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AG Saab: GWG L Bond Allegations against The Fig Group
Dallas, Texas financial advisor AG Saab (CRD# 408501) is involved in an investor complaint concerning purchases of GWG L bonds. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Sunbelt Securities. He was previously registered with The Fig Group in Dallas.
Complaint Alleges Unsolicited GWG Sales
Filed in August 2022, the recent investor complaint disclosed on Mr. Saab’s BrokerCheck report alleges that while he is not a subject of the complaint, he is nonetheless “associated with the conduct of the firm,” The Fig Group. It goes on to detail unspecified allegations relating to unsolicited purchases of L bonds issued by GWG, a company that later went into Chapter 11 bankruptcy. The pending complaint alleges approximate damages of $65,000.
1995 Complaint Ended in $82,000 Award
FINRA records disclose one other investor complaint involving Mr. Saab. Filed in 1995, it alleged unsuitable trading in unspecified securities and options from 1990 to 1993. The complaint evolved into an arbitration proceeding before a National Association of Securities Dealers panel, which ultimately issued an award to the customer of $82,573.
What Is The Fig Group?
His BrokerCheck report shows that Mr. Saab was registered with The Fig Group 2005 until November 2022. According to the firm’s website, The Fig Group is an “independent financial firm that specializes in Global Equity Executions and Options Overlay Management.” Founded in 2004, it states in its “Who We Are” page that it “strives to bring about positive social, environmental, or governmental change through our business,” and makes business decisions “with the good in mind.” Its services include equity trading, options trading, alternative investments, and asset management. “Our team is dedicated,” the firm states, stressing its team’s combined “70 years plus” of industry experience. “We understand today’s complex global markets and constantly strive to develop new and more efficient ways to improve services to our clients.”
FINRA: Saab Currently Based in Dallas
According to records maintained by the Financial Industry Regulatory Authority, AG Saab has spent 52 years working as a broker. Based in Dallas, Texas, he has been a representative of Sunbelt Securities since 2022, and he does business as The Fig Group. His registration history includes The Fig Group, WFG Advisors, ADM Securities, Wood Logan Securities, Painewebber, and Gates Carter Levi. (Information current as of November 28, 2022.)
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