Center Street Securities Advisor Kenneth New Subject of GWG Complaints

MERRITT ISLAND, FLORIDA

Have you lost money investing in GWG L Bonds with financial advisor Kenneth New from Merritt Island, Florida? Our investment fraud law firm is looking into Kenneth New, who has been affiliated with Center Street Securities.  FINRA’s BrokerCheck indicates that Kenneth New has been the subject of two customer complaints made since June 2022, both of which involve the sales of GWG L Bonds.  One complaint alleges $50,000 in losses in the GWG L Bonds, and the second complaint alleges $393,000 in losses.

Earlier this year, GWG Holdings filed for bankruptcy.  Financial advisors are telling clients that they will get their money back through GWG’s “reorganization”, but according to sources, investors are likely to suffer losses of about 80%.  Investors usually suffer substantial financial losses in a bankruptcy like this.  Brokers like Kenneth New and their brokerage firms who recommended to invest in GWG L bonds could be responsible to investors for the losses.

From February 2017 to the present, Kenneth New has been an advisor with Center Street Securities in a Merritt Island, Florida office.  New was also fined $3,000 by Florida in 2013 for offering gift cards to potential clients.

Our law firm is a securities arbitration and investment fraud law firm that has represented over 1,000 investors in the past.  Attorney David Neuman is licensed to practice law in Florida.  We represent investors throughout the country, including investors in Florida.

View New, k BrokerCheck 9.27.22

If you lost money with Kenneth New, Center Street Securities, or GWG, please Contact Us at 720-599-3505 for a free evaluation of your case.