"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 Gentile,...
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 partner, Peiffer Wolf...
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 returns." "JEFFERSON CITY, Mo. – The secretary of state’s office...
"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 department of insurance logoallegedly persuading clients to invest over $1.1...
The Obama administration’s efforts to require firms to truly work in the interests of investors has already given people better choices, a new study says. "A battle over exactly how investors should be treated when they get financial advice has been underway for years. The Obama...
"New streamlined SEC disclosure meant to aid investors often leaves them in the dark In July, millions of American investors received a new government-mandated form from their financial planners that required advisers to disclose past misdeeds. But hundreds of the firms didn’t tell the full truth,...
YieldStreet | WallStreet Journal | Dawn Lim and Dave Michaels | August 12, 2020 "SEC is investigating firm; FBI is collecting information on some of its practices Two U.S. agencies are examining investments sold by YieldStreet Inc., an online platform that pitches itself as giving people the...
GPB Capital | Law360 | August 10, 2020 "Law360 (August 10, 2020, 2:43 PM EDT) -- A former compliance examiner accused of stealing information from the U.S. Securities and Exchange Commission sought a rare criminal bench trial over prosecutors' objections on Monday, saying it is the...
“Outrageous Abuse of System” for $1.8 Billion Scheme Under Investigation by SEC & Subject of MA Legal Action to Benefit From COVID-19 Relief NEW YORK CITY//July 8, 2020//The discovery that the controversial GPB Capital Ponzi scheme is getting up to $7 million in Paycheck Protection...
“Week of Reckoning” Arrives For Swindle With 2,000 Victims & Nearly $1.8 Billion in Losses; Strong Texas Connection and Lure of String of Auto Dealerships Key to Scheme. AUSTIN, TX & NEW YORK CITY//June 30, 2020//The wheels are coming off the GPB Capital Ponzi scheme and...
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