Former Georgia Financial Advisor Allegedly Ran Ponzi Scheme Through Southport Capital On August 20, 2021, the Securities and Exchange Commission (SEC) filed an emergency action seeking to stop a $110 million Ponzi scheme allegedly operated by ex-Oppenheimer stockbroker, John Justin Woods. The fraud, involving Horizon Private Equity III, LLC was…
Barred Stockbroker is Accused of Running Ponzi Scam That Defrauded Elderly Investors Felix S. Chu, a former NYLIFE Securities registered representative, is currently facing at least two customer disputes in which the claimants are seeking $5,230,000 in damages. Chu was barred by the Financial Industry Regulatory Authority (FINRA) last year.…
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,…
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…
Senior Investor Seeks up to $500K in Damages For Loss of Savings A retiree from Texas has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against brokerage firm Calton & Associates over losses he suffered in GPB Capital Holdings private placements and other non-publicly traded products. This investor is…
Charlotte, NC Advisor Is Named in GPB Private Placement Claims Robert Leo Luley, a financial advisor based in Charlotte, North Carolina, reportedly marketed and sold investments in GPB Automotive Portfolio from GPB Capital Holdings. The alternative asset firm is accused of running a $1.8B Ponzi scam that allowed brokers and…
FINRA Suspends Nebraska Stockbroker Who Marketed An Alleged $300M Ponzi Scam to Customers Troy Robert Baily, a former SagePoint Financial broker, has been suspended by the Financial Industry Regulatory Authority (FINRA) for six months. Baily, who is also a previously registered investment advisor, is based in Nebraska. The suspension comes…
Rand Heckler of Rand Heckler, Inc. is Now The Subject of SEC and Criminal Fraud Charges Former stockbroker Rand Allan Heckler of Long Island, New York, is facing US Securities and Exchange Commission (SEC) charges accusing him of investor fraud. Heckler, who was barred by the Financial Industry Regulatory Authority…
Texas Brothers Sue Financial Services Company for $1.5M After turning down a settlement that would have reimbursed them 60 cents for every dollar, brothers Jim and Ken Karger are suing Monex Grupo Financiero for the $1.5M they lost in an alleged decades-long Ponzi scam. This alleged scam not only defrauded…