National investment loss lawyers KlaymanToskes is investigating broker Greg McCloskey (CRD# 2820510) of Westpark Capital, Inc.
According to FINRA BrokerCheck, broker Greg McCloskey is currently involved in several customer complaints alleging unsuitable recommendations to invest in GWG L Bonds and $449,000 in collective investor damages. McCloskey was permanently barred by FINRA in 2021 due to allegations that he participated in two undisclosed private securities transactions involving a customer.
In April 2022, GWG Holdings, Inc. filed for bankruptcy, suspending their monthly dividends and leaving investors without access to their principal. Most recently, on January 29, 2024, financials were filed with the bankruptcy court by the GWG Wind Down Trustee which confirmed that L bondholders will only receive a small fraction of their investments from the bankruptcy.
Accordingly, it is in bondholders’ best legal interest to maximize their recovery of losses by filing FINRA arbitration claims against the brokerage firms and financial advisors who sold these unsuitable products, such as Westpark Capital.
Investors that suffered losses with broker Greg McCloskey are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Financial advisor Greg McCloskey, formerly of Westpark Capital Inc., is currently facing several customer complaints alleging unsuitable recommendations to invest in GWG L Bonds. The customers allege $449,000 in collective investor damages. McCloskey was permanently barred from acting as a broker by FINRA in April 2021, in connection with findings that he allegedly participated in two undisclosed private securities transactions involving a customer, and then sought to conceal the transactions from his member firms and FINRA. According to FINRA BrokerCheck, broker Greg McCloskey was employed with Westpark Capital from July 2016 to November 2019 in Newport Beach, CA.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against your financial advisor. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Greg McCloskey, or have concerns regarding your investment portfolio at Westpark Capital Inc., or with any other financial advisor or firm, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.