Lost Money in GPB Capital Funds?

SEC charges GPB Capital with Defrauding over 17,000 investors

OAKLAND, Calif.--()--New York-based asset management firm GPB Capital has been charged by the SEC for allegedly defrauding over 17,000 investors in a $1.7 billion Ponzi-like scheme, making misrepresentations in their offering and marketing materials, and violating whistleblower laws. The complaint charges GPB Capital Holdings, GPB officials and affiliated entities with making misrepresentations to investors about millions of dollars in fees for over four years. GPB Capital was previously charged with misleading investors in May of 2020 by the Massachusetts Securities Division. In addition, Gibbs Law Group has already filed numerous legal claims on behalf of investors of GPB Capital Funds and continues to investigate new claims on behalf of GPB investors. Our GPB Capital lawsuits involve claims against the brokerage firms that sold GPB funds to investors.

To speak privately with an attorney about recovering your losses in GPB, click here.

On February 4, 2021, the SEC filed a complaint against GPB officials and affiliates for defrauding investors and against GPB Capital for retaliating against a whistleblower. The complaint alleges that David Gentile, GPC Capital’s owner and CEO, and Jeffry Schneider, owner of GBP Capital’s affiliate Ascendant Capital, falsely told investors that an 8% annualized distribution payment came exclusively from monies generated by CPB Capital’s portfolio companies. In reality, according to the complaint, the payment was partially covered by new investors’ monies. Jeffrey Lash, former managing partner of GPB Capital, was also charged with allegedly manipulating financial statements to perpetuate this falsehood.

Further, GPB Capital is charged with allegedly violating whistleblower laws by including language in its contracts that impeded potential whistleblowers, as well as allegedly retaliating against a known whistleblower.

Our law firm is pursuing legal claims against the more than 60 brokerage firms that sold GPB to investors, including Sagepoint Financial, Woodbury Financial Services, FSC Securities and Advisor Group. GPB investors are encouraged to contact our firm to learn more.

What Should GPB Investors Do?

If you invested in a GPB fund, you may be able to recover your losses. Visit our website or contact our securities team directly at (888) 410-2925 to speak privately with a securities attorney to learn about your legal options.

About Gibbs Law Group

Gibbs Law Group is committed to protecting the rights of investors and consumers nationwide who have been harmed by corporate fraud and misconduct. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Titans of the Plaintiffs Bar,” “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “California Lawyer Attorney of the Year,” “Top Class Action Attorneys Under 40,” “Consumer Protection MVP,” and “Top Cybersecurity/ Privacy Attorneys Under 40.”

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Contacts

CONTACT: CATHERINE CONROY
PHONE: 510.350.9705
EMAIL: CRC@CLASSLAWGROUP.COM

Release Summary

Gibbs Law Group is investigating potential legal claims on behalf of GPB Capital investors following SEC charges.

Contacts

CONTACT: CATHERINE CONROY
PHONE: 510.350.9705
EMAIL: CRC@CLASSLAWGROUP.COM