GPB agrees to have an independent monitor oversee the firm’s operations before court forces the issue.
GPB has been the focus of multiple accusations that has led to the indictment of its Managing Director and CCO and class action lawsuits. The Wall Street Journal is now reporting that at least seven states, including Missouri, have filed allegations against GPB Capital Holdings alleging "massive fraud" in a "Ponzi-like scheme that fleeced [...]
More evidence of corruption at GPB Capital Holdings stacks up as its Managing Director and CCO is indicted. According to the indictment, when MICHAEL S. COHN left his position at the SEC to take a job with GPB, he allegedly stole sensitive and confidential information about investigations and brought that information into his new company. [...]
Embattled GPB Capital Holdings has been struck with another legal blow.
Investors who purchased private placement funds from GPB Capital paid high commissions to brokers and have suffered significant losses. GPB is facing multiple investigations by the SEC, FBI, and state agencies. GPB describes itself as an “alternative asset management company focusing on acquiring income-producing private companies.” It offers funds in several industries, including the [...]