American Realty Capital Properties Inc. fell 15 percent in pre-market trading after its sale of Cole Capital was terminated amid an FBI investigation into accounting errors announced last week.

The shares dropped to $7.53 at 8:22 a.m. in New York from Friday’s closing price of $8.87. RCS Capital Corp. said in a statement today that it dropped a plan to buy Cole without giving a reason. American Realty, the largest U.S. owner of single-tenant buildings, a month ago agreed to sell Cole for at least $700 million.

American Realty is facing an investigation by the FBI and federal prosecutors after saying accounting errors were intentionally concealed, a person familiar with the matter said last week. On Oct. 29, the New York-based company lost almost a fifth of its market value after reporting the errors that led to the resignations of Chief Financial Officer Brian Block and Chief Accounting Officer Lisa McAlister.

Since it began trading three years ago, American Realty has expanded through an acquisition spree. Founder Nicholas Schorsch stepped down as chief executive officer at the end of September under a plan announced in June. He remains chairman of American Realty and is also chairman of RCS.

As part of the agreement with RCS, American Realty would have acted as an adviser to Cole Capital’s non-traded real estate investment trusts, sharing fees with RCS, according to the Oct. 1 statement. That agreement has been terminated, RCS said today.

The accounting errors reported by American Realty resulted in an overstatement of adjusted funds from operations and understated the company’s net loss for the first quarter and first half of the year, the REIT said. The company said its reports for the first half of 2014 and all of last year weren’t reliable.