If true, that GWG is determined to be a Ponzi Scheme shouldn't the brokers, in my case Michael L Whitaker, be partly responsible to their clients? We did rely on these brokers/advisors to guide us but were left hanging when they knew, or should have known, GWG was in trouble.
(Cut and pasted from the original post) The information I have found says that this "GWG Was a Classic Ponzi Scheme"-Official Committee of Bondholders of GWG Holdings, Inc. The CEO transferred from the bondholders $258 million into his new company Beneficent. It stated that GWG used new bondholder funds to pay their monthly payouts to existing bondholders for years and they sold over $1 billion in L Bonds.
I also found that the company Michael works for New Bridge Securities is also under investigation over the GWG L Bonds.
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