Embattled GPB Capital Holdings Under Continued Scrutiny After Failing to Make Required Information Public.
It has been one year since GPB Capital Holdings, Inc. (“GPB Capital”) was required to make important financial information public. Company GPB Capital should have filed documents with the Securities and Exchange Commission by April 30, 2018, according to a recent InvestmentNews article. One year later, regulators and the public are still waiting on those filings. GPB Capital, according to the article, has not provided a firm date for filing the required reports but says it is “performing an audit of its assets.”
The required financial filings are for two of GPB’s largest funds: Automotive Portfolio and GPB Holdings II. According to the report, GPB Automotive Portfolio raised $622.1 million, and GPB Holdings II raised $645.8 million, and both funds collectively have over 6,000 investors. It is unclear when the audits of the GPB Funds will be complete when (and if) GPB Capital ever makes the required SEC filings.
GPB Capital has been under heavy scrutiny because of its high-commission, high-risk private placements. According to multiple reports by InvestmentNews, the company is being investigated by several regulatory agencies including FINRA, the FBI and the SEC. Massachusetts Secretary of the Commonwealth announced a sweeping investigation of 63 stock brokerage firms who sold GPB private placements.
Investors who invested in any GPB Capital funds s should contact Levin Law at (305) 402-9050 or contact@levinlawpa.com immediately. If you were sold GPB Capital private placements or invested in any GPB funds, you might be entitled to compensation through a FINRA arbitration. Contact Levin Law immediately for more information.
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