GWG L Bond Losses with Joseph Beam/Capital Investment Group? Contact KlaymanToskes Immediately

RALEIGH, NC, USA, May 9, 2024 /EINPresswire.com/ -- National investment loss and securities attorneys KlaymanToskes is investigating Capital Investment Group and financial advisor Joseph Beam, after his recommendations of GWG L Bond investments caused an investor $400,000 in damages. The law firm urges all current and former customers of Joseph Beam and Capital Investment Group who suffered investment losses in GWG L Bonds, or any other investments, to contact the firm immediately at 888-997-9956.

KlaymanToskes reports the law firm has filed a FINRA arbitration claim (no. 24-00838) against Capital Investment Group on the behalf of an investor who is seeking to recover $400,000 in investment losses, in connection with being recommended to invest in unsuitable and illiquid GWG L Bond investments by their financial advisor, Joseph Beam (CRD# 5407778).

According to the lawsuit filed by KlaymanToskes, the customer is a retired and unsophisticated investor who sought a safe, conservative, fixed income investment that would provide income and safety of principal. The customer entrusted Beam and Capital Investment Group with making suitable investment recommendations that were in her best interest. Instead, as the GWG L Bonds were illiquid and unlisted, there were significant risks that were not disclosed to the customer.

In April 2022, GWG Holdings, Inc. filed for bankruptcy, suspending their monthly dividends and leaving investors without access to their principal. GWG L bondholders are owed over $1.3 billion, however, GWG’s ability to monetize its assets remains highly uncertain and unlikely.

Most recently, on January 29, 2024, financials were filed with the bankruptcy court by the GWG Wind Down Trustee which confirmed that L bondholders will only receive a small fraction of their investments from the bankruptcy. Accordingly, it is in bondholders’ best legal interest to maximize their recovery of losses by filing FINRA arbitration claims against the brokerage firms and financial advisors who sold these unsuitable products, such as Capital Investment Group.

Current and former customers of Capital Investment Group who suffered investment losses in GWG L Bonds with Joseph Beam and/or any other financial advisor are encouraged to contact attorney Steven D. Toskes, Esq. at (888) 997-9956 or by email at investigations@klaymantoskes.com in furtherance of our investigation.

About KlaymanToskes

KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.

Contact

Steven D. Toskes, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
investigations@klaymantoskes.com

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