NOTICE TO RAY GALLETTE AND LORRAINE GALLETTE CUSTOMERS WHO PURCHASED GWG AND ALTERNATIVE INVESTMENTS

Contact the Law Firm of KlaymanToskes for a Free and Confidential Consultation to Discuss Pursuing a Potential Recovery of Your Losses

EL DORADO SPRINGS, MO, UNITED STATES, July 30, 2025 /EINPresswire.com/ -- National investment loss and securities law firm KlaymanToskes issues an important notice to customers of financial advisors Ray Gallette, Lorraine Gallette, and Coastal Equities (now known as Realta Equities), after their recommendations of GWG L Bonds and other alternative investments caused the law firm’s clients to suffer up to $500,000 in damages. The law firm urges all customers of Ray Gallette, Lorraine Gallette, and Gallette Financial Services who suffered investment losses to contact the firm immediately at 888-997-9956.

KlaymanToskes reports the law firm has filed a FINRA arbitration claim (Case No. 25‑01423) against Coastal Equities (now known as Realta Equities) on behalf of investors seeking to recover between $100,000 and $500,000 in damages. The customers allege they were recommended to invest in unsuitable and illiquid alternative investments at Gallette Financial Services, including GWG L Bonds, by their financial advisor Ray Gallette (CRD# 3041923).

The claim also alleges that Ray Gallette’s daughter, Lorraine Gallette (CRD# 6192487), later took over management of the clients’ portfolio and continued recommending the same pattern of unsuitable, high-risk alternative investments, despite the clients’ conservative investment objectives.

According to the claim filed by KlaymanToskes, financial advisors Ray Gallette and Lorraine Gallette recommended the clients invest in high-risk, illiquid securities, including:

- GWG L Bonds,
- GPB Capital Holdings Fund,
- US Energy,
- ATEL 8,
- EquiTrust, and
- Smart Stop REIT.

Contrary to the representations made by the Gallettes, Gallette Financial Services, and Coastal Equities, the investments were private placements that lacked liquidity and incorporated significant risk. Prior to the maturity date of the investors’ GWG L Bonds, GWG filed for Chapter 11 Bankruptcy and the investors stopped receiving monthly income and cannot access their principal invested.

With the GWG Holdings’ bankruptcy plan offering only a 3% recovery to L bondholders, affected investors may pursue an additional potential recovery through a FINRA arbitration claim. It is critical that GWG L Bond investors explore all of their legal options outside of the bankruptcy.

Customers of Ray Gallette, Lorraine Gallette, or any other financial advisor who suffered investment losses are encouraged to contact attorney Steven D. Toskes, Esq. at (888) 997-9956 or by email at investigations@klaymantoskes.com for a free and confidential consultation to discuss potential recovery options.

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 $600 million in Securities Litigation and FINRA Arbitration matters. KlaymanToskes has office locations in California, Florida, Nebraska, New York, and Puerto Rico.

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Contact

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