Investigation: GWG L Bond Sales Made by Gaylord Rohloff
We are investigating Gaylord Rohloff (CRD #1542216) for sales practice violations related to the marketing of GWG L Bonds. Mr. Rohloff is currently registered with Western International Securities in Westlake Village, 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 25, 2022.
Investor Files Complaint over GWG L Bonds
On August 19, 2022, a retiree filed a complaint against Western International concerning Mr. Rohloff’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.
Gaylord Rohloff Previously Resigned from Financial West Group
On May 27, 2008, Mr. Rohloff was “permitted to resign” from Financial West Group. Here is the disclosure that was placed on his securities license, “During an external audit of Mr. Rohloff’s supervising branch office, the auditor discovered a written customer complaint that was never forwarded to the compliance dept. of Financial West Group. The complaint alleged Rohloff of unauthorized trading and subsequent tax consequences. It was found that Rohloff used discretion without obtaining approval from the client. The complaint was resolved with the customer, and the matter was closed. Further inquiry found that Rohloff used discretion with several other accounts and traded securities without customer authorization. Rohloff resigned prior to Financial West Group completing its investigation”
Rohloff’s Other Customer Complaints
According to FINRA, he was the subject of a 2002 customer complaint, which resulted in a customer settlement of over $52,551.60. The customer was seeking $57,719.00. According to FINRA, the allegations relate to a fund transfer.
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…”
Attorney Marc Fitapelli Discusses the SEC Complaint Against Western International
Hiring Our Law Firm
If you lost money investing in GWG L Bonds through Gaylord Rohloff 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.