PIC Renegade Properties to pay $400K for investment fund violations
By 
Adrianne Appel2022-11-10T20:54:00
A general partner in a real estate investment fund agreed to pay $400,000 to settle allegations it failed to register the fund and take reasonable steps to verify investors were accredited, the Securities and Exchange Commission (SEC) announced Wednesday.
PIC Renegade Properties raised more than $54 million from 140 investors for the PICR Fund III between mid-2015 to 2019, the SEC said. Renegade solicited investors through a website, YouTube videos, and a press release.
Renegade advertised the funds would be used to buy and renovate single-family homes and then to rent or resell them for profits, the SEC alleged in its order.
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