Inland American REITs: Fraud Recovery For Investors
Investments in Inland American REITs have backfired for investors throughout the country. In many instances, these products – including the Inland American Real Estate Trust and Inland Western Retail Real Estate Trust – were pitched by broker/dealers as a low-risk, conservative investment. In reality, however, investors were putting their money into non-traded REITs, and the qualities that define these REITs are anything but conservative.
Non-traded REITs (or unlisted REITs) are not listed on a stock exchange. Redemptions in them are limited at best. Perhaps the biggest downside to non-traded REITs is their fees, which in some cases can be upwards of 15%.
Many investors were woefully unaware of the high fees associated with their non-traded REITs – until it was too late. And for some broker/dealers, that’s just what they had in mind when they pitched these products to their conservative clients.
Maddox Hargett & Caruso is investigating a number of non-traded REITs, including the Inland American Real Estate Trust and Inland Western Retail Real Estate Trust. If you suffered investment losses in either of these REITs or another non-traded REIT, contact us to tell your story. A member of our securities fraud team will work with you to determine if some or all of your losses can be recovered.
February 19th, 2010 at 1:34 am
I have read the article with interest and would like to hear more from you on my Inland America REIT investment ($10,00.00) I have been invested since July 2007. Sounds like another winner that my Financial Adviser David Witter in Maitland, FL so strongly recommended. I would like to hear from your company.
Thank you. Russell
March 28th, 2010 at 2:30 pm
my mother invested 10,000.00 almost 10years ago in inland western as advised by a investor in capitol bank in ft.ogle,ga.the monies was to pay for her and my fathers funerals,or so she thought.now she has pancertic cancer and not long to live.we go to get her monies to prepay for her funeral and find out we can not get her money.she is 70 years old my father is 74 this should be a crime.but what do we do ???
January 19th, 2011 at 3:22 am
Hi My relative who passed in 2009 had 33000 invested with Inland American and really had no clue to what she was doing. Unknown if she even knew what her advisor was doing as she had alzheimers.. Advisor stated that he did it so she would have extra income to live on .
May 25th, 2011 at 10:40 am
What a disappointment! Looking for conservative investments as retirement approaches–Listened to my Ameriprise advisor and may have lost a big chunck. I wonder what about “conservative and retirement funds” they found so hard to understand. Perhaps the 15% commission clogged their ears.
December 27th, 2011 at 7:58 pm
A “financial advisor”/SALESMAN recommended Inland America and other reits – to the tune of over $100k. He’s a crook, and these are terrible investments! We should start a class action suit.