As Creditors GWG Holdings of Running A $1.6B Ponzi Scam, Investors Continue To File Broker Fraud Lawsuits
Our Trusted Bond Loss Attorneys Are Helping Retirees, Older Investors, and Others Pursue Financial Recovery
Nearly one year after GWG Holdings, Inc. filed for Chapter 11 bankruptcy, the allegations that the company was running an alleged $1.6B Ponzi scam continue. The latest accusations come from creditors in the bankruptcy case. In a court document, they accuse GWG chairman and The Beneficient Company Group founder Brad Heppner of orchestrating a multi-year fraud to enrich his corporate entities and himself while purportedly causing financial harm to about 27,000 investors.
While bankruptcy proceedings is one way for creditors to try to recover damages, for GWG L Bond investors, your best chance for financial recovery may be to sue the brokerage firms that recommended and sold these high-risk junk bonds. This is where Shepherd Smith Edwards and Kantas (investorlawyers.com) can help. Already, our broker fraud attorneys have filed dozens of FINRA lawsuits against many of the broker-dealers and financial advisors who unsuitably marketed L Bonds to their customers.
Most recently, this includes yet another GWG L Bond fraud lawsuit against DH Hill Securities. The claimant, an older South Carolina small business owner, is pursuing up to $500K in damages from this brokerage firm. He contends that a DH Hill Securities broker allegedly unsuitably recommended GWG while not fully disclosing all of the risks. Another DH Hill Securities broker also allegedly mismanaged his retirement funds.
It is important to know that L Bonds were never suitable for retail investors, retirees, conservative older investors, and inexperienced investors. Unfortunately, the high commissions offered to financial advisors may have proved too much of a temptation, compelling many of them to allegedly forego investors’ best interests in favor of selling these high-yield junk bonds.
Why You Want To Work With Our Seasoned GWG Bond Loss Attorneys
Many GWG L Bond investors were blindsided when they found out that, in 2018, rather than continuing to invest in life insurance policies, the company started investing in Heppner’s The Beneficient Company Group.
Shepherd Smith Edwards and Kantas are well-versed in why this investment and the company failed. We also are familiar with the ways in which broker negligence or misconduct contributed to so many investors losing money in these illiquid, speculative bonds.
Should we agree to work together, you will have our entire team of experienced GWG L Bond investment fraud attorneys, legal assistants, and consultants fighting for your financial recovery. Because we also represent other L Bond investors, your claim will be able to resource all of the investigations and discoveries we have already conducted into these risky, unrated, speculative investments and the broker-dealers allegedly involved.
Over the years, we’ve found that investors whose claims are brought forth as part of a unit of similar securities cases often benefit from being represented by one trusted broker fraud law firm. (Also, by this time, the opposing counsel representing many of the brokerage firms that sold GWG L Bonds know who we are and the formidable resources and skills we bring to the table.)
How To Contact Our Bond Loss Attorneys:
With Shepherd Smith Edward and Kantas, you can count on receiving quality securities law representation along with customized personal attention. To schedule your free, no-obligation case assessment, call (800) 259-9010 today or contact us online.