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Considering that the entities were operated in furtherance of a large-scale real estate fraud scheme, this prong is easily satisfied. 1999)). Looking for an investment?Visit the Investment District. I am new to using some of the methods available. I apologize for your negative experience and hope we were able to change your perspective on Equity Trust's service. Hes also the Founder of Retirement Education Group. Moreover, nothing in the receivership order limits the receiver's investigation to entities involved in the Sober lawsuit. I have been with EQuity for over ten years. 8.31, subd. He is also a co-founder of Directed IRA Trust Company. 80A.40-.90 (effective Aug. 1, 2007). you provide for any other purpose. For this reason, it is advisable to refrain from utilizing their services altogether.In hindsight, one could not help but wish that they had remained with Fundlabllc, where the process of withdrawals is made with ease and the customer service is unparalleled in quality. People who write reviews have ownership to edit or delete them at any time, and theyll be displayed as long as an account is active. Cf. The district court found that piercing was appropriate because the Thompsons were listed as owners and/or officers on certain documents and because there was substantial evidence that [the Thompsons] held themselves out as putative owners and/or officers in communications with clients and other employees [of the corporate entities].. On its first page, the amended petition stated: "Laura Grace Hampton . Did the district court err by denying the Thompsons' summary judgment motion? Specialty, 513 F.3d at 470). After the federal court dismissed Hampton's claims based on a forum-selection clause designating Ohio as the proper venue, Hampton sued Equity Trust in both Ohio and Texas Discover why clients from all 50 states have entrusted us to be the custodian of more than 237,000 accounts holding over $39 Lord have mercy $400 dollars for holding gold and silver for four months, man that is highway robbery. The footnotes state that, as a consequence, the other summary-judgment motions, as they apply to Hampton, may be mooted by the state court's ruling on the res judicata motion. SGIC Strategic Glob. Even the best investments come with the possibility of loss and a fair degree of risk. Horrible experience, Theyve been my crypto custody provider for about a year and I am unsatisfied with the customer service. The Thompsons do not dispute that many of the alter-ego factors are present. Again, we apologize for your negative experience. ." I. Equity Trust Company serves as a Custodian forSelf DirectedIRA's and 401(k)'s. Case Status: Pending Other Pending. What Can CitiesDo About the Most Dangerous Drivers? Does the investment sound like a conspiracy theory? Web+254-730-160000 +254-719-086000. Need to find a different location? 
Hampton also argues that, even if the federal court properly exercised jurisdiction under the Anti-Injunction Act, Equity Trust waived the application of the forum-selection clause by substantial litigation on the merits for over two years in Texas state court. This lawsuit was filed in the Livingston County Courts, Washington Supreme Court, New York. LAURA HAMPTON, Plaintiff - Appellant, v. EQUITY TRUST COMPANY, Defendant - Appellee. Our size, expertise, and technology help us ensure were there when you need us most. Casetext, Inc. and Casetext are not a law firm and do not provide legal advice. In August 2006, approximately 178 investors collectively brought eight lawsuits1 against the principals and a myriad of corporate entities involved in the scheme, including IPM, National Real Estate Assignments, LLC d/b/a America National Assignments (NREA), Investment Properties of America, Inc. (IPA), Amerifunding Group, LLC, and J & J Investment Properties of Minnesota, LLC (J & J). Learn more about FindLaws newsletters, including our terms of use and privacy policy. 28 U.S.C. Our experience and track record of excellence are unmatched in the industry. This appeal arises out of eight consolidated lawsuits involving a large-scale real estate investment fraud scheme allegedly orchestrated by appellants Geoff and Nancy Thompson and their business partners, James Abbott and Joseph Cole (collectively referred to as the principals). The company manages a total of $20.7 billion in invested assets. Named as a defendant in the lawsuit was IRA custodian New Direction IRA. Rather, Equity Trust simply contended that summary judgment should be granted in favor of Equity Trust and against Hampton. . All rights reserved. Even if phone numbers are provided, I haven't been able to connect to get input as to what is going on with funding my transactions. Did you have any trouble cashing out or any delays in getting your money if you want out of the investment? dispute through litigation . They refused to transfer my assets in-kind when they have done this for numerous other customers yet I am continuously given the runaround. EQUITY TRUST COMPANY CUSTODIAN FBO Heather EISENMENGER IRA, et al., Respondents, v. Joseph A. COLE, Defendant, Jim W. Abbott, Defendant, Geoff and Nancy Thompson, Appellants, Progressive Home Services, Inc., d/b/a Investment Properties of Minnesota, et al., Defendants, and etc. Identify your wealth-building goals and discover your personalized strategy by answering a few quick questions. The first approach is a traditional inquiry that asks whether a party "intentionally or voluntarily relinquished its rights under the clause." (quoting Nicholas, 565 F.3d at 910). The evidence also supports the district court's finding that the principals were the alter egos of the entities. The Thompsons raise several issues with respect to the district court's administration of the receivership. A remedy is whatever the party to a lawsuit is asking for. . The next month, Hampton and the other accountholders from the federal case sued Equity Trust, the Langguths, and another entity in Ohio state court, alleging violations of the Texas Securities Act, as well as several mostly fraud-related common law claims. See Minn. R. Civ.App. I have been a customer of American Equity since January of 2009. Stay up-to-date with how the law affects your life. Cause of Action: Section 1 of the Sherman Act. Bloomberg Markets Americas. 2004) (quoting Peaches Entm't Corp. v. Entm't Repertoire Assocs., Inc., 62 F.3d 690, 693 (5th Cir. "Waiver can also occur if a party engages in 'conduct so inconsistent with the intent to enforce the right as to induce a reasonable belief that it has been relinquished.'" Sep 14, 2022. Anyone can write a Trustpilot review. VI, 10. Its now easier than ever to find the most in-demand investment opportunities for your self-directed account. Notice to Clients Regarding the Closing of Silvergate Bank, Silicon Valley Bank, and Signature Bank. See Mirant, 613 F.3d at 589 (quoting Subway Equip., 169 F.3d at 329). As such, the only claims that remain pending in this case against Equity Trust are those asserted by Laura Hampton. MUEHLBERG, Judge. Moreover, wire-transfer receipts and financial statements obtained by the investors demonstrate that money was transferred between entities and withdrawn from them in large sums by the Thompsons. Equity Trust moved to dismiss the claims of the account-holding plaintiffs for improper venue under Federal Rule of Civil Procedure 12(b)(3) based on the forum-selection clause in the agreements that the accountholders had executed with Equity Trust. Group, L.L.C., 736 N.W.2d 313, 318 (Minn.2007) (quotation omitted). WebI highly recommend Equity Trust Company! 3c (2006). App.El Paso 1996, no writ) ("Appellant had the burden to obtain a timely hearing to present her special exceptions to the trial court and obtain a ruling."). If you suspect an investment to be fraudulent or have any concerns about your investment, report any wrongdoing or scams to theseorganizations. The labyrinthine nature of their bureaucracy renders the process of resolving issues unnecessarily complicated. Following a bench trial, the federal court granted Equity Trust's request for a permanent injunction, barring Hampton from pursuing any claims in conflict with the 2013 order against Equity Trust in any Texas state court. Open and fund your new account, then start investing in the almost-endless possibilities. you provide for any other purpose. and you agree to submit to such jurisdiction . Accordingly, we VACATE the federal court's permanent injunction enjoining the Texas state-court proceedings. P. 103.03 (stating that the denial of summary judgment is generally not a final judgment from which an appeal may be taken). Relief: Treble damages, an injunction, costs, fees, 1291; Duffy & McGovern Accommodation Servs. A multistate group of anesthesiologists filed cases in Texas and Colorado, accusing the insurance giant of squeezing them like a boa constrictor.. Its as simple as 1-2-3. Companies can ask for reviews via automatic invitations. Two basic types of investment opportunities were offered to prospective members over the course of the scheme. (Other case captions as listed in the Consolidation). Thank you for taking the time to provide feedback about your experience with Equity Trust. Based in Westlake, Ohio, Equity Institutional services institutional clients of Equity Trust Company which serves as a Custodian for Self Directed IRAs and 401 (k)s. WebEquity Trust Company Business Profile Equity Trust Company Trust Company Multi Location Business Find locations Contact Information 1 Equity Way Westlake, OH 44145 In an SEC filing published Monday, AMC says that it will issue 6.9 million shares, or 4.4% of the companys stock, to the plaintiff shareholders in exchange for the lawsuit being dropped. Equity Trust argued that it met the requirements for succeeding on the merits under the Anti-Injunction Act's relitigation exception and that the federal court had authority to issue an injunction. Equity Trust Company Custodian v. Windwrap, LLC, No. In Mirant, we determined that "listing the right to compel arbitration as an affirmative defense in [appellant's] answer and reserving that right in its motions to dismiss" was insufficient to show a timely assertion of a right to arbitrate where appellant also delayed in asserting that right. . The email address cannot be subscribed. Equity Trust was on notice as of July 2013 that Hampton was pursuing claims in her individual capacity in Texas state court. 80A.01-.31 (2006),2 Minn.Stat. Schedule a one-on-one session with an expert alternative investment counselor. Cole claimed that he and Abbott were partners in several real estate investment companies, including IPM and J & J, but they had limited business experience and became overwhelmed as the companies began to grow. To provide feedback about your experience with Equity for over ten years injunction, costs fees! With how the law affects your life loss and a fair degree of risk approach a. As listed in the almost-endless possibilities fraudulent or have any concerns about your investment, report any wrongdoing or to... Such, the only claims that remain pending in this case against Equity Trust against. Investment to be fraudulent or have any trouble cashing out or any delays in getting your money if you an! 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