Investment Loss Recovery Lawyer

Did Former Dempsey Lord Smith Broker Arni Diamond Sell You GWG L Bonds?

Our Skilled Investment Investment Loss Recovery Lawyer Team Wants To Talk To You 

Shepherd Smith Edwards and Kantas (investorlawyers.com) are continuing to investigate claims of losses by those who worked with former financial advisor Arni Jay Diamond. Temporarily suspended by the Financial Industry Regulatory Authority (FINRA) for allegedly unsuitably recommending speculative alternative investments, including limited partnerships, to two older investors, Diamond is a previously registered broker and investment adviser. He also has been licensed to sell insurance products in Florida under his company The Diamond Group.

It has recently come to our attention that while Diamond was a Dempsey Lord Smith stockbroker, he allegedly may have sold GWG L Bonds to investors. More than $1.6B of these high-risk junk bonds were sold to thousands, including many retirees for whom they were unsuitable. In April 2021, GWG Holdings filed for bankruptcy protection leaving investors with huge losses in what is looking to be a huge investment scam.

Diamond’s CRD notes 19 disclosures, including at least 15 customer disputes. Most of them, alleging breach of fiduciary duty, misrepresentations, unsuitable investment recommendations, and/or breach of contract, have resulted in settlements. He was allowed to resign as a registered representative from Dempsey Lord Smith LLC in 2020 after purportedly failing to follow policies and procedures.

If former Florida broker Arni Diamond or any other financial advisor sold you GWG L Bonds, contact us today to request your free, no-obligation case assessment.

How Can Our L Bond Fraud Lawyers Help?

During our call, we can help you determine whether broker misconduct or negligence played a role in your investment losses. While your financial advisor had nothing to do with the L Bonds’ failure—GWG Chairman Brad Heppner is accused of using the company to enrich himself and fund his Beneficient Company—if this broker or their firm failed to conduct the proper due diligence, overconcentrated your account in too many L bonds, made a too risky investment recommendation given your investing profile, failed to fully apprise you of the risks, or neglected to properly supervise your account, you may be able to sue for damages.

Our Investment Loss Recovery Lawyer team has over a combined more than a century’s worth of experience in securities law and the securities industry. Many of us are former brokers who left that industry because we didn’t like the many unsavory practices we witnessed that were causing investors harm. We now take our knowledge as former insiders of the brokerage industry to fight for clients like you.

To find out more, call our Investment Loss Recovery Lawyer team at (800) 259-9010 today.