Justice Department Files Parallel Criminal Charges Against GPB Capital’s David Gentile and Others The Securities and Exchange Commission (SEC) has filed civil charges against GPB Capital Holdings CEO and owner David Gentile, ex-GPB managing partner Jeffrey Lash, Ascendant Capital owner Jeffry Schneider, and affiliated entities, including Ascendant Alternative Strategies, of…
Ex-Prime Automotive Group CEO Accused Alternative Asset Firm of Running Massive Ponzi Scam A Massachusetts Superior Court judge says the majority of the lawsuit filed by former Prime Automotive Group CEO, David Rosenberg, can move forward. Rosenberg, in his complaint, claims that he was fired and retaliated against after he…
Retail Investors Make Stock Market History The week of January 25, 2021, saw a remarkable market event where retail investors bid up the price of a handful of stocks in an attempt to force a “short-squeeze” on major Wall Street hedge funds. When an investor “shorts” a stock, which is…
Ex-LPL Broker Marketed Non-Traded Investments To Mississippi Retiree A retired investor has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against LPL Financial and its former broker, Tamber King Proctor, seeking up to $100K in damages. The claimant contends that LPL Financial and Proctor should have never recommended that…
Florida-Based Financial Management Company Employee Allegedly Stole Money Albertín Aroldis Chapman de la Cruz, the star relief pitcher for the New York Yankees, has filed an investment fraud lawsuit against Pro Management Resources and several individuals. The financial management and tax planning company reportedly has also been serving as Chapman’s…
Risky, Illiquid Business Development Company Was Not Suitable for Many Investors If you are someone who invested in the Sierra Income Corporation, you may have lost money. This business development company (BDC) is a non-traded investment. Earlier this year, Sierra Income suffered losses after its announced merger with Medley Capital…
High Net Worth Individual Investor Alleges That UBS Group AG Persuaded Him To Buy On Margin Guo Wengui, a rich Chinese businessman exiled in New York, has filed a lawsuit against UBS Financial Group after losing $500M. Wengui contends that the bank pressured him into borrowing funds to invest in…
Ex-Concorde Investment Services Broker Allegedly Made Negligent Recommendations Robert Scott Smith, the President of Peregrine Private Capital in Newberg, Oregon, and a former Concorde Investment Services, is named in multiple Financial Industry Regulatory Authority (FINRA) arbitration claims by former customers that invested in GPB private placement funds at his recommendation. …
Investment Advisor Allegedly Defrauded Senior Investors to Fund Lavish Lifestyle The US Securities and Exchange Commission (SEC) has filed charges against Mark Joseph Boucher, a California-based investment adviser, and his firm, Strategic Wealth Advisor Group Services. Boucher and Strategic Wealth Advisor Group are accused of stealing $2.2M from older customers,…
Pending Customer Complaints Seek $250K and $1M, Respectively If you or someone you love lost money while working with stockbroker Walter Roland Valenzuela, our investor attorneys want to speak with you. Valenzuela, who became a Kestra Investment Services broker this year, has been the subject of 10 customer complaints during…