GPB Private Placements

Triad Advisors Broker Darrin Cohen Under Scrutiny Over Possible GPB Private Placement Sales

Published on: February 3, 2021 | by Shepherd Smith Edwards & Kantas, LLP

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 sold to them.

Cohen is also the CEO of Wealth Enhancement & Preservation in Alpharetta, Georgia and a registered investment advisor for Red Triangle, LLC in Charleston, South Carolina.

Utah Retirees Files $500K Investor Fraud Claim Over GPB & REIT Losses After Working With Triad Advisors & Broker Michael Payne

Published on: January 11, 2021 | by Shepherd Smith Edwards & Kantas, LLP

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 trusts (REITs), including American Realty Capital Trust. Now they are seeking up to $500K in damages.

The couple worked with former Triad Advisors broker Michael Payne, who is now a broker with Proequities, Inc. in Longwood, Florida. He also is a financial representative with Payne Financial Group in Winter Springs, Florida.

Crown Capital Securities Broker Kenneth Barroga Under Scrutiny For Possibly Selling GPB Private Placements

Published on: January 6, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Watsonville, CA Financial Advisor is Also Barroga & Associates President

If you are an investor who has suffered significant losses while working with Crown Capital Securities broker, Kenneth James Barroga, our California securities fraud attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) want to talk to you.

Barroga, who also is the head of Barroga & Associates out of Watsonville, CA, may have sold GPB private placements to customers. He is both a registered stockbroker and investment advisor.

Texas Retiree Files GPB Capital Fraud Claim Against Calton & Associates

Published on: December 15, 2020 | by Shepherd Smith Edwards & Kantas, LLP

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 seeking up to $500K in damages. Arbitrators in Dallas, Texas will hear his case.

At Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com), our Dallas securities fraud attorneys are representing this claimant in his fight to recover his losses.

Customers of Peregrine Private Capital’s Robert Smith File GPB Investment Fraud Claims

Published on: November 9, 2020 | by Shepherd Smith Edwards & Kantas, LLP

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.

GPB Capital Holdings is accused of running a $1.8B Ponzi scam. Smith is one of a number of Concorde Investment Services brokers who sold this alternative asset firm’s private placements to customers.

Leo Financial Advisor and Pruco Securities Broker Robert Luley Allegedly Unsuitably Recommended GPB Automotive to Customers

Published on: November 2, 2020 | by Shepherd Smith Edwards & Kantas, LLP

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 investment advisors to earn over $165M in commissions.

There are several GPB funds, and all of them have lost money. GPB Automotive Portfolio is GPB Capital Holdings’ second-largest fund.

Investor Filed $150K GPB Private Placement Case Naming Capital Wealth Management Advisor Lee Duckworth

Published on: October 2, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Three Pending FINRA Arbitration Claims Accuse Triad Advisors Broker of Unsuitability

Lee Duckworth, the CEO of investment advisory firm Capital Wealth Management and a Triad Advisors stockbroker, was recently named in three Financial Industry Regulatory Authority (FINRA) arbitration claims accusing him of making unsuitable investment recommendations to customers.

At least one of the disputes involves private placements from GPB Capital Holdings, an alternative asset firm accused of running a more than $1.5B Ponzi scam. Duckworth is a West Warwick, Rhode Island broker and investment advisor.

Florida Retiree Loses Money in GPB Private Placements & REITs While Under Supervision Of CFG Capital Management Advisor Mark Cline

Published on: September 25, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Investor’s FINRA Arbitration Claim Seeks Damages of Up to $100K in GPB Private Placements and Other Securities

A Florida retiree has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against the brokerage firm, National Securities Corp.

The claimant contends that agents of National Securities Corp overconcentrated his account in real estate investment trusts (REITs), privately traded securities, and private placements. This included a large position in GPB Capital Holdings, which is accused of operating an over $1.7B Ponzi scam.

Dai Securities Broker Sold GPB Private Placements To Customers While At Previous Brokerage Firms

Published on: August 3, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Joseph Michaletz Named in Multiple Customer Disputes Since December 2019

Joseph Gerard Michaletz, a Dai Securities broker, is the subject of seven customer complaints that were filed over the last eight months. The allegations against him claim that he sold GPB private placements to customers for whom they were unsuitable. This happened while he was a registered representative for Concorde Investment Services and before that with Triad Advisors.

GPB Capital Holdings LLC is accused of operating a $1.8B Ponzi scam. Many brokers and their firms did not perform the proper due diligence to make sure that the GPB Funds were legitimate investments that were safe and suitable for customers.

GPB Capital Holdings Reports a Nearly $200M Drop In Assets Under Management

Published on: July 27, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Delayed Filing with the SEC Shows 45.2% Drop in AUM Over 18 Months

Last month, GPB Capital Holdings finally filed its Form ADV with the US Securities Exchange Commission (SEC) after requesting an extension from the regulator in 2019.

In the form, the alternative asset firm, which is already under siege in the wake of numerous federal and state regulator investigations, an FBI probe, and lawsuits accusing it of operating a massive Ponzi scam, reported a $196.3M decline in assets under management (AUM) over 18 months from the end of 2017 to the end of June 2019. That’s a 45.2% drop from $434.3M in AUM to $238.6M.