Embattled real estate brokerage Meridian Capital Group LLC is keeping investors in the dark about the planned “fire sale” of an affiliate that’s meant to bail out Meridian after a “castrophic” fraud scandal, according to a lawsuit.
Two fired brokers are suing the company for information about their investments in NewPoint Real Estate Capital LLC, allegedly the subject of “a rushed sale intended to secure funds desperately needed to keep Meridian afloat.” Although NewPoint has been tarnished by its association with Meridian, it still has value thanks to its status as one of the few companies licensed to originate ...
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