Comments on: Were You Affected By Inland American, Inland Western REITs?

By: Sharen

Sharen — Mon, 23 Jan 2012 00:11:49 +0000

I was advised back in ’06 to buy Inland American & have lost nearly $20,000 to date. If there’s any way to recoup some of it, count me in, too.

By: Peter

Peter — Tue, 10 Jan 2012 03:10:38 +0000

I was sold on the virtues of Inland/REIT investments by agents of Linsco Private Ledger. I had worked with these folks for years, and trusted them implicitly. I was totally unaware of any issues with Inland until today (ignorance is bliss??). they became very evasive when I brought up the subject of withdrawing some funds. I am (was) in the process of buying my dream home and planned to tap into these funds….a significant amount… to consolidate some debt and move forward with a mortgage loan. My bubble just got burst, and somebody needs to pay. Count me in on any class action suit involving these crooks.

By: Steve

Steve — Sat, 31 Dec 2011 16:06:30 +0000

I was sold this stock by my Ameriprise financial advisor, and still cannot get rid of it. Ameriprise continues to inflate its value in my portfolio reports. I would be more than happy to join in any class action against Ameriprise on this issue.

By: William

William — Wed, 21 Dec 2011 13:57:08 +0000

I invested in this product in 2005, in October 2008, Inland sent out a mailing to all investors that we could sell off our interst. The day I received the notice I called my Financial Adviser to sell it all off. He called me back to say Inland had its quota and he could not sell my interest off. He convinced to wait and Inland would open the door again, they have not after three years.

By: Peggy

Peggy — Mon, 14 Nov 2011 20:05:02 +0000

I was sold stock in Inland Western in 2005 by my advisor with Atlanta Capitol Group and worst than that, the money came from my Cocacola stock. HOw dumb is that?? I have read all the complaints about the situation but who, if anyone is going to do anyting about it? Could there be some sort of clearing house to assemble the complaints? constant reading about it doesn’t help.I notice with all the downturn of the stock the executives salaries seem to soar!

By: Laura

Laura — Fri, 28 Oct 2011 17:21:00 +0000

My Mother was “guided” by her financial planner to purchase IW shares in 2004 to the tune of $80,000. We both thought it was doing well until the company suspended it’s buyback program and I felt she had been duped into a crummy investment -one that was supposed to fund part of her retirement. I not only blame the company for their shady practices but also the bum who invested the monies for her. I sat right next to her while he sang the praises of IW and what a great deal it was. Would love to know the “knock out” commission he grabbed in the process. This summer my Mother passed away and I tried calling him to ask him if he was still the representative for the account. He quickly told me he no longer deals with IW – what a creep. I can’t find anyone who wants to touch it. Now I have to stomach the possibility of selling to vultures on the secondary market or sticking it out to see if things turn around. What is the foreseeable future of legal ramifications against this company? Laura

By: Wayne

Wayne — Thu, 27 Oct 2011 03:45:12 +0000

We are same situation as every one else after being sold this by an Amerprise financial planner who neglected to explain that we would not be able to sell as needed. Due to some other issues we rolled over our financial accounts to another firm and he became hostile when we questioned why we could not move to Reits. He was all smiles when we were putting money in but became angry when we started asking questions. Count us in on any class action suits filed. We are retired and need every penny.

By: Scott

Scott — Sat, 01 Oct 2011 00:08:57 +0000

My financial advisor put all my kids college funds and our investments Inland American REITs at $10 and they almost immediately downgraded to $8. I’m now being told these are likely 10+ year investments and I won’t be able to access for my kids when they start college in two years. We’ve lost a signficant amount of our investment. Now our state securities dept is contacting me and doing a full investigation on how we were approached by our investment advisor. I to am willing to join any class action lawsuit if one is filed.

By: Jim

Jim — Wed, 31 Aug 2011 21:13:40 +0000

I am another who was sold large investments in Carey CPA-16 and Inland Western private REITs over my objection that I would never purchase an illiquid investment. I was given what is surely fraudulent and deceptive assurances to the contrary. It was further not disclosed that any fees were being paid by the REITs in return for sales. This information alone would have prevented me from investing. It is time for Ameriprise to pay and pay handsomely for selling out its clients who trusted them explicitly to act in our best interest and to be open and honest concerning the investments which they purveyed to us. I not only paid them a management fee, I lined their pockets with undisclosed commissions (there were supposed to e none) and incentives to deliver sales to companies offering wholly inappropriate products for seniors who, like me, were retired and had given the company a clear guideline to not lose money, even if it meant minimal returns on investment. I was able to redeem out of Carey CPA-16 at a loss, but cannot redeem Inland Western shares without a 70% loss to vulture investors. I want to be informed of any class action or other lawsuits against Ameriprise and to be updated on any ongoing actions against this company in which I may participate.

By: Dan

Dan — Thu, 11 Aug 2011 21:30:42 +0000

I am in the same sinking boat with everyone else I had a 401K that I had to move and my agent invested me in this investment approx 5 years ago. I had told the agent at the time that I was most intrested in presurving what money I had and not looking to take high risk at my age. I assumed things were fine untill I recived a letter in 2008 stating that they would no longer repurchase any shares. I am near retirement age now and have quite a bit of the investment if not all the way things are going.