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Justin Robert King was offering interests in his company, Elevate Investment Fund, when there was no such legal entity, leading to nearly $4 million in investor losses, according to SEC allegations.
The former Merrill Lynch team, led by advisor Lars Olson, wanted to stay in Marion, Ohio, to be part of the town’s revitalization, so they decided to go independent with Sanctuary Wealth.
Signature Bank, the New York lender that’s long catered to the Trump family, also is closing two personal accounts in which the president held about $5.3 million.
According to the commission, the duo claimed a "spiritual revelation" had yielded an algorithm for a high-yielding trading platform, but they were just two con men who met in prison.
Sam Isaacson, president of Walker & Dunlop Investment Partners, talks about the opportunities the firms sees in CRE assets worth less than $100 million.
