Meyer Wilson is investigating claims that Howard Hsieh, an investment adviser and broker registered with Cetera Investment Services in Irvine, California, concentrated investor funds into incredibly speculative non-traded real estate investment trusts (REITs), including Hospitality Investors Trust.
On May 19, 2021, Hospitality Investors Trust filed for Chapter 11 bankruptcy to restructure its $1.3 billion unsecured debt. Because REITs do not trade on a public exchange, they involve special risks and are typically not suitable for the average retail investor.
Howard Hsieh has been with Cetera since 2013. His public records show that he is the subject of one pending customer dispute relating to real estate securities and one previous dispute from 2020 alleging that he made misrepresentations regarding the sale of REITs.
Investment advisers like Mr. Hsieh are fiduciaries to their clients and must act only in their clients’ best interests. If you suffered losses as a result of Mr. Hsieh’s account management, including his recommendation of any investments into Hospitality Investors Trust or other non-traded REITs, we are interested in hearing from you.