Securities Fraud Lawyer Blog
The securities attorneys at The Law Office of David Liebrader have opened an investigation into the securities sales by Marcel Pahmer, a registered representative affiliated with Centaurus Financial Inc. and Newport Wealth Advisors.
The pending customer dispute that gives rise to this investigation concerns Marcel Pahmer’s sales of a number of high risk private placements, including Tasty Brands LP, Carter Multifamily Growth and Income Fund and GWG Holdings “L” Bonds. Mr. Pahmer recommended these illiquid, high commission investments to an elderly client who had requested investments to provide regular income with no stock market risk for her retirement. Instead, due to an over concentration in these high risk programs, the client suffered substantial losses.
These investments, which Mr. Pahmer touted as the foundation of a retirement “income strategy” have performed badly, jeopardizing the client’s retirement; GWG Holdings L Bonds parent company filed for bankruptcy; while Tasty Brands (a pizza hut and burger king franchisee) continues to struggle with inflation and wage pressures, and Carter Multi Family reported that it was suspending distributions in October 2023. These developments are not surprising given the excessive leverage and high costs associated with these programs.