- Capstone served as principal underwriter and distributor of share of the Capstone Church Capital Fund
- The Fund’s holdings were 87% church mortgage bonds and 13% church mortgage loans.
- From 2009-2012, the Fund’s net assets declined significantly as a result in the decrease i value of the assets adn the large number of repurchases requested by investors.
- The Fund stopped accepting sales in January 2013
- Capstone distributed communications that failed to account for the declining performance of the Fund
- The Fund’s website compared church bonds and loans to corporate bonds without disclosing the material difference between the investments.
- The Fund’s net assets were over $57 million in September 2009 and declined to less than $33 million by September 2012.
- In 2010 the Fund experienced difficulty obtaining cash to satisfy quarterly repurchase requests.
- East Memorial Baptist Church
- First Southern Baptist Church of Lake Havasu
- First Baptist Church of Clovis
- Revival Pentecostal Tabernacle of San Diego
- Sonrise Baptist Church of Clovis
- Lifepoint Community Church of Tampa Bay
- Victory Baptist Church of Loganville
- First Baptist Church of Melrose Park
- Living Way Apostolic Church
- The Cathedral of Life Christian Assembly
Rex Securities Law , located in Boca Raton, FL, provides representation to investors nationwide who are 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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