You are currently viewing Schwartz Law Continues to Investigate iCap Equity, LLC Investment Losses

Schwartz Law Continues to Investigate iCap Equity, LLC Investment Losses

Investors who have suffered financial losses with investments in iCap Equity, LLC, iCap Enterprises, Inc., or any of its affiliate companies, should seek legal assistance to evaluate if they can recover their losses.

iCap Equity, a real estate investment firm based in Bellevue, Washington, recently filed for Chapter 11 bankruptcy protection due, in part, to its failure to repay investors. iCap Equity oversees the iCap Northwest Opportunity Fund, a Regulation D private placement company. This Washington state based real estate investment firm focused on equity investments in real estate development opportunities. iCap’s business was to offer both capital and lending support to small to medium-sized builders and developers in the Pacific Northwest.

iCap Northwest Opportunity Fund raised capital for the fund by filing a Form D in 2015, aiming for an offering amount of $50 million, of which an estimated 10% was designated for commissions to be paid to financial advisors. The fund’s suspension of interest payments is being attributed by iCap Equity to significant challenges in the real estate capital markets (i.e., higher interest rates and inflation).

iCap Equity’s CEO, Chris Christensen, made the decision to step down from his position in March of 2023. This happened at the same time when the company stopped making interest payments to investors. Lance Miller is now running the company in his role as Chief Restructuring Officer (“CRO”). The resignation of Christensen added to the uncertainty surrounding iCap Equity, as investors were left to wonder about the future of their investments. The suspension of monthly interest payments added to investor’s concerns as it suggested financial troubles for the company. The halt in interest payments was one of the warning signs that eventually led to iCap’s bankruptcy filing.

Unfortunately, this situation has resulted in significant financial losses for investors who trusted the firm with their money. iCap raised money from many investors through independent broker-dealers throughout the country. If you invested in iCap through an independent broker-dealers, you might have recourse against that firm.

According to the Securities and Exchange Commission, several independent broker-dealers sold iCap investments to their clients. These firms include:

  • Center Street Securities, Inc.
  • Bradley Wealth Management, LLC
  • Ausdal Financial Partners, Inc.
  • Advisory Group Equity Services, Ltd.
  • Green Vista Capital, LLC

If you have suffered losses from investments in iCap Equity, LLC, you can contact the Schwartz Law Firm, P.A. to consult with one of our attorneys to see if you have a viable claim. The Schwartz Law Firm represents investors in claims against financial advisors and their firms. If you have

questions about your potential claim or need assistance from an investment fraud lawyer, please contact us at 866-618-0545 or email Matthew Schwartz directly at [email protected]

Matthew Schwartz

Matthew Schwartz is a Shareholder at Schwartz, P.A. where he serves as the practice group leader for their securities litigation and professional negligence practice group. His practice is focused on plaintiff-side securities arbitration and litigation, representing individual investors and institutions in claims against brokerage firms, investment advisors, commodities firms, hedge funds and others. He also represents plaintiffs who have been damaged by their insurance agents, lawyers, accountants and other professionals. He is an accomplished commercial litigator who has handled a variety of business disputes and other consumer claims.

Leave a Reply