Centaurus Financial & GWG L-Bonds Losses?

Centaurus Financial & GWG L-Bonds Losses?

Centaurus Financial & GWG L-Bonds Losses? 150 150 Robert Rex, Esq.

Losses on GWG L-Bonds Purchased From Centaurus Financial?  

As we have previously posted, see link ( GWG L-Bonds. We can help ), given the fact that GWG Holdings has recently filed for bankruptcy protection and distributions on the GWG L-Bonds have been suspended, the future for this investment is uncertain and grim.

GWG L-Bond- High Risk-Speculative-Illiquid

Did you know that?

Unless your investment professional made it clear to you that these investments were high risk, speculative, illiquid and subject to the complete loss of your investment, you have a very viable claim for recovery of damages from the firm that sold the investment to you.

As Red Flags Were Flying Centaurus Financial Boosted

GWG L-Bond Sales

Centaurus Financial is one of the 150 or so brokerage firms that sold GWG L-Bonds to the investing public. Recent press reports that in April 2020 Centaurus increased the maximum cap from $100,000 to $150,000, or no more than 10% of the customer’s net worth, excluding primary residence, whichever was lower. In 2019 GWG had advised the SEC and the general public in regulatory filings it would not be able to file quarterly and annual financials on time. When it eventually filed the annual report in March 2020, GWG advised that there were numerous material weaknesses, including concern over being able to service $1.6  billion in debt due June 2020.

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