As more news comes out, investors in GPB Capital Holdings, LLC (GPB) private placements are starting to realize it may have been a giant ponzi scheme. GPB was primarily supposed to be buying auto dealerships and waste-management businesses that were represented to provide attractive yields for the various firms' clients. GPB has told the broker-dealers, that marketed its private placements, that it is getting its financial house in order and completing an audit of its various funds.
In the wake of the accusations against GPB, individual investors are starting to file FINRA arbitration claims against registered broker/dealers that sold the private placements packaged by GPB which raised $1.5 billion from investors and is under investigation by state and federal regulators. If you have invested in a GPB private placement, please contact Colling Gilbert Wright & Carter securities arbitration attorneys today for a complimentary case evaluation. Thank you.