Linda Jill Wimsatt: Over $125k in GWG L Bond Customer Complaints

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Updated on: March 24, 2023

Linda Jill Wimsatt investment losses

Losses With Linda Wimsatt at American Trust Investment Services or Chicago Capital Management? Contact KlaymanToskes

National investment fraud lawyers KlaymanToskes continues its investigation of LINDA JILL WIMSATT (CRD# 1401802) of American Trust Investment Services and Chicago Capital Management following the filing of three pending customer complaints alleging over $125,000 in damages due to unsuitable GWG L Bond investments

KlaymanToskes has been contacted by customers of Linda Wimsatt in connection with losses in GWG L Bonds. Investors that suffered losses due to investment recommendations from Linda Wimsatt may be entitled to a financial recovery. Contact attorney Lawrence L. Klayman, Esq. at (888) 997-9956 or lklayman@klaymantoskes.com for a free consultation to discuss recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery.

Linda Wimsatt: Over $125k in Unsuitable GWG L Bond Complaints

According to FINRA BrokerCheck, Linda Jill Wimsatt is currently registered as a broker with American Trust Investment Services and as an investment advisor with Chicago Capital Management in Carlsbad, CA. Wimsatt with has previously been registered with the following brokerage/investment advisory firms: 

  • Westpark Capital, Inc. in 2020 in Carlsbad, CA (Investment Advisor)
  • Westpark Capital, Inc. from 2017 to 2020 in Carlsbad, CA (Stockbroker)
  • Delta Investment Management, LLC from 2018 to 2019 in Carlsbad, CA (Advisor)
  • VFG Advisors, Inc. from 2014 to 2018 in Vista, CA (Investment Advisor)
  • VFG Securities, Inc. from 2014 to 2017 in Carlsbad, CA (Stockbroker)

Linda Jill Wimsatt has five public disclosures on her FINRA BrokerCheck profile, including three pending customer complaints, a complaint settled in favor of the investor, and a civil judgment/lien. Wimsatt’s most recent pending complaint was filed on January 18th, 2023 and alleges Wimsatt recommended that the customer invest in a high-risk, high-commission, unsuitable and illiquid alternative investment, namely GWG. The investor alleges $25,000 in damages.

A second pending complaint filed on October 4th, 2022 alleges Wimsatt misrepresented GWG L Bonds and further alleges unsuitable investment recommendations. The investor alleges damages of $100,001. Wimsatt’s final pending complaint, also filed on October 4th, 2022, alleges that GWG L Bonds were misrepresented to the investor and were not suitable for the investor’s investment objectives. The investor did not specify alleged damages, but it has been to be determined to be greater than $5,000. 

In a settled complaint naming Wimsatt, the investor alleged that she was not informed of the liquidity risk of her REIT investment and that the amount invested was not suitable. The complaint was settled in favor of the investor for $12,000.

GWG L Bond Investor Alert: High-Risk Alternative Investments

Although GWG Holdings, Inc. filed for chapter 11 bankruptcy in April, 2022, investors may still pursue individual FINRA arbitration claims against the financial advisors and firms who sold unsuitable and illiquid GWG L Bonds to their customers. Investors are encouraged to learn more about GWG L Bond Investment Recovery Options.

KlaymanToskes is currently representing many investors across the country who sustained damages in GWG L Bonds, including an 82-year-old widow seeking to recover over $220,000 in damages sustained in GWG L Bonds in FINRA arbitration case no. 22-01932 against Intervest International broker/advisor Craig Lee Carson.

Investors that suffered losses in GWG L Bonds at the hands of their full-service brokerage firm and/or broker/advisor are encouraged to contact attorney Lawrence L. Klayman, Esq. for a free consultation at (888) 997-9956 or lklayman@klaymantoskes.com to discuss legal options. Every case is taken on a contingency basis, meaning we do not collect attorney’s fees unless we are able to obtain a financial recovery for you.

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.


KlaymanToskes, P.A.

Lawrence L. Klayman, Esq.