Fidelity, Pershing, Schwab join suspension of Schorsch REITs
The clearing and custody giants have followed B-Ds by suspending sales of nontraded REITs controlled by Nicholas Schorsch, presenting another potential blow to the real estate czar's business.
After an accounting scandal rocked one of Nicholas Schorsch's companies, broker-dealers began suspending trades of nontraded real estate investment trusts packaged and managed by companies he controlled. Now, three giants in the clearing and custody industry have followed suit, presenting another po
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