One of the biggest platforms that promised to give small investors access to major real-estate projects missed red flags and funneled cash into firms that fabricated their past. Now it is facing deals gone bust where $63 million of customer cash has gone missing.
CrowdStreet raised $4 billion for property developers by touting big returns, but many deals fell short.
After this story was published Monday, CrowdStreet said it was replacing its chief executive officer.
Read the full story on The Wall Street Journal here.