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Written by 12:23 pm Blog, Securities Fraud Articles

DBSI Executives Indicted

Are you still trying to recover from financial losses as a result of investments made in DBSI products? If so, The White Law Group may be able to help you recover your losses.

According to a press release from the US Attorney’s Office of Idaho the CEO of DBSI, Inc., Douglas Swenson, and three top executives, including his two sons, were recently indicted on 83 counts “for conspiracy to commit securities fraud, wire fraud, mail fraud, and interstate transportation of stolen property.”

The press release states that “the defendants publicly represented that DBSI was a profitable company and had a net worth in excess of $105 million,” when in actuality “DBSI’s real estate and non-real estate business activities were universally unprofitable.”

DBSI is an Idaho-based real estate company that was founded in 1979. The company has been under investigation since 2008. DBSI investments were comprised mostly of risky tenant-in-common (TICs) and private placements offerings in commercial real estate.

“Master Lease” was one particular problematic DBSI product.  According to the press release, “Master Lease” “was loosing approximately $3 million dollars a month.” In addition, “the defendants are also charged with defrauding investors of approximately $89 million from a 2008 notes offering.”

The attorneys at The White Law Group continue to investigate potential FINRA arbitration against the brokerage firms that sold DBSI products. A list of brokerage firms that sold DBSI products is available here.

To determine whether you may be able to recover investment losses incurred as a result of your purchase of DBSI products, please contact the REIT fraud attorneys of The White Law Group at 312-238-9650.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.

For more information on The White Law Group, visit https://whitesecuritieslaw.com.

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