GPB Capital Charged Massachusetts Securities Regulators for Defrauding Investors

June 1, 2020 Author: Brian Levin

Levin Law, P.A. Continues to Investigate Brokerage Firms that Sold GPB Capital Holdings Funds

Levin Law, P.A. (“Levin Law”) is continuing its investigation regarding the due diligence and sales practices of securities brokerage firms that offered, recommended, or sold GPB Capital Holdings, Inc. (“GPB” or “GPB Capital”) funds to their customers.  Levin Law has filed many arbitration claims against brokerage firms on behalf of investors who believe that they have suffered losses from their GPB investments.

As reported by the Wall Street Journal (wsj.com/articles/gpb-capital-hit-with-fraud-complaint) and many other media outlets, GPB Capital Holdings LLC (“GPB Capital”) and its related companies were sued by the Massachusetts securities division for making false statements to roughly 180 investors who put more than $14 million in its private-equity funds, and raising over $1 billion throughout the world by means of false statements.  The complaint alleged that “[w]hile GPB Capital maintained authority to suspend distributions whenever it wished, the firm continued to make its monthly distributions in order to maintain appearances and stay attractive to investors,” The complaint further alleged that “[i]n order to keep up with distributions, GPB Capital began dipping into other sources of income, contrary to statements made in its private placement memoranda and marketing materials.”

GPB Capital is the subject of multiple other on-going investigations by various state and federal investigators, along with the FBI, over allegations of dubious accounting and sales practices, as well as providing inaccurate disclosures to investors.

Levin Law has been filing Financial Industry Regulatory Authority (“FINRA”) arbitration claims against brokerage firms that recommended and sold various GPB Capital funds to their customers.  In the FINRA arbitration claims, the investors allege that the brokerage firms failed to conduct adequate due diligence on the GPB Fund prior to recommending and selling such funds to their customers, and also that the brokerage firms misrepresented and omitted material information when recommending and selling the GPB Fund to the investors.

GPB funds were sold to investors by financial advisors and stockbrokers associated with many broker-dealers.  Many questions have arisen surrounding the brokerage firms’ due diligence.  FINRA-member brokerage firms and their registered representatives have an obligation to conduct adequate due diligence on securities prior to recommending and selling such investment products to customers.  Levin Law plans to file additional cases involving GPB Holdings Fund, GPB Automotive Portfolio, LP., GPB Holdings II, LP, GPB Waste Management, LP. (a/k/a Armada Waste), GPB NYC Development LPand other GPB Capital funds.

Contact Levin Law for a Free Case Evaluation

If you invested in a GPB Capital Fund, please contact Brian Levin for a free case evaluation at 305-402-9050, brian@levinlawpa.com, or visit Levin Law’s website, www.levinlawpa.com.  Levin Law accepts most cases on a contingency-fee basis, meaning that you would not be obligated to pay Levin Law’s attorney fees unless money is recovered for you.

About Levin Law

Levin Law is a premier national securities and class action law firm.  Brian Levin, Levin Law’s founding attorney, has obtained settlements and recoveries in excess of $100,000,000 in assets through arbitration and litigation for individual and institutional investors throughout the country and the rest of the world. Levin Law represents retirees, individual investors, high-net-worth investors, ultra-high-net-worth investors, institutions, family offices, trusts, publicly held companies, and others.

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Summary
GPB Capital Charged Massachusetts Securities Regulators for Defrauding Investors
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GPB Capital Charged Massachusetts Securities Regulators for Defrauding Investors
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GPB Capital Holdings LLC (“GPB Capital”) and its related companies were sued by the Massachusetts securities division for making false statements to roughly 180 investors who put more than $14 million in its private-equity funds, and raising over $1 billion throughout the world by means of false statements.
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Levin Law P.A.
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