Stoltmann Law Offices is representing GWG L-Bond investors from across the country in FINRA arbitration claims against the brokerage firms responsible for soliciting the investors to put their hard-earned money into the speculative bonds offered by GWG Capital.
There are thousands of investors in the GWG-Bonds and very few have actually filed FINRA claims. Many are waiting on the sidelines to see what happens with the ongoing Chapter 11 process while others are relying on information being peddled by the brokers and firms who sold them GWG, who continue to (mis)represent the alleged value of GWG Holdings, promising a full return of investor funds. This is false and at this point, its fraud.
Let’s examine some of the representations advisors and their firms continue to make to their clients. First, GWG has an interest in FOXO Technologies (symbol FOXO). In September, FOXO went public in a SPAC deal and its stock is down over 90% since it hit the market. FOXO has a current market capitalization of only $38.6 million, making it a micro-cap penny stock. Any representations that L-Bond investors will be saved as a result of any FOXO interest is clearly false as the stock continues to crater.