Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Shane Elsbury (Elsbury), currently associated with Transamerica Financial Advisors, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Elsbury 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 $150,000.00 on November 30, 2022.
Claimant purchased a $150,000, 7-year bond with GWG Holdings, Inc. in January of 2017. In April 2022, GWG Holdings, Inc. 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.