December 11, 2024/Los Angeles, CA/ National investment loss and securities attorneys KlaymanToskes continues investigating Emerson Equity and financial advisor Tony Barouti, after their recommendations of GWG L Bond investments caused two investors $281,000 in damages. The law firm urges all current and former customers of Tony Barouti and Emerson Equity who suffered investment losses in GWG L Bonds, or any other investments, to contact the firm immediately at 888-997-9956.
KlaymanToskes reports the firm has filed a FINRA arbitration claim (Case no. 24-01842) against Emerson Equity on the behalf of two investors who are seeking to recover damages of $281,000, in connection with being recommended to invest in unsuitable and illiquid GWG L Bond investments by their financial advisor, Tony Barouti (CRD# 3031995).
According to the claim filed by KlaymanToskes, the customers reportedly first heard of the GWG L Bonds through a radio show on their local Persian channel, wherein Barouti advertised the L Bonds as a great investment for an investor seeking income and safety of their principal. In meeting with Barouti, the customers emphasized that they were seeking to invest in safe, low risk investments. Instead, Barouti, through Emerson Equity, recommended that the customers invest in the high-risk and illiquid GWG L Bonds.
The law firm’s investigation found that Emerson Equity, as the managing broker-dealer for GWG’s offering, had a conflict of interest in the sale of the L Bonds, as the firm and its representatives received commissions ranging from 0.75% to 5.00% of the principal amount of L Bonds sold, depending on the L Bonds’ maturity date, as well as other forms of compensation.
KlaymanToskes believes bondholders’ ideal option to maximize their recovery of losses is through the filing of a FINRA arbitration claim. The law firm is currently representing many GWG L Bondholders throughout the nation in FINRA arbitration claims against the brokerage firms and financial advisors that recommended the speculative L Bonds.
Current and former customers of Tony Barouti and/or any other financial advisor who suffered investment losses in GWG L Bonds are encouraged to contact attorney Steven D. Toskes, Esq. at (888) 997-9956 or by email at investigations@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
KlaymanToskes, P.A.
Steven D. Toskes, Esq.
888-997-9956
investigations@klaymantoskes.com
www.klaymantoskes.com