Blum Law Group has commenced an investigation into the activities of Liberty Trading Group, based in Tampa Florida. James Cordier is their President. On Monday, July 9, 2012, the NFA announced banking irregularities at Liberty Trading Group’s clearing firm, PFG (Peregrine Financial Group Inc). What this means is that clients can only close out any of their positions. There is a hold placed on all incoming and outgoing wires and checks, as per the NFA. Investors who sustained losses in Liberty Trading Group or PFG investment accounts should contact Blum Law Group at 1-877-Stock Law (786-2552) for a free case evaluation.
The Law Offices of Blum Law Group is currently investigating the LaeRoc Funds, including the Laeroc 2002 Income Fund LP, Laeroc 2004-2005 Income Fund LP, Laeroc 2005-2006 Income Fund LP, Laeroc Edge Fund LP and Laeroc Income Fund 007, LP.
The Laeroc funds are real estate private placements (under Regulation D) that were sold by brokerage firms like LPL Financial LLC and Commonwealth Financial Network. According to its website, Laeroc Funds is a real estate investment firm managing over $650 million in assets in the last 23 years and has created 14 funds. The Company focuses on income producing properties in the western US with a concentration in southern California.
Many of the Laeroc funds have suffered substantial declines in value. Laeroc 2002 Income Fund, L.P. recently announced the dissolution of the fund to its investors. While the Laeroc 2005-2006 Income Fund LP is currently attempting to raise another $11 million to $14.5 million to pay off at least $49 million of debt. This fund recently issued a cash call to investors, asking investors to contribute additional money for preferred partnership status.