Banks Law Office is representing four investors who were advised by their financial advisors at SII Investments and Eagle Financial to take out second mortgages on their homes to purchase a high risk private investment called Santa Barbara Villa Rose.
The investment predictably ran into trouble, and now our clients, who are all retired, are left not only with a significant investment losses but also are saddled with mortgage loans that they cannot afford to pay. The State of Oregon has been investigating this case for about a year, and we recently got involved for our clients. We will be filing a FINRA arbitration seeking to recover investment losses and interest payments made on the mortgage loans. The respondents in our case will be SII Investments and Richard Thomas.
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