Did You Lose Money Investing in Mainsail Debt Fund LLC?

Sonn Law is Investigating Mainsail Debt Fund LLC, Mainsail Income Fund, Mainsail Capital LLC, and David Griggs.

Sonn Law is investigating Mainsail Debt Fund LLC for one of its clients. Sonn Law has learned that the Mainsail Debt Fund LLC is in default of its payment obligations to at least one of its investors.

Mainsail Debt Fund LLC was allegedly pitched as a safe, fixed income investment in performing residential mortgages, and the investor later learned that was not the case—that the money was allegedly used to fund “new construction” and not in an existing pool of safe performing residential mortgages as promised.

Misleading statements or omissions of material facts in the offering of any security is considered a violation of state and federal securities laws.

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Mainsail Debt Fund LLC was offered for sale near “the Villages,” a well known retirement community near Orlando Florida. Mainsail Debt Fund, is believed to be affiliated with David Carle Griggs, age 56, of Pointe Vedra Beach, FL, Geoff Disston, Director, David Babinski, Director and Christopher Walker, Esq. Outside General Counsel, according to SEC records.

Sonn Law has also discovered that it appears that in 2017, a new fund, Mainsail Income Fund LLC may have also begun raising money in an unregistered offering, according to SEC records. Further, there may be a further affiliation by David Griggs with Mainsail Capital LLC and Mainsail Capital Ventures LLC.

If you invested in this unregistered private placement investment, please contact Sonn Law to discuss your options. Under the law, private placements like the Mainsail Debt Fund LLC and the Mainsail Income Fund LLC must meet stringent rules to be exempt from registration as a registered security under the Securities and Exchange Act and Florida law.

Failure to register or failure to meet the exemption rules renders an offering in violation of both federal and Florida law, to and including the Florida Securities and Investor Protection Act. Depending on the size of the offering, each investor may have to be an “accredited investor” meaning they must have assets of at least $1million or income of $250,000 each year for the prior two years, at the time of the offering.


Sonn Law has experience representing investors with lost investments in private placements who were misled about the investment, who did not meet the accredited investor rules, or were sold the investment in violation of the financial advisor’s fiduciary duties. Call Sonn Law for a free consultation now. Offices by appointment in Orlando and Tampa, Florida. Main office Aventura, Florida. 1-833- StockLaw or 305-912-3000.

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