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Real Estate Investment

Investor Rights Attorney Dan Broxup of Mika Meyers, PLC is Investigating Claims Against Brokerage Firms that Made Unsuitable Recommendations of United Development Fund IV

Investor Rights Attorney Dan Broxup of Mika Meyers, PLC is Investigating Claims Against Brokerage Firms that Made Unsuitable Recommendations of United Development Fund IV

This year has truly been an annus horribilis for investors in United Development Fund IV. In February, the beleaguered real estate investment trust was publically labeled a Ponzi scheme by a prominent hedge fund manager. Shortly thereafter, its offices were raided by the FBI. In October, the trust reported that it had…

Investors Hit By Property Scams Emanating Out of Michigan

Investors Hit By Property Scams Emanating Out of Michigan

Property scams emanating out of Michigan have been in the news in recent weeks. Last week, Crain’s Detroit Business reported that the FBI is investigating Dearborn-based Metro Property Group LLC, the largest purchaser of tax auction properties in Wayne County in recent years. The criminal investigation comes after Metro was…

SEC Files Complaint Against Marquis Properties, LLC and Its Principals in Connection With Alleged $28 Million Ponzi Scheme

SEC Files Complaint Against Marquis Properties, LLC and Its Principals in Connection With Alleged $28 Million Ponzi Scheme

The Securities and Exchange Commission has initiated legal proceedings against Marquis Properties, LLC (“Marquis”) and its principals Chad R. Deucher and Richard Clatfelter in relation to an alleged $28 million offering fraud and Ponzi scheme involving 250 investors. Marquis is a Utah-based company that holds itself out as an accomplished…