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Written by 7:09 pm Blog, Securities Fraud Articles

Investigation into Yucatan Investments Corp

The White Law Group continues to investigate potential claims involving Yucatan Investments Corp and Resort Holdings International.

Beginning in 1998, Michael E. Kelly allegedly defrauded purchasers through two types of investments, a nine-month promissory note and a so called “universal lease.” Yucatan Investments and Resort Holding International Inc both purportedly offered either the promissory note or universal note.

Through a network of salesman and companies approximately $500 million was fraudulently obtained from the sale of the promissory notes and universal leases. Many of the investments wire sold to retirees who were promised a high fixed rate of returns, as high as 10.75% in some cases.

The White Law Group is investigating potential claims involving associates of Kelly who sold these investments to unsuspecting investors. Before recommending an investment, a broker-dealer has a fiduciary duty to perform adequate due diligence to determine if the investment has a reasonable likelihood of success and if it is suitable for their client. When brokers make inappropriate investment recommendations, both the broker and the firm may be liable for investment losses.

If you suffered losses in Yucatan Investments Corp and Resort Holding International Inc and would like to speak to a securities attorney to discuss your litigation options, please call the securities attorneys of The White Law Group at (312)238.9650 for a free consultation.

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 Franklin, Tennessee.

For more information on the firm, visit www.WhiteSecuritiesLaw.com.

Last modified: December 2, 2022