Nightengale Back in the News

[Chris Seveney]

Below is a recent Bisnow article. If you are unfamiliar with this case, it is fascinating read. The reason I am sharing this, is the investors are taking action. I go my the saying "inaction is the worst action"- meaning sitting around waiting is not what you should be doing. This does not matter whether its a syndication or a JV deal. Honestly I see it far more often in JV deals because the individual "knows" the sponsor. The longer you usually sit and wait, the worse it gets.

If you are stuck, what I recommend is spending a few hundred bucks and speak to an attorney. Get advice. There are many things you can do like file complaints with state financial commission, the SEC, FINRA and other agencies. Many will probably go unnoticed but its a start. It is important also to talk about these things online so others do not get burned. There was a recent post here on BP where the person lost all their money in several deals and would not call out the sponsor. To me, then do not post about it. It is the "I have a secret but I cannot tell you". As long as you are being truthful, let the truth be known. What you should not do is slander anyone. Speak facts not opinion. 

Back to nightengale, I do wonder if he will end up in prison? This is NY we are talking about.

Judgment Day: Burned Investors Move To Seize Elie Schwartz's Assets (bisnow.com)

[Ronald Rohde]

yeah, the lack of internal and external controls boggles my mind. How could we YOLO into First Republic Stock? How could he have cash and not close?

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