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FBI Now Investigating GPB Capital Holdings

The FBI is now investigating GBP Capital Holdings. The state of Massachussetts, the SEC, and FINRA are also investigating.In February, we told you about three investigations focused on GPB Capital Holdings. The first is by the state of Massachusetts, with two additional separate investigations by FINRA and the SEC. On Thursday, February 28th, the FBI, accompanied by officials from the New York City Business Integrity Commission, paid an impromptu visit to GPB’s corporate headquarters.

The announcement was made in a letter sent to investors, explaining that “authorities” made an unannounced visit to their offices, and “collected materials.” While the company did not disclose the identity of the “authorities,” an anonymous industry insider disclosed to the press that the visit was from the FBI and the Commission.

In his letter, CEO David Gentile called it a “continuation” of the process to “strengthen our business including enhancing our oversight and auditing practices.” He assures investors that “we are still laser-focused on completing our audits, overseeing our portfolio companies and creating value for you, our investors. We are confident that as we move forward our portfolio companies are stable and well positioned for the future.”

GPB Capital Holdings raised over $1.8 billion through registered representatives from independent broker-dealers selling these risky, high-commission private placements as “alternative investments.” The company’s private placements are primarily in the automotive retail and waste management sectors. Last August, the company suspended new fundraising in order to concentrate on taking care of the reporting for two funds, GPB Holdings II and GPB Automotive Portfolio. The company has seen a spate of bad news since Massachusetts began its investigation last year.

If you purchased GPB Capital through Sagepoint Financial or another broker-dealer, you may have a claim to recover your money.

Are You A GPB Capital Investor?

Silver Law Group represents investors in securities and investment fraud cases. Scott Silver is a leading national advocate for investors and is the chairman of the Securities Fraud Group of the American Trial Lawyers. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases are handled on a contingent fee basis, meaning that you won’t owe us until we recover your money for you. Contact us today and let us know how we can help.

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