Realty Capital Securities to Shut Down and Pay $3 Million Fine to MassachusettsBy
A brokerage firm associated with the troubled real estate investment empire AR Capital will shut down its operations nationwide and pay $3 million to Massachusetts’ securities regulators after being charged with faking proxy votes.
Realty Capital Securities, the brokerage based in Boston, is ending its registration in the state by the end of the week and then across the country, laying off about 150 workers in the process.
The development casts doubt on Realty Capital’s $6 million sale to the private equity giant Apollo Global Management, a transaction that was connected to an even bigger $378 million deal between Apollo and AR Capital that unraveled last month…
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