SEC Requested Monitor to Protect GPB Fund Investors In a letter dated March 3rd, 2021, to all investors of its limited partnerships, CFO and interim CEO of GPB Capital Holdings, Rob Chmiel, notified investors that the firm has consented to a court-appointed independent monitor by the SEC to run the…
States Allege Self-Dealing: Key GPB Capital Parties Used Investors’ Money to Fund Luxury Expenses In separate lawsuits suing GPB Capital Holdings and other key parties for defrauding investors in a more than $1.8B Ponzi scam, Missouri and Illinois regulators are accusing former GPB Capital Holdings CEO, David Gentile, and Ascendant…
Regulator Wants to Prevent Alternative Asset Firm From Causing Investors More Financial Harm In U.S. District Court for the Eastern District of New York in Brooklyn, the Securities and Exchange Commission (SEC) has submitted a court filing asking that a monitor be appointed to prevent GPB Capital Holdings, LLC from…
State Lawsuits Come After SEC Complaint and FBI Arrests New York Attorney General Letitia James is suing GPB Capital Holdings along with five co-defendants for running a mass Ponzi scam. The NY AG contends that the alternative asset firm and private equity fund manager, which is based in the state,…
Claimants Had Alleged Negligence, Poor Supervision, and Other Charges A Financial Industry Regulatory Authority (FINRA) arbitration panel has awarded one customer and his trust $515K in their GPB private placement fraud claim against Arete Wealth Management. The Chicago-based brokerage firm also has been ordered to pay all of the claimant’s…
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…
Jeffry Schneider, David Gentile, and Jeffrey Lash, GPB Capital Principals Indicted Our firm has written extensively about GPB Capital and allegations that the “investments” were a massive Ponzi scheme. The U.S. District Attorney for the Eastern District of New York has indicted several of the principals of GPB Capital, and…
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…
Wealth Enhancement & Preservation CEO Named in Two Pending Investor Claims Triad Advisors stockbroker, Darrin Stuart Cohen, is currently the subject of two pending Financial Industry Regulatory Authority (FINRA) arbitration claims from customers collectively seeking $600K in damages. The allegations involve the unsuitability of investments, including alternative investments, that were…
Triad Advisors and its Ex-Florida-Based Broker Placed Claimants Funds In Too Risky GPB Capital & REIT Investments Two Utah retirees have filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Triad Advisors, Inc. over losses they suffered from investing in GPB private placements and privately traded real estate investment…