In the wake of fraud allegations leveled against Tony Thompson, TNP Strategic Retail Trust has asked him to step down. TNP has also taken away Thompson's co-chief executive title and will not renew his adviser contract. The Financial Industry Regulatory Authority accuses Thompson of "securities violations, including misleading investors, withholding material information and possibly fraud in connection with the offering and sale of certain investment programs," according to a TNP filing with the Securities and Exchange Commission.

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