Brian Louis

Nicholas Schorsch has resigned from RCS Capital, New York REIT and 11 other non-traded real estate investment trusts and direct investment programs sponsored by AR Capital.

With part of Nicholas Schorsch's real estate empire fracturing into warring factions, a chunk of his fortune may depend on whether RCS Capital can distance itself from the accounting missteps at American Realty Capital Properties.

RCS Capital said it was contacted by FINRA and the SEC after accounting errors were disclosed at American Realty Capital Properties.