GWG Investment Loss Recovery Lawyers

Texas Couple Sues Independent Financial Group Over GWG L Bond Losses. Our GWG Investment Loss Recovery Lawyers Are Representing These Claimants In Their Six-Figure FINRA Lawsuit

Another two investors who suffered serious losses in GWG Holdings are filing a broker-dealer misconduct case. The claimants, two Texas investors, are seeking up to $500K in damages from Independent Financial Group. Shepherd Smith Edwards and Kantas (investorlawyers.com) is representing this older couple. From the start, they had made it clear to their broker that, given their ages, they did not want to take on any undue risks.

Despite their wishes, then-Independent Financial Group broker Justin Kyle McIntyre allegedly unsuitably recommended GWG L Bonds, which are illiquid junk bonds, as well as other illiquid non-traded products to them. These investments tend to pay financial advisors huge commissions but they are rarely in their customers’ best interests.

McIntyre, who works out of Utah and is no longer with this broker-dealer, is now a Cetera Advisors Network broker. He has worked at seven firms in the last 9 years.

In their FINRA arbitration claim, these Texas investors are alleging unsuitability, misrepresentations and omissions, overconcentration, negligence, gross negligence, breach of contract, breach of fiduciary duty, and other kinds of broker misconduct.

GWG, which filed for bankruptcy protection in 2022, is accused of operating a more than $1.6B Ponzi scam. Many thousands of investors, a lot of them seniors and retirees, have sustained significant losses in what they were allegedly misled to believe was a safe, low-risk investing opportunity.

Our L Bond loss recovery lawyers are representing many of these investors against the regional broker-dealers that sold GWG investments to customers. According to a FINRA arbitrator who recently awarded one GWG L Bond investor nearly $100K against Greenberg Financial Group and its broker David Sherwood, these high-risk junk bonds are likely unsuitable for everyone. Even though the alternative asset firm was exhibiting financial problems for a long time, that didn’t stop financial advisors from pushing L Bonds to customers.

GWG Investment Loss Recovery Lawyers Who Are Highly Knowledgeable About How To Hold Stockbrokers Liable

If you are an L Bond investor who is hoping to recoup your losses through the bankruptcy case, know that you could be waiting a very long time—and any money coming from those proceedings could be minimal or even nil. What you can do, however, is to speak to Shepherd Smith Edwards and Kantas so that we can determine whether you have grounds for a claim against your broker-dealer who promoted GWG to you.

Should we agree to work together, know that you will be represented by all of our seasoned securities lawyers. You will become part of our unit of GWG fraud lawsuits that we continue to file in FINRA arbitration. This is the legal forum where disputes between customers and brokerage firms are generally made.

This is not the type of claim that you want to make without skilled broker misconduct attorneys by your side. More than 90% of our clients have received full or partial financial recovery through our hard work and dedication.

How To Contact Our GWG Investment Loss Recovery Lawyers
Call (800) 259-9010 today or fill out this form to schedule your free, initial case assessment.