5 Mass. IBDs to pay $10.75M to non-traded REIT buyers

09/10/2013 | InvestmentNews (free registration)

Massachusetts Secretary of Commonwealth William Galvin said five independent broker-dealers reached an agreement to pay $10.75 in restitution to clients who made investments in non-traded real estate investment trusts through them from 2005 to this year. The payments are in addition to $6.1 million in fines and restitution the broker-dealers agreed to pay in May.

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