A real estate investment firm CEO agreed to pay nearly $7.1 million after he allegedly contributed hotels he didn’t own to close a business deal and misappropriated investor funds, the SEC told a federal court in New York.
Suneet Singal and his firm, First Capital Real Estate Investments LLC, are jointly responsible for handing over almost $3.9 million in disgorgement and interest as part of the Securities and Exchange Commission settlement, according to documents filed Tuesday in the U.S. District Court for the Southern District of New York.
Singal “purported to contribute 12 hotels that he did not own to ...
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