{"id":18219,"date":"2019-08-19T10:54:30","date_gmt":"2019-08-19T15:54:30","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=18219"},"modified":"2019-08-30T10:56:51","modified_gmt":"2019-08-30T15:56:51","slug":"investors-of-gpb-capital-holdings-funds-file-class-action-securities-fraud-lawsuit","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/investors-of-gpb-capital-holdings-funds-file-class-action-securities-fraud-lawsuit\/","title":{"rendered":"Investors of GPB Capital Holdings Funds File Class Action Securities Fraud Lawsuit"},"content":{"rendered":"

The first class action securities case against GPB Capital Holdings<\/a> has been filed. The alternative asset management firm, which invests in waste auto management companies and car dealerships, is accused of operating a $1.8B dollar Ponzi scam that caused thousands of investors to suffer major losses. Now, investors of two of its funds are demanding that GPB fulfill its duty to provide yearly audited statements. GPB has not issued these statements since 2017.<\/p>\n

The lead plaintiffs in the case, Victor Wade of Texas and Karen Loch of Georgia, both bought into the GPB funds as limited partnerships. Wade invested $50K in GPB Holdings II through Sagepoint Financial. Loch invested $75K in GPB Automotive via Royal Alliance Associates. Both brokerage firms are Advisor Group, Inc. subsidiaries.<\/p>\n

Loch and Wade are suing on behalf of investors of the GPB Holdings II fund<\/a> and the GPB Automotive Portfolio Fund<\/a>. They have named the two funds, GPB Capital Holdings, its CEO David Gentile, COO Roger Anscher, CFO William Jacoby, and a number of Doe parties as the defendants.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The first class action securities case against GPB Capital Holdings has been filed. The alternative asset management firm, which invests in waste auto management companies and car dealerships, is accused of operating a $1.8B dollar Ponzi scam that caused thousands of investors to suffer major losses. Now, investors of two of its funds are demanding […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3804,3762,3772],"tags":[4162,4160,3188,3767,3530,4161],"class_list":["post-18219","post","type-post","status-publish","format-standard","hentry","category-class-action-lawsuits","category-current-investigations","category-private-placements","tag-advisors-group","tag-gpb-automotive","tag-gpb-capital-holdings","tag-gpb-holdings-ii","tag-royal-alliance","tag-sagepoint-financial"],"yoast_head":"\nInvestors of GPB Capital Holdings Funds File Class Action Securities Fraud Lawsuit | GPB Losses Lawyers<\/title>\n<meta name=\"description\" content=\"The class action securities case comes just weeks after GPB Capital acknowledged that its funds have dropped massively in value.\" \/>\n<meta name=\"robots\" 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