DENVER, May 17, 2022 (GLOBE NEWSWIRE) -- The investment fraud and securities arbitration law firm of Israels & Neuman, PLC announces that it has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim for investor losses in the GWG L Bonds. The claim was filed against Cabot Lodge Securities on behalf of a retiree who invested at the recommendation of a Denver-based financial advisor. The claim was filed in Denver, Colorado.
GWG L Bonds were investments in life insurance products. According to the FINRA complaint, GWG’s strategy was to purchase a portfolio of life insurance policies at discounts from the face values of the policies; then when an insured died, GWG would get the proceeds of the life insurance policy and the proceeds would be paid indirectly to the GWG bondholders. Since the policies were bought at discounts of the face values, there were expectations of making profits from the policies.
However, the GWG investments carried significant risk. GWG failed to pay interest to investors in January 2022, and it ultimately filed for bankruptcy in April 2022. Unbeknownst to investors, GWG had been under investigation by the SEC since October 2020.
Israels & Neuman, PLC is a securities arbitration and investment fraud law firm with offices in Denver, Colorado, among others. We represent investors all over the country and have spoken to several investors who lost money investing in the GWG L Bonds.
If you or someone you know has lost money investing in GWG, please contact Israels & Neuman for a free case evaluation. Our experienced attorneys will personally discuss all of your rights as an investor and the remedies you have related to investment or securities losses. For more information, CONTACT ISRAELS & NEUMAN at (720) 599-3505 or visit us at www.israelsneuman.com.
Israels & Neuman, PLC
Phone: (720) 599-3505
Fax: (720) 230-5455
Email Aaron Israels: aaron@israelsneuman.com
Email David Neuman: dave@israelsneuman.com
Website: www.israelsneuman.com
