Jesse White Orders Chicago Man and Real Estate Company To Stop Selling Securities Advertised Investing on Spanish Radio
Secretary of State Jesse White, through his Securities Department, ordered respondents Raul Marrero, Reeden Capital Group, Inc. and Multi Family Three, LLC, to stop selling securities after receiving complaints from investors. Respondents are not licensed to conduct securities transactions in Illinois.
White’s office issued the temporary order of prohibition after learning Marrero was issuing promissory notes to investors with claims of investing the funds in real estate ventures and paying investors high interest rates. Investors failed to receive the promised returns and contacted the Securties Department.
Marrero, who has since left the company, and the Reeden Group had advertised their services on a number of Spanish radio stations. People who invested with Marrero, Reeden or Multi Family are urged to contact White’s office at 312-793-3178. A Spanish-speaking investigator is available to assist those investors who do not speak English.
White advises people to investigate before investing to be sure the group or person is registered with the Secretary of State’s office.
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