TNP Strategic Retail Trust has parted ways with Anthony W. Thompson, its founder and former principal. TNP SRT has also changed his name by dropping “TNP” and is now known as Strategic Retail Trust.
Anthony W. Thompson has recently been accused of fraud in connection with a number of investment programs organized and promoted by his company, Thompson National Properties. Those investment programs include TNP 2008 Participating Notes and TNP 12% Notes, and do not include TNP SRT. The fraud charges were filed by the Financial Industry Regulatory Authority. Thompson has disputed the charges.
Two Thompson National Properties – sponsored programs – TNP 6700 Santa Monica Boulevard (“TNP Kodak”) and Bruin Fund – have closed after selling their main assets at a loss. Investors in those programs have incurred losses. Other programs, such as TNP 2008 Participating Notes, TNP 12% Notes, and TNP Strategic Retail Trust, have defaulted on distribution payments and/or other debt.
Securities attorneys Jason Kane and Joe Peiffer have been filing cases on behalf of investors in a number of TNP programs and are preparing to file more cases. The cases they filed on behalf of their clients allege misrepresentations and omissions in connection with the sale of such TNP programs.
TNP investors may contact attorneys Jason Kane and Joe Peiffer for a free evaluation of their cases and a discussion about their recovery options, toll free at (216) 589-9280.