Maxwell Drever, California-Based Real Estate Developer, Charged by SEC Following Allegations of Misleading Investors

Drever is accused of providing false information to investors about a real estate fund.

maxwell-drever-allegations-of-misleading-investorsMaxwell Drever was charged by the SEC with misleading investors in a multi-million dollar real estate fund that Drever managed. The SEC accused Drever of raising approximately $53 million from investors to purchase and redevelop a commercial building in Dallas, Texas.

Drever allegedly failed to disclose that he received $10.2 million in fees charged to investors in connection with the redevelopment project. The SEC also accused Drever of investing $9 million of the undisclosed fees that he received to take an equity stake in the project for himself, while falsely claiming to investors that his investment came from his own funds.

The SEC charged Drever with violations of Sections 17(a)(2) and (3) of the Securities Act of 1933. Drever consented to the cease-and-desist order, agreed to pay disgorgement of $1,214,246 plus prejudgment interest of $282,979, agreed to pay a civil penalty of $75,000, and consented to the publication of a copy of the SEC’s order on the website of his entity, Drever Capital Management LLC.

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The Sonn Law Group is currently investigating allegations surrounding Maxwell Drever. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.