NEW YORK, NY, USA, January 11, 2024 /EINPresswire.com/ — National investment loss attorneys KlaymanToskes reports the firm’s continued investigation of Centaurus Financial, following the filing of a $500,000 FINRA Arbitration claim on behalf of a GWG L Bond investor seeking to recover investment losses. Customers of Centaurus Financial who have suffered investment losses due to GWG L Bonds should contact the firm immediately at 888-997-9956 to discuss recovery options.
KlaymanToskes recently filed a FINRA arbitration claim (no. 23-00723) against Centaurus Financial and financial advisor Gregory J. Richards (CRD# 1339012), on the behalf of an investor who is seeking to recover damages of up to $500,000, in connection with being recommended to invest in unsuitable alternative investments including illiquid GWG L Bonds and various Real Estate Investment Trusts (REITs).
In April 2022, GWG Holdings, Inc. filed for bankruptcy, suspending their monthly dividends and leaving investors without access to their principal. The GWG L Bonds were canceled in August 2023, and L Bondholders were issued “Interests” in the Wind Down Trust. The value of the Interests and timeline for the bankruptcy’s resolution remain uncertain.
The L bonds were marketed by many brokerage firms, including Centaurus Financial, as safe and low-risk investments that were instead illiquid, high-risk, and speculative. Financial professionals and their firms can be held accountable for investment losses incurred by customers if the investment was unsuitable for the customer’s risk tolerance and objectives, or if they misrepresented the nature of the investment.
It is KlaymanToskes’ opinion that the L Bondholders will NOT likely obtain a significant recovery from the bankruptcy proceeding and what they do receive will take significant time to recover. The law firm encourages bondholders to maximize their recovery of losses by filing FINRA arbitration claims against the brokerage firms and financial advisors who sold these illiquid investments, such as Centaurus Financial.
GWG L Bondholders who suffered losses at Centaurus Financial and/or any other brokerage firm, 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