Articles Posted in Bonds

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Broker-Dealers Sold GWG L Bonds Using Aggressive and Misleading Marketing 

In a court filing made on December 15, 2022, in the Chapter 11 bankruptcy court, the Official Committee of Bondholders of GWG Holdings Inc. (“Bondholder Committee”) alleged that broker-dealers sold GWG L Bonds using aggressive and misleading marketing even after it became clear that GWG’s business was failing and that…

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SEC Finds That Some Broker-Dealers Are Using Outdated, Incomplete, and Inaccurate Risk Disclosures

On January 30, 2023, the United States Securities and Exchange Commission (“SEC”) published a Risk Alert including its observations from Broker-Dealer Examinations Related to Regulation Best Interest (“Reg BI”).  The risk alert highlights deficiencies observed during regulatory examinations, as well as weak practices by broker-dealers that could result in deficiencies.…

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“GWG Was a Classic Ponzi Scheme” – Official Committee of Bondholders of GWG Holdings, Inc.

**Update: February 1, 2023** On February 1, 2023, the United States Bankruptcy Court for the Southern District of Texas unsealed several significant court filings, including a draft legal complaint.  The complaint was filed by the Official Committee of Bondholders of GWG Holdings Inc. (“Bondholder Committee”) against certain current and/or former…

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GWG Bankruptcy Update: Questions Remain as to When, or If, GWG L Bond Investors Will Receive Future Distributions

For the latest on Iorio Altamirano LLP’s investigation of GWG L Bonds, please see our most recent blog posts: Broker-Dealers Sold GWG L Bonds Using Aggressive and Misleading Marketing “GWG Was a Classic Ponzi Scheme” – Official Committee of Bondholders of GWG Holdings, Inc. GWG Bankruptcy Update: Questions Remain as…

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Western International Securities Denies Violating Regulation Best Interest in Recommending and Selling Risky and Illiquid GWG L Bonds to Retail Investors

On September 14, 2022, Western International Securities, Inc. filed its Answer to the Securities and Exchange Commission’s Complaint denying that the firm violated the standards under Regulation Best Interest (“Reg BI”) in approving, recommending, and supervising the sale of speculative, high-risk, and illiquid L Bonds issued by GWG Holdings, Inc.…

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Law Firm Iorio Altamirano LLP Investigating the Sale of GWG L Bonds by Mark Williams, Formerly of Centaurus Financial, Inc.  

New York securities arbitration law firm Iorio Altamirano LLP is investigating the sales practices of broker Mark Williams connected with his recommendation of L Bonds issued by GWG Holdings, Inc. to senior and elderly customers. From November 2015 until March 2021, Mr. Williams was registered as a broker with Centaurus…

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Investor Alert: Law Firm Iorio Altamirano LLP Investigates the Sale of L Bonds by Centaurus Financial, Inc.

Investor advocate law firm Iorio Altamirano LLP is investigating potential securities arbitration claims against Centaurus Financial, Inc. for its sale of L Bonds issued by GWG Holdings, Inc. Upon information and belief, Centaurus Financial, Inc. was a part of Emerson Equity LLC’s network of broker-dealers who sold the speculative, high-risk,…

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Investor Alert:  Law Firm Iorio Altamirano LLP Investigates the Sale of L Bonds by Emerson Equity LLC

New York securities arbitration law firm Iorio Altamirano LLP is investigating potential securities arbitration claims against Emerson Equity LLC and its network of broker-dealers for their sale of L Bonds issued by GWG Holdings, Inc. (Nasdaq: GWGH). On January 15, 2022, GWG Holdings Inc., a company known for selling life-insurance…

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Investors Worried After GWG Holdings Inc.’s “L Bonds” Missed Interest Payments on January 15, 2022

**Update:  April 20, 2022** GWG Holdings, Inc. has filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Southern District of Texas.  As a result of the bankruptcy filing, all accrued principal and interest payment obligations owed to GWG L Bond investors have been halted as…

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Iorio Altamirano LLP Investigates L Bonds offered by GWG Holdings (GWGH)

Iorio Altamirano LLP is investigating potential claims involving investments in L Bonds offered by GWG Holdings (Nasdaq: GWGH). On July 26, 2021, GWG Holdings canceled its Combined 2020/2021 Annual Meeting of Stockholders originally convened and adjourned on May 28, 2021. Prior to this cancellation, on July 7, 2021, Nasdaq warned…

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