Marion Leonberger Facing American Equity Client Dispute

Soreide Law Group is reviewing potential investor claims on behalf of those who may have invested with securities broker Marion Leonberger (also known as Marion Leopold Leonberger Jr. and as Sonny Leonberger (CRD#: 1083568, Louisville, Kentucky). Notably, FINRA BrokerCheck shows three investor disputes on the record of the securities broker. Evidently, he worked for American Equity Investment Corporation from February 2003 to December 2021. Here’s more about these disclosures.

American Equity Investment Corporation Client Alleges Unsuitable GWG L-Bonds

Specifically, on March 8, 2023, the American Equity Investment Corporation client brought FINRA Arbitration 23-00571 about Marion Leonberger. The client alleged that in 2018, they invested in GWG L-bonds. However, the client stopped receiving interest around the time that the issuer filed for Chapter 11 bankruptcy protection in 2022. For this reason, the client asked for $100,000 in compensation from Leonberger or American Equity Investment Corporation. This matter is ongoing.

Client Alleged Failure To Follow Instructions In Dispute About Marion Leonberger

In another dispute from 2001, a client of American General Securities Incorporated (Marion Leonberger’s prior employer) alleged that he did not follow instructions concerning mutual fund transactions for the client’s account. However, this dispute is unresolved.

Client Alleged Unsuitable Annuity Rollover

Also, an American General Securities Incorporated client disputed Marion Leonberger’s sales practices in 2001. Mainly, the client contended that Leonberger made an unsuitable recommendation or transaction concerning a rollover of a retirement account into an annuity. However, like the other dispute, this matter did not get resolved.

Speak With Soreide Law Group If You Experienced Damages Due To Leonberger

Did you experience losses because of Marion Leonberger? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney concerning a potential recovery. Soreide Law Group has recovered funds for investors throughout the United States, works on a contingency fee basis, and advances all costs. Leonberger and the brokerage firms he worked for deny accusations of sales practice violations.