Law Firm Committed to Helping GWG L Bond Investors
New York Securities Arbitration Law Firm Iorio Altamirano LLP
GWG Holdings, Inc. (NYSE:GWGH)
Broker-dealers are required to make investment recommendations that are suitable and in the best interest of their customers. When they don't, they should be held accountable.”
NEW YORK, NEW YORK, UNITED STATES, December 29, 2022 /EINPresswire.com/ -- Iorio Altamirano LLP (gwglaywer.com), a leading securities arbitration law firm that represents investors, is continuing to investigate potential lawsuits and arbitration claims involving investments in L Bonds offered by GWG Holdings, Inc. GWG Holdings filed for bankruptcy on April 20, 2022. In a recent court filing, investors have alleged that GWG Holdings was a “classic Ponzi scheme.”— August M. Iorio, Esq.
Iorio Altamirano LLP currently represents dozens of investors who have filed claims against broker-dealers to recover investment losses after GWG Holdings, Inc. filed for bankruptcy on April 20, 2022. The claims (including FINRA Case No. 22-00358, 22-00548, and 22-02890) collectively seek to recover approximately $6.5 million. These claims are separate and in addition to the GWG bankruptcy proceeding. The law firm encourages individuals who have purchased L Bonds issued by GWG Holdings, Inc. to contact the firm for a free and confidential consultation to review their potential claims and legal rights.
GWG sold the L Bonds through Emerson Equity LLC and a network of regional broker-dealers and investment advisory firms, who pitched the products to individual retail investors. The network of regional broker-dealers and investment advisory firms who sold L Bonds and shared in the selling commissions included the following financial institutions, as well as other firms:
• Centaurus Financial, Inc.
• Great Point Capital LLC.
• National Securities Corporation.
• Western International Securities, Inc.
• Aegis Capital, LLC.
• Newbridge Securities Corporation.
• Dempsey Lord Smith, LLC.
• Coastal Equities, Inc.
• International Assets Advisory, LLC.
• Arete Wealth Management, LLC.
• Capital Investment Group, Inc.
• Lifemark Securities, Corp.
• Westpark Capital, Inc.
• Ausdal Financial Partners, Inc.
• American Trust Investment Services, Inc.
• Moloney Securities.
• IFP Securities, LLC.
• Center Street Securities.
• Cabot Lodge Securities LLC.
• Kingswood Capital Partners, LLC.
• American Trust Investment Services, Inc.
• SW Financial
• Paulson Investment Company LLC.
• Ages Financial Services, LTD.
• Independence Capital Co., Inc.
• Landolt Securities, Inc.
• Intervest International Equities Corporation.
• Titan Securities.
• NI Advisors.
• JRL Capital Corporation.
• The FIG Group, LLC.
• M Stevens Securities, LLC.
• TFS Securities, Inc.
• Integrity Brokerage, LLC.
• American Equity Investment Corporation.
• Greenberg Financial Group.
• Krilogy.
• New Frontier Wealth Management.
• Brookstone Capital Management LLC.
Brokerage firms and registered investment advisory firms (“RIAs”) must make investment recommendations that are suitable and in the best interest of their customers. GWG’s L Bonds are speculative, high-risk, and illiquid securities sold as alternative investments by firms across the country. The L Bonds were likely unsuitable for investors with a low or moderate risk tolerance or with liquidity needs.
Broker-dealers, RIAs, and financial advisors must also disclose all material facts and risks of a security when making a recommendation. During Iorio Altamirano LLP’s investigation, investors informed the firm that they were unaware that GWG significantly changed its business model beginning in 2018 or that GWG used investor capital to pay out high distributions to other GWG L Bond investors in a Ponzi-like scheme.
When a firm or advisor fails to meet these standards of conduct, they can be held liable for damages.
Iorio Altamirano LLP has published the findings of its investigation into GWG Holdings and continues to urge individuals who purchased L Bonds issued by GWG Holdings, Inc. to contact the firm for a free and confidential consultation.
What Investors Can Do: GWG L Bond investors should contact securities arbitration law firm Iorio Altamirano LLP for a free and confidential consultation. The firm will review the terms of investors’ GWG L Bond investments at no cost. Customers may be entitled to compensation without paying any out-of-pocket fees or costs through a contingency fee arrangement with securities arbitration law firm Iorio Altamirano LLP. To set up an evaluation, email securities arbitration attorneys August Iorio at august@ia-law.com or Jorge Altamirano at jorge@ia-law.com. Alternatively, call the firm toll-free at (855) 430-4010.
About Iorio Altamirano LLP:
Iorio Altamirano LLP is a national securities litigation law firm based in New York, NY. The law firm pursues FINRA arbitration claims nationwide on behalf of investors to recover financial losses arising out of wrongful conduct by financial advisors and brokerage firms.
THIS IS NOT LEGAL ADVICE.
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PRIOR RESULTS DO NOT GUARANTEE A SIMILAR OUTCOME.
August Iorio
Iorio Altamirano LLP
+1 855-430-4010
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