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SEC Charges Virginia Investment Adviser with Orchestrating a Fraudulent Investment Scheme

The SEC’s complaint alleges that, from at least January 2014 through September 2019, Ryan R. Riley, of Leesburg, Virginia, solicited advisory clients and other individuals to invest in securities issued by his companies, Green Light Energy, LLC and Mustang Resources, Inc. According to the complaint, Riley induced investors to invest by claiming that he would […]

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Blackstone Defaults On $562MM CMBS

This morning Bloomberg reports that Wall Street’s largest commercial real estate landlord, private equity giant Blackstone, has defaulted on a $562 million bond backed by a portfolio of offices and stores owned by Sponda Oy, a Finnish landlord it acquired in 2018. And while Blackstone is trying to minimize the news, the private equity firm clearly continues […]

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Former Convicted Felon to Pay $24 Million to Settle SEC Charges for Operating a Ponzi and Pyramid Scheme

The Securities and Exchange Commission today announced the resolution of its fraud action against Eric J. “EJ” Dalius and the business he owned, Saivian LLC. Dalius and Saivian LLC have agreed to pay $24 million in disgorgement, prejudgment interest and penalties to settle the SEC’s claims against them for operating a multi-million dollar Ponzi and […]

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Blackstone Caps BREIT Withdrawals in January

Blackstone’s retail real estate fund limited investor withdrawals in January after outsize redemption requests that totaled more than $5 billion. Blackstone Real Estate Income Trust, known as BREIT, posted a statement Wednesday on its website that it filled 25% of investor withdrawal requests during January, in keeping with a policy of limiting monthly redemptions to […]

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National Realty Investment Advisors (NRIA) Ponzi Scheme

The president and a top officer of a real estate investment company were charged for their roles in a scheme to defraud more than 2,000 investors in a $650 million Ponzi scheme, and with conspiring to evade $26 million in tax liabilities, according to the U.S. Attorney’s Office. Thomas Nicholas Salzano, aka “Nicholas Salzano,” 64, of […]

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