California Securities Fraud Attorney Call Today 800-699-1881
California Securities Fraud Lawyer Firm Overview Attorney Profiles Recoveries Obtained Frequently Asked Questions Testimonials Contact Us
information center
Attorney Advertising Disclaimer
Securities
Broker Misrepresentation
Brokerage Firms Sued
FINRA
Structured Products
Hedge Fund Losses
Recognizing Investment Losses
Recovery of Investment Loss
Securities Arbitration
Reverse Convertible
Misconduct
Securities Fraud
Securities Mediation
Securities Litigation
Stock/ Investment Losses
Suitability/ Unsuitability
Unauthorized Trading
Common Claims
Products
Frequently Asked Questions
Attorney Referrals
Video Center
securities fraud blog
legal blog Click here for a free case evaluation. Read our Articles on Securities Related Issues here. have a question resources
contact us
Name:
Email:
Phone:
Are you a new client?
Message:
10 Avvo avvo badge
If you need help recovering your losses contact us today. View our complete list of brokerage firms and banks we've sued.

Daniel Miller Fined, Suspended for Undisclosed Outside Real Estate, Private Securities Transactions

FINRA suspended and fined Daniel Steuer Miller, formerly of Growth Capital Services in San Francisco, California, for participating in undisclosed and prohibited private securities transactions totaling about $560,000 in an outside investment, namely several real estate ventures through his non-Growth employment with Rise Securities LLC, Westmill Capital Partners (since shutdown), Fundrise, and Popularise LLC.

FINRA AWC #2015044394701

According to the findings, one of Miller's outside companies engaged in crowdfunding of real estate projects in 2014 by conducting a private offering of preferred shares, and that Miller participated without informing or getting authorization from FINRA-member Growth Capital. The findings state that as secretary/treasurer, and later President, Miller solicited investments from several clients, who collectively invested $560,000 in the offering.

The AWC notes that in participating in such private securities transactions without providing prior written notice to Growth Capital, Miller violated both firm and industry policies and rules by engaging in a prohibited outside business activity.

In 2013, Curbed ran a feature on Miller, touting his FINRA licenses and offering a glimpse into Fundrise's business model. For instance, the article states that because Securities Act/SEC Regulation D restricts/protects unaccredited investors from public investment in certain markets, Miller's company used Regulation A to raise its capital, calling it, "the new way to invest in real estate." However, whether by Regulation A or D, industry rules require all brokers and financial advisers to inform their associated firm of such activity which is effected outside of the scope of employment or association with said firm. That a prospective investor is "accredited" to invest does not lessen the brokerage firm's and broker's suitability obligations.

If you have invested with Daniel Steuer Miller at Growth Capital, or with any broker or financial adviser who has solicited or executed unauthorized outside business activities or transactions outside of the scope of his/her employment with a FINRA-member firm, and this improper act of selling away has proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

accolades
The Law Offices of Jonathan W. Evans & Associates - California Securities Fraud Attorney
Located at 12711 Ventura Boulevard, Suite #440 Studio City, CA 91604. View Map
Phone: (800) 699-1881 | Local Phone: (818) 760-9880.
Website: