{"id":10149,"date":"2021-08-31T10:25:03","date_gmt":"2021-08-31T14:25:03","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=10149"},"modified":"2021-08-31T10:25:03","modified_gmt":"2021-08-31T14:25:03","slug":"silver-law-group-represents-victims-of-gpb-funds-ponzi-scheme-in-claims-against-hightower-securities","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/silver-law-group-represents-victims-of-gpb-funds-ponzi-scheme-in-claims-against-hightower-securities\/","title":{"rendered":"Silver Law Group Represents Victims Of GPB Funds Ponzi Scheme In Claims Against HighTower Securities"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-9890 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/03\/FiverrLossesSmall.jpg\" alt=\"On August 13, 2021, a FINRA arbitration panel ordered Respondent HighTower Securities LLC to fully refund its investor-customer\u2019s purchases of GPB Automotive Portfolio LP and GBP Waste Management LP, which the investor had made in reliance upon the advice and recommendations of HighTower Securities. That investor presented substantial evidence to the FINRA arbitration panel that HighTower Securities failed in its obligations to conduct adequate due diligence regarding GPB Capital and its affiliates.  The SEC has charged GPB Capital and its affiliates with running a \u201cPonzi-like\u201d scheme that raised approximately $1.8 billion. Much of that total was invested in the following funds:  GPB Holdings, LP \/ GPB Holdings Qualified, LP GPB Automotive Portfolio, LP GPB Holdings II, LP GPB Waste Management, LP \/ Armada Waste Management, LP  Financial advisors such as HighTower Securities LLC are being found responsible for investors\u2019 GPB losses based upon evidence that they failed in their obligations to adequately investigate GPB and\/or turned a blind eye to red flags concerning GPB\u2019s finances and business operations when recommending GPB funds to their clients.  Broker-dealers are supposed to recommend only suitable investments to their clients and perform due diligence on the products they sell. FINRA-registered brokers and firms are subject to arbitration to resolve disputes.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/03\/FiverrLossesSmall.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/03\/FiverrLossesSmall-180x120.jpg 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>On August 13, 2021, a FINRA arbitration panel ordered Respondent HighTower Securities LLC to fully refund its investor-customer\u2019s purchases of GPB Automotive Portfolio LP and GBP Waste Management LP, which the investor had made in reliance upon the advice and recommendations of HighTower Securities. That investor presented substantial evidence to the FINRA arbitration panel that HighTower Securities failed in its obligations to conduct adequate due diligence regarding GPB Capital and its affiliates. <a href=\"https:\/\/www.silverlaw.com\/blog\/silver-law-group-represents-victims-of-gpb-funds-ponzi-scheme-in-claims-against-hightower-securities\/#more-10149\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On August 13, 2021, a FINRA arbitration panel ordered Respondent HighTower Securities LLC to fully refund its investor-customer\u2019s purchases of GPB Automotive Portfolio LP and GBP Waste Management LP, which the investor had made in reliance upon the advice and recommendations of HighTower Securities. That investor presented substantial evidence to the FINRA arbitration panel that [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[588,593],"tags":[],"class_list":["post-10149","post","type-post","status-publish","format-standard","hentry","category-finra-arbitration","category-ponzi-schemes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Silver Law Group Represents GPB Investors In Claims Against HighTower<\/title>\n<meta name=\"description\" content=\"A FINRA arbitration panel ordered Respondent HighTower Securities LLC to fully refund its investor-customer\u2019s purchases of GPB.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/silver-law-group-represents-victims-of-gpb-funds-ponzi-scheme-in-claims-against-hightower-securities\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Silver Law Group Represents GPB Investors In Claims Against HighTower\" \/>\n<meta name=\"twitter:description\" content=\"A FINRA arbitration panel ordered Respondent HighTower Securities LLC to fully refund its investor-customer\u2019s purchases of GPB.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/03\/FiverrLossesSmall.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Silver Law Group\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Silver Law Group Represents GPB Investors In Claims Against HighTower","description":"A FINRA arbitration panel ordered Respondent HighTower Securities LLC to fully refund its investor-customer\u2019s purchases of GPB.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.silverlaw.com\/blog\/silver-law-group-represents-victims-of-gpb-funds-ponzi-scheme-in-claims-against-hightower-securities\/","twitter_card":"summary_large_image","twitter_title":"Silver Law Group Represents GPB Investors In Claims Against HighTower","twitter_description":"A FINRA arbitration panel ordered Respondent HighTower Securities LLC to fully refund its investor-customer\u2019s purchases of GPB.","twitter_image":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/03\/FiverrLossesSmall.jpg","twitter_misc":{"Written by":"Silver Law Group","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.silverlaw.com\/blog\/silver-law-group-represents-victims-of-gpb-funds-ponzi-scheme-in-claims-against-hightower-securities\/","url":"https:\/\/www.silverlaw.com\/blog\/silver-law-group-represents-victims-of-gpb-funds-ponzi-scheme-in-claims-against-hightower-securities\/","name":"Silver Law Group Represents GPB Investors In Claims Against HighTower","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.silverlaw.com\/blog\/silver-law-group-represents-victims-of-gpb-funds-ponzi-scheme-in-claims-against-hightower-securities\/#primaryimage"},"image":{"@id":"https:\/\/www.silverlaw.com\/blog\/silver-law-group-represents-victims-of-gpb-funds-ponzi-scheme-in-claims-against-hightower-securities\/#primaryimage"},"thumbnailUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/03\/FiverrLossesSmall.jpg","datePublished":"2021-08-31T14:25:03+00:00","author":{"@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"description":"A FINRA arbitration panel ordered Respondent HighTower Securities LLC to fully refund its investor-customer\u2019s purchases of GPB.","breadcrumb":{"@id":"https:\/\/www.silverlaw.com\/blog\/silver-law-group-represents-victims-of-gpb-funds-ponzi-scheme-in-claims-against-hightower-securities\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.silverlaw.com\/blog\/silver-law-group-represents-victims-of-gpb-funds-ponzi-scheme-in-claims-against-hightower-securities\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.silverlaw.com\/blog\/silver-law-group-represents-victims-of-gpb-funds-ponzi-scheme-in-claims-against-hightower-securities\/#primaryimage","url":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/03\/FiverrLossesSmall.jpg","contentUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/03\/FiverrLossesSmall.jpg","width":300,"height":200},{"@type":"BreadcrumbList","@id":"https:\/\/www.silverlaw.com\/blog\/silver-law-group-represents-victims-of-gpb-funds-ponzi-scheme-in-claims-against-hightower-securities\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.silverlaw.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Silver Law Group Represents Victims Of GPB Funds Ponzi Scheme In Claims Against HighTower Securities"}]},{"@type":"WebSite","@id":"https:\/\/www.silverlaw.com\/blog\/#website","url":"https:\/\/www.silverlaw.com\/blog\/","name":"Securities Arbitration Lawyers Blog","description":"Published by Securities Arbitration Lawyers \u2014 Silver Law Group","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.silverlaw.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752","name":"Silver Law Group","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/9eb0a691642ae95c68ee1c45b5f50f35bae76a41f3d9f861c7bfd40c87661746?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9eb0a691642ae95c68ee1c45b5f50f35bae76a41f3d9f861c7bfd40c87661746?s=96&d=mm&r=g","caption":"Silver Law Group"}}]}},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts\/10149","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/comments?post=10149"}],"version-history":[{"count":1,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts\/10149\/revisions"}],"predecessor-version":[{"id":10150,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts\/10149\/revisions\/10150"}],"wp:attachment":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/media?parent=10149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/categories?post=10149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/tags?post=10149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}