First Capital Real Estate Trust Inc. - SEC Files Complaint

First Capital Real Estate Trust Inc.  – Complaint Filed by SEC | Goodman & Nekvasil P.A. May Recover Investor Losses

According to the SEC Allegations

The Securities and Exchange Commission charged Suneet Singal and three entities with two separate frauds, one relating to First Capital Real Estate Trust Inc. (First Capital REIT), and the other relating to a business development company (BDC).

According to the SEC's complaint, Singal falsely claimed that he beneficially owned 12 hotels and purported to contribute them to First Capital REIT in order to acquire a $15.2 million interest in the REIT's operating partnership. Singal and First Capital REIT then made material misrepresentations and omissions concerning the hotels in several Commission filings. The complaint alleges that, as a result of Singal's conduct, First Capital REIT reported inflated net asset values and issued common shares to investors at inflated prices.

The SEC's complaint further alleges that, after acquiring an ownership interest in a BDC's external investment adviser, Singal directed the BDC to make two $1.5 million loans to an entity that he controlled, and then used nearly half of the loan proceeds for his own purposes. The BDC completely lost its $3 million investment.

Investors in First Capital Real Estate Trust Inc. May Recover their Losses with Goodman & Nekvasil, P.A.

If you invested in First Capital Real Estate Trust Inc., Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, has recovered more than $180 million dollars on behalf of victimized investors. 

All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years. 

There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

If you incurred investment losses and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.