Seasoned GWG L Bond Investor Loss Attorneys

Seasoned GWG L Bond Investor Loss Attorneys

Filing Your Own Individual FINRA Lawsuit Maximizes Your Chances for Full Financial Recovery

Shepherd Smith Edwards and Kantas ( is representing investors who have suffered serious losses in GWG L Bonds against their broker-dealers. Unfortunately, a slew of regional brokerage firms appear to have unsuitably sold these life settlement-backed bonds to customers, including many retail investors and retirees, in what is now being called an alleged “classic” Ponzi scam. Visit GWG Holdings, Inc. for more information.

GWG Holdings Inc. sold $1.6B of L bonds through approximately 145 brokerage firms all over the United States. In April 2022, the alternative asset firm filed for Chapter 11 protection. On December 15, 2022, the GWG committee of bondholders submitted a filing for a proposed lawsuit in US Bankruptcy Court in Houston accusing CEO Brad Heppner of operating a “multiyear long fraud.” The committee said that even after it became evident that GWG was flailing and the only way to repay investors was to keep selling more of these illiquid private placements to current and additional investors, these broker-dealers allegedly engaged in “aggressively and misleadingly “promoting and selling L Bonds.

If you are a GWG L bondholder that sustained significant losses, please contact our skilled brokerage firm arbitration attorneys today to request your free, no obligation case consultation.

Why File Your Own FINRA Arbitration Claim Against Your Broker-Dealer?


Already, class action securities litigation has been brought over GWG L Bond losses. However, you should know that investors seldom recover much, if anything, through this type of lawsuit.

Also, considering that GWG Holdings has filed for bankruptcy, that also could negatively impact recovering any damages from the company.

What you can do is pursue your broker-dealer in FINRA arbitration for unsuitably recommending GWG L bonds to you, earning high commissions and fees in the process, and purportedly not conducting proper due diligence into whether this was an investment scam. Misrepresentations and omissions, broker negligence, overconcentration, and failure to supervise by the broker-dealer are also allegations that can warrant filing a FINRA lawsuit against the firm.

You Want To Hire FINRA Lawyers That Are Extremely Knowledgeable About GWG L Bonds

Already, Shepherd Smith Edwards and Kantas is representing dozens of investors in FINRA arbitration and we are continuing to file more L Bond invest loss lawsuits against broker-dealers.

Most recently, this included:

  • A six-figure FINRA lawsuit against managing broker-dealer Emerson Equity and Los Angeles broker Tony Barouti, also of Barouti Financial. Barouti has 21 disclosures on his CRD, most of which are pending securities arbitration disputes brought by investors. The claimants, a retiree and his two adult children, are seeking up to $500K in damages.
  • Another six-figure GWG L bond investor loss claim against Western International Securities. The couple, who are unsophisticated investors, allege that Nevada financial advisor Andrea Steiner was more interested in earning commissions than fulfilling her fiduciary obligation to them. Steiner, who is now with Vanderbilt Securities, is also an investment adviser with Consolidated Portfolio Review.

These are not the first GWG L Bond lawsuits that we’ve filed against both Emerson Equity and Western International Securities.

There are benefits that come from hiring a securities arbitration law firm that is representing similar claims against a particular broker-dealer or multiple brokerage firms. One benefit is that each investor gets to work with a team of experienced securities lawyers who have immersed themselves in the discovery process to find out exactly how the investment failed and why the financial advisor that sold you this product may have engaged in broker misconduct or negligence.

By now, the brokerage firms that sold GWG investments to customers know who we are because they are having to face us time and again in FINRA arbitration. This behooves them to want to work with us and our clients.

How To Contact Us:

For over 30 years, Shepherd Smith Edwards and Kantas has been fighting for investors for you. Our efforts have resulted in thousands of clients achieving full or partial financial recovery. Call (800) 259-9010 today.


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