Some of GPB Capitals funds jointly own portfolio companies, like the Prime Automotive Group. Page 1 of 1. Stone Living Trust, dated January 9, 1992, as amended May 24, 2005, Catherine Kominos, Stacy Greasor Individual Retirement Account, Gracemarie .

"about": [

David Gentile Sues Shareholders for $755,038.00 In Professional Fees On December 20, 2021, David Gentile filed a complaint in Delaware Chancery Court against GPB Capital Holdings as well as several related entities, including GPB Automotive Portfolio, GPB Waste Management and GPB Cold Storage. The statement concerning the role of Jeffry Schneider and Mark Martino of Ascendant Alternative Strategies: Regarding the Advisers response to Item 7(B)(1)(A)(28), it should be noted that Ascendant Capital, LLC a related party of ASCENDANT ALTERNATIVE STRATEGIES, LLC (Member FINRA/SIPC (CRD# 283881 / SEC# 69769)), provides services to GPB Capital Holdings, LLC and its clients and indirectly receives, and may directly receive, reimbursements or other compensation from such parties. As detailed in the indictment and other court documents, GPB, founded by Gentile in or around 2013, was a New York-based investment advisor registered with the SEC. With respect to the allegations contained in the civil action filed against GPB Capital by the Commonwealth of Massachusetts, we ask if GPB Capital is a case of fraud ab initio, i.e. Sort by manufacturer, model, year, price, location, sale date, and more. The loss was never explained by GPB Capital Holdings in any way. I have to admit that even I, a financial industry professional, am baffled as to whats going on here. 5. The current unrealized loss is $92,725,188.00. GPB was formed in March of 2013 and is owned by David Gentile. GPB Private Placement Investors Continue to File Fraud Lawsuits Against Broker-Dealers. GPB also openly complains of the high costs to become compliant: In another paragraph, GPBs Brochure Part 2 quite openly describes the self-dealing and conflicts of interest inherent in the deliberately-constructed relationship between GPB Capital, Ascendant Alternative Strategies, and Ascendant Capital: The document further states, GPBs Founder and Chief Executive Officer, is an indirect minority owner of AAS (but not Ascendant Capital). Thats a huge red flag a long-term private equity investment is supposed to focus on long-term capital appreciation instead of current income. For better and worse, the car guys seem to have a great deal of influence at GPB: Patrick Dibres lawsuit: Read GPBs claim and Dibres counterclaim. Industries Financial Services Company size 11-50 employees Headquarters New York, NY Type Privately Held Founded 2020 Locations. GPB is under investigation by the Financial Regulatory Authority (FINRA), the United States Securities and Exchange Commission (SEC), the Federal Bureau of Investigation (FBI), and several states and/or local regulatory agenci" }} ,

OTHER ITEMS OF CONCERN IN GPB CAPITALS JUNE 2020 ADV. The government contends that Cohn took proprietary information related to the regulators investigation into GPB Capital, using this as an incentive for the company to hire him. As alleged, by paying investors from an undisclosed and improper source such as investor capital, the defendants repeatedly misled investors about the health and performance of their investments, stated Acting United States Attorney DuCharme. After over a year, investors are still left asking what were those perceived risks and what exactly does it mean to investors if they fell outside of the auditors internal risk tolerance? Highline Management, Inc., which manages the day-to-day operations of GPB Capital's sponsored partnerships, negotiated the sale. Ch. Scientology Does! Lock With redemptions suspended, all of the GPB Funds plunging in value, no statements provided over the value of their private placementsthat is, if they are worth anything at allinvestors are turning to the brokerage firms and their registered representatives that sold them these investments to recover their losses. The alleged whistleblowers opinion appeared to be that GPB funds should not have been approved for sale to retail investors on the broker-dealer firms platform. Attorney Michael Emanuel is the new General Counsel and Chief Compliance Officer for GPB Capital Holdings.

{"@type": "Thing", "name": "fraud", "sameAs": "https://en.wikipedia.org/wiki/Fraud"},

Last year GPB Capital Holdings plunged from $1.8 billion to $1.1 billion Regulatory Assets Under Management. If we rely upon the June 2020 ADV number of $238,637,198, GPB Capital Holdings incurred a mind-blowing ~$861 million loss in one year. GPB told prospective investors that it would purchase, among other assets, income-producing auto dealerships and waste management businesses with capital from investors, promising them 8% returns . GPB Capital Holdings: Court-Appointed Monitors Report on Q4 2022 Activities. Notably missing from the list of GPB executives is Evan Myrianthopoulos, the long-time head of Debt Strategies at the firm. On October 10, 2017, Ascendant Alternative Strategies registered as a broker-dealer in Massachusetts. Inglesino, Webster, Wyciskala & Taylor, LLC served as GPB. Of course, we pause to note that GPB Capital Holdings still owes investors and the SEC those 2015 and 2016 restated financial reports. Did the discussion include your overall investment strategy and where these particular investments fit within that strategy? The State of Massachusetts has opened a pending investigation. Skelton was the President of AutoNations Northeast US Division when he left in 2020 to take the CEO slot at Prime Automotive Group. Official websites use .gov Scientology Fair Game: Cult Leader David Miscavige Orders Attacks on Marc Headley and His Business, US Federal Prosecutor Now Investigating Retired LAPD Cop & Scientology Pal Captain Cory Palka for Corruption, Subpoena-Evader and Thug Life Scientology Leader David Miscavige Served a Subpoena by a US Federal Court on Valentines Day 2023, Scientologist David Gentile Goes Down in Flames in the Pretrial Phase of His US Federal Criminal Case. Pa. 18-cv-01826. %PDF-1.5 % 6. We have substantial experience pursuing claims against brokerage firms and financial advisors on behalf of investors nationwide. This leads us to ask if a career car guy like Tom Hawkins is up to the task of managing a third-party valuation firm as it attempts to value GPBs assets across a wide range of divergent portfolio companies such as biotech, cold storage, and healthcare software. Despite these declines and negative events, many financial advisors continue to try to tell a positive story but based what facts or evidence, its unclear. Michael Emanuels name is no longer listed on Stroocks website, but it is listed on GPB Capitals most recent ADV dated August 12, 2020: The document shows Emanuel acquired his title in August 2020. GPB policy requires the use of a valuation provider to support its Valuation Committee in determining appropriate valuation and assets under management. Age: 54 If you invested in any of the following funds. Xenu Who? GPB Capital received as much as $7 million in PPP money across all of its funds, this even as the firm is the subject of numerous investigations. JOHN DEERE S180 For Sale at EquipmentFacts.com. Kirkland & Ellis, LLP served as legal advisor and Houlihan Lokey Capital, Inc. served as financial advisor, respectively, to BPOC in connection with the transaction. NEW YORK, Nov. 18, 2021 /PRNewswire/ -- GPB Capital Holdings, LLC ("GPB Capital") has finalized the sale of Prime Automotive Group to Group 1 Automotive, Inc. ("Group 1"), an international, Fortune 500 automotive retailer with 217 dealerships located in the U.S., U.K., and Brazil.This closing completes the purchase of substantially all the assets, including real estate, of 27 Prime Automotive . Specifically, Gentile and Schneider, both individually and through employees at Ascendant, represented to investors in Holdings I, Holdings II and Automotive Portfolio that the GPB funds would make a monthly distribution payment to investors that would be fully covered by funds from operations, meaning that the companies purchased by the funds would be sufficiently profitable for the monthly payments to be made from the companies cash flow, without drawing from capital raised by investors. Does Your Religion Pay You Commissions? Many of the investments were private placements. As of December 31, 2017, GPB had approximately $434,286,529 in regulatory assets under management, all of which is managed on a discretionary basis. See our recent article on this puzzling development.

{"@type": "Organization", "name": "Securities Exchange Commission", "sameAs": "https://en.wikipedia.org/wiki/U.S._Securities_and_Exchange_Commission"},

The financial advisors making recommendations to investors to continue to hold their GPB investments have no additional information to answer these questions. Appropriate due diligence would further identify issues that concern investors (compared to other potential investments), including high costs, high commissions, illiquidity, and conflicts of interests that would make the investment not suitable for retail investors or certain classes of retail investors such as retirees, elderly investors, etc if the investments are long-term and illiquid in nature, that more than likely would not suit the investment objectives, needs, or goals of an elderly or retired investor in many cases. 4A. The new brochure describes GPB Capital Holdings excessive commissions and fees in a rather cavalier fashion as if these excessive commissions and fees are inconsequential: GPB Capital Holdings ADV:

"headline": "GPB Capital Lawsuit: GPB Holdings Ponzi Scheme",

Investors are encouraged to call 1-800-856-3352 to receive their free GPB Capital Investors Guide. The guide helps investors understand the investigations and options to recover investment losses. I seem to recall reading that some of the investors either were promised or actually got distributions starting immediately after contributing. BZ WELDING Farm Equipment Auction Results. The Plaintiffs, in this case, alleged that GPB Capital Holdings was operating a Ponzi scheme. GPB Automotive Portfolio, LP. Scientology Fines OTs $100,000 if They Talk About Xenu or Body Thetans! GPB Capital Holdings at the end of June reported a sharp decline in its regulatory assets under management over an 18-month period and several changes in management and financial oversight. Some of the information in this new brochure is astonishing. Question: If Highline Management, Inc. was created to manage the daily business operations of GPB Capital Holdings then why is Austin Lake Technologies also required as an independent support partner that provides strategic, management, and operations consulting services to the adviser? Did that discussion include or address the decline in value? 3. At Haselhorn and Thibaut, our attorneys specialize in helping investors recover losses in GPB Holdings. July 2019: We reported on GPB Capital Holdings staggering $700 million loss across all of its funds. What is your track record?

{"@type": "Thing", "name": "wire fraud", "sameAs": "https://en.wikipedia.org/wiki/Wire_transfer"},

This comes right after FINRA fined two broker-dealers for GPB Capital Holdings Sales this week. "text": "GPB Capital Holdings was founded by David Gentile in 2013 and headquartered in New York City. Published By Shepherd Smith Edwards & Kantas, LLP, NorthStar Financial Services (Bermuda) - Learn More Here.

"url": "https://investmentfraudlawyers.com/investment-loss-recovery-group-investigates-gpb-capital-holdings-claims/",

GPB Capital received as much as $7 million in PPP money across all of its funds, this even as the firm is the subject of numerous investigations. Between August 2015 and December 2018, the defendants, together with others, allegedly engaged in a scheme to defraud investors and prospective investors in the GPB Funds through material misrepresentations and omissions. Cohn maintains that he never disclosed such information with anyone at GPB. We use GPBs number of $1.8 billion AUM. Along with our partners, were committed to exposing these frauds whenever and wherever we find themand holding the fraudsters accountable, stated FBI Assistant Director-in-Charge Sweeney. Most of the investments were sold to investors as income products. Some of these products were under different names or related companies, for example, Armada Waste Management being GPB Waste Management. Private placement investments are only supposed to be sold to high net worth and accredited investors. Due diligence includes an initial investigation into the GPB investment: and that includes potential benefits, risks, and tax consequences, as well as a review and investigation of GPB itself, the underlying business, the history of the company or business as well as key individuals, and other relevant factors, including any actual or potential conflicts of interest. First, be aware that an investor has a limited time window to recover losses.

{"@type": "Thing", "name": "Compliance", "sameAs": "https://en.wikipedia.org/wiki/Regulatory_compliance"},

I spent several hours last night poring over the ADV and reviewing Jeffs post. We serve the following localities: Atlanta, Baltimore, Boston, Michael Cohn Allegedly Stole Information About SEC Probe Into GPB Ponzi Scam Allegations, GPB Capital Holdings Continues to Leave Investors Wondering What Happened to Their Money, In July, the alternative asset firm reported in its Form ADV to the SEC that its assets under management (AUM) had. It is alleged that GPB Capital Holdings tried to cover up the scheme, and its an inevitable failure by telling investors that they would receive continuous returns amounting to 8 percent of their initial investment. Nearly a year after he was charged with obstruction of justice, Michael Cohn, the former Chief Compliance Officer of GPB Capital Holdings, has pleaded guilty to the misdemeanor crime of theft of government property.

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