[dhsmith]

We started investing with Whitaker about 8 years ago and have made a lot on money since then.Yes we bought GWG bonds back in 2017 and for about five years they were great and we made money. The last 18 months the gravey train stopped.So far we have not lost any money and won’t know what if any lost will occur until the Federal Bankruptcy Court rules on the recommendation of the committee.We may not lose any money and will receive repayment over several years hopefully that happens.

I’m 75 years old and listened to the sales pitch and I alone made the decision to invest $130000.00 over 5 years in GWG L Bonds.All investments aren’t home runs you hope they are but you have to take the good with the bad and hope it balances out in the end.


What I really dislike is people who won’t take responsibility for their actions and want to blame everyone else for the decisions that they have made, unfortunately this has become norm in the last 20 or 30 years to cry and wine when things don’t go as planned.

[MDFlyer]

Originally Posted by Gpsma

I suspect that Whittaker didnt sell as much as the few posters, who ignored their investments, are complaining about it now.

They were taken and now regret they didnt exercise due diligence.

What is your plan? You hire a "advisor like Michael L Whitaker and Associates" to look into good investments for you and pay for this advice. Due Diligence has been completed. Maybe you are an expert in everything and do your own due diligence on everything, but most people prefer to hire professionals to advise them in areas they are unfamiliar with. I, and many others, trusted Michael L Whitaker and Associates to be a fiduciary and only give us truthful advice and not advise that benefited his company with high commissions at our expense.

[MDFlyer]

Originally Posted by dhsmith

We started investing with Whitaker about 8 years ago and have made a lot on money since then.Yes we bought GWG bonds back in 2017 and for about five years they were great and we made money. The last 18 months the gravey train stopped.So far we have not lost any money and won’t know what if any lost will occur until the Federal Bankruptcy Court rules on the recommendation of the committee.We may not lose any money and will to receive repayment over several years hopefully that happens.

I’m 75 years old and listened to the sells pitch and I alone made the decision to invest $130000.00 over 5 years in GWG L Bonds.All investments aren’t home runs you hope they are but you have to take the good with the bad and hope it balances out in the end.


What I really dislike is people who won’t take responsibility for their actions and want to blame everyone else for the decisions that they have made, unfortunately this has become norm in the last 20 or 30 years to cry and wine when things don’t don’t go as planned.

It is not a matter of not taking responsibility for our purchasing. Had we been told the truth about GWG being high risk by Michael L Whitaker and Associates we would not have made the purchase. Our relationship with this company from the very beginning, was not to put us in high-risk products. Michael L Whitaker and Associates did not honor our wishes and did not act as a fiduciaries for our money. Glad for you that you accept being ripped off.

[MDFlyer]

Originally Posted by dhsmith

We started investing with Whitaker about 8 years ago and have made a lot on money since then.Yes we bought GWG bonds back in 2017 and for about five years they were great and we made money. The last 18 months the gravey train stopped.So far we have not lost any money and won’t know what if any lost will occur until the Federal Bankruptcy Court rules on the recommendation of the committee.We may not lose any money and will to receive repayment over several years hopefully that happens.

I’m 75 years old and listened to the sells pitch and I alone made the decision to invest $130000.00 over 5 years in GWG L Bonds.All investments aren’t home runs you hope they are but you have to take the good with the bad and hope it balances out in the end.


What I really dislike is people who won’t take responsibility for their actions and want to blame everyone else for the decisions that they have made, unfortunately this has become norm in the last 20 or 30 years to cry and wine when things don’t don’t go as planned.

How much money did you make in 5 years or so? Enough to cover the $130,000 investment? If there is any payout it will be over many years and you may not get all of your principal and certainly no interest back. Please do not lecture the rest of us that may not be able to afford the losses.

[MDFlyer]

Originally Posted by dhsmith

We started investing with Whitaker about 8 years ago and have made a lot on money since then.Yes we bought GWG bonds back in 2017 and for about five years they were great and we made money. The last 18 months the gravey train stopped.So far we have not lost any money and won’t know what if any lost will occur until the Federal Bankruptcy Court rules on the recommendation of the committee.We may not lose any money and will receive repayment over several years hopefully that happens.

I’m 75 years old and listened to the sales pitch and I alone made the decision to invest $130000.00 over 5 years in GWG L Bonds.All investments aren’t home runs you hope they are but you have to take the good with the bad and hope it balances out in the end.


What I really dislike is people who won’t take responsibility for their actions and want to blame everyone else for the decisions that they have made, unfortunately this has become norm in the last 20 or 30 years to cry and wine when things don’t go as planned.

Losing money is not a matter of your outlook on where your money went but a matter of it gone and may never be coming back. Yes, you did lose money, $130,000 less the few thousand you may have gotten back from the dividends over the years. The losses you are experiencing now may never be recovered. From what you have said, Michael L Whitaker and Associates did exactly what you instructed him to do. He invested your money in high-risk bonds and you lost. For most of the rest of us he did not act as a fiduciary and against our wishes put us in high-risk investments. This does make you wrong or us wrong it just makes Michael L Whitaker and Associates wrong.

[Gpsma]

Originally Posted by MDFlyer

Losing money is not a matter of your outlook on where your money went but a matter of it gone and may never be coming back. Yes, you did lose money, $130,000 less the few thousand you may have gotten back from the dividends over the years. The losses you are experiencing now may never be recovered. From what you have said, Michael L Whitaker and Associates did exactly what you instructed him to do. He invested your money in high-risk bonds and you lost. For most of the rest of us he did not act as a fiduciary and against our wishes put us in high-risk investments. This does make you wrong or us wrong it just makes Michael L Whitaker and Associates wrong.

Didnt you ever review your portfolio and question what and why he invested in these bonds and other securities. Or did you blindly give him money and tell him to invest only in safer investments?

[MDFlyer]

Originally Posted by Gpsma

Didnt you ever review your portfolio and question what and why he invested in these bonds and other securities. Or did you blindly give him money and tell him to invest only in safer investments?

Since we did not know a lot about investing we had to place our trust in Michael L Whitaker and Associates to only suggest investments that were low risk as we instructed. If you have read this whole thread you will notice that Michael did as we instructed for many years but as his need for more and more financial profit took over him he shifted to selling his clients higher risk and correspondent higher commissions for him. This change was deliberately gradual and we did not have any reason not to continue to trust him. We started with him in about 2011 just about the same time he started. Of course, he says Michael L Whitaker and Associates has been in business for 38 years but the records say something entirely different. Another deception?

[Gpsma]

Originally Posted by MDFlyer

Since we did not know a lot about investing we had to place our trust in Michael L Whitaker and Associates to only suggest investments that were low risk as we instructed. If you have read this whole thread you will notice that Michael did as we instructed for many years but as his need for more and more financial profit took over him he shifted to selling his clients higher risk and correspondent higher commissions for him. This change was deliberately gradual and we did not have any reason not to continue to trust him. We started with him in about 2011 just about the same time he started. Of course, he says Michael L Whitaker and Associates has been in business for 38 years but the records say something entirely different. Another deception?

So he would suggest investments and you would then approve them? Or did you just give him a sum of money and told him only low risk?
Before you moved here did you have an investment adviser you were happy with?

[MDFlyer]

Originally Posted by Gpsma

So he would suggest investments and you would then approve them? Or did you just give him a sum of money and told him only low risk?
Before you moved here did you have an investment adviser you were happy with?

You are beginning to sound like a plant working for Michael L Whitaker and Associates. I am not going to respond to any more of your messages.

[Gpsma]

Originally Posted by MDFlyer

You are beginning to sound like a plant working for Michael L Whitaker and Associates. I am not going to respond to any more of your messages.

I think if you look back at my posts you would not have made that comment.

[MDFlyer]

Originally Posted by Gpsma

I think if you look back at my posts you would not have made that comment.

When you start asking personal questions about my actions and dealings with Michael L Whitaker and Associates you look like someone collecting information for him to use in his FINRA defense. Michael: If you want to talk with me about a settlement please email me to set up an appointment.

[Gpsma]

Originally Posted by MDFlyer

When you start asking personal questions about my actions and dealings with Michael L Whitaker and Associates you look like someone collecting information for him to use in his FINRA defense. Michael: If you want to talk with me about a settlement please email me to set up an appointment.

All u have to do is look at my postings on here and you would realize im not someome working for whittaker.

I was just curious how u got involved and then got scammed.
I suspect you are very bitter..sort of like someone who left the door unlocked and got robbed.

[MDFlyer]

Originally Posted by Gpsma

All u have to do is look at my postings on here and you would realize im not someome working for whittaker.

I was just curious how u got involved and then got scammed.
I suspect you are very bitter..sort of like someone who left the door unlocked and got robbed.

Oh, you can tell I am bitter, amazing. So you call trusting your advisor to do what you ask is "leaving the door unlocked" In my opinion you are the one leaving the door unlocked if you do not take action to help prevent others from being taken by Michael L Whitaker and Associates.

[SallyB]

I have been getting some private messages from some of his clients and past clients. The one that really surprised me was from someone that stated Michael sold their GWG in 2021 because GWG didn't file their annual report in 2021, they questioned why we didn't pull out then. Well, my parents were not told what was going on until it was too late.
Again, Michael knew there was a problem but only helped a few.
Why would only some of his clients get pulled out of GWG and not others. How did he pick and choose who was lucky and who was unlucky?
I think that is a question all of you should be asking him. Why didn't you pull all the clients out of GWG, why did he pick and choose who he pulled out?
Would he have lost some of his commissions? I really would like to know because it makes no sense.
As I said before the lawyer, I spoke to stated at one point Michael had somewhere around $6 - 10 million in GWG.

[MDFlyer]

Originally Posted by SallyB

I have been getting some private messages from some of his clients and past clients. The one that really surprised me was from someone that stated Michael sold their GWG in 2021 because GWG didn't file their annual report in 2021, they questioned why we didn't pull out then. Well, my parents were not told what was going on until it was too late.
Again, Michael knew there was a problem but only helped a few.
Why would only some of his clients get pulled out of GWG and not others. How did he pick and choose who was lucky and who was unlucky?
I think that is a question all of you should be asking him. Why didn't you pull all the clients out of GWG, why did he pick and choose who he pulled out?
Would he have lost some of his commissions? I really would like to know because it makes no sense.
As I said before the lawyer, I spoke to stated at one point Michael had somewhere around $6 - 10 million in GWG.

As I mentioned earlier, I would like to know how much in GWG L Bonds Michael Whitaker had and when he sold them. I hope I get the chance to depose him as part of my FINRA case. Where did you get this information?