BIC Real Estate Development Corporation, Daniel R. Nase and d/b/a Bakersfield Investment Club, Charged by the SEC – Goodman & Nekvasil P.A. May Recover Investor Losses
Securities and Exchange Commission Charges BIC Real Estate Development Corporation, Daniel R. Nase and d/b/a Bakersfield Investment Club
The Securities and Exchange Commission announced fraud charges against a California businessman accused of stealing investor assets and then trying to cover it up once the SEC caught onto his scheme.
The SEC alleges that Daniel R. Nase raised money from investors through an unregistered offering of common stock in his Bakersfield, California-based company, BIC Real Estate Development Corp., and used the funds for personal expenses. According to the SEC’s complaint filed in U.S. District Court for the Eastern District of California:
- Nase told investors that BIC would invest in real estate and promissory notes. With money he used to purchase real estate and notes, Nase improperly titled most of the properties in his name or his wife’s name or their family trust, not BIC.
- Nase used some investor funds to pay for clothing, vacations, student loans, and other personal expenses.
- Nase tried to cover up his theft after learning of the SEC’s investigation by investing stolen assets back into the company to make it appear he was increasing his equity stake in it.
BIC Real Estate Development Corporation Investors May Recover their Losses with Goodman & Nekvasil, P.A.
If you invested in BIC Real Estate Development Corporation, Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, has recovered more than $180 million dollars on behalf of victimized investors.
All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years.
There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
If you incurred investment losses in BIC Real Estate Development Corporation and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.