The Seattle Times quoted Corr Cronin attorney John T. Bender in its coverage of litigation in which Bender represents a group of investors who allege they were promised safe returns, and invested $17.5 million with a Bellevue real estate firm that has since filed for bankruptcy. Bender and his team obtained a temporary restraining order that secured the firm’s bank accounts and the real estate assets in the firm’s portfolio. The TRO was later modified to require the removal of the firm’s CEO. 
 
Bender told the Times: “My clients – all of whom are from China, and many of whom do not speak English – invested their savings with iCap so they could improve their lives or the lives of their families here in the U.S. It goes without saying that my clients have been completely devastated by the revelations over the past few months—they are committed to holding accountable those who are found to have misled unsuspecting investors or who have engaged in other misconduct.”

Bender also told the Times: “Along with requiring Chris Christensen’s removal as CEO of iCap, the Court’s September 25 order mandated a series of actions iCap and Christensen must take for the benefit of all investors – both before and during the bankruptcy process. This would not have occurred but for my clients’ steadfast commitment to standing up for their rights and holding all responsible parties accountable.”

Bellevue real estate investment firm faces bankruptcy, fraud allegations

ICap said it planned to develop real estate in Western Washington, but left sites unfinished and didn’t repay investors, lawsuits allege. The firm may owe as much as $500 million to 2,700 companies and people.