What is the Ashcroft Capital lawsuit about?

[accountinglads]

The ashcroft capital lawsuit sets out the claims made by 12 accredited investors over almost $18 million in damages. They claim that Ashcroft Capital overstated targeted internal rates of returns (IRRs) by 4-6 percent, never disclosed material risk as delays in renovations and variable-rate loans, or managed investor capital. Another claim by investors is that their communication with limited partners was delayed or obscure and they were not supposed to deal with pressing financial issues. To a certain extent, this case raises the question of the transparency, fiduciary responsibility, and the dangers of being an investor in a privately offered real estate syndication.

[Auteur]

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