UPDATE – September 9, 2020 – Sonn Law Group Has Filed a Class Action Lawsuit Against YieldStreet. Click here to view the complaint. Complete the form below to inquire about joining the class action.
UPDATE – September 2, 2020 – Did YieldStreet Just Admit to Conducting Poor Due Diligence?
Sonn Law Group is representing investors who have suffered losses with YieldStreet. YieldStreet is mainly a short-term, online, crowdfunded lending platform that features shorter-term debt offerings that are secured by commercial or multifamily real estate, art, or marine assets.
Yieldstreet Investment Loss Intake Form
Sonn Law Group is representing investors who have suffered losses with Yieldstreet. Contact us to discuss your recovery options.
Most of the loans offered by YieldStreet have terms of three years or less. YieldStreet is only available to accredited investors, meaning they must have a net worth of over $1 million, excluding their primary home, or earn over $200,000 per year.
YieldStreet offers investments such as Real Estate Investment Trusts (REITs), Litigation Finance, Marine Deconstruction, Marine Vessel Acquisitions, Rideshare Fleet Expansions, Vessel Deconstruction, Oil and Gas, among others. YieldStreet’s pitch focuses on the fact that many of their offerings are asset-backed, meaning that there is an actual asset that can be claimed and sold to recover the investment in the event of a default.
Despite these assurances, many borrowers affiliated with the investments have defaulted or gone bankrupt and YieldStreet is claiming that some borrowers have acted fraudulently. YieldStreet investors have purportedly received letters and emails from YieldStreet, detailing scenarios where borrowers have defaulted and highlighting accusations of fraud.
Specifically, the YieldStreet President addressed investors about alleged borrower fraud and mass defaults in the Marine, Vessel, and Deconstruction categories.
If you suffered losses investing in YieldStreet, please call us now at 866-827-3202 or complete our contact form.