Concerned about your investment in GPB Capital?
The White Law Group continues its investigation involving broker-dealers who may have unsuitably recommended GPB Capital private placements to investors.
According to news reports this week, a class action lawsuit was filed on Wednesday in Austin, Texas alleging misconduct in the sales of GPB Capital private placement investments.
The firm, which raised close to $1.8 billion from investors in the past six years, purportedly promised investors returns of 8% annually, but those returns were allegedly not generated by investments in auto dealers or other businesses but purportedly paid for by using the capital from the next round of investors, or in some cases the capital of the investor himself, according to the allegations.
Although GPB’s business plan called for a partnership with independent broker-dealers to sell private placements to wealthy investors, instead of generating high returns for clients, “the GPB Capital Ponzi scheme was a garden variety Ponzi scheme,” according to the complaint.
Investigating Potential Lawsuits
The White Law Group continues its investigation into FINRA-registered broker dealers who may have unsuitably recommended GPB Capital’s offerings to investors, including the following offerings:
Armada Waste Management LP (f/k/a GPB Waste Management LP)
GPB Holdings II
GPB Holdings I
GPB Automotive Portfolio
GPB Cold Storage
GPB NYC Development
GPB Holdings Qualified LP
GPB Holdings Automotive LLC
GPB Portfolio Automotive LLC
Private Placement investments such as GPB offerings are highly complex, high risk investments. They are only suitable for sophisticated, accredited investors and institutions.
If you are concerned about your GPB Capital losses, you may have recovery options. Please call the securities attorneys at The White Law Group for a free consultation at 888-637-5510.
We represent investors in FINRA arbitration claims in all 50 states, including Texas. Our attorneys have recovered millions of dollars from many brokerage firms in the past.
These claims are distinct from the class action filed directly against GPB Capital and could be pursued concurrently.
This information is all publicly available and provided to you by The White Law Group.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee. For more information on the firm and its representation of investors, visit https://www.whitesecuritieslaw.com.