Investor Lawyers Blog

Fidelity’s National Financial Services Orders GPB Private Placements Removed

Published on: July 25, 2019 | by Shepherd Smith Edwards & Kantas, LLP

National Financial Services, which is Fidelity Investments’ clearing and custody unit, has given its brokerage firm clients 90 days to get rid of all GPB Capital Holdings private placements from its platform. The announcement means that investors and their financial advisers will have to move their GPB fund assets to a different custodial firm. Considering […]

SSEK Investigates Woodbury Financial Broker Daryl Serizawa Over GPB Capital Private Placements

Published on: January 21, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Woodbury Financial Services Representative Accused Of GPB Private Placements Sales If you are an investor who was sold GPB Capital private placements by Woodbury Financial Services broker Daryl Serizawa, our broker fraud lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) want to talk to you. Serizawa is one of the hundreds of financial […]

Brokerage Firms Made over $165 Million for Selling GPB Capital Private Placements

Published on: July 1, 2019 | by Shepherd Smith Edwards & Kantas, LLP

Investment News is reporting that broker-dealers and their brokers that sold GPB Capital Holdings private placements to investors have collectively been paid $167 million in commissions. That large number represents 9.3% of the $1.8 billion that supposedly accredited, wealthy investors paid for these risky private placements. Recent reports had estimated that the commissions paid were […]

Claim Filed Against Arkadios Over GPB Capital Private Placements

Published on: May 3, 2019 | by Shepherd Smith Edwards & Kantas, LLP

An investor in GPB Capital has filed a Financial Industry Regulatory Authority (FINRA) Claim against Arkadios Capital and one of its brokers over losses she sustained to her IRA after she followed the financial adviser’s recommendation to invest in GPB Capital Holdings. Now she is claiming retirement fund losses in the hundreds of thousands of […]

FINRA and SEC Reportedly Probe GPB Capital Holdings and The Brokerage Firms That Sold Its Private Placements

Published on: December 24, 2018 | by Shepherd Smith Edwards & Kantas, LLP

According to InvestmentNews, sources are reporting that GPB Capital Holdings is now under investigation by both the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). The probes come just a few months after Massachusetts Secretary of the Commonwealth William Galvin announced that he was conducting a widespread probe into over 60 […]

GPB Capital Holdings Stops Selling Private Placements in GPB Funds to Investors

Published on: August 20, 2018 | by Shepherd Smith Edwards & Kantas, LLP

With already $1.8B in investor funds, GPB Capital Holdings is now placing a pause on raising more funds while it concentrates on putting in order the accounting and financial statements of two of its biggest funds, the GPB Automotive Portfolio and the GPB Holdings II. Both, collectively have raised nearly $1.3B in investor money. To […]

FINRA Fines National Securities $9M Over GPB Private Placement Sales

Published on: July 5, 2022 | by Shepherd Smith Edwards & Kantas, LLP

Broker-Dealer Ordered to Pay Customers More Than $625K in Restitution The Financial Industry Regulatory Authority (FINRA) sanctioned National Securities Corporation for about $9M, including $4.77M disgorgement in net profits. The broker-dealer allegedly tried to artificially impact the market for GPB private placements involving several public offerings while serving as the underwriter. GPB Capital Holdings is […]

SEC Recommends Receivership For GPB Capital Holdings

Published on: June 27, 2022 | by Shepherd Smith Edwards & Kantas, LLP

Regulator Seeks To Protect Nearly $1B of Investor Assets From Founder Accused of Over $1.8B Ponzi Scam. The US Securities and Exchange Commission (SEC) and court-appointed monitor Joseph Gardemal recommend the appointment of receivership to protect almost $1B of investors’ assets from GPB Capital Holdings owner and founder David Gentile. Other executives and founders of […]

Advisor Group Broker-Dealers Facing $19.4M in GPB Capital Holdings Investor Claims

Published on: March 11, 2022 | by Samuel B. Edwards

In Focus Reports submitted to the US Securities and Exchange Commission (SEC) in February 2022, four brokerage firms from the Advisor Group network disclosed that they were respondents in 58 Financial Industry Regulatory Authority (FINRA) arbitration cases. These arbitration cases, from July 2019 through the end of 2021, were over GPB-related losses. GPB Capital Holdings, […]

MSC-BD Ordered to Pay Widow $221K Over GPB Private Placement Losses

Published on: February 28, 2022 | by Shepherd Smith Edwards & Kantas, LLP

Former MSC-BD Broker Robert Fehrman Made Unsuitable GPB Private Placement Recommendations A Financial Industry Regulatory Authority (FINRA) arbitration panel has awarded a widow $221K in compensatory damages, legal fees, and costs against brokerage firm MSC-BD, LLC over losses she sustained in GPB private placements. GPB Capital Holdings is accused of running a more than $1.8B […]