Fundraising for American Realty Capital REITs declined 58% last month while Cole Capital suffered an 81% falloff in the wake of an accounting scandal. <i>(See also: <a href="//www.investmentnews.com/article/20141208/FREE/141209911/st-nicholas-puts-holidays-on-ice"" target=""_blank"" rel="noopener noreferrer">St. Nicholas puts holidays on ice</a>)</i>
Nicholas Schorsch is taking a step back from the top role at three nontraded REITs he controls, handing the reins of two to his longtime investment partner. <i>See also: <a href="//www.investmentnews.com/article/20140917/INFOGRAPHIC/140919935"" target=""_blank"" rel="noopener noreferrer">Schorsch's vast web of businesses</a></i>
The rise and fall of the notorious owner and CEO of the defunct independent broker-dealer John Thomas Financial is now complete, and senior columnist Bruce Kelly says the industry won't miss him.
The accountant for eight nontraded REITs managed by Nicholas Schorsch's privately held real estate manager, American Realty Capital, has resigned.
Answers to three big questions when investigating nontraded REITs, BDCs are key before investing client assets
Morgan Stanley fired an employee in its wealth management group who had stolen client data and posted some of it online. The theft affected up to 10% &mdash; 350,000 &mdash; of the firm's 3.5 million wirehouse clients.
'Upside outweighs downside,' according to RCAP analyst; debt downgrade result of resignations
Cash and stock deal values the firm, with about 450 independent reps and advisers, at 39.4%, lower than other recent deals.
Mr. Khuzami, who is now a partner at Kirkland & Ellis, has signed on as Mr. Kay's attorney in the defense of a complaint filed in December.
A blockbuster lawsuit alleging misconduct by Nicholas Schorsch is one of many issues confronting his vast real estate empire.
