RF Lafferty’s Abraham Heller: Client Invested $350K in GWG

At least one current or former client of RF Lafferty & Company advisor Abraham Heller (CRD# 1636080) is listed as a creditor for investments in GWG Holdings L bonds and/or preferred stock. Filed with a US bankruptcy court, the records disclose investments of $350,000. Financial Industry Regulatory Authority records show that Mr. Heller is a broker based in New York City.

GWG Holdings was a financial services firm that reportedly pooled investors’ funds to buy life insurance policies on the secondary market via its “L bond” product, ostensibly repaying investors when the policies paid out. In 2020, the company disclosed in a Securities and Exchange Commission filing that it was undergoing financial challenges and facing SEC scrutiny. In 2022 it revealed that it was suspending sales, interest, maturity, dividend, and redemption payments to L Bond and Preferred Stockholders. A few months later, the company filed for bankruptcy. If your financial advisor misrepresented the risk of investments in GWG Holdings, or over-concentrated these products in your portfolio, they may be liable to you.

According to the Financial Industry Regulatory Authority, Abraham Heller holds 30 years of securities industry experience. Based in New York, New York, he has been a broker with RF Lafferty & Company since 2012. His registration history includes Viewtrade Securities (Staten Island, New York; 2012), Sloan Securities Corporation (New York, New York; 2006-2012), Laconia Capital Corporation (New York, New York; 2004-2006), Peconic Securities (New York, New York; 2002-2005), Spear Leeds & Kellogg ((New York, New York; 1996-2001), Republic New York Securities Corporation (New York, New York; 1994-1996), and Prudential Securities (New York, New York; 1992-1994). His credentials include the passage of six securities industry qualifying exams: the National Commodity Futures Examination, or Series 3; the General Securities Representative Examination, or Series 7; the Limited Representative-Equity Trader Exam, or Series 55; the Securities Industry Essentials Examination, or SIE; the Securities Trader Exam, or Series 57TO; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Florida, Maryland, New Jersey, and New York. (Information current as of June 13, 2023.)

Carlson Law has represented at least nine investors in claims against their financial advisors for investments in GWG Holdings Inc. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.