Fariba Madison Involved in Investor Complaint over GWG L Bonds
We are investigating Fariba Madison (CRD #1178259) for sales practice violations related to the marketing of GWG L Bonds. Ms. Madison is currently registered with Western International Securities in Los Alamitos, California. The information contained in this article is based on disclosures contained on her public securities license as well as other information. The public disclosures were last accessed on August 3, 2022.
Investor Files $500,000 Complaint over GWG L Bonds
On August 2, 2022, a retiree filed a complaint against Western International concerning Farbia Madison’s sale of GWG L Bonds. The complaint seeks a return of principal, plus interest and attorneys’ fees. The case is pending before FINRA in Los Angeles, California. Attorney Marc Fitapelli represents the investor.
History of Complaints Against Fariba Madison
According to her public securities license, Ms. Madison has two other pending complaints as of August 3, 2022. The cases were both filed on June 1, 2022 – one seeks unspecified damages and the other seeks $300,000. The broker comment accompanying both disclosures states, “Rep denies any and all allegations.”
Western International Sued by SEC Over GWG L Bond Sales
On June 16, 2022, the Securities and Exchange Commission charged Western International Securities with violating securities laws by selling GWG L bonds to its customers. The SEC argues that the brokerage firm did not, “understand the risks, rewards, and costs associated with L Bonds…”
Hiring Our Law Firm
If you lost money investing in GWG L Bonds through Fariba Madison or Western International Securities, we want to speak with you. Please call 800-767-8040 and ask to speak with attorneys Marc Fitapelli or Jeffrey Saxon.