Broker-dealers slap a stop order on Nicholas Schorsch’s REITs
B-Ds halting sales of Schorsch's REITs include some of the largest and most influential in the industry
Independent broker-dealers with their nearly 40,000 registered reps and investment advisers have pulled the plug, at least temporarily, on selling Nicholas Schorsch's nontraded real estate investment trusts after a $23 million accounting error came to light at the REIT czar's company.
An analysis
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