Illinois Couple Sue Ausdal Financial Partners Over GWG L Bond And Non-Traded REIT Losses
High Commissions Paid To Brokers May Have Compelled Them to Disregard Investors’ Best Interests
Shepherd Smith Edwards and Kantas (investorlawyers.com) are representing two investors in their broker fraud lawsuit against Ausdal Financial Partners. The claimants suffered losses in GWG L Bonds, the non-traded real estate investment trust (non-traded REIT) Moody National REIT, and business development company (BDC) Greenbacker Renewable Energy. These were alternative investments that were unsuitable for conservative investors seeking to get ready for retirement.
Our clients met Ausdal Financial broker Wilfredo Raul Miranda III through a free retirement planning seminar focused on helping retirees and pre-retirees preserve their capital and maintain their wealth.
From the beginning, these Illinois investors made it clear that they were not seeking to take on undue risk. Yet their financial advisor allegedly went on to unsuitably recommend risky investments.
Miranda also allegedly did not offer full disclosure about the risks involving GWG junk bonds. GWG Holdings is now accused of running a more than $1.6B Ponzi scam.
In their FINRA lawsuit against Ausdal Financial Partners, these claimants allege unsuitability, misrepresentations and omissions, negligence, gross negligence, breach of fiduciary duty, breach of contract, vicarious liability, and more.
Representing Retirees and Pre-retirees Against Broker-Dealers
For over 30 years, Shepherd Smith Edwards and Kantas have represented retirees, seniors, pre-retirees, and elderly investors against negligent and fraudulent financial advisors. We know how hard you have worked to grow and preserve your life savings. We understand the devastating consequences that can result when you lose your retirement money because a broker-dealer was careless or reckless with your money.
Many of us used to be brokers but we left the industry because of the unsavory practices we witnessed. We know how to harness our skills and knowledge to fight for investors in recouping the damages they are owed from broker-dealers and investment advisers.
Unfortunately, there are financial advisors who will take advantage of older investors by unsuitably recommending too risky investments that pay high sales commissions. There are also bad brokers who commit elder financial abuse.
We know that taking preemptive measures is important, which is why we have partnered with McCulloch & Miller, which offers estate planning, asset protection, and elder law services.
When you work with our Elderly Investor Fraud Attorney Firm Teams, you can trust that you will receive seasoned representation and personalized attention. We have dedicated our entire law practice to protecting and fighting for investors.
Over the decades, more than 90% of our clients have received full or partial financial recovery through the dedication and hard work of our elderly investor fraud attorney teams.
Contact Us Today:
Call our Elderly Investor Fraud Attorney Firm at (800) 259-9010 or fill out this form.