Articles Posted in Firm Investigations

**Update: April 20, 2022** GWG Holdings, Inc. has filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Southern District of Texas. As a result of the bankruptcy filing, all accrued principal and interest payment obligations owed to GWG L Bond investors have been halted as the case proceeds through bankruptcy…

**Update: April 20, 2022** GWG Holdings, Inc. has filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Southern District of Texas. As a result of the bankruptcy filing, all accrued principal and interest payment obligations owed to GWG L Bond investors have been halted as the case proceeds through bankruptcy…

New York securities arbitration law firm Iorio Altamirano LLP is investigating the sales practices of broker Mark Williams connected with his recommendation of L Bonds issued by GWG Holdings, Inc. to senior and elderly customers. From November 2015 until March 2021, Mr. Williams was registered as a broker with Centaurus Financial, Inc. in Carmel, CA.…

Investor advocate law firm Iorio Altamirano LLP is investigating potential securities arbitration claims against Centaurus Financial, Inc. for its sale of L Bonds issued by GWG Holdings, Inc. Upon information and belief, Centaurus Financial, Inc. was a part of Emerson Equity LLC’s network of broker-dealers who sold the speculative, high-risk, and illiquid “L Bonds” issued…

Prominent securities arbitration law firm Iorio Altamirano LLP is investigating the sales practices of broker Tony Barouti connected with his recommendation of L Bonds issued by GWG Holdings, Inc. to senior and elderly customers. Mr. Barouti is registered as a broker with Emerson Equity LLC in Los Angeles, CA, and is the CEO of Barouti…

New York securities arbitration law firm Iorio Altamirano LLP is investigating potential securities arbitration claims against Emerson Equity LLC and its network of broker-dealers for their sale of L Bonds issued by GWG Holdings, Inc. (Nasdaq: GWGH). On January 15, 2022, GWG Holdings Inc., a company known for selling life-insurance bonds, missed interest and principal…

**Update: April 20, 2022** GWG Holdings, Inc. has filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Southern District of Texas. As a result of the bankruptcy filing, all accrued principal and interest payment obligations owed to GWG L Bond investors have been halted as the case proceeds through bankruptcy…

David Gentile, the disgraced founder and former CEO of GPB Capital Holdings LLC, has sued GPB Capital. Mr. Gentile seeks to make GPB Capital, which an independent court-appointed monitor is now overseeing, cover the legal costs for his defense against criminal and civil securities fraud. In February 2021, Mr. Gentile was criminally charged with securities…

FINRA has barred former Cambria Capital, LLC broker Steven Musielski from the securities industry. Musielski consented to the sanction and to the entry of findings that he refused to provide documents and information requested by FINRA in connection with an investigation into his sales practice activity. The FINRA findings stated that the request sought to…

Over the past calendar year, GPB Capital investors have won over $2.4 million in monetary awards in 10 out of 11 (nearly 91%) arbitration claims that have proceeded to a final hearing. According to public records, many other claims filed against broker-dealers who sold the private placements offered by GPB Capital have been settled for…