Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Donald Rhodes (Rhodes), previously associated with American Equity Investment Corporation, has at least one disclosable event. These events include one customer complaint, alleging that Rhodes recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint with a damage request of $120,000.00 on November 30, 2022.
Claimant purchased a $120,000 bond with GWG Holdings Inc. in April, 2021. In April 2022, GWG Filed for Chapter 11 bankruptcy reorganization, which is still pending. Claimant alleges the bond was unsuitable and the respondent did not sufficiently convey the risks involved.