On April 2, 2025, the GWG Wind Down Trust filed its status report with the United States Bankruptcy Court for the Southern District of Texas, providing crucial updates for GWG L Bond investors. This report details the Trust’s activities for the quarter and year ending December 31, 2024, revealing that…
**Updated: April 8, 2025** According to court filings, the GWG Litigation Trustee estimates that approximately $59.8 million of the $91.3 million in proposed settlements would be distributed to the GWG Wind Down Trust. The settlements require court approval. The $59.8 million in estimated net settlement proceeds represents about 3.69% of…
On March 7, 2025, the Securities and Exchange Commission (SEC) announced settled charges against Momentum Advisors LLC, a New York-based registered investment advisory firm, along with its former managing partner Allan J. Boomer and former chief operating officer Tiffany L. Hawkins. The SEC’s orders detail serious breaches of fiduciary duty,…
If you’re a GWG L Bond investor, the past few years have likely been a rollercoaster of frustration and uncertainty. The bankruptcy of GWG Holdings, Inc. in 2022 left thousands of investors—many of whom are retirees or conservative savers—reeling from significant financial losses. At Iorio Altamirano LLP, we’ve been fighting…
On February 28, 2025, a FINRA arbitration panel delivered a staggering $92 million award against UBS Financial Services, Inc. and its broker, Andrew Burish, marking one of the largest investor victories in recent memory. The case, FINRA No. 21-00488, involved nine claimants who alleged that UBS and Burish mismanaged their…
Notice to GPB Capital Investors: Iorio Altamirano LLP Continues to Investigate The Sale of GPB Capital Private Placement Offerings to Retail Investors A federal grand jury found GPB Capital Holdings co-founders David Gentile and Jeffry Schneider guilty of fraud. The charges are related to their management of the company, which…
What You Need to Know: On July 31, 2024, the SEC announced that it had reached an agreement with Western International Securities and five of its registered representatives to settle an ongoing lawsuit arising out of the sale of high-risk and speculative L Bonds issued by the now-bankrupt GWG Holdings,…
In recent court filings, Emerson Equity LLC has disclosed that it has paid over $2.1 million in attorney fees and arbitration costs through January 1, 2024, to defend itself from more than 60 customer complaints related to its sale of GWG L Bonds. In addition, according to public disclosure reports…
Iorio Altamirano LLP and its experienced GWG Holdings L Bonds attorneys, representing retail investors nationwide, continue to investigate and file claims against Ausdal Financial Partners, Inc. for its sale of speculative, high-risk, illiquid, high-commission, and unrated GWG L Bonds to retail investors. The law firm’s investigation is ongoing after three…
On February 15, 2024, the GWG Wind Down Trust filed a status report with the United States Bankruptcy Court for the Southern District of Texas for the quarter ending December 31, 2023. Although the status report did not include an updated financial statement, there are several key takeaways: The GWG…