February 07, 2017
SLRA Inc., as successor entity to Liquid Realty Advisors III, LLC, Scott M. Landress
SANCTION AMOUNT: $1,250,000
Defendants: SLRA Inc., as successor entity to Liquid Realty Advisors III, LLC
Scott M. Landress
Administrative proceeding based on SEC findings that Landress, a private equity adviser, withdrew improper fees from two private equity funds he managed through his investment advisory firm, SLRA. Earned fees were shrinking as the net asset value of the underlying investments (real estate) fell, so Landress allegedly simply withdrew more money for himself, purportedly as payment for services provided by an affiliate. In addition to the monetary sanction, he was also barred from the securities industry.
- Key Docs
- Official SEC press release