GPB Ponzi Scam

US Government Reaches Out to GPB Capital Investors Who Were Harmed

On December 23, 2021, the US Department of Justice sent a letter to those who have been identified as victims or potential victims of GPB Capital Holdings, LLC‘s more than $1.8B Ponzi scheme.

The notice comes in the wake of the federal government’s criminal case against GPB founder and owner David Gentile, ex-GPB managing partner Jeffrey Lash, and Ascendant Capital CEO Jeffry Schneider. These individuals were are all charged with securities fraud, wire fraud, and conspiracy related to the alleged Ponzi scheme.

Regulator Wants to Prevent Alternative Asset Firm From Causing Investors More Financial Harm

In U.S. District Court for the Eastern District of New York in Brooklyn, the Securities and Exchange Commission (SEC) has submitted a court filing asking that a monitor be appointed to prevent GPB Capital Holdings, LLC from committing more alleged misconduct and disposing of any assets that could be used to recover investors’ money. The regulator is suing the alternative asset firm for allegedly defrauding more than 17,000 investors in an over $1.7B Ponzi scam.

The SEC contends that having a monitor is warranted and needed. The Commission wants to give this person broad powers over “non-privileged books, records, and account statements for the entities and assets” related to GPB Capital Holdings’ portfolio companies and funds.

Articles Tagged with GPB Ponzi Scam

DOJ Sends Letter to GPB Ponzi Scheme Victims

US Government Reaches Out to GPB Capital Investors Who Were Harmed

SEC Seeks Court-Appointed Monitor To Protect Investors Victimized In Mass GPB Capital Ponzi Scam

Regulator Wants to Prevent Alternative Asset Firm From Causing Investors More Financial Harm