In June 2014, the Massachusetts Securities Division filed an Administrative Complaint against Cabot Investment Properties, LLC, Carlton Penavera Cabot and Timothy John Kroll charging them with fraud in the offer and sale of securities to Massachusetts residents from August 2003 to the present.
According to the complaint, Cabot and Kroll owned Cabot Investment Properties (CIP) and offered income producing securities known as tenants-in-common (TIC) investments. The regulators charge Cabot, Cabot and Kroll with fraud involving mostly elderly and retired individuals in connection with the marketing and sale of the TIC investments.
The proceedings suggest that Cabot, et al were able to accomplish their scheme in part by fabricating an air of prominence by associating themselves with the established names of the New England Cabot family as well as the bona fide real estate firm known as Cabot Properties, giving the pretense of prestige, fortune and professionalism.
The complaint lists the following Cabot TIC investment sold to at least one Massachusetts investor:
- Addison Corporate Center
- Oak Grove Plaza
- Turfway Ridge
- East Town Center
- Creekside Mall
- Ashtabula Mall
The Massachusetts Securities Division seeks a cease and desist , a permanent bar from conducting securities business in Massachusetts and rescission offers to Massachusetts residents as well as a fine.
If you do not reside in Massachusetts adn purchased any of the Cabot TIC investments, contact us to find out how you may be able to recover damages for your losses.
Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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