WESTERN INTERNATIONAL SECURITIES & Lisa Nouchi

Soreide Law Group has filed a FINRA arbitration on behalf of their clients (Claimants) against:

WESTERN INTERNATIONAL SECURITIES, INC (Respondent).

The Claimants, a married couple, one retired and one working part time, reside in Idaho. The lawsuit states that WESTERN INTERNATIONAL SECURITIES' (WIS) former registered representative, Lisa-Ann Tomiko Nouchi (Lisa Nouchi), has been friends with the Claimant for many years. The lawsuit claims that representative, Lisa Nouchi, allegedly knew that the Claimants are very conservative investors and were looking for reliable income to sustain them through retirement.  Lisa Nouchi was registered as both a broker and investment advisor with WESTERN INTERNATIONAL SECURITIES of Vacaville, California from 2008-06/05/2025.  She is currently with LPL FINANCIAL LLC of Vacaville, California since 6/5/2025. Nouchi is not named in this lawsuit.

According to the lawsuit, in 2018, the Respondent allegedly presented the Claimants with GWG Holdings L bonds as a safe and secure asset-backed investment. The lawsuit alleges Lisa Nouchi recommended a total $50,000 investment in two $25,000 GWG L bonds with different maturities.

The lawsuit states that despite offering two separate $25,000 bonds, the Claimant’s credit default risk of the one issuer remained the same.  The lawsuit alleges that the Respondent, WESTERN INTERNATIONAL SECURITIES, failed to warn their customers of the dramatic changes to the company that ultimately resulted in its bankruptcy. On April 20^th, 2022, GWG Holdings filed Chapter 11 bankruptcy which will wipe out a significant portion of the Claimant’s life savings in addition to the lifelong lost revenue that could have been produced in suitable investments.

On December 2021, GWG Holdings failed to make their January 15^th, 2022 interest payment of $10,350,000 and to make their $3,250,000 principal payment on their “L” bonds and the lawsuit alleges the Respondent chose to ignore this red flag and did not attempt to liquidate any of the Claimants’ GWG L bonds.

The lawsuit claims that the Respondent and their former representative, Lisa Nouchi’s actions have caused damages to the Claimants of approximately $50,000.00. The lawsuit is claiming negligence, breach of fiduciary duty, and negligent supervision.

According to FINRA’s BrokerCheck, available to the public on FINRA’s website, Lisa Nouchi, has 32 years of experience in the securities industry and has been listed with 6 firms.  Nouchi has 4 disclosures on her FINRA CRD report, two “Customer Disputes,” one “Regulatory,” and one “Employment Separation after Allegations.”

Many investors, including elderly retirees, were allegedly misled into believing L Bonds were low-risk, secure investments, when in fact GWG L Bonds were high-risk and considered unsuitable for many investors. GWG L Bonds were speculative, high-risk, and illiquid securities sold as private placement through broker/dealers nationwide.

Soreide Law Group has successfully brought dozens of cases before FINRA involving GWG L Bond sales.  To discuss this article or any other securities issues contact Soreide Law Group and speak to an experienced securities lawyer at no cost :  888-760-6552.

Soreide Law Group represents our clients nationwide before FINRA on a contingency fee basis, no fee to you If no recovery.