Former GWG CEO Resigns From Board

Posted on December 16th, 2022 at 1:27 PM
Former GWG CEO Resigns From Board

From the Desk of Jim Eccleston at Eccleston Law.

GWG Holdings announced its bankruptcy earlier this year, which has resulted in the resignations of multiple members of its board of directors.

The former president and chief executive officer, Murray Holland, resigned as an executive officer of the company in November. Further, the investigations committee of the current board of directors has reported in an amended 8-k filing with the SEC that the company previously had falsely reported that the resignations of former board members were not a result of any disagreements with the company. According to the amended filing, however, the resignations of Roy Bailey, Daniel Fine, and Jeffrey MacDowell in March 2021 occurred primarily due to disagreements with GWG.

The investigations committee notified the current board that the resigning executives had taken issue with certain terms of a potential investment GWG was considering, according to the amended filing. Holland additionally submitted a letter to the board noting his disagreement with the findings of the board’s investigation committee. Independent directors Tony Horton and Jeffrey Stein, the company’s president, chief executive officer and chief restructuring officer, respectively, remain on GWG’s board of directors.

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

Tags: eccleston, eccleston law, advisors, law, ceo, gwg

Return to Archive

TESTIMONIALS

Previous
Next

If you find yourself in trouble with the regulators, call Eccleston Law, you won't regret it.

Rick R.

LATEST NEWS AND ARTICLES

November 6, 2025
Former Ameriprise Broker Ordered to Pay $2.2 Million for Elder Exploitation

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Eric A. Dupre to pay nearly $2.2 million in damages to his former firm and two customers following allegations of theft and elder exploitation.

November 5, 2025
Former Wells Fargo Representative Suspended for Unauthorized Texting and Obstruction

The Financial Industry Regulatory Authority (FINRA) has suspended former Wells Fargo representative Eyan M. Townsend for one year and fined him $10,000 for using personal text messages to conduct business and attempting to obstruct an internal investigation by deleting those communications.

November 4, 2025
FINRA Suspends Former Morgan Stanley Advisor Over $180,000 in Improper Transfers

The Financial Industry Regulatory Authority (FINRA) suspended former Morgan Stanley advisor C.J. Kline for two years and imposed a $5,000 fine for allegedly executing more than $180,000 in improper fund transfers between his personal and brokerage accounts.