Alternative Investment

There are Recent Customer Complaints with Broker William Kirke in Firm Berthel, Fisher & Company Financial Services, INC.

October 14, 2025 | by Staff Attorney

Previously financial advisor William Kirke (Kirke), previously employed by brokerage firm Berthel, Fisher & Company Financial Services, INC. has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a pending customer complaint on July 29, 2025.

The claimant alleges that the Firm and representative failed to make a suitable recommendation and over-concentrated claimant’s account in an oil & gas private placement and other unspecified investments in 2015. The claimant further allege that the Firm and representative misrepresented the investments and induced the claimant to retain the investment and cause them to suffer a loss.

The Rise and Sudden Fall of Inspired Healthcare Capital – Investor Recovery

October 13, 2025 | by Staff Attorney

The law offices of Gana Weinstein LLP are investigating consumer complaints concerning Inspired Healthcare Capital (IHC) – a private equity / alternative investment sponsor based in Arizona focused on senior housing, healthcare real estate, and senior living projects. Over recent years, IHC promoted a mix of private placements through Reg D offerings, real estate development vehicles, income funds, Delaware Statutory Trusts (DSTs) in the senior living space, income products tied to those assets. In July 2025, IHC abruptly suspended all new investment offerings and halted distributions to existing investors. The firm also shut down its internal operating arm, Volante Senior Living, and transferred many of its properties to third-party operators. These events came amid an ongoing SEC review. IHC disclosed in outreach letters to financial advisors that it was under regulatory scrutiny, and that it was working with an investment bank to evaluate “strategic alternatives.” The company’s disclosures did not specify the precise scope or nature of the SEC’s inquiry.

Industry reporting suggests that only 10 to 15 out of IHC’s 35 senior living properties were “performing well” at the time of the suspension, raising concerns about overextension, occupancy pressures, rising operating costs, labor challenges, and misallocation of capital. Red flags concerns in this case include: (i) overly aggressive marketing to retail investors, (ii) poor liquidity, (iii) overconcentration, (iv) lack of transparency, and (v) reliance on distribution payments that may have outpaced asset performance. Given these developments our firm encourages investors to reach out to explore their legal rights and potential recovery options.

Investors who have suffered losses are encouraged to contact us at (800) 810-4262 for consultation. At Gana Weinstein LLP, our attorneys are experienced representing investors who have suffered securities losses due to the mishandling of their accounts. Claims may be brought in securities arbitration before FINRA. Our consultations are free of charge and the firm is only compensated if you recover.

Below is a compilation of the funds, income vehicles, DSTs, and related offerings that have been publicly linked to IHC.

Primary & Income / Liquidity Funds

Investors in Jefferies’ Point Bonita Capital Deserve Answers After the First Brands Collapse

October 13, 2025 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims related to investor losses surrounding the First Brands Group bankruptcy. First Brands is an automotive-parts conglomerate behind brands like Raybestos, Trico, and Champion filters that filed for Chapter 11 in September 2025. The resulting losses have rippled through Wall Street’s private-credit ecosystem with the fallout has reaching investors including participants in Jefferies Financial Group’s Point Bonita Capital Fund, a fund marketed as a low-volatility trade-finance vehicle. For affected investors, this is more than a disappointing performance report. It raises urgent questions about how Jefferies managed risk, disclosed conflicts, and monitored the integrity of the assets it financed. Our firm is actively investigating these issues and evaluating potential claims.

Court filings show First Brands entered Chapter 11 in the Southern District of Texas listing liabilities exceeding $10 billion and, in some reports, as high as $11.6 billion. The company’s collapse followed months of liquidity stress tied to its supply-chain-finance programs — facilities through which lenders and funds advanced cash against customer receivables. Those programs were supposed to be straightforward: short-term, self-liquidating loans secured by invoices from reputable buyers. Instead, allegations in the news have emerged of duplicate pledging of receivables, overstated collateral, and missing documentation. At least a dozen institutional creditors have surfaced, with roughly $866 million in disputed trade-finance claims. The Justice Department has reportedly opened an inquiry into potential fraud or misrepresentation.

Among the largest creditors is Point Bonita Capital, managed by Leucadia Asset Management, the alternative-asset division of Jefferies Financial Group Inc. In public disclosures, Jefferies confirmed that Point Bonita held about $715 million in First Brands receivables — receivables that may now be severely impaired. Jefferies also acknowledged that several of its affiliated funds — including Apex Credit Partners CLOs — hold smaller amounts (around $48 million) of First Brands term loans. Although Jefferies emphasizes that its own balance-sheet stake in those receivables is roughly $43 million, the majority of the losses will fall on outside limited partners.

Broker Robert Sweet in Independent Financial Group, LLC Firm Has Customer Complaint

October 11, 2025 | by Staff Attorney

Currently financial advisor Robert Sweet (Sweet), currently employed by brokerage firm Independent Financial Group, LLC has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $100,000.00 on August 19, 2025.

Claimants allege representative is in violation of Reg BI due to investing in non-traded REITs.

There are Recent Customer Complaints with Broker David Heide in Firm RBC Capital Markets, LLC

October 10, 2025 | by Staff Attorney

Currently financial advisor David Heide (Heide), currently employed by brokerage firm RBC Capital Markets, LLC has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $5,000.00 on August 20, 2025.

The client alleged the advisor misrepresented the portfolio allocations being made to a hedge fund investment in November 2020.

There are Recent Customer Complaints with Broker Matthew Zagon in Firm Cova Capital Partners LLC

October 9, 2025 | by Staff Attorney

Currently financial advisor Matthew Zagon (Zagon), currently employed by brokerage firm Cova Capital Partners LLC has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $80,000.00 on August 25, 2025.

The client, [REDACTED], through his attorney, alleges that the RR, Matt Zagon, misrepresented the future performance of the Private Placement that [REDACTED] participated in, stating that Zagon told [REDACTED] the value of the investment in KI Health would increase from $ 0.12 to $ 5 by September.

Broker Sam Bhushan in Cabin Securities, INC. Firm Has Customer Complaint

October 5, 2025 | by Staff Attorney

Currently financial advisor Sam Bhushan (Bhushan), currently employed by brokerage firm Cabin Securities, INC. has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $150,000.00 on October 31, 2022.

Bhushan was the subject of the customer’s complaint regarding a reg D private placement. The complaint against his member asserted the following causes of action, fraud, misrepresentation, omissions of material facts, unsuitable recommendations, breach of contract, and breach of fiduciary duty.

Broker Jason Valavanis in J.w. Cole Financial, INC. Firm Has Customer Complaint

October 4, 2025 | by Staff Attorney

Currently financial advisor Jason Valavanis (Valavanis), currently employed by brokerage firm J.w. Cole Financial, INC. has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $35,000.00 on November 07, 2022.

Customer alleges that the non-traded REIT, purchased from the registered representative in November 2013 , is illiquid. Customer is seeking reimbursement for the position.

There are Recent Customer Complaints with Broker James Waters in Firm Lion Street Financial, LLC

October 3, 2025 | by Staff Attorney

Currently financial advisor James Waters (Waters), currently employed by brokerage firm Lion Street Financial, LLC has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $5,000.00 on November 09, 2022.

Client alleges Misrepresentations and Omissions, Breach of Fiduciary Duty, Unsuitable Investments, Breach of Securities Act of 1934, and Negligence. Client invested in the GPB Automotive portfolio in May of 2018 which was a private placement. Client was presented the portfolio because he qualified for the private placement due to his high net worth and the portfolio was consistent with his risk profile and long term investment objectives. It was ultimately discovered that certain individuals of GPB were committing fraud and in February 2021, The Securities and Exchange Commission (“SEC”) charged three individuals and their affiliated entities with running a Ponzi-like scheme that raised over $1.7 billion from securities issued by a New York-based asset management firm and registered investment adviser, GPB Capital. The SEC also charged GPB Capital with violating the whistleblower protection laws. In June of 2022 the SEC recommended GPB be placed in receivership to protect investor assets.

There are Recent Customer Complaints with Broker Christopher Hartman in Firm Kovack Securities INC.

September 22, 2025 | by Staff Attorney

Previously financial advisor Christopher Hartman (Hartman), previously employed by brokerage firm Kovack Securities INC. has been subject to at least 3 disclosable events. These events include 3 customer complaints. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a settled customer complaint on February 04, 2023.

Claimants allege that they were recommended unsuitable REITs.