Los Angeles-Based Financial Advisor Allegedly Targeted Customers of Iranian Heritage
In an earlier GWG L Bond blog post, our securities attorneys reported we were looking into whether customers of Emerson Equity broker Tony Barouti had suffered losses in these high-yield bonds. In March 2022, investors filed two investor claims seeking $1.37M in damages.
Brokerage firm Emerson Equity is the managing broker-dealer for the GWG issuer of $1.6B of L bonds, backed by life settlements. On April 20, 2022, GWG Holdings, Inc. filed for Chapter 11 bankruptcy protection. The move came just two months after the Texas-based alternative asset firm defaulted on $13.6B in bond payments and interest it owed L Bond investors.
The post Emerson Equity Broker Tony Barouti Facing $1.37M in GWG L Bond Claims appeared first on Investor Lawyers Blog.
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