Maxwell Drever – SEC Charges Real Estate Developer with Misleading Investors | Recover Losses

Maxwell Drever – SEC Charges Real Estate Developer with Misleading Investors | Goodman & Nekvasil P.A. May Recover Investor Losses

According to the SEC:

The Securities and Exchange Commission today charged Maxwell Drever, a real estate developer based in the San Francisco Bay Area, with misleading investors in a multi-million dollar real estate fund that he managed.

According to the SEC’s order, Drever raised approximately $53 million from investors for the stated purpose of purchasing and redeveloping a commercial building in Dallas, Texas. The order finds that Drever failed to disclose his receipt of $10.2 million in fees charged to investors in connection with the purchase and redevelopment of the building. The order also finds that while Drever invested $9 million of the undisclosed fees he received into the project, he used that money to take an equity stake in the project for himself, and falsely told certain investors that his investment came from his own funds.

The SEC’s order finds that Drever violated Sections 17(a)(2) and 17(a)(3) of the Securities Act of 1933. Without admitting or denying the SEC’s findings, Drever consented to a cease-and-desist order; to pay disgorgement of $1,214,246 plus prejudgment interest of $282,979 and a civil penalty in the amount of $75,000; and to publish a copy of the SEC’s order on the website of his wholly owned entity, Drever Capital Management LLC. In addition, Drever has undertaken to cancel the equity stake in the project that he received in exchange for his investment of $9 million in undisclosed fees.

Investors with Maxwell Drever May Recover their Losses with Goodman & Nekvasil, P.A.

If you invested with Maxwell Drever, 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 $200 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 with Maxwell Drever  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.


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