Tagged: william skelley

SEC Concludes Fraud Case Against Real Estate Crowdfunding Platform iFunding and Co-Founder

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The Securities and Exchange Commission (SEC) has obtained final judgment concluding the fraud case against real estate crowdfunding platform iFunding and defendant William C. Skelley. iFunding was an early entrant in the real estate crowdfunding market that issued securities under Reg D 506c, a new… Read More

SEC Posts Final Judgement in Enforcement Action Against Founders of Real Estate Crowdfunding Platform iFunding

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The Securities and Exchange Commission (SEC) has posted final judgments in the case of real estate crowdfunding platform iFunding and co-founders William Skelley and Sohin Shah.  The two founders were charged last year by the SEC Enforcement Division regarding allegations of fraud in the misappropriation… Read More

Real Estate Crowdfunding: A Discussion with William Skelley, Former CEO of iFunding

iFunding was an early entrant into the real estate crowdfunding sector. Once Title II of the JOBS Act became law (Reg D 506c), it opened up a new world of online promotion for securities offerings and real estate almost immediately became one of the hottest… Read More

SEC Lawsuit Against Real Estate Crowdfunding Platform iFunding Alleges Fraud Scheme to Misappropriate Investor Funds [u]

The Securities and Exchange Commission (SEC) has filed a complaint against real estate crowdfunding platform iFunding, along with co-founders William Skelley and Sohin Shaw. The complaint alleges that Skelley and Shaw pursued a “fraudulent scheme to misappropriate investor funds.” CI Senior Contributor and securities attorney… Read More

iFunding Insolvent, SEC Issues Subpoena as Investor Jazco Looks to Step In

iFunding, a real estate crowdfunding platform, is insolvent according to several sources. In recent days, information has cropped up that investors have been left holding the remains of the company that included properties with an estimated value of $20 million. One individual estimated the number… Read More

iFunding Secures $600,000 for Sacramento Multi-Family Development

On Wednesday, real estate crowdfunding platform iFunding announced it raised $600,000 of preferred equity financing for the completion of a multi-family apartment complex, EVIVA Midtown, which is located in Sacramento, California’s Midtown neighborhood. The funding portal revealed that Integral Group, the partner of the financing… Read More

iFunding Settles Lawsuit, Says Most Recent Month Best Ever

Real estate crowdfunding platform iFunding (Innovational Funding LLC) has settled a lingering lawsuit regarding a shareholder claim against the young  company. According to information provided by iFunding, the lawsuit brought against the company by Michael J. Turner has been settled for cash.  The cash settlement… Read More

iFunding Secures Over $1.9M For Florida Preferred Equity Investment

Real estate crowdfunding platform iFunding announced on Tuesday it raised $1.95 million in preferred equity for a student housing apartment community which is located in Gainesville, Florida. The investment is being made just as the more than 600 bedroom property prepares to open for occupancy. Sharing details… Read More

iFunding Selects The Bruckal Group For Denver Senior Bridge Loan

Over the weekend, real estate crowdfunding platform iFunding announced it had raised a total of $750,000 for a senior bridge loan in Denver, Colorado. The website confirmed that this loan is structured to accommodate a dynamic real estate strategy. The Bruckal Group was selected for the loan… Read More

iFunding Raises $6.2M in Total Financing For New Jersey Apartment Recapitalization & Condo Conversion

On Thursday, real estate crowdfunding platform iFunding announced it has secured $6.2 million in total financing for the recapitalization and renovation of a 26-unit, 6-story residential building in Asbury Park, New Jersey over the past nine months. iFunding revealed it originally provided acquisition financing totaling $2.85… Read More

iFunding Secures Funds For Florida’s Dania Beach Apartment Acquisition & Renovation

Real estate crowdfunding platform iFunding announced on Friday it has secured $700,000 for the acquisition and renovation of a 40-unit multifamily community located in Dania Beach, Florida, which is located between Miami and Fort Lauderdale. The sponsor of the project, KVR Properties, is known an experienced multifamily… Read More

iFunding Raises Funding for Acquisition & Development of DC Property

Real estate crowdfunding platform iFunding has closed a $730,000 raise on an 8 unit for sale condo building in Washington, DC neighborhood Glover Park.  The development was sponsored by Columbia Property Capital, a developer in DC that speciallizes in condo conversion. Guy Prudhomme, President &… Read More

Lawsuit Filed Against iFunding “Discontinued with Prejudice”

In a pretty big win for the real estate crowdfunding platform iFunding, the lawsuit filed against it by CapStack Partners was “discontinued with prejudice in all respects” yesterday. Crowdfund Insider reported in January that CapStack Partners had filed a grievance with the Supreme Court of… Read More

iFunding Hits New Milestone: Returned Over $5 Million to Investors in 2015

On Thursday, real estate crowdfunding platform iFunding announced that it has hit a new milestone. The portal revealed that it returned over $5 million of capital to investors during 2015’s calendar year. Founder and CEO of iFunding, William Skelley, shared: “The entire team is excited… Read More

Brief: iFunding Appoints Daniel Drew Vice President & Head of Real Estate

Real estate crowdfunding platform, iFunding, announced on Wednesday it has hired Daniel Drew as Vice President and Head of Real Estate. He will be in charge of expanding the organization’s business development and platform offerings for investors and institutions. Drew  joins the iFunding team from… Read More

Brief: iFunding Completes Preferred Equity Financing For Sacramento Multi-Family Building

On Tuesday, commercial real estate crowdfunding platform, iFunding, announced it has completed preferred equity financing for the construction of an 118-unit multifamily building, Eviva Midtown, in the Midtown District of downtown Sacramento, CA. The total project cost is $41 million. According to the funding portal,… Read More

iFunding’s William Skelley Named Member of the Next Generation of Real Estate Leaders

Founder and CEO of real estate crowdfunding platform iFunding, William Skelley, has been named a member of the exclusive ‘Next Generation of Real Estate Leaders.’ The first annual dinner for the group will be held this evening in New York City at the Columbus Citizens Foundation…. Read More

Tough Month. iFunding Hit with Second Lawsuit

Real estate crowdfunding platform iFunding has been hit with a second lawsuit. iFunding was recently blindsided by a suit filed by CapStack Partners in the New York Supreme Court. Today The Real Deal is reporting that iFunding is party to a second suit, this one… Read More

iFunding Sued. Real Estate Crowdfunding Company Calls Lawsuit Baseless

iFunding, one of the earlier entrants into the real estate crowdfunding sector, has started the New Year on a bit of a sour note. In an article published in the Real Deal (TRD), it was revealed that iFunding had been sued this past December by… Read More

iFunding Secures Financing for $2.85M Senior Mortgage in New Jersey

iFunding, a commercial real estate crowdfunding platform for accredited investors, announced today that they raised $330K in mezzanine financing for a $2.85M senior loan mortgage. The property is located at 1706 Park Ave, in Asbury Park, New Jersey. The senior loan was pre-funded by iFunding… Read More

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