Claimant files FINRA arbitration claim for up to six figures in damages
A Houston, Texas investor has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Centaurus Financial after he sustained losses in GWG Holdings L Bonds. These risky junk bonds were unsuitable for this inexperienced retail investor, yet his Centaurus broker allegedly recommended and sold L Bonds to this claimant.
GWG Holdings, Inc., which sold $1.6B of L bonds to investors through brokerage firms like Centaurus, filed for Chapter 11 bankruptcy protection in April 2022. Thousands of investors seek to recover losses in these complex, speculative, and illiquid high-yield bonds.