Respected sir/madam,
Financial advisor sold us on this Limited Partnership (Jaymor Investments) based on receiving tax write offs on the loan for the investment and a great return normally in a few years after when the property is sold.\r\nNow I am being told the property (Lighthouse Pointe ..Florida) is being foreclosed and I cannot understand that they took all our money to purchase this property and lose it...and their website has shown that it is fully subscribed inwhich I believed to be financially\r\nsolid to ride out this economic downturn until the property could be sold. I am now on the hook for a lot of money in my retirement.\r\nThe OSC states they have no control over this type of investment ???????\r\nHow can companies (investment/advisor\\\\s) get away with selling these products and not be held accountable?