Small-business | Fox Business | July 18, 2020 "Last November, a federal judge ordered an asset freeze against a California company that the Federal Trade Commission accused of pretending to be working with the Education Department and promising student-loan debt relief that never materialized. Six months later,...
Ponzi scheme | Raw Story | Matthew Chapman | July 18, 2020 "On Saturday, The Wall Street Journal reported that one of the businesses that received stimulus through the embattled Paycheck Protection Program (PPP) was a private equity firm in New York accused of running a...
GPB Capital | WealthManagement.com | Patrick Donachie | July 9, 2020 "GPB Capital, a New York-based private placement shop currently under investigation by the FBI and securities regulators, received as much as $7 million in Paycheck Protection Program (PPP) loans for COVID-19 relief, according to data...
GPB Capital | Think Advisor | Jeff Berman | July 8, 2020 "Law firm Peiffer Wolf Carr Kane & Conway slammed GPB Capital on Wednesday after the Small Business Administration disclosed GPB and its affiliated companies received $3 million to $7 million in Paycheck Protection Program...
PPP Loans | Financial Advisor | Christopher Robbins | July 8, 2020 "A private investment firm accused of operating a Ponzi-like scheme is slated to receive up to $7 million in federal Paycheck Protection Program (PPP) funds, according to data from the U.S. Small Business Administration...
“Outrageous Abuse of System” for $1.8 Billion Scheme Under Investigation by SEC & Subject of MA Legal Action to Benefit From COVID-19 Relief NEW YORK CITY//July 8, 2020//The discovery that the controversial GPB Capital Ponzi scheme is getting up to $7 million in Paycheck Protection...
Prime Automotive | The Portland Press Herald | Edward D. Murphy | June 30, 2020 "A Texas law firm said Tuesday that investors have lost $1.8 billion by putting their money into a company that owns dozens of auto dealerships around the country, including nine in Maine. The allegations...
Class action lawsuit | Fort Worth Star-Telegram | Mitch Mitchell | June 30, 2020 "Lawyers are cautioning victims of an investment scheme that allegedly bilked more than 2,000 people out of $1.8 billion to take action. Anyone who invested with GPB Capital poured money into a Ponzi scheme, said...
GPB | WealthManagement.com | Diana Britton | June 30, 2020 "A flurry of claims were filed this week against brokerages and advisors who invested client money in GPB Capital, a New York-based private placement shop currently under investigation by the FBI and securities regulators. One law firm, Peiffer...
Prime | Boston Globe | Jon Chesto | May 27, 2020 "Allegations mirror some of the concerns raised by ousted CEO in his lawsuit against investment firm The investment firm whose takeover of the Prime group of auto dealers has turned into a messy dispute with its previous chief...