What I'm Reading Shots Fired: The SEC is targeting a crowdfunding portal in its first enforcement action in the space. Regulators sued the operator of a funding portal, TruCrowd Inc., for allegedly failing to heed red flags despite allegedly being told that one of the key players had a criminal...
May 28th – Risky Business
One Big Thing Real Assets Adviser / IREI published an editorial that I wrote about some of the often-unseen risks in crowdfunded real estate transactions as part of their June edition: Warren Buffet famously said, “Only when the tide goes out do you discover who’s been swimming naked.” In recent...
March 30th – Game Over
What I'm Reading Game Over: Massive crowdfunding sinkhole Prodigy Network has filed for Chapter 7 bankruptcy. The company, which had raised a reported $690MM from investors was overleveraged and besieged by lawsuits when its founder died suddenly in May and investor communication ceased. This is a tragic reminder of the...