GWG Holdings Inc. L Bond Losses with Former NPB Financial Group, LLC Broker Gary Benson

GWG Holdings Inc.

Former NPB Financial Group, LLC broker Gary Benson (CRD# 1182211) is accused of GWG Holdings Inc. L Bond losses. He has been registered with Independent Financial Group, LLC in Encino, California, since 2022, as well as with Pash & Benson International Ltd., in Encino, California, since 2006. Previously, he was registered with NPB Financial Group, LLC in Encino, California, from 2006 to 2022.

Gary Benson Customer Complaints

He has been the subject of 11 customer complaints between 1990 and 2022, one of which was denied, and one was closed without action, according to his CRD report. The most recent complaints are regarding: 

October 2022. “Claimant alleges product was not suitable.” The customer is seeking $200,000 in damages, and the case is currently pending. The complaint was related to GWG Holdings Inc. L Bond losses. 

April 2022. “Client alleges Inaccurate minimum income figures were provided to client on one of annuities purchased. Client has two other annuities with minimum income benefits. They have increased to higher minimum income amounts. The combined total minimum income benefits on all annuities are higher than amounts originally presented. The combined total amount client invested in all annuities is much higher in value. Client is not financially harmed.” The customer sought $5,500 in damages, and the case was settled for $142,500. The complaint was related to variable annuity investment losses.

Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, NPB Financial Group, LLC may be liable for investment or other losses suffered by Gary Benson’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.

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Author: Jeffrey Erez

The founder of Erez Law, Jeffrey Erez, focuses exclusively on securities arbitration and litigation. Mr. Erez passionately believes in representing aggrieved investors and obtaining justice for his clients through litigation.