How to Recover Losses on GPB Funds
November 2021
GPB Alleged to be a Ponzi-Like Scheme
GPB raised over $1.8 billion in high risk private placements that were sold to investors in $50,000- $100,000 increments. Countless lawsuits and arbitrations by individuals as well as several states allege that GPB was running a Ponzi-like scheme. According to the U S Securities & Exchange Commission (SEC) as many as 17,000 investors have been affected. Cumulative losses as a result of this fraud may exceed $500 million. Many of the victims are retirees who rely upon their nest egg to survive.
Between 2013 and 2018 GPB Capital’s principals lured investors with promises of monthly payments totaling an 8% annual rate which they claimed would be fully funded with cash flow from the portfolio companies, however its alleged that capital provided by other investors was used to fund the promised payments—a classic Ponzi scheme.
GPB Funds Were Sold by 80 or More Brokerage Firms
GPB Funds may have been sold by as many as 80 independent broker dealers nationwide. Brokerage firms who may have sold GPB Funds include: Aegis Capital, American Capital Partners, Arkadios Capital, Ascendant Alternative Strategies, Cabot Lodge Securities, Capital Financial Services, Coastal Equities, Concorde investment Services, Crown Capital Securities, Financial West Group, FSC Securities, Geneos Wealth Management, Great Point Capital, Kalos Capital, Lion Street Financial, Madison Avenue Securities, Money Concepts Capital, National Securities Corp., Purshe Kaplan Sterling Investments, Royal Alliance Associates, Sagepoint Financial, TD Ameritrade, Western International and Woodbury Financial Services.
The GPB offerings include:
- GPB Holdings
- GPB Holdings I & II
- GPB Automotive Portfolio
- GPB Waste Management
- GPB Eurobond
- GPB NYC Development
- GPB Cold Storage
- GPB Scientific
- GPB Holdings Qualified
States With Pending Actions Involving GPB Capital
According to the North American Securities Administrators Association (NASAA) securities regulators from seven states, Alabama, Georgia, Illinois, Missouri, New Jersey, New York and South Carolina, have brought actions against GPB and its principals, including. GPB Capital, Ascendant Alternative Strategies, Texas based Ascendant Capital , David Gentile, Jeffry Schneider and Jeffrey Lash. Link to NASAA press release.
Individual Investors May Recover Damages Through
FINRA Arbitration
If you are a victim of the GPB fraud you may be able to recover damages by pursuing a claim in FINRA arbitration. This is a process much simpler and much more expedient than court litigation. Most cases are handled on a contingent fee basis, meaning you only pay legal fees upon successful recovery of damages. Cases are generally resolved in about 12 months.
If you have questions about how you can recover your losses on GPB Funds, contact us for a no charge consultation to speak with an experienced securities attorney.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
Nationwide Representation
TollFree: 877-224-3199
Florida-561 391 1900
Texas-512-329-2870