Emerson Equity-Pushed GWG L Bonds Face Imminent Default After Failing to Pay Investors

Attorney Advising Disclaimer

Investors who purchased GWG Holdings' L Bonds from Emerson Equity of San Mateo, California, and other broker-dealers may soon be looking to file claims against the broker and/or firm who sold them these complex and risky products, as GWG sits on the precipice of default, having failed to issue $13.6 million in payments to L Bond investors, and, most recently, failing to make those payments within a 30-day grace period/extension filed on January 15 with the SEC.

GWG Holdings (NASDAQ: GWGH) issued a brief statement, "The sale of L Bonds is paused," shortly after first suspending payments, suggesting an ominous future for both the company and for any customers who invested in the illiquid, risky, and complex L Bond offering.

On February 14, 2022, one day before the company's SEC extension deadline, GWG Holdings sent a letter indicating it would extend its pause in sales, interest, maturity, dividend and redemption payments.

SEC records indicate GWG in recent years has failed to report financial statements timely, which raises yet another red flag for investors—including elderly clients in need of interest and divididends—still waiting to get paid.

If you invested with an Emerson Equity broker, investment adviser, or with any other brokerage firm's representative in GWG Holdings L Bonds, and are now suffering financial damages exacerbated by your broker's failure to adequately assess the product for suitability, or who misrepresented or omitted the GWG L Bonds' complex, risky, and illiquid nature, please call an experienced FINRA arbitration attorney at The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

Related Posts
  • Fraudster Greg Lindberg, Owner of Northstar (Bermuda) and Colorado Bankers Life, Guilty of Bribery Read More
  • William Shopoff Fraud Claims Net Investors $42 Million in Settlements Read More
  • Jeffries Broker Cited for Using WhatsApp To Conduct Securities Business Read More