GWG Bond Fraud Lawyers

Estate of Michigan Investor Files Six-Figure GWG Bond Fraud Lawsuit Against Centaurus Financial. Widow Was Inexperienced, Elderly Investor Who Sought Minimal Risk And Instead Ended Up With High-Risk Junk Bond

The Shepherd Smith Edwards and Kantas GWG Bond Fraud Lawyers ( are representing another investor in their L Bond lawsuit against a broker-dealer. This time, the claimant is the estate of a deceased Michigan retiree that is seeking an L Bond lawsuit for up to $500K in damages from Centaurus Financial.  

The septuagenarian was a widow who entrusted Centaurus Financial broker John Edmond Tryon to properly manage her assets. Instead, this Michigan financial advisor allegedly unsuitably recommended a GWG L Bond while purportedly misrepresenting this junk bond as safe and secure. It now appears that there will be a near complete loss of principal with this investment for this investor. Not only that but GWG Holdings is now accused of running a more than $1.6B Ponzi scam that has defrauded many thousands of older investors and seniors. 

Tryon also allegedly unsuitably recommended that this elderly investor switch from a fully paid annuity to a different one. This resulted in more fees and caused her to lose out on a significant payout. He also purportedly unsuitably recommended a UDF investment that is now illiquid, and this resulted in a total loss for this woman. In this GWG L Bond lawsuit, the estate is alleging breach of contract, negligence, misrepresentations and omissions, and other acts of broker misconduct.

Meanwhile, the broker and Centaurus earned sizable commissions from these transactions. The high fees that financial firms can earn from selling alternative investments is one reason that brokers might disregard their customers’ best interests to push these risky, complex products onto unsophisticated investors. 

If you are a GWG investor, know that waiting for its bankruptcy case to conclude could take a very long time. Who knows how much, if anything, you will get back from those proceedings. 

Why It Is Important To Work With Skilled GWG L Bond Lawyers

Unfortunately, dozens of regional broker-dealers failed to conduct the necessary due diligence which would have allowed them to recognize the red flags indicating that something fraudulent with GWG may have been happening. Either that, or they disregarded the warning signs and went on to unsuitably sell these L Bonds to customers. 

To date, Shepherd Smith Edwards and Kantas have filed dozens of investment loss recovery claims on behalf of those seeking to recover their losses from the broker-dealers that sold them. We currently are representing a number of claimants against Centaurus not just over GWG investments, but also over portfolio losses involving Moody National REIT II. With over 100 years’ worth of combined experience in securities law and the securities industry, we have the skills and knowledge to represent investors from all walks of life. This includes the estates of those who are no longer with us. 

Your GWG Lawsuit will likely have to be filed in FINRA arbitration, which is a legal forum that we are extremely familiar with. We know how to build a solid case on your behalf and fight for your financial recovery.

Contact Our GWG Bond Fraud Lawyers  

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