Law360 (July 14, 2021, 7:05 PM EDT) — The chief executive of a
real estate investment trust and a company under his control must pay the U.S. Securities and Exchange Commission more than $7 million to end the regulator’s claims that they misled
investors with a pair of elaborate scams, a Manhattan federal judge said Tuesday.
In final judgments, U.S. District Judge Mary Kay Vyskocil ordered Suneet Singal, the CEO of First Capital Real Estate Trust Inc., and one of Singal’s companies, First Capital Real Estate Investments LLC, to pay the multimillion dollar sum, which comprises $3.2 million in disgorgement and over $676,000 in prejudgment interest. Singal is also…
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