[SallyB]

For all the GWG L Bond holders. The GWG Trust has made the offer to pay all the bond holders THREE CENTS ON THE DOLLAR. So all these years Michael Whitaker's and Assoc office has stated we will get most of our money back was really wrong. This is such a joke.
For those who went through FINRA you did good for yourself. Your returns even after lawyer's fees you did much better. Looking on Broker Check here are some of the settlements: Damage (Clients Investment) vs Settlement
D- $35,000 S - $21,000
D - $85,000 S - $44,500
D - $80,000 S - $30,000
D - $70,000 S - $42,500
These are just some of them you can find more on BrokerCheck.finra.org. These are much better then $.03 cents to the dollar.

I have heard two different answers to the question am I able to file a complaint with FINRA
One answer is you have 6 years from the purchase date
Second answer is you have 6 years from the date the funds were lost.
I wish I could get a solid answer.

I hope this helps others because we were shocked at the $.03 cents on the dollar hurts.

Here is the current information on the settlement:

GWG Holdings Inc. filed for chapter 11 bankruptcy protection nearly three years ago, and now distressed investors who bought $1.6 billion in so-called GWG L bonds have been offered pennies on the dollar in a settlement proposal made Friday.

Beneficient, a platform for illiquid alternative investments that was spun off from GWG months before it went bankrupt, has made an offer of $50.5 million to settle claims related to lawsuits filed in federal court in Texas, including GWG’s bankruptcy proceeding, which commenced in April 2022.

Michael Goldberg is the trustee of the GWG Litigation Trust. The proposed settlement requires approval from federal judges in Texas in bankruptcy court and district court, specifically for the settlement of the class action lawsuit’s claims.

For several years before its bankruptcy, about 40 broker-dealers sold customers close to $1.6 billion in GWG L bonds, so-called because they were backed by life settlements. The bonds were sold in $1,000 units.

[WiseSpender]

Wondering how many on this forum have invested in these bonds, and when?

[SallyB]

Originally Posted by WiseSpender

Wondering how many on this forum have invested in these bonds, and when?

Since the original post had over 105,000 views and Whitaker sold over $8 million in the L Bonds to mostly to Villagers, I would think quite a few