Donna Louise Payne and April Lynne Waldman are Financial Advisors at Montecito Financial, which offers brokerage services through Centaurus Financial. Donna Payne has been registered with Centaurus as an investment advisor and broker since 2010. April Waldman has been registered with Centaurus as an investment advisor and broker since 2019, was previously registered with Moody Securities, LLC as a broker (2015-2019).
Peiffer Wolf is currently investigating claims against Donna Payne and April Waldman of Montecito Financial and Centaurus for their recommendations of alternative investments like Real Estate Investment Trusts (REITs). Currently, Peiffer Wolf represents Montecito Financial investors with Moody National REIT II and Benefit Street Partners investments.
Peiffer Wolf Carr Kane Conway & Wise represents investors who have lost significant amounts of money with Montecito Financial. Additionally, Peiffer Wolf is currently investigating additional claims for investors against Donna Payne and April Waldman of Montecito Financial and Centaurus Financial.
If you were a client of Donna Payne or April Waldman and your investment portfolio consists of REITs and other alternative investments, Contact Us Today.
To review Donna Payne’s Brokercheck* report, click here:
To review April Waldman’s Brokercheck report, click here:
*BrokerCheck is run by the Financial Industry Regulatory Authority, Inc. (FINRA)
Moody National REIT II is another stark reminder of how disastrous non-traded REITs can be for investors. According to the US Securities and Exchange Commission, “[b]ecause they do not trade on a stock exchange, non-traded REITs involve special risks”.
Non-traded REITs are illiquid investments, which means that “if you need to sell an asset to raise money quickly, you may not be able to do so with shares of a non-traded REIT.” Moreover, “it can be difficult to determine the value of a share of a non-traded REIT. Non-traded REITs typically do not provide an estimate of their value per share until 18 months after their offering closes. This may be years after you have made your investment. As a result, for a significant time period, you may be unable to assess the value of your non-traded REIT investment and its volatility.”
If you believe you were a victim of investment fraud or broker misconduct, it is imperative to take action. Peiffer Wolf has represented thousands of victims, and we remain committed to fighting on behalf of investors.
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