"The Securities and Exchange Commission’s recent move to install an outside monitor to oversee private-equity firm GPB Capital Holdings LLC has prompted some of the firm’s investors and their lawyers to ask what took so long. GPB Capital’s regulatory filings show that the SEC began probing...
“Opening the Floodgates”: Major Surge in Lawsuits Expected From Thousands of GPB Capital Victims in Class Action Litigation and FINRA Arbitration Cases to Recover Lost Investments. NEW YORK CITY//February 9, 2021//The filing of criminal charges last Thursday (February 4th) against GPB Capital on the grounds that...
"(CNN Business) — The US Securities and Exchange Commission charged investment adviser GPB Capital Holdings and three executives on Thursday with defrauding over 17,000 retail investors in a Ponzi-like scheme that raised over $1.7 billion. The lawsuit alleges that David Gentile, owner and CEO, Jeffry Schneider,...
"GPB Capital Holdings chief David Gentile was indicted for allegedly taking part in a Ponzi-like scheme that defrauded thousands of investors across the country and that regulators say may have put more than $1.7 billion at risk. Gentile and two other executives are accused of using...
"The founder of a New York money manager and two associates were criminally charged on Thursday with running a $1.8 billion Ponzi-like fraud where thousands of victims were falsely promised steady returns on their investments. David Gentile, the chief executive of GPB Capital Holdings LLC, was...
"The U.S. Department of Justice announced the indictment Thursday of three individuals affiliated with GPB Capital, a New York-based private placement shop, with securities fraud, wire fraud and conspiracy in a scheme that raised over $1.7 billion from investors. GPB’s owner and CEO David Gentile,...
Madoff Lesson Not Learned? Law Firm Sounded Alarm in Mid-2019 Even as GPB Capital Got a Pass From Most on Wall Street and in the Media; “Thousands of Victims Needlessly Cleaned Out” by Delay in Action. NEW YORK CITY//February 4, 2021//Joseph Peiffer, managing partner, Peiffer Wolf...
Ponzi scheme – David Gentile, Jeffry Schneider, Jeffrey Lash and their companies (GPB Capital Holdings, Ascendant Capital and Ascendant Alternative Strategies) "raised more than $1.8 billion by luring individuals to invest with misleading promises of reliable returns." "JEFFERSON CITY, Mo. – The secretary of state’s office...
GPB Capital | Law360 | August 10, 2020 "Law360 (August 10, 2020, 2:43 PM EDT) -- A former compliance examiner accused of stealing information from the U.S. Securities and Exchange Commission sought a rare criminal bench trial over prosecutors' objections on Monday, saying it is the...
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,...