TONY BAROUTI (AHMAD AGHA BAROUTI, AHMAD BAROUTI, CRD#: 3031995), a broker currently registered with Emerson Equity LLC in Los Angeles, California, has investor complaints allegedly due to the sale of GWG L Bonds underwritten by GWG Holdings Inc.(GWGH), which has declared bankruptcy.
According to a recent article in InvestmentNews, Emerson Equity, based in San Mateo, California, primarily sells private placements, and is the managing broker/dealer for the GWG issuer of $1.6 billion bonds backed by life settlements. GWGH defaulted on $13.6 million in bond payments in January and declared bankruptcy in U.S. Bankruptcy Court for the Southern District of Texas. Emerson Equity, was just one of 145 broker/dealer firms who sold the bonds, according to court filings. InvestmentNews states that in one case more than a dozen clients are suing Emerson Equity in a FINRA arbitration, and TONY BAROUTI was their broker, who according to the claim purchased GWG L Bonds through Barouti.
According to FINRA’s BrokerCheck, TONY BAROUTI, has 22 years of experience in the securities industry, and has 4 disclosures on his FINRA CRD report, all 4 are “Customer Disputes.”
There are two disputes that were both filed on March 4, 2022 that are currently pending. One pending dispute has allegations of, “Failure to disclose, fully and fairly, all material facts, risks and speculative nature associated with an investment despite customers written acknowledgement that they understood the facts and risks.” The damage amount requested is, $1,270,000.00.
The second pending customer dispute against Barouti has the same allegations of, “Failure to disclose, fully and fairly, all material facts and risks associated with an investment despite customers written acknowledgement that they understood the facts and risks.” The damage amount requested is $100,000.00.
TONY BAROUTI has been listed with 9 firms and is currently listed with the following firm since 6/13/2017:
EMERSON EQUITY LLC
11661 San Vicente Blvd Suite 414
Los Angeles, CA 90049
If you’ve experienced GWG L Bond losses due to the actions or recommendations of broker, TONY BAROUTI, currently registered with Emerson Equity LLC in Los Angeles, California, or any other broker/dealer, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group works on a contingency fee basis and represents our clients nationwide before FINRA.
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