1st Global Capital Bankruptcy Affects Investors in Knoxville, TN

Do you live in Knoxville, Tennessee?  Have you invested or lost money with 1st Global Capital? 

1st Global Capital has recently filed for Chapter 11 Bankruptcy after investigations alleging sales of unregistered securities, sales of securities by unregistered brokers, and other acts of fraud in connection with the sales of securities.  Several state attorney generals are also investigating the solicitation of multiple individuals into investing in MCA deals. 

The alleged loan fraud totals $283 million. 

News of these investigations hinders 1st Global Capital’s ability to raise cash, so the company filed for bankruptcy on July 30th, 2018.  As explained in the filings, the company filed “in order to address a sudden and acute liquidity crisis and to preserve their assets and business operations for the benefit of the individual lenders and all other constituencies.” 

No charges have yet been filed against 1st Global Capital, any of its employees or officers, or the related company 1 West Capital LLC.  Under Chapter 11, the company can continue to operate with new management. 

The companies have also brought in outside management to assist with the bankruptcy and the investigations, which are ongoing. 

Are You A 1St Global Capital Investor? 

If you’ve invested with 1st Global Capital and are concerned about the company’s recent bankruptcy filing, call Scott Silver to find out what your options are.  Silver Law Group represents investors in securities and investment fraud cases.  Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct.  Most cases handled on a contingent fee basis.  This means that you won’t any pay legal fees unless we are successful.  Call us toll free at 800-975-4345, or use our online contact form to get in touch.