Shane Elsbury Allegedly Failed to Fully Inform Client About GWG Holdings Bond

Shane Elsbury (CRD #: 5661717), a broker registered with American Equity Investment Corporation, is involved in a pending investor dispute, according to his BrokerCheck record, accessed on January 23, 2023. Keep reading if you have questions about his alleged conduct as a broker.

Investor Dispute

On November 30, 2022, an investor alleged that Shane Elsbury facilitated the purchase of an unsuitable, seven-year bond offered by GWG Holdings in January 2017 and failed to adequately inform the client of the risks involved. The client seeks $150,000 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles, which describe characteristics including their tax status, risk tolerance, and investment goals.

Investors who believe their losses are the result of unsuitable investment recommendations may be able to recover their funds by pursuing FINRA arbitration.

FINRA Rule 2020

The misrepresentation or omission of information related to investments violates FINRA Rule 2020, which forbids the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities.

Background Information

Shane Elsbury has passed the following exams:

• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 14 – Compliance Officer Examination
• Series 24 – General Securities Principal Examination

Shane Elsbury is a registered broker in Indiana, Kentucky, Ohio, and Texas.

Kurta Law Can Help

If you worked with Shane Elsbury and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.