GPB Capital executives are on trial for an alleged Ponzi-like scheme. Prosecutors claim fraud and conspiracy.

NYC, NY, USA, June 13, 2024 /EINPresswire.com/ -- As the trial of GPB Capital Holdings executives David Gentile and Jeffry Schneider began on Wednesday, June 12, 2024, in a Brooklyn federal courthouse, and prosecutos are alleging issues including fraud and conspiracy, Haselkorn & Thibaut, P.A. (www.InvestmentFraudLawyers.com), a nationwide investment fraud law firm, continues to monitor the proceedings closely. The law firm remains committed to assisting GPB investors in recovering their losses, often through FINRA Office of Dispute Resolution securities arbitration claims against various third-parties. The law firm has a very strong track record of recovering damages for investors who have suffered losses in these securities.

Prosecutors Allege GPB Executives Used Phony Documents and Ponzi-Like Scheme

In his opening statement, Assistant U.S. Attorney Nicholas Axelrod outlined the charges against Gentile and Schneider, which appear to include securities fraud, wire fraud, and conspiracy, as they sought to enrich themselves. Prosecutors further allege that the GPB executives used phony, back-dated documents and paid distributions to investors (in some instances) using their own money to hide the GPB firm's shortcomings and maintain the appearance of steady performance.

GPB's Troubled History and Investor Concerns

Beginning in or about 2013, GPB Capital experienced rapid growth by raising funds through the sale of high-risk private placement investments through numerous independent broker-dealers across the United States. By 2018, the GPB firm is believed to have raised $1.8 billion from investors, often by offering securities providing a distribution of 8% annually, and against the back-drop of an otherwise low interest rate market environment, this had some appeal. Unfortunately, these investments were often marketed by third-party sellers based upon negligent research and due diligence, misrepresentations and inaccuracies, or material omissions of the risks involved in the investment products being marketed. By late 2018, it is believed that concerns arose when GPB failed to make timely required securities regulatory filings, including timely filings of audited financial statements, with the Securities and Exchange Commission.

Haselkorn & Thibaut, P.A.'s Commitment to Helping Investors Recover Losses

As the trial is progressing, Haselkorn & Thibaut, P.A. remains dedicated to assisting investors in recovering their GPB investment losses through FINRA Office of Dispute Resolution securities arbitration claims involving third-partyies that sold those investments. The law firm's experienced staff includes investment fraud attorneys who are available for free consultations to help GPB investors understand their legal options for recovering their investment losses.

Investors Encouraged to Contact Haselkorn & Thibaut, P.A.

Investors who have experienced losses in GPB Capital investments recommended by a financial advisor or broker are urged to contact Haselkorn & Thibaut, P.A. at 1-888-784-3315, a toll-free hotline established for GPB investors nationwide. The firm's attorneys specialize in pursuing claims against brokerage firms and financial advisors and have a proven track record of success in maximizing investor recovery.
About Haselkorn & Thibaut, P.A.

Haselkorn & Thibaut, P.A. is a national law firm based in Florida, with additional offices locations in New York, North Carolina, Texas, and Arizona dedicated to representing individual and institutional investors seeking to recover investment losses caused by negligence or misconduct by financial services firms and their employees. With over 50 years of combined legal and securities industry experience, the firm's attorneys focus exclusively on investment loss recovery and represent investors nationwide in securities arbitration and investment litigation matters.

The sole purpose of this press release is to investigate how various firms, including FINRA broker-dealer firms and Registered Investment Advisory firms, have researched, marketed, sold, and supervised GPB securities investment sales to investor clients or how they advised, recommended, and implemented such investment strategies that included these or similar investment products.
For more information, visit www.investmentfraudlawyers.com

Matthew Thibaut
Haselkorn & Thibaut, P.A.
+1 888-784-3315
email us here

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