Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
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#16
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Mark Cline Allegedly Recommended GWG L Bonds - |
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#17
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#18
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The ‘attorney of record’ is listed in online public court files in Florida cases if you can find the cases. In Florida state trial courts, the databases are at the county level. This means you make have to search online using each county’s court records (e.g., Sumter, Lake, Marion). A place to start is searching on the name of the broker and his brokerage firm as defendant. |
#19
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The requirement to act as a fiduciary when giving advice for retirement accounts is a Federal law. It doesn't apply to non-retirement accounts.
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#20
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OP did not say anything about a retirement account. If not a retirement account, then Federal ERISA law does not apply. |
#21
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WHY WHY would anyone buy something like this ?
Iam constantly amazed at some of the purchases of our Village people ! I cant tell you how many people lost huge amounts of money using a paid financial advisors and held TECH through a rising fed rate environment ..and financial advisor would know that a mutual fund full of tech would plunge when the fed was raising interest rates,,,as tech stocks are highly leveraged
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#22
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Last edited by retiredguy123; 03-31-2023 at 08:01 AM. |
#23
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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
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#24
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GWG is in Chapter 11 Bankruptcy in the Southern District of Texas (Cases 22-90032 and 90033). Until the bankruptcies conclude, no one has lost any money on L bonds. According to filings in the court L bonds have priority over other claims and it is likely they will be paid. Also, they do not mature until 2025 so, at this point, only the interest payments are due. I am a client of Whitaker and a holder of L bonds.
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#25
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#26
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#27
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All Investing carries risk. Those who rely on the knowledge and advise of others to invest increase that risk as well. I have little sympathy for those who use a financial adviser, loose money and then blame the financial advisor. Take responsibility for managing your own money and learn to choose your own investments. If you trust someone's decisions and have a bad outcome, learn the Lesson. Make your own decisions.
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#28
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My moms are in her IRA account. They also have the GWG in their trust account.
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#29
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This was a Ponzi scheme everything I have researched doesn't look like the bondholders will come out whole. My question to my parents is why you trust GWG when we now know they are crooks. Why trust Whitaker when he had no business selling theses risky bonds to seniors. |
#30
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Fiduciary Responsibilities | U.S. Department of Labor |
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