CategorySCAMS

GPB Capital fraud and bad brokers “cast doubt on enforcement efforts”

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16 Mar GPB Capital fraud and bad brokers “cast doubt on enforcement efforts” Posted at 13:13h in Blog by prwlegal201 GPB Capital made the headlines when its CEO, David Gentile, a former managing partner, Jeffrey Lash, and the CEO of Ascendant Capital, Jeffry Schneider, were arrested and charged with fraud. The SEC (Securities and Exchange Commission) also charged the trio for running a Ponzi...

GPB Capital Investors Ask Why the SEC Waited So Long to Act

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12 Feb GPB Capital Investors Ask Why the SEC Waited So Long to Act Posted at 11:04h in Blog by prwlegal201 “The Securities and Exchange Commission’s recent move to install an outside monitor to oversee private-equity firm GPB Capital Holdings LLC has prompted some of the firm’s investors and their lawyers to ask what took so long. GPB Capital’s regulatory filings show that the SEC began probing...

PEIFFER WOLF – WHAT’S NEXT FOR 17,000 VICTIMS OF THE NEARLY $2 BILLION GPB CAPITAL PONZI SCHEME?

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09 Feb PEIFFER WOLF – WHAT’S NEXT FOR 17,000 VICTIMS OF THE NEARLY $2 BILLION GPB CAPITAL PONZI SCHEME? Posted at 13:22h in Blog by prwlegal201 “Opening the Floodgates”: Major Surge in Lawsuits Expected From Thousands of GPB Capital Victims in Class Action Litigation and FINRA Arbitration Cases to Recover Lost Investments. NEW YORK CITY//February 9, 2021//The filing of criminal charges last...

$1.7 billion Ponzi scheme defrauded 17,000 investors, SEC says

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06 Feb $1.7 billion Ponzi scheme defrauded 17,000 investors, SEC says Posted at 13:46h in Blog by prwlegal201 “(CNN Business) — The US Securities and Exchange Commission charged investment adviser GPB Capital Holdings and three executives on Thursday with defrauding over 17,000 retail investors in a Ponzi-like scheme that raised over $1.7 billion. The lawsuit alleges that David Gentile, owner and...

GPB Capital Ponzi May Put $1.7 Billion at Risk, U.S. Says

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05 Feb GPB Capital Ponzi May Put $1.7 Billion at Risk, U.S. Says Posted at 13:17h in Blog by prwlegal201 “GPB Capital Holdings chief David Gentile was indicted for allegedly taking part in a Ponzi-like scheme that defrauded thousands of investors across the country and that regulators say may have put more than $1.7 billion at risk. Gentile and two other executives are accused of using the funds...

Head of NY money manager GPB Capital charged in $1.8 billion Ponzi-like fraud

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05 Feb Head of NY money manager GPB Capital charged in $1.8 billion Ponzi-like fraud Posted at 12:57h in Blog by prwlegal201 “The founder of a New York money manager and two associates were criminally charged on Thursday with running a $1.8 billion Ponzi-like fraud where thousands of victims were falsely promised steady returns on their investments. David Gentile, the chief executive of GPB...

GPB Capital Founder and CEO Indicted for Alleged Fraud

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05 Feb GPB Capital Founder and CEO Indicted for Alleged Fraud Posted at 12:51h in Blog by prwlegal201 “The U.S. Department of Justice announced the indictment Thursday of three individuals affiliated with GPB Capital, a New York-based private placement shop, with securities fraud, wire fraud and conspiracy in a scheme that raised over $1.7 billion from investors. GPB’s owner and CEO David...

PEIFFER WOLF – WE’VE BEEN WARNING FOR 18 MONTHS THAT GPB CAPITAL IS A PONZI SCHEME

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04 Feb PEIFFER WOLF – WE’VE BEEN WARNING FOR 18 MONTHS THAT GPB CAPITAL IS A PONZI SCHEME Posted at 22:46h in Blog by prwlegal201 Madoff Lesson Not Learned?  Law Firm Sounded Alarm in Mid-2019 Even as GPB Capital Got a Pass From Most on Wall Street and in the Media; “Thousands of Victims Needlessly Cleaned Out” by Delay in Action. NEW YORK CITY//February 4, 2021//Joseph Peiffer, managing...

255 Missourians fell victim to Ponzi scheme; over $24 million in restitution being sought

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04 Feb 255 Missourians fell victim to Ponzi scheme; over $24 million in restitution being sought Posted at 13:13h in Blog by prwlegal201 Ponzi scheme – David Gentile, Jeffry Schneider, Jeffrey Lash and their companies (GPB Capital Holdings, Ascendant Capital and Ascendant Alternative Strategies) “raised more than $1.8 billion by luring individuals to invest with misleading promises of reliable...

Former Santa Ana Insurance Agent Arrested in $1.1 Million Securities Fraud Scheme, California Department of Insurance Reports

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01 Dec Former Santa Ana Insurance Agent Arrested in $1.1 Million Securities Fraud Scheme, California Department of Insurance Reports Posted at 16:37h in Blog by prwlegal201 “November 30, 2020 – ORANGE, Calif. — Former insurance agent Brian Fredric Sauls, 48, of Santa Ana, was arrested on 13 felony counts of securities violations, theft from an elder, and residential burglary after california...

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