SLIG Victims

  Pedram Mehrian And His Two Companies Owe SEC $8.4M For $17.5M Fraud Strategic Legacy Investment Group Inc. and SLIG High Interest Liquid Savings Co., accused of participating in a fraudulent real estate investment scheme, have agreed to pay over $8.4 million to settle claims related to a $17.5 million scam that deceived more than 150 investors by marketing "collateralized" and "recession-proof" securities (promissory notes). In final judgments issued in California federal court, U.S. District  Judge Fernando M. Olguin ruled that both companies would pay the U.S. Securities and Exchange Commission (SEC) $6.5 million and nearly $1.9 million, respectively.   Strategic Legacy Investment Group Inc. must pay nearly $4.9 million in disgorgement, more than $487,000 in prejudgment interest, and a $1.15 million civil penalty. SLIG High Interest Liquid Savings Co. will pay nearly $648,000 in disgorgement, over $64,000 in prejudgment interest, and a $1.15 million civil penalt...

  Pedram Mehrian: What His Bail Conditions Mean for Investors?  In the Federal criminal case:  United States v. Pedram Abraham Mehrian where the defendant  faces five counts of wire fraud. The strict bail conditions imposed are not merely procedural but are specifically designed to protect investors from further financial harm.   Bail Conditions and SEC Ban In a striking move, the court has prohibited Mehrian from soliciting investments through any entities incluidng LLCs he owns or controls, and mandated compliance with a judgment from the SEC (case number 23-cv-8009-FMO), permanently barring him from participating in any securities transactions, including the sale of promissory notes. Additionally, he was ordered to pay personally approximately $1.2 million to SEC.  Source:  Mehrian FINRA BrokerCheck Report   Pages 7 - 9.   Mehrian is also restricted from selling or transferring any asset valued at $5,000 or more, preventing him from l...

  Tamarind South : Fully Occupied, Rents Collected, Yet Foreclosed? The Dream Tamarind South, a 32-unit multifamily building, was originally scheduled to be ready for leasing by October 2018. However, the project encountered substantial delays and was not completed three years later until August 2021. Investors, drawn in by promises of passive rental income and the prospect of multiplying their investments toward financial freedom, entrusted their hopes—and in some cases, their entire retirement savings—into this venture.  Despite the building becoming fully occupied and generating rental income investors not only failed to receive this monthly passive income they were promised but also lost their entire investment when the property went into foreclosure in January 2024.   Now, many are asking the same questions: How could a fully leased building in a prime location, consistently collecting rent for years, fall into foreclosure? Where did the rental income go? And why wer...

  Concern: SLIG Investors Left in the Dark Without K-1 Forms or Annual Reports. Did you receive your K-1 from SLIG?    Some SLIG investors are concerned that they never received the legally required K-1 forms for 2023, which are essential for tax filing, nor the annual reports that provide transparency into the financial status of their investments. The failure to provide K-1 forms places investors at risk of substantial financial and tax complications   Even if no distributions were made, investors are still entitled to a K-1 form, as it contains crucial financial information necessary for accurate tax reporting.   Furthermore, when an investment property is sold, or liquidated, syndicators are legally obligated to provide a final accounting of how proceeds are distributed, ensuring transparency.   The omission of annual reports  is particularly troubling in cases like the "Tamarind South" project. This fully occupied building, which was collecting mo...