Former Accelerated Capital Group broker Michael Barrows (CRD# 2933260) is accused of GWG Holdings Inc. investment losses. He has been registered with M Stevens Securities, LLC in Irvine, California, since 2018. Previously, he was registered with the following brokerage firms:
- Kingswood Capital Partners, LLC in Irvine, California, from 2018 to 2023
- Accelerated Capital Group in Costa Mesa, California, from 2017 to 2018
- Chalice Wealth Advisors in Costa Mesa, California, from July to September 2018
- American Asset Advisory, LLC in Costa Mesa, California, from 2017 to 2018
- Trilogy Capital, Inc. in Irvine, California, from 2016 to 2017
- National Planning Corporation in Irvine, California, from 2007 to 2017
Michael Barrows Customer Complaints
He has been the subject of three customer complaints between 2008 and 2022, two of which were denied, according to his CRD report. The most recent complaint was regarding:
August 2022. “Michael Barrows was named in a customer complaint that asserted the following causes of action: violations of federal securities laws; violations of California securities laws; violations of California Unfair, Unlawful, and Fraudulent Business Practices; breach of contract; common law fraud; breach of fiduciary duty; and negligence and gross negligence. Client purchased GWG L-Bonds in October of 2018. Claimant stated that he was not suitable after receiving interest payments for three years shortly after GWG Holdings went into bankruptcy in April 2022.” The customer was awarded $1,035,360.46 in damages. The complaint took place while he was registered with Accelerated Capital Group.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, FIRM may be liable for investment or other losses suffered by Michael Barrows’ customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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