National investment loss lawyers KlaymanToskes continues its investigation of unsuitable GWG L Bond investments after Dennis P. Thurman (CRD# 2342398) of Arete Wealth Management received an investor complaint alleging $100,000 in investor damages due to unsuitable investment recommendations in GWG Holdings, Inc.
Investors that suffered losses with Dennis Thurman or any other financial advisor at Arete Wealth Management are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956, or lklayman@klaymantoskes.com to discuss their recovery options.
According to FINRA BrokerCheck, Dennis Patrick Thurman has one pending investor complaint alleging unsuitable investment recommendations in 2019. The complaint alleges investor damages of $100,000 and was filed on October 21st 2022. Thurman’s broker comment states the investment recommendations were in GWG L Bonds with a seven year offering term.
Additional public disclosures on Thurman’s FINRA BrokerCheck profile include two settled investor complaints and two tax liens. The most recent of the two investor complaints settled for $1,780,000 and alleged fraud, misrepresentation, negligence, breach of contract, breach of fiduciary duty, and other securities law violations regarding a speculative ethanol production venture called Range Fuels.
Thurman’s final investor complaint settled for $94,000 and alleged fraud, misrepresentation, negligence, breach of contract, breach of fiduciary duty, and other securities law violations regarding IMH Financial Corp. mortgage loan investment recommendations. The broker’s two tax lien disclosures are in the total amount of $116,175.
KlaymanToskes is currently representing investors throughout the country in the pursuit of recoveries of their investment losses. GWG L bonds were marketed as safe and low-risk investments that were instead unrated, illiquid, high risk, and speculative. GWG Holdings, Inc. disclosed on the second page of its 2020 Prospectus, “L Bonds are only suitable for persons with substantial financial resources and with no need for liquidity in this investment.”
Investors are encouraged to learn more about GWG L Bond Investment Recovery Options and contact investment loss attorney Lawrence L. Klayman at (888) 997-9956 or lklayman@klaymantoskes.com for a free and confidential consultation. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
KlaymanToskes has filed a related FINRA arbitration claim (Case No. 22-01932) against Craig Lee Carson (CRD# 41892), on the behalf of an 82-year-old widow seeking to recover over $220,000 in damages sustained in GWG Holdings, Inc. (OTCMKTS: GWGHQ) L Bonds.
To learn more about this case read our blog post: “Intervest International Broker Craig Lee Carson Resigns Following Allegations of Over $10 Million in Damages to Customers”
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration 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.
Lawrence L. Klayman, Esq.
888-997-9956