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Gaspar Garcia: $150K GWG L-Bond Complaint Against Newbridge Advisor
A new investor complaint against Boca Raton financial advisor Gaspar Garcia (CRD# 3244396) alleges he engaged in fraud and negligence when recommending GWG L-bonds. Financial Industry Regulatory Authority records show that he is a broker and investment advisor with Newbridge Securities Corporation, doing business as Gaspar Garcia Advisors.
Mr. Garcia’s BrokerCheck report discloses one recent investor complaint. Filed in June 2022, it alleges that as a representative of Newbridge Securities Corporation, he breached his fiduciary duty, committed fraud and was negligent in regards to the sale of an investment in a GWG L-bond. The pending complaint alleges damages of $150,000.
In a statement on the June 2022 complaint, Mr. Garcia denies “all allegations” in the claim. He wrote further: “The L-Bond was purchased in 2014. A prospectus and sales literature were provided in advance of the buy. These clients are sophisticated investors and serve on several corporations.”
According to the Financial Industry Regulatory Authority, Gaspar Garcia holds 22 years of securities industry experience. Based in Boca Raton, Florida, he has been a broker and investment advisor with Newbridge Securities Corporation since 2012. His past registrations include RBC Capital Markets (Plantation, Florida; 2009-2012); J.B. Hanauer & Company (Plantation, Florida; 2009), Wachovia Securities (Pembroke Pines, Florida; 2005-2009), and Edward Jones (St. Louis, Missouri; 1999-2005). His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Arizona, Connecticut, Florida, Indiana, Minnesota, New York, North Carolina, Ohio, and Pennsylvania. (Information current as of July 10, 2022.)
Carlson Law represents several investors involved in GWG L bond claims against financial advisors and investment firms throughout the United States. If you or a loved one have suffered losses investing in GWG L bonds, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.