IMPORTANT NOTICE TO AUSTIN DUTTON AND ANDREW DUTTON CUSTOMERS WHO SUFFERED LOSSES IN GWG L BONDS

If You Suffered Losses With Financial Advisor Austin Dutton Please Contact the Law Firm of KlaymanToskes

PHILADELPHIA, PA, UNITED STATES, March 21, 2025 /EINPresswire.com/ -- National investment loss and securities attorneys KlaymanToskes issues an important notice to customers of financial advisors Austin Dutton and Andrew Dutton, after their recommendations of unsuitable GWG L Bond investments caused an investor to suffer $100,000 in damages. The law firm urges all customers of Austin Dutton and Andrew Dutton who suffered investment losses to contact the firm immediately at 888-997-9956.

KlaymanToskes is currently representing many customers of barred financial advisor Austin Dutton, including several retired Philadelphia police officers who suffered losses at American Trust Investment Services and Newbridge Securities in Philadelphia, PA. The most recent FINRA arbitration claim (Case No. 25-00079) was filed against American Trust Investment Services on behalf of an investor seeking to recover $100,000 in damages after being recommended to invest in unsuitable GWG L Bond investments by her financial advisors, Austin Dutton and Andrew Dutton.

According to the claim filed by KlaymanToskes, the customer is a disabled and retired investor who relied on her investments to support her financial security. Financial advisors Austin Dutton and Andrew Dutton, through American Trust Investment Services, allegedly misrepresented the GWG L Bonds as safe and low-risk investments to the customer, failing to disclose their illiquidity and speculative nature.

KlaymanToskes’ investigation found that American Trust Investment Services and its representatives further overconcentrated the customer’s account in the high-risk alternative investments, at one point holding over $200,000 of the customer’s funds in illiquid securities, which was unsuitable for her financial situation.

Nearly three years after GWG filed for bankruptcy, the GWG Wind Down Trust has confirmed that L Bondholders will receive only approximately three cents for every dollar invested after deductions. To put this into perspective, a $100,000 investment in GWG L Bonds will yield approximately $3,000 in recovery from the bankruptcy. Given this outcome, investors must act quickly to explore recovery options. Recoveries in FINRA arbitration claims against the brokerage firms that recommended these risky investments generally yield greater results than other avenues of recovery.

Austin Dutton Jr. was permanently barred by FINRA on June 24, 2024, after multiple customer complaints related to the sale of unsuitable alternative investments. Dutton has 32 customer complaints and 4 regulatory events disclosed on his BrokerCheck report. Following his departure from American Trust Investment Services in January 2022, his son Andrew Dutton took over the customer’s account until August 2023.

Customers of Austin Dutton and/or Andrew Dutton who suffered investment losses at American Trust Investment Services are encouraged to contact attorney Steven D. Toskes, Esq. at (888) 997-9956 or by email at investigations@klaymantoskes.com in furtherance of our investigation.

About KlaymanToskes

KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.

Contact

Steven D. Toskes, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
investigations@klaymantoskes.com