GPB Private Placements

Shepherd Smith Edwards and Kantas Investigates Sagepoint Financial Over GPB Private Placement Sales

Published on: December 19, 2019 | by Shepherd Smith Edwards & Kantas, LLP

Sagepoint Financial Customers Suffer Losses from GPB Private Placements and Funds

If you are an investor who suffered losses after a Sagepoint Financial broker sold you GPB private placements, our securities fraud lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) would like to talk to you. GPB Capital Holdings is accused of running a $1.8B Ponzi scam. Sagepoint Financial is one of more than 60 broker-dealers whose registered representatives sold these investments to their customers.

Sagepoint Financial is part of Advisor Group, a huge network of independent wealth management firms. In August, the broker-dealer and another Advisor Group firm, Royal Alliance, were prominently named by the lead plaintiffs in the first class action securities case against GPB Capital. The firms’ brokers had sold them their investments in the GPB Automotive Portfolio and the GPB Holdings II funds.

Shepherd Smith Edwards and Kantas Investigates Kalos Capital Broker Darren Kubiak Over GPB Investments and Exchange-Traded Funds Sales

Published on: December 17, 2019 | by Shepherd Smith Edwards & Kantas, LLP

Kalos Capital Broker Sold GPB Private Placements and LIETFs

Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm) is investigating customer complaints involving Darren Michael Kubiak, a Kalos Capital broker who is currently suspended from the industry for three months. Kubiak is one of the Kalos representatives who sold GPB Capital Holdings private placements to investors. GPB is accused of operating a $1.8B Ponzi scam.

Kubiak Suspended By FINRA

First Broker Fraud Case Involving GPB Capital Investments Gears Up for Spring FINRA Hearing

Published on: December 12, 2019 | by Shepherd Smith Edwards & Kantas, LLP

GPB Capital Fraud Victim To Have Case Heard By FINRA

An investor who lost significant sums after she was sold GPB Capital private placements by an Arkadios Capital broker will get her case heard before a Financial Industry Regulatory Authority arbitration (FINRA) panel in April 2020.

This will likely be the first broker fraud complaint involving GPB investments to go before the self-regulatory organization’s (SRO’s) arbitrators.

Another GPB Capital Holdings Auditor Resigns

Published on: December 3, 2019 | by Shepherd Smith Edwards & Kantas, LLP

GPB Capital Auditor Makes Decision To Step Down

Once again, investors will have to wait for the audited financials that GPB Capital Holdings keeps promising them and then delaying, as the alternative asset firm’s latest auditor has suddenly resigned. This means that for the foreseeable future, those who bought the company’s private placement funds will continue not to know exactly what their investments are worth.

This is not the first team of auditors to suspend its work with GPB Capital, which invests mostly in waste management and auto dealerships and is accused of operating a $1.8B Ponzi scam.

National Financial Services Gives GPB Investors Deadline to Move Investments To Another Platform

Published on: November 26, 2019 | by Shepherd Smith Edwards & Kantas, LLP

National Financial Services Customers Have 60 Days To Transfer GPB Investments

Five months after announcing that investors of GPB Capital Holdings private placements would no longer be carrying these alternative investments (AI) on its platform, National Financial Services (NFS) is sending letters to customers notifying them that they have 60 days after January 14, 2020, to transfer their GPB Holdings II securities.

The GPB Holdings II securities must be transferred to another custodian broker or their alternative investment (AI) positions will be registered directly in their name. This is one of the larger GPB private placement funds that, as of June, had reported a 25.4% drop in value. National Financial Services (NFS) is a Fidelity Investments clearing and custody unit.

Shepherd Smith Edwards and Kantas Pursues GPB Capital Investor Fraud Claim Against Kalos Capital, Ameriprise Financial and Ex-Broker Gary Imel

Published on: November 20, 2019 | by Shepherd Smith Edwards & Kantas, LLP

Our investment fraud lawyers at Sheperd Smith Edwards and Kantas, LLP (SSEK Law Firm) represent a number of investors who have suffered losses from investing in GPB private placements that were sold to them by brokerage firms and their brokers.

Kalos Capital and Ameriprise Financial (AMP) are of these broker-dealers. Our broker fraud attorneys have filed a brokerage firm misconduct claim against them on our client’s behalf. This is not our first GPB investor fraud claim involving Kalos Capital.

GPB Investor Fraud Claim: Kalos Capital, Ameriprise Financial & Ex-Broker Gary Imel Investigated

Kalos Financial Sends Letter to Investor Defending Its Sale of GPB Private Placements

Published on: November 14, 2019 | by Shepherd Smith Edwards & Kantas, LLP

Kalos Financial Defends Its Sale Of GPB Private Placements

In a letter issued to investors on November 4th, Kalos Financial President, Larry Lyons, reported that its due diligence team recently met with senior GPB Capital Holdings executives including CEO, David Gentile.

The brokerage firm is one of dozens of broker-dealers under fire for selling GPB private placements that were issued by the asset management company, which has since been accused of operating a $1.8B Ponzi fraud.

Newbridge Securities, Under Investigation for GPB Private Placement Sales, Fined $225K for Inadequate Supervision

Published on: October 30, 2019 | by Shepherd Smith Edwards & Kantas, LLP

Newbridge Securities in Boca Raton, a Florida-based broker-dealer, is censured by the Financial Industry Regulatory Authority (FINRA) and has been fined $225K over its purported failure to adequately supervise the sale of exchange-traded funds, structured notes, and other complex securities.

The self-regulatory authority (SRO) also fined the firm’s investment banking director, Bruce Jordan, $5K for failing to properly supervise the sales. He is suspended for two months.

GPB Private Placement Lawyers

GPB Capital CCO Michael Cohn is Charged with Obstruction

Published on: October 25, 2019 | by Shepherd Smith Edwards & Kantas, LLP

GPB Capital News: Michael Cohn Facing Obstruction Charges

The US Department of Justice (DOJ) has filed criminal charges against Michael Cohn, the Chief Compliance Officer and Managing Director of GPB Capital Holdings. Cohn is a former US Securities and Exchange Commission (SEC) examiner.

The obstruction of justice charge is related to the regulator’s probe into the alternative asset firm, which is accused of operating a $1.5B Ponzi scam. Now, Cohn is accused of stealing information from the Commission before leaving the regulator last October to start his employment at GPB Holdings.

What’s The Connection Between Kalos Capital And GPB Capital?

Published on: October 10, 2019 | by Shepherd Smith Edwards & Kantas, LLP

Kalos Capital And GPB Capital: What Is Their Connection?

Shepherd Smith Edwards and Kantas (SSEK Law Firm) is continuing to investigate and file cases against Kalos Capital and its financial advisors in relation to GPB Capital investments. Kalos Capital is a FINRA licensed broker-dealer which is a subsidiary of Kalos Financial. Both are based our of the same address in Alpharetta, Georgia.

According to Kalos’s BrokerCheck Report (FINRA’s official record of firms and brokers), Kalos Financial owns 75% or more of Kalos Capital. According to its website, Kalos Financial was founded by David and Carol Wildermuth in 2004.