Thomas Kearns Quoted in the Real Deal on the Real Estate Crowdfunding Implosion

Firm News

Olshan Real Estate partner Thomas Kearns was recently quoted in an article in The Real Deal (subscription required) on the recent litigation involving The Prodigy Network, a real estate crowdfunding/investment company. Prodigy’s CEO, Rodrigo Niño, died last year. The article reported that investors in Prodigy crowdfunding deals brought lawsuits against the company. The article discussed the issues that crowdfunded investors may have when investments go bad or the sponsoring company has setbacks. Mr. Kearns is quoted opining  on the matter: “Investors in crowdfunding  deals are generally quite exposed, because managers often have the right to sell investment buildings without getting approval first.” He continued “And if there’s not enough money to pay the investors off, too bad.”


Media Contact

Marketing Contact
Mizi Mehaj
Marketing & Administrative Manager

Jump to Page

Necessary Cookies

Necessary cookies enable core functionality such as security, network management, and accessibility. You may disable these by changing your browser settings, but this may affect how the website functions.

Analytical Cookies

Analytical cookies help us improve our website by collecting and reporting information on its usage. We access and process information from these cookies at an aggregate level.