Charges have recently been filed with the Financial Industry Regulatory Authority (“FINRA”) against broker James Lamont and Independent Financial Group. The charges allege that James Lamont recommended tenancies-in-common interest, or TICs, to retired and inexperienced investors. As a result of these allegations, the attorneys at Eccleston Law are actively seeking investors who have suffered losses in tenancies-in-common sold through Independent Financial Group.
Tenancies-in-common, or “TICs”, are a type of concurrent ownership of real property by two or more parties. Mostly, investments like TICs are reserved for accredited investors meeting a very specific income and investment experience criteria.
According to the FINRA arbitration claim, James Lamont allegedly explained to his investors that they would receive regular income payments and care-free professional management of the property. The property in which Lamont allegedly suggested his clients’ invest in was incredibly weary; the property consisted of two shopping malls that were eventually sold in foreclosure by mid-2011, shortly after Lamont allegedly suggested the investment.
Eccleston Law represents individual and institutional investors nationwide to recover their investment losses caused by securities fraud, unsuitable investment recommendations and breach of fiduciary duty, negligence or other misconduct. We have extensive experience representing investors in arbitration and litigation disputes with securities broker-dealers and investment advisory firms, and have recovered tens of millions of dollars for investors.
If you are an investor that has suffered substantial losses investing in tenancies-in-common through Independent Financial Group, your losses may be recoverable through securities arbitration. Please contact Jim Eccleston at the Eccleston Law Offices at 312-332-0000 to discuss your recovery options.
FinancialCounsel.com, hosted by James J. Eccleston, is a companion website to this blog, along with EcclestonLaw.com. It contains complementary material of general interest to investors and financial services professionals. Investors will find material on securities arbitration to recover investment losses; industry and financial markets intelligence; and strategies for estate planning. Professionals have access to material on broker/adviser registration, regulation, compliance and disciplinary proceedings; industry and financial markets intelligence; strategies for estate planning; and broker/adviser employment litigation and injunctions, including defamation and non-competition/solicitation issues. 
