Name and Shame
Name and Shame

DIKE BOONE NERREN REVIEW

Complaint
#5YDQ2

This complaint was posted on NAS on 6th Jan, 2021 and is a permanent record located here: https://www.nameandshame.com/dike-boone-nerren-5YCW8/criminal-real-estate-developer-id5ydq2 .

NameandShame Author
The Smart Investor Feed
6th Jan, 2021

A Criminal Real Estate Developer

Today, The Smart Investor Feed brings you another morally reprehensible fraud.


Dike Boone Nerren has been seized/arrested by the U.S. Securities And Exchange Commission (SEC). Shocking right?


We weren’t expecting this as well, but these scammers are getting smarter by the minute, making it harder for us to identify.


Such swindlers seem to be booming in numbers lately. This case is kind of interesting, why don’t I show you why:

Full Report On Dike Boone Nerren

The Securities and Exchange Commission today charged Texas-based real estate developer Dike Boone Nerren with fraud in connection with two securities offerings he used to fund a real estate project in McKinney, Texas.


According to the SEC's complaint, between 2015 and 2017 Nerren raised approximately $1.4 million through Sapient Fund II, LLC and Vintage Place Fund, LP. The complaint alleges that Nerren diverted $450,000 of those funds to an unrelated real estate project he was developing, without disclosure to investors and in contravention of the disclosures in the offering materials. According to the complaint, although Nerren began repaying the diverted funds, the project experienced financial difficulties and Nerren was unable to pay the project's bills because of the diversion of funds. As alleged, the McKinney project was ultimately foreclosed, resulting in a total loss for the investors.


The SEC's complaint, filed in federal district court for the Eastern District of Texas, charges Nerren with violating the antifraud provisions of Sections 17(a)(2) and (3) of the Securities Act of 1933. Without admitting or denying the SEC's allegations, Nerren agreed to be permanently enjoined from violating the charged provisions and to pay a $37,500 civil penalty. The settlement is subject to court approval.


Conclusion: Dike Boone Nerren Is A Fraud

The report on SEC clearly suggests that Dike Boone Nerren never had any intentions to do honest business or provide helpful services. Main intention behind all their actions was to take advantage of the honesty & gullibility of people and scam them. It would be an understatement to call this a mere fraud, this one is a scandal.


If you feel like you are a victim of this scam, then I recommend contacting a law firm and consulting with them about a lawsuit. Companies & firms pay huge reprimands to settle serious lawsuits.

Help Us Fight These Criminals

Do you have evidence against Dike Boone Nerren or one of their associates, then please post it here. These criminals rely on their witnesses’ & victims’ silence, if you speak up, then they get exposed and punished for their horrific acts. I started The Smart Investor Feed on this site with only one purpose; to become a nightmare for the financial frauds in the country. I try to post often, so you can bookmark my profile for regular updates on frauds & con-artists.


Full Disclosure: We sourced this piece of information from the SEC database


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