The SEC recently requested an emergency court action that would impose an outside monitor to oversee the private-equity firm GPB Capital Holdings LLC after years of accusations and litigation. The emergency court action followed months of trying to place a monitor, only to fail to reach an agreement with the firm voluntarily. However, in light of the filing, GPB agreed to have an independent monitor oversee the firm’s operations on Feb 11, before the court met to decide the case.

The SEC began investigating GPB as early as 2018 and investors are asking why it has taken so long for the SEC to act more assertively. New York Attorney General, Letitia James, has described GPB’s scheme as a $1.7 billion Ponzi-like scheme that has cost investors more than $700 million. New York has joined six other states, including Missouri, and federal agencies in suing the firm. 

Read Full Article

If you are an investor who purchased a GPB Capital product, contact us. You may have a claim of securities mismanagement or broker-dealer misconduct. We may be able to help you reclaim losses suffered.

More GPB News

SEC Monitor Installed at GPB Capital Holdings

February 19th, 2021|Comments Off on SEC Monitor Installed at GPB Capital Holdings

The SEC recently requested an emergency court action that would impose an outside monitor to oversee the private-equity firm GPB Capital Holdings LLC after years of accusations and litigation. The emergency court action followed [...]

More Fallout at GPB Capital

February 11th, 2021|Comments Off on More Fallout at GPB Capital

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 [...]

GPB Managing Director and CCO Indicted for Obstruction of Justice

November 9th, 2019|Comments Off on GPB Managing Director and CCO Indicted for Obstruction of Justice

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 [...]

Class Action Filed against GPB and Complicit Brokers

November 7th, 2019|Comments Off on Class Action Filed against GPB and Complicit Brokers

Embattled GPB Capital Holdings has been struck with another legal blow. Investors recently filed a class action complaint that alleges GPB breached its fiduciary duty by failing to produce timely and accurate financial statements and [...]

GPB Capital Faces Scrutiny, Accusations

September 12th, 2019|Comments Off on GPB Capital Faces Scrutiny, Accusations

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 [...]