Tr?id=566623520170033&ev=PageView&noscript=1

GWG Senior Executives Resign Amidst Bankruptcy

Posted on November 29th, 2022 at 2:02 PM
GWG Senior Executives Resign Amidst Bankruptcy

GWG Holdings, the financial services firm that is facing Chapter 11 bankruptcy, has announced that the company’s chief executive officer, Murray Holland, and the company’s chief financial officer, Timothy Evans, have each resigned as executive officers. However, Holland and Evans remain as members of the board of directors of GWG. 

Furthermore, GWG has submitted an amended 8-k filing with the Securities and Exchange Commission (SEC). According to the filing, the investigations committee of the current board of directors reported that GWG had previously falsely reported that the resignations of former board members Roy Bailey, Daniel Fine, and Jeffrey MacDowell in March 2021 were not related to disagreements with GWG. The investigations committee informed the current board that the resigning officers had taken issue with certain parameters of a proposed investment GWG was contemplating, according to the updated filing. 

GWG has faced a series of resignations after the company filed for Chapter 11 bankruptcy in April 2022. GWG was involved in an SEC investigation earlier this year relating to how its L bonds were marketed to clients, which helped pave the path to bankruptcy as GWG struggled to raise additional capital. Shares of GWG have fallen from $10.55 to $1.03 over the past 12 months. 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

Tags:

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

If the regulators are after you, and are trying to make a case against you, and you are going to contest their allegations against you, make sure you have the best securities industry defense lawyers, Eccleston Law Firm. My case was spun into a combination of penalties including fines, cash settlements, CE courses and suspension. They were the best I have seen in action. When all was said and done, they had done their magic, my situation was negotiated and settled with a simple "letter of caution" and a case closed without action. It is the most important legal business decision you will ever make, make it Eccleston Law.

Rick R.

LATEST NEWS AND ARTICLES

1776438642 Law
April 17, 2026
Florida Advisor Sentenced to 90 Months for Foreign Currency Ponzi Scheme and Tax Evasion

A federal court sentenced John A.

1776353258 Law
April 16, 2026
Former Financial Advisor Pleads Guilty to $10 Million Fraud Scheme Targeting Elderly Client

A former financial advisor has pleaded guilty to wire fraud after orchestrating a scheme that stole nearly $10 million from an elderly client, according to reporting by Financial Advisor News.

1776286541 Law
April 15, 2026
Court Issues Split Ruling in Edelman Advisor Dispute

A federal court in Delaware has delivered a mixed decision in a dispute between Edelman Financial Engines and Prime Capital Financial, underscoring the legal limits of restrictive covenants in the advisory space.