ROCKVILLE, MD, USA, March 15, 2024 /EINPresswire.com/ — National investment loss and securities lawyers KlaymanToskes continues its investigation into financial advisor Suzanne Wheeler after her recommendations of GWG L Bond Investments allegedly caused an investor up to $500,000 in damages. The law firm urges all current and former customers who suffered investment losses in GWG L Bonds with Suzanne Wheeler and/or any other broker/investment advisor, to contact the firm immediately at 888-997-9956.
KlaymanToskes reports that the firm is currently representing a former customer of financial advisor Suzanne Wheeler (CRD# 1107381) who is seeking to recover damages of up to $500,000, in connection with being recommended to invest in unsuitable, illiquid, and high-risk GWG L Bonds.
According to the claim filed, Wheeler overconcentrated 100% of the investor’s retirement savings in GWG’s L Bonds – a highly speculative, illiquid private placement investment. As the GWG L Bonds were illiquid and unlisted, there were significant risks that were not disclosed to the customer. In January 2022, GWG stopped paying interest and principal payments to bondholders, and in April 2022 GWG Holdings, Inc. filed for Chapter 11 bankruptcy (Case No. 22-90032), suspending their monthly dividends and leaving investors without access to their principal.
Suzanne Wheeler was previously registered with Coastal Equities, Inc. and Coastal Investment Advisors from February 2018 to August 2019 in Rockville, MD. Wheeler is currently registered with Arkadios Capital and Arkadios Wealth Advisors in Olney, MD.
Financial advisors and their firms are responsible for providing suitable investment advice and must act in the best interest of their customers. Investment firms may be held liable for any losses incurred by their customers in the event of unsuitable investment recommendations, misrepresentations or omissions of material facts, and/or an overconcentration of the customer’s portfolio in one particular investment, class, or market sector.
KlaymanToskes is a leading law firm whose sole focus is in the area of securities arbitration and litigation. The firm has represented thousands of brokerage clients throughout the world that maintained accounts with U.S. brokerage firms, resulting in the recovery of over $250 million in FINRA arbitration cases.
Current and former customers of Suzanne Wheeler who suffered investment losses at Coastal Equities and/or Arkadios Capital are encouraged to contact attorney Lawrence L. Klayman at 888-997-9956 or by email at lawrence@klaymantoskes.com in furtherance of our investigation.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Contact
Lawrence L. Klayman, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
lawrence@klaymantoskes.com