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Leah Christiansen: Did Kitashima Wealth Advisor Recommend L Bonds?
Records filed with a US bankruptcy court indicate that at least 15 current or former customers of Centaurus Financial advisor Leah Christiansen (CRD# 5497126) are listed as creditors for investments in GWG Holdings L bonds and/or preferred stock. The records, filed in Texas, describe investments of more than $1.7 million. Financial Industry Regulatory Authority records show that Ms. Christiansen is currently based in Anaheim, California, where she is a representative of Kitashima Wealth Advisors.
As Investment News reported, the Dallas-based financial services company GWG Holdings filed for Chapter 11 bankruptcy in April 2022. The company reportedly raised $1.6 billion from investors who purchased its product known as L bonds, “which were sold through the independent broker-dealer and RIA channels to purchase life-insurance policies on the secondary market.” The Securities and Exchange Commission launched an investigation into GWG’s account and bond issuance, as GWG disclosed in its bankruptcy filing. The SEC’s investigation reportedly focused on “how the bonds were sold by selling group firms.” By the time GWG filed for bankruptcy, it had already suspended its L bond offering “for eight months after missing the SEC filing deadline for its 2020 annual report.” It later reopened the offering, then paused sales shortly afterward, and subsequently missed an interest and principal payment to bondholders totaling $14 million. More information about GWG L bonds, and whether they may have been unsuitable for some investors, is available via this resource.
According to the Financial Industry Regulatory Authority, Leah Christiansen holds 14 years of securities industry experience. Based in Anaheim, California, she has been a broker with Centaurus Financial since 2010. She was previously registered with Wells Fargo Advisors in Indian Wells, California from 2008 until 2010. Her 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. She is licensed in Utah and Washington. (Information current as of May 31, 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.