Yield Street Freezes All Accounts!

[Andrew Hogan]

Just got off with an investor who was about to wire us money from Yieldstreet but his account with them is now frozen until further notice.

Apparently they use a third party to escrow all funds and that company has just filed for bankruptcy.

This is really unfortunate for those investors who are exposed. 

Anybody know more info? Is Yieldstreet similar Crowdstreet, Realcrowd, and Fundrise? I've heard very mixed views so just trying to understand better.

[Randy Rodenhouse]

CrowdStreet, a prominent real estate crowdfunding platform, recently faced significant issues related to its escrow practices, particularly involving investments with Nightingale Properties. Investors discovered that funds from two major Nightingale deals were not placed in escrow accounts but were directly controlled by Nightingale's Elie Schwartz. This lack of oversight allowed Schwartz to misappropriate nearly all the investor money, using it for personal expenses and risky stock trades​

I am not familiar with Yield Street, but many of these platforms are questionable and you need to look into the operator. I have used Equity Multiple and I have not had any issues to date.