Bellevue, Washington-based iCap Enterprises, Inc. filed for bankruptcy in September, calling into question the fate of $245 million raised from investors who purchased iCap positions through brokerage firms. iCap real estate vehicles were high-risk private placements and after iCap filed for bankruptcy, investors in the ill-fated position now stand to suffer significant investment losses, in addition to commissions and other sales charges already paid.
Somerset Securities of Oregon is one such broker-dealer implicated for its unsuitable sales of iCap, and faces several investor claims over its private placement sales. At issue is Somerset brokers' recommendations for risk-averse investors to purchase and then renew positions in iCap, which was a high-risk private placement.
According to FINRA's BrokerCheck database, iCap Enterprises owner Chris Christensen also controls a FINRA-registered broker-dealer named Airlink Markets LLC, which was established in 2022.
If you invested with Airlink Markets or through another FINRA-registered brokerage firm in iCap Enterprises or a related iCap fund, and are experiencing losses as a result of the unsuitable recommendations to purchase a highly risky private placement that has now resulted in bankruptcy, please call an experienced FINRA arbitration attorney at The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.