IMH Secured Loan Fund investor investigation over potential misconduct

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) May 24, 2010 -- An investigation on behalf of investors in IMH Secured Loan Fund over possible misconduct committed by stockbrokers and others was announced.

If you are an investor in the IMH Secured Loan Fund, you have certain options and you should contact the Shareholders Foundation, Inc by email at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.

The IMH Secured Loan Fund, LLC is a private placement managed by Scottsdale based Investors Mortgage Holdings, Inc. According to the investigation by a law firm the investigation is focused on potential misconduct committed by stockbrokers who sold the IMH Secured Loan Fund to unsuspecting investors, many of them retired. Stockbrokers registered with the Financial Industry Regulatory Authority (FINRA), have a fiduciary duty to exercise due diligence to determine whether such investments are suitable for their customers and to adequately disclose the risks associated with investing in speculative and highly illiquid private placements such as the IMH fund.

The IMH Secured Loan Fund was organized in May 2003 to invest in and manage mortgage investments, consisting primarily of short-term commercial mortgage loans collateralized by first mortgages on real property, and to perform all functions reasonably related thereto, including developing, managing and either holding for investment or disposing of real property acquired through foreclosure or other means. On February 16, 2010, IMH Financial Corporation filed a second amended registration statement with the Securities and Exchange Commission (SEC) as part of their ongoing effort to restructure the company with a view towards ultimately filing for an initial public offering. Then on March 16, 2010, a tender offer statement was filed by real estate management company MacKenzie Patterson Fuller. On April 01, 2010, management for the IMH Secured Loan Fund filed with the SEC a statement recommending that investors reject the tender offer from MacKenzie Patterson Fuller to purchase their units at a price of $1,000 per unit. IMH's fund manager characterized the tender offer as "an opportunistic attempt to deprive the Members of the Fund who tender Units in the Offer of the potential opportunity to realize a greater long-term value of their investment in the Fund." IMH's fund manager, however, could not provide any guarantees or assurances to investors about the fund's long-term prospects. On May 18, 2010, the Committee to Protect IMH Secured Loan Fund announced that it issued an open letter urging members of IMH Secured Loan Fund, LLC not to respond to the Fund’s request that its members consent to the conversion transactions described in the Fund’s Consent Solicitation/Prospectus.

Those who are investors in the IMH Secured Loan Fund, have certain options and should contact the Shareholders Foundation, Inc by email at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.

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