Talk of The Villages Florida - View Single Post - Need help for my parents they have GWG L Bonds with Michael Whitaker and Associates
Thread: Need help for my parents they have GWG L Bonds with Michael Whitaker and Associates
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Old 03-31-2023, 07:38 AM
retiredguy123 retiredguy123 is offline
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Originally Posted by danglanzsr View Post
I am an investor with Whitaker. GWG is in Chapter 11 reorganization (Southern District of Texas, cases 22-90032 and 22-90033) The L bonds have priority in the bankruptcy case and there is a high likelihood that the bonds will be paid since QWG has over a billion dollars in assets according to filings in the bankruptcy court. It is premature to claim that L bond investors have lost all their money. Therefore any law suit based on loss from the sale of the bonds would be premature. I am only addressing the GWG claims, not any other grievance others may have against Whitaker
Is there any evidence that GWG did anything illegal? Losing investors' money in a high risk investment is not illegal. As long as they acted in accordance with the prospectus, there would be no recourse in a lawsuit.