Shane Desherlia: $100K-$500K Bond Complaint Against Moloney Advisor

Moloney Securities financial advisor Shane Desherlia (CRD# 6800960) recently received investor complaints alleging negligence in connection with a corporate bond investment. At least one current or former customer of his is listed a creditor for an investment in GWG L bonds, according to public records. Filed with a bankruptcy court in Texas, these records describe investments totaling $100,000. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor in Jerseyville, Illinois.

Mr. Desherlia’s BrokerCheck report discloses three investor complaint. The most recent, filed in July 2023, alleges that as a Moloney Securities representative, he recommended unsuitable bond investments and acted negligently. The pending complaint alleges damages between $100,000 and $500,000.

An earlier investor complaint, also filed in July 2023, similarly alleged negligence and suitability violations in connection with a corporate bond investment. The pending complaint alleges damages of $182,000.

A third investor complaint, filed in August 2022, alleges that as a representative of Moloney Securities, he acted negligently and recommended an unsuitable corporate bond investment. The pending complaint alleges damages of $100,000.

In a statement included with each complaint’s disclosure, Mr. Desherlia defended himself against the allegations, writing: “I refute the allegations of the claim.”

More information about GWG Holdings, whose sale of L bond products is under investigation by securities regulatory authorities, can be found here.

According to the Financial Industry Regulatory Authority, Shane Desherlia holds six years of securities industry experience. Based in Jerseyville, Illinois, he has been a broker and an investment advisor with Moloney Securities 2017 and 2019, respectively. He has no prior registrations. 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 Alabama, Arizona, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Michigan, Missouri, Oklahoma, South Carolina, and Texas. (Information current as of August 21, 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.