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Jonathan Penaloza: Centaurus Advisor’s Client Listed as GWG Creditor

At least one current or former customer of Centaurus Financial advisor Jonathan Penaloza (CRD# 6929021) is listed as creditor for an investment in GWG L Bond, according to records filed with a US bankruptcy court in Texas. These records describe an investments of $130,000. Financial Industry Regulatory Authority records show that Mr. Penaloza is registered as a broker and an investment advisor in Anaheim, California.

According to an April 2022 article reported by the Wall Street Journal, GWG Holdings is an alternative asset management firm located in Dallas, Texas. GWG issued a product known as L bonds, “which pooled money from bond investors to purchase life-insurance policies on the secondary market” in order to repay investors when the policies’ holders passed away. After GWG raised roughly $1.6 billion from investors, it went into Chapter 11 bankruptcy. As The DI Wire noted in April 2022, GWG’s bankruptcy filings disclosed that the company was under SEC investigation, with the probe taking a specific focus on “how bonds were sold by brokers.” More information on GWG L bonds, and whether they may have been unsuitable investments for conservative and/or unsophisticated investors, is available here.

According to the Financial Industry Regulatory Authority, Jonathan Penaloza holds four years of securities industry experience. Based in Anaheim, California, he has been a broker and an investment advisor with Centaurus Financial since 2019. He has no prior registrations. His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed in California. (Information current as of June 7, 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.

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