Retail loan-funding platform Yieldstreet and its co-founder Michael Weisz are the target of a lawsuit by disgruntled retail investors who claim Yieldstreet misled them in ship-recycling deals and other transactions.
The claimants also allege that Yieldstreet overstated its own maritime expertise and ignored its maritime finance advisors.
The investors have told a US court that Weisz lost their money by locking its specialist maritime deal originators out of the structuring of deals.
