BOISE - DBSI calls itself one of the nation's leading real-estate investment companies. The company is a 29-year veteran in real estate investment, based near Boise.

But now it's at the center of a $2 billion class action lawsuit has been filed.

The company is accused of investment, and bank fraud and violating the Idaho Securities Act.

Court documents claim, since 2003, DBSI has acquired 250 commercial properties in the U.S., worth more than $2 billion. The company allegedly sought 12,000 investors around the world. The suit claims DBSI made an illegal profit in excess of $500 million dollars.

"DBSI is aware of the complaint that was filed with the 4th judicial district court of idaho last week," DBSI says. "The allegations set for in the complaint are completely without merit. The company plans to vigorously defend the lawsuit and has reffered the matter to its outside legal counsel."

CBS 2 spoke exclusively with Paul Mangiantini, one of the attorneys for the plaintiffs. He says DBSI skirted securities laws requiring the disclosure of investment information that would have leveled the playing field for the average investor.

Mangiantini says several investors are from the Treasure Valley and Coeur d'Alene.

There are 17 defendants named in the suit including three members of DBSI's executive team. CBS 2 tried to reach them, but their personal numbers aren't listed. CBS 2 called the company and heard this voice mail message:

"Please note we are working with a heavily reduced workforce and have over 12,000 investors seeking immediate communication," the machine said.

The message went on to say that DBSI Is getting so many calls and emails, they're unable to respond at this time.

"This case is extremely serious. It goes hand in hand with the subprime mortgage disaster, the banking debacle, and the wall street melt down. It's a situation involving people in positions of power that have taken advantage of simple investors," Mangiantini said.