GWG Holdings Inc. (OTCMKTS:GWGHQ)
SUNNYVALE, CA, USA, September 13, 2023/EINPresswire.com/ — National investment loss lawyers KlaymanToskes encourages customers of Ni Advisors who suffered investment losses in GWG L Bonds with Peter Po and/or any other financial advisor to contact the firm immediately at 888-997-9956.
KlaymanToskes reports the firm has filed a FINRA arbitration claim (no. 23-02392) against Ni Advisors and broker/investment advisor Peter Tinchu Po on the behalf of two Chinese immigrants who lost their life savings and retirement funds due to being recommended to invest in unsuitable alternative investments known as GWG L Bonds.
The customers sought safe and low risk investments that would provide stable income and minimal risk to their savings. Po made false and misleading representations that the L Bonds had no risk and high interest. He also misrepresented to the customers that they would get back all of their principal with interest once the company went public.
In January 2022, GWG stopped paying interest and principal payments to bondholders. Shortly thereafter in April 2022, GWG Holdings, Inc. filed for Chapter 11 bankruptcy. Upon hearing of GWG’s bankruptcy, the customers each separately contacted Po. However, Po further misled the customers and continued to misrepresent that the investments were fine and that the customers would get their principal back.
The customers remain concerned about supporting themselves throughout their retirement years due to no longer receiving interest payments from the bonds and no longer having access to their principal investment. The claim seeks to recover damages of over $100,000 against Ni Advisors and Peter Po for unsuitable investment recommendations, failure to act in the “best interest” of the customers, misrepresentations and omissions, breach of fiduciary duty, breach of contract, failure to supervise, negligence and violation of the federal securities laws.
GWG L Bondholders who suffered losses at Ni Advisors with Peter Po and/or any other financial advisor, are encouraged to contact attorney Lawrence L. Klayman, Esq. at (888) 997-9956 or lawrence@klaymantoskes.com for a free and confidential consultation to discuss legal options. 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.
Contact
Lawrence L. Klayman, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
lawrence@klaymantoskes.com