Kalos Capital investigation into non-traded REIT and private placements
The securities attorneys at The Law Office of David Liebrader have opened an investigation into the private placement activity of Kalos Capital, an Alpharetta, Georgia based broker dealer with offices in Las Vegas, Nevada.
The pending customer complaint that gives rise to the investigation concerns an over concentration into high commission, high risk private placement investments in REITs and oil and gas programs. Among the investments are GPB Waste Management, Peachtree Hotel Fund, HPI Real Estate Fund, Waveland Resources, the Shopoff Land Fund and GPB Holdings II. These investments were recommended to an elderly investor as a means of providing income to him in retirement. Instead, due to an over concentration into these illiquid programs, the client has been unable to liquidate his holdings, and has suffered substantial unrealized losses. We have previously blogged about Shopoff and GPB Capital Holdings’ issues with regulators.