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SEC Accuses Las Vegas REIT CEO of Defrauding Investors

Complaint Alleges Self-Dealing Between Three Companies: The Parking REIT and Vestin Realty Mortgage I and II
An office building at Corporate Center at the Curve in Las Vegas was one of a handful of properties that exchanged hands in 2013 and 2014 between firms formed by Michael Shustek. (CoStar)
An office building at Corporate Center at the Curve in Las Vegas was one of a handful of properties that exchanged hands in 2013 and 2014 between firms formed by Michael Shustek. (CoStar)

The Securities and Exchange Commission said it's pursuing charges related to securities fraud against Michael Shustek, the CEO of several Las Vegas real estate investment trusts and his wholly owned investment advisory firm, Vestin Mortgage.

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