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

You are the best attorneys in the country.

CC

LATEST NEWS AND ARTICLES

1775574785 Law
April 7, 2026
SEC Charges Long Island RIA and Executives in $138 Million Private Fund Scheme

A Long Island-based registered investment adviser and two of its senior executives now face parallel civil and criminal proceedings tied to an alleged scheme involving conflicted private fund investments, as reported by InvestmentNews.

1775496481 Law
April 6, 2026
FINRA Arbitration Panel Orders Fidelity to Pay $1.3 Million Over Structured Product Disputes

A Financial Industry Regulatory (FINRA) arbitration panel has ordered Fidelity Brokerage Services to pay approximately $1.3 million to two groups of clients who alleged misconduct tied to structured product investments, according to ThinkAdvisor.

1775253477 Law
April 3, 2026
FINRA Enforcement Trends Show Higher Monetary Sanctions Despite Fewer Cases in 2025

The Financial Industry Regulatory Authority (FINRA) increased total monetary sanctions in 2025, even as the number of enforcement actions declined.