Tr?id=566623520170033&ev=PageView&noscript=1

SEC Orders Legendary Capital Founder and REIT Advisors to Pay Nearly $5 Million

Posted on September 20th, 2023 at 8:49 AM
SEC Orders Legendary Capital Founder and REIT Advisors to Pay Nearly $5 Million

From the desk of Jim Eccleston at Eccleston Law 

Corey Maple, co-founder of non-traded REIT sponsor Legendary Capital, has agreed to a $100,000 civil penalty to settle charges brought by the Securities and Exchange Commission (SEC).

The charges stem from inappropriate expense reimbursements made to external advisors of Lodging Opportunity Real Estate Investment Trust and Lodging Fund REIT III Inc. As reported by DI Wire.com, the SEC found that those improper reimbursements, directed to Legacy Hospitality II LLC and Legendary Capital REIT III LLC, amounted to approximately $5 million.

 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law, sec

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

I want to extend a tremendous thank you for your dedication, professionalism, hard work and patient demeanor through this challenging time. It was enjoyable interacting with everyone on your team, this certainly helped while dealing with the situation and working towards resolution.

Dan M.

LATEST NEWS AND ARTICLES

1773851287 Law
March 18, 2026
LPL and Ameriprise Notify Clients of Cybersecurity Incidents Involving Account Access

LPL Financial and Ameriprise Financial Services recently notified certain clients about separate cybersecurity incidents that exposed private information and, in one case, led to unauthorized trading activity.

1773760408 Law
March 17, 2026
Bankruptcy Court Orders Emerson Equity to Produce Records in Inspired Healthcare Case

A federal bankruptcy court in Fort Worth has ordered Emerson Equity to produce documents connected to the sale of private securities issued by Inspired Healthcare Capital, according to InvestmentNews.

1773678753 Law
March 16, 2026
Concorde Investment Services Faces Scrutiny Over Sales of Inspired Healthcare Private Investments

Concorde Investment Services is facing increased scrutiny following the bankruptcy of Inspired Healthcare Capital, whose private investment offerings were widely sold through independent broker dealers, according to InvestmentNews.