting mistake in the real estate investment...

Grant Thornton resigns as auditor for eight Schorsch-linked nontraded REITs

January 28, 2015

The accountant for eight nontraded real estate investment trusts managed by Nicholas Schorsch's privately held real estate manager, American Realty Capital, has resigned. Grant Thornton on Jan. 22 resigned as the independent registered public...

New Jersey fines David Lerner Associates for nontraded REIT sales

May 26, 2017

New York-based David Lerner Associates Inc. has signed a consent order from the New Jersey Department of Securities resolving allegations that it unlawfully sold nontraded REITs in the state. In signing the consent order, the firm agreed to...

Stripped of fat commissions, nontraded REIT sales tank

December 7, 2017

The Department of Labor's fiduciary standard, and new securities industry account statement rules for greater clarity in the prices of products, have forced nontraded real estate investment trusts to slice their commissions. Since then, sales...

Nicholas Schorsch 'highly focused' on cash-flow metric at center of alleged ARCP fraud: Feds

May 18, 2017

Nicholas Schorsch, the former executive chairman of the giant REIT American Realty Capital Properties Inc., now called Vereit Inc., had a keen interest and was "highly focused" on a cash-flow metric that the federal government alleges was at...

LPL may have to refund up to $8 million to resolve New Hampshire REIT case

May 3, 2017

LPL Financial could end up refunding $8 million to clients under a settlement it reached with the the New Hampshire Bureau of Securities over sales of nontraded real estate investment trusts. LPL and New Hampshire reached the settlement in December...

No end in sight for Schorsch tear

October 6, 2013

If there's anything to be said about Nicholas Schorsch's buying binge of financial services companies, it's this: He's not done yet. Last week, Mr. Schorsch, who built his reputation by running a successful nontraded-REIT business, American...

Investors ready for alts

September 22, 2013

Advisers who may still fear a client's look of horror for recommending alternative investments should take note of these survey results — investors are ready to listen. About 72% of investors would consider alternative investments if their...

The Takeaway: Are you ready for the REITnado?

August 12, 2013

Portfolio Focus on performance, not celebrating your investing philosophy.  (Abnormal Returns) Jeremy Schwartz (WisdomTree) weighs in on the Japan trade.  (WisdomTree) Yo, where are the earnings?  (Financial Times) "PowerShares may not be...

Over the border

September 8, 2013

It seems that interest in retiring overseas is growing as some aging baby boomers review their often-inadequate nest eggs and contemplate creative alternatives to live the good life. Ironic, isn't it? For some people, the only way to live out...

REIT board asks Thompson to resign

August 18, 2013

In the wake of allegations by the Financial Industry Regulatory Authority Inc. against Tony Thompson, the board of the nontraded REIT he runs has asked him to resign. In addition to stripping Mr. Thompson of his co-chief executive title, the...

Schorsch in $2.3B deal with Inland

August 11, 2013

Nick Schorsch is exiting the net-lease real estate investing business with a bang. Three real estate investment trusts that he controls said Friday that they have reached agreements to acquire close to $2.3 billion in net-lease real estate assets,...

Inland taps a rival for its CEO

August 11, 2013

Inland Real Estate Investment Corp., once the dominant player among nontraded REITs, has turned to a rival for its next chief executive. Inland, which has seen sales slide, said last Monday that it has tapped Mitchell Sabshon, most recently...

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