GPB Capital Holdings

Elderly Retiree Claims Sheppard Mosher advisor Jason Mosher Overconcentrated His IRA With GPB Private Placements

Published on: June 11, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Investor Sues Kalos Capital Over GPB Capital Losses

A widower retiree in his eighties is suing Kalos Capital for losses he suffered in GPB Capital Holdings’ private placements and other risky investments that were recommended to him by Kalos broker, Jason Mosher.

The claimant contends that Mosher, who operates his business under the name Sheppard Mosher but is an employee of Kalos, overconcentrated his IRA in GPB investments and other risky securities including private Real Estate Investment Trusts (REITs) and privately traded securities. Now, this elderly investor is seeking up to $500K in damages.

Massachusetts Sues GPB Capital Holdings for Defrauding Investors of Over $14M

Published on: June 2, 2020 | by Shepherd Smith Edwards & Kantas, LLP

State Securities Regulator Claims GPB Capital Defrauded 180 Local Investors

Massachusetts Secretary of the Commonwealth, William Galvin, has filed a civil fraud lawsuit against GPB Capital Holdings accusing it of defrauding 180 local investors who purchased more than $14M of private placements in five of the GPB funds.

The alternative asset firm, which acquires waste management operations and auto dealerships, has been accused of operating a more than $1.5B Ponzi scam.

Trial of EX-GPB Capital Holdings CCO Michael Cohn is Delayed Over COVID-19 Concerns

Published on: May 6, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Cohn, Also A Former SEC Examiner, Is Charged With Obstruction

The criminal trial of Michael Cohn, the ex-GPB Capital Holdings chief compliance officer, has been postponed after he expressed concern that his pre-existing health conditions placed him at a higher risk of contracting the coronavirus (COVID-19).

Cohn is charged by federal prosecutors with obstruction of justice. The US government alleges that he took information about US Securities and Exchange Commission (SEC)’s investigation into the alternative asset firm, while he was still an SEC examiner, and shared it with GPB executives.

Christopher Shaw, Founder and President of CJS Wealth Management, is the Subject of a FINRA Complaint Involving GPB Capital Recommendations

Published on: March 3, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Elderly Investor Claims $250K in GPB Fraud Losses

In yet another GPB private placement fraud case, our broker fraud attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm) have filed a claim on behalf of an investor.

This time, the respondents are Pruco Securities and Kalos Capital, which the firm has gone after in previous private placements claims over the same investments and broker, Christopher Shaw. The claimant, who is an elderly woman from North Carolina is reporting over $250K in losses. She is seeking up to $500K in damages plus interests and other costs.

GPB Capital Sued Again: A Class Action Fraud Case and One Lawsuit by Volkswagen

Published on: February 24, 2020 | by Shepherd Smith Edwards & Kantas, LLP

GPB Capital Holdings Faces Another Fraud Lawsuit

Already the subject of mass fraud accusations, including allegations of a $1.8B Ponzi scam, the alternative assets firm is once again the defendant of two new lawsuits.

Adding to a growing list of GPB Capital lawsuits is another class action securities fraud case. The other, brought by Volkswagen of America, is accusing GPB of breaking its agreement when it fired Prime Automotive Group CEO, David Rosenberg, last year.

Shepherd Smith Edwards & Kantas Files GPB Capital Private Placement Fraud Case Against International Assets Advisory

Published on: February 20, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Texas-Based Broker Sold GPB Private Placements To Retiree Couple

Once again, Shepherd Smith Edwards and Kantas (SSEK Law Firm) has filed an investor fraud claim against a broker-dealer after its financial advisor sold investments in GPB Capital Holding’s funds to customers.

This time, the brokerage firm is International Assets Advisory (IAA), LLC and the broker involved is Williams Keen Butcher who is based in Houston.

Kristian Finfrock, Founder of Retirement Income Strategies, is the subject of Investor Complaints Over GPB Capital and Other Esoteric Investments

Published on: January 8, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Another Kalos Capital Broker Sold GPB Investments To Investors

Once again, our GPB investment lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) have filed an investor fraud lawsuit against Kalos Capital and one of its brokers, Kristian Finfrock.

In this latest broker fraud case, the Claimants are a retired couple who contend that Kalos Capital broker and investment advisor, Kristian Finfrock, pushed them into placing $750K of their life savings into alternative investments including non-traded real estate investment trusts (Non-traded REITs), annuity contracts, and GPB Capital private placements.

Shepherd Smith Edwards and Kantas Investigates Sagepoint Financial Over GPB Private Placement Sales

Published on: December 19, 2019 | by Shepherd Smith Edwards & Kantas, LLP

Sagepoint Financial Customers Suffer Losses From GPB Funds

If you are an investor who suffered losses after a Sagepoint Financial broker sold you GPB private placements, our investor fraud lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) would like to talk to you. GPB Capital Holdings is accused of running a $1.8B Ponzi scam. Sagepoint Financial is one of more than 60 broker-dealers whose registered representatives sold these investments to their customers.

Sagepoint Financial is part of Advisor Group, a huge network of independent wealth management firms. In August, the broker-dealer and another Advisor Group firm, Royal Alliance, were prominently named by the lead plaintiffs in the first class action securities case against GPB Capital. The firms’ brokers had sold them their investments in the GPB Automotive Portfolio and the GPB Holdings II funds. The plaintiffs, like so many other investors, had sustained substantive losses in the wake of the Ponzi fraud allegations, the suspension of investor redemption, the massive drop in value of all of the GPB Funds, and the other regulatory and civil troubles plaguing the alternative asset firm.

Former GPB Capital Holdings Partner Doubles Down on Ponzi Scam Claims

Published on: December 6, 2019 | by Shepherd Smith Edwards & Kantas, LLP

Ex-GPB Capital Partner Accusing Firm Of Running A Ponzi Scam

David Rosenburg, a former GPB business partner, is once more accusing GPB Capital Holdings of committing a “massive securities fraud” when it raised over $1.5B from investors. Rosenberg is a former GPB employee and the ex-CEO of its Prime Automotive Group.

Two years ago, before going to work for GPB, he sold $235M of his stake in the Prime Automotive Group to the alternative asset firm. GPB Capital fired him in September just weeks after Rosenberg sued the company in Massachusetts Superior Court and accused it of operating a major Ponzi scam.

Another GPB Capital Holdings Auditor Resigns

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

GPB Capital Auditor Makes Decision To Step Down

Once again, investors will have to wait for the audited financials that GPB Capital Holdings keeps promising them and then delaying, as the alternative asset firm’s latest auditor has suddenly resigned. This means that for the foreseeable future, those who bought the company’s private placement funds will continue not to know exactly what their investments are worth.

This is not the first team of auditors to suspend its work with GPB Capital, which invests mostly in waste management and auto dealerships and is accused of operating a $1.8B Ponzi scam.