SSEK Law Firm Representing GWG L Bond Investors Against These Broker-Dealers

GWG Holdings, Inc. sold $1.6B of L bonds to investors through more than 140 regional brokerage firms, including managing broker-dealer Emerson Equity. These financial firms earned high commissions and other fees from selling these risky life settlement-backed bonds to customers.

Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) represent many of these investors against the firms and registered representatives that unsuitably recommended and sold these junk bonds to them. Many L bondholders are retail customers, including retirees, who should have never invested in these private placement-like products.

L bond investors are alleging they were never suitably apprised of the risks involved or updated about GWG’s ongoing financial troubles. Visit GWG Holdings, Inc. and GWG Holdings L Bonds for more information.

Many GWG L bond investors suffered losses in the six and seven figures.

A six-figure FINRA arbitration claim on behalf of an elderly couple who claim that they were pursued by Centaurus Financial to work with them and invest in L bonds. The claimants, both Texas retirees, are requesting up to $500K in damages. They are alleging misrepresentations and unsuitability.

A Houston retiree is also claiming up to six figures in damages over GWG L bonds recommended by a Centaurus financial advisor.

An Arizona investor suffered L bond losses and now seeks to recover up to $500K. Her financial advisor, former Centaurus broker Otto Ramon Bohon, is also with Modern Wealth Management in Tucson.

Investors from Utah and Arizona are seeking up to $1M in damages over losses they sustained in GWG L bonds. Their financial advisor, former Centaurus broker Gregory John Richards, is now with Benchmark Investments, which is also a respondent in this case. Richards operates locally in Arizona with Liberty Wealth Management.

Two Florida retirees allege that despite making clear they did not want undue risks, Centaurus broker Donna Seymour, also of Ingram Financial Group in Winter Haven, FL, unsuitably recommended and sold them GWG L Bonds.

A Houston investor has filed a six-figure GWG L Bond claim against Centaurus. This claimant, who was saving for retirement, suffered significant losses.

A retired Missouri couple is pursuing up to $500K in damages. Their Center Street Securities broker Joseph LaTour operates locally as LaTour Asset Management. They are alleging gross negligence, overconcentration, and other claims related to their L Bond losses.

An older Tennessee couple suffered serious losses in L Bonds that were sold to them by Center Street Securities broker Morgan Darby Hill, who is also CEO of Hill & Hill Financial.

Ozark, MO retirees, who also worked with Center Street financial advisor Joseph LaTour, are now seeking up to $500K for their L Bond losses.

A Missouri retiree alleges that Titan Securities broker Rodger Sprouse, also of Sprouse Financial in Lee’s Summit, MO, never fully informed him of the risks of investing in GWG Holdings L Bonds. The claimant is pursuing a six figure L Bond FINRA arbitration claim.

An inexperienced investor alleges that NI Advisors broker Peter Po in Cupertino, CA failed to apprise him of the risks involved in L Bonds.

In their six-figure GWG L Bond case, an older San Francisco couple is accusing NI Advisors broker Shirley Ank Wong of concentrating their retirement funds in these risky junk bonds.

Two Florida retirees contend that ex-National Securities broker Marc Cline, also of Cline Financial Group, misrepresented the risks involved in L Bonds. They are accusing the broker-dealer of supervisory failures.

Retirees from New York and Los Angeles are pursuing up to $1M in damages from Newbridge Securities related to their L Bond losses. All of them worked with Newbridge Securities broker Betsy Whipple, also of BL Whipple Wealth Management LLC.

Three elderly Illinois retirees are pursuing damages from Moloney Securities after brokers Shane DeSherlia and Dale Timmerman unsuitably recommended L Bonds to them.

A Texas retiree is pursuing up to $500K damages after Western International Securities broker Shomir Mukherjee in Los Angeles allegedly sold L bonds and non-traded REITs to him.

As you can see above, many of these stockbrokers also worked locally with an investment advisory firm. It may have been through the latter that an investor knew their financial advisor. Regardless, it’s because the financial professional was registered with a broker-dealer that they were licensed to sell GWG L bonds to customers.

These brokerage firms can and should be held liable for investors’ losses through Financial Industry Regulatory Authority (FINRA) arbitration. This is not the kind of claim that you want to pursue without experienced legal professionals representing you.

This is a growing list of cases that we will continue to update as SSEK Law Firm files more claims for L bond investors against their broker-dealers.

For over thirty years, SSEK Law Firm has been fighting for investors. We have helped thousands of clients, including retirees and other retail customers, recover the losses and damages to which they are entitled from the financial firms that engaged in broker misconduct or negligence.

Call SSEK Law Firm at (800) 259-9010 today. You can also reach us online to schedule a free, no-obligation initial call with one of our knowledgeable L bond lawyers today.