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Report: #1176421

Complaint Review: Syndicated Equities / Richard Kaplan - Chicago Illinois

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  • Reported By: SpurnedAndBurned —
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  • Syndicated Equities / Richard Kaplan 350 N. LaSalle Street, Suite 800 Chicago, Illinois USA

Syndicated Equities / Richard Kaplan Caveat Emptor - Investors Beware -Or - Be Wary! Chicago Illinois

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Proceed with Caution!  

If you are an accredited real estate investor considering investing with Syndicated Equities, please do your research! Caveat emptor definitely applies when it comes to any Syndicated Equities offering.

If someone had warned us years ago about Richard Kaplan and Syndicated Equities we would not be facing financial ruin today.

Before you decide to give Richard Kaplan of Syndicated Equities a penny of your hard earned money, outlined below is a summary of our experience:

We are accredited real estate investors who invested with Richard Kaplan of Syndicated Equities several years ago and are now completely wiped out in all of our current investments.

Mr. Kaplan's offerings did not only not provide the returns on our investment that he promised, but in one of the properties we invested with him called Severance Center in Cleveland Heights, Ohio, he not only lost all of our money, (which was a substantial sum) but he lost the bank’s too.

Severance Center is now in foreclosure and has lost 75% of its value. In April, 2014 Syndicated Equities defaulted on a note of $40 million.  By current estimates this property is now worth between $16 -$25 million.  In August, 2014 it was publicly announced that Severance Town Center was hit with a foreclosure lawsuit.

In addition to the Severance Center lawsuit, Richard Kaplan and Syndicated Equities have wiped out the fortunes of other investors too, such as in his other failed real estate dealings which include an office center in Northbrook, IL, a Parking Garage in Chicago, IL to name a few. 

It is too late for us to recoup our investment, but hopefully it won’t be too late for you to reconsider investing with another firm who and individual that won’t just promise you high returns and responsive service and then fail miserably to deliver on either 

Good luck!

This report was posted on Ripoff Report on 09/12/2014 02:09 PM and is a permanent record located here: https://www.ripoffreport.com/reports/syndicated-equities-richard-kaplan/chicago-illinois-60654/syndicated-equities-richard-kaplan-caveat-emptor-investors-beware-or-be-wary-chic-1176421. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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