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I'm Jeff Sonn, an attorney concentrating on securities fraud and consumer class actions. I use this blog to bring attention to regulatory filings involving financial advisors, current events in securities and cases in the financial services industry, and to help investors understand their rights and options for financial recovery. Questions? Contact me online or call anytime at 844-689-5754

Linda Jill Wimsatt, Broker with American Trust Investment Services, Named in Customer Disputes Alleging Unsuitable Investment Recommendations in GWG-L Bonds

INVESTORS: American Trust Investment Services broker Linda Jill Wimsatt was named in multiple customer disputes following allegations of selling unsuitable investments in GWG-L bonds.

Linda Jill Wimsatt (CRD: 1401802) is registered as a broker and investment adviser with American Trust Investment Services, where she’s been employed since 2022. Wimsatt was previously registered as a broker with WestPark Capital from 2017 until 2020.

Wimsatt has five disclosures on her BrokerCheck report. One disclosure relates to a personal financial matter.

January 2023 Customer Dispute

Status: Pending

Allegations: Wimsatt, recommended that [REDACTED] invest in a high-risk, high-commission, unsuitable and illiquid alternative investment, namely GWG.

Damage Amount Requested: $25,000.00

October 2022 Customer Dispute

Status: Pending

Allegations: Complaint alleges Wimsatt misrepresented GWG L Bonds/unsuitable.

Damage Amount Requested: $100,001.00

October 2022 Customer Dispute

Status: Pending

Allegations: The arbitration alleges that GWG L Bonds were misrepresented to the client and not suitable for the clients investment objectives.

June 2010 Customer Dispute

Status: Settled

Allegations: Customer alleged that she was not informed of the liquidity risk of her REIT investment and that the amount invested was not suitable.

Damage Amount Requested: $25,154.62

Settlement Amount: $12,000.00

Broker Comment: I deny any wrongdoing with regard to the recommendations made to this client. I believe all recommendations were suitable when made, and any losses experienced were the result of market forces beyond my control. This matter was settled on the advice of legal counsel to avoid the prolonged time and cost of further arbitration proceedings. 

The Sonn Law Group is currently investigating allegations surrounding Linda Jill Wimsatt. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.

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