GPB CAPITAL HOLDINGS ALERT - Notice to Investors Who Purchased GPB Capital Holdings Funds From Brokerage Firms
Levin Law, P.A. Continues Investigation of Sale of GPB Capital Private Placement Securities
MIAMI, March 21, 2019 /PRNewswire-PRWeb/ -- The national securities law firm, Levin Law, P.A. ("Levin Law") (http://www.levinlawpa.com) announced today that it is continuing its investigation regarding the due diligence and sales practices of securities brokerage firms who offered, recommended, or sold GPB Capital Holdings ("GPB" or "GPB Capital") funds and other private placement securities. Levin Law has already been contacted by multiple GPB investors who believe that they have suffered losses from their GPB investments.
According to public filings, there were brokerage firms around the country who sold, or who disclosed that they might be selling GPB Capital-issued funds. If you invested in a GPB fund through any brokerage firm, you may be able to pursue claims against that securities broker-dealer in a Financial Industry Regulatory Authority ("FINRA") arbitration. In addition to others, the following firms were disclosed in public filings as being authorized to sell GPB funds: Aegis Capital, Arete Wealth Management, Ascendant Alternative, Geneos Wealth, Money Concepts, Hightower Securities, and Royal Alliance. For a complete list, please visit, levinlawpa.com/gpb-capital/.
There have been multiple publicly filed lawsuits and regulatory matters alleging that GPB has been engaged in wrongdoing. In one instance, former GPB operating partner, Patrick Dibre alleged that "losses occasioned by GPB were in fact caused by a very complicated and manipulative Ponzi scheme."
In addition, InvestmentNews reported that the FBI is investigating GPB Capital Holdings. That visit occurred only months after both the US Securities and Exchange Commission ("SEC") and FINRA launched probes into the firm, which claims to have raised $1.8B from accredited, high net worth investors. In September, the State of Massachusetts announced that it was investigating 63 stock brokerage firms for selling GPB Capital Holdings-issued private placements. In November, GPB Capital announced that its auditor, Crowe LLP, had stepped down from that role over what the private placement firm's CEO David Gentile said where "perceived risks" that it felt were outside "internal risk tolerance parameters."
If you have information about the sales practices of any brokerage firm who recommended or sold GPB funds or believe that you have suffered losses in GPB funds, please contact Levin Law managing partner, Brian Levin, at 305-402-9050, brian(at)levinlawpa.com, or visit Levin Law's website, http://www.levinlawpa.com. More information about Levin Law's investigation of GPB can be found at https://www.levinlawpa.com/levin-law-investigating-brokerage-firms-that-recommended-gpb-capital-holdings-to-customers/.
Contact:
Levin Law, P.A.
Brian Levin, Esq.
305-402-9050
brian(at)levinlawpa.com
SOURCE Levin Law, P.A.
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