New Orleans Securities Law Office

Louisiana Investor Files Six-Figure GWG Lawsuit Against Centaurus Financial 

The Claimant Alleges Unsuitability, Misrepresentations and Omissions

Our New Orleans GWG L Bond fraud lawyers are representing a Metairie, LA investor in her investment loss recovery claim against Centaurus Financial. Our client, who is a divorced single mom, contends that her Centaurus broker Seyed Ahmad Hashemian unsuitably recommended the risky, illiquid GWG bonds even though she is an inexperienced investor who made it clear from the start that she wanted to avoid undue risks.

GWG Holdings is now accused of running a more than $1.6B Ponzi scam. Thousands of investors have sustained significant losses in its L Bonds, which they thought were life settlement-backed bonds and may now be worthless.

In her L Bond loss case, this plaintiff contends that her Centaurus financial advisor misused the trust placed in him and allegedly breached his fiduciary duty that he owed her by disregarding her needs and wishes. The only purported motivation for recommending this highly speculative alternative investment to this unsophisticated investor appears to be the high commissions that Centaurus Financial could earn since this clearly was an unsuitable investment recommendation. Not only that, but Centaurus allegedly did not have the appropriate compliance apparatus required to properly supervise Hashemian.

According to his CRD, Seyed Hashemian, who has worked in the industry for 37 years, has been a Centaurus broker and investment adviser since 2009. His record shows 13 disclosures, including a number of customer disputes, some of which have resulted in settlements and one arbitration award. He was fired by First Allied Securities in 2009 for allegedly sharing commissions with unaffiliated persons. He was discharged by New York Life Insurance in 1996 following a customer complaint.

Shepherd Smith Edwards and Kantas (investorlawyers.com) is currently representing dozens of L Bond investors against many of the regional broker-dealers that breached their fiduciary duty to investors by marketing this high-risk investment that may now be fraudulent.  From our many law offices across the United States, we work with retail investors, high-net-worth investors, institutional investors, and ultra-high-net worth investors.

While elderly investors, seniors, and inexperienced investors have been the hardest hit—especially after GWG declared bankruptcy in 2022—one arbitrator in a GWG case last year declared that the bonds were an unsuitable recommendation for “perhaps anyone.” That arbitrator ordered broker-dealer Greenberg Financial Group and its financial advisor David Michael Sherwood to pay a claimant $102K for their losses.

Why Hire Our Seasoned L Bond Loss Recovery Lawyers To Represent You Against Centaurus 

This latest investment recovery case is not the first GWG fraud lawsuit we have brought against Centaurus. We are currently representing a number of investors who are part of our unit of lawsuits against this firm. Trust us when we say that it is a benefit to work with a law firm that is well-versed in how L Bonds failed and why Centaurus should be held liable.

With over a century’s worth of combined experience in securities law and the securities industry, we represent investors with even the most complex claims against broker-dealers and investment advisers. More than 90% of our clients have received full or partial financial recovery due to our skilled efforts and collaboration with them.

New Orleans Securities Law Office

Throughout the US, (800) 259-9010 today. In Louisiana,  you can contact us at our New Orleans securities law office in Metairie.