{"id":8658,"date":"2019-12-03T09:30:11","date_gmt":"2019-12-03T14:30:11","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=8658"},"modified":"2019-12-03T09:30:11","modified_gmt":"2019-12-03T14:30:11","slug":"is-gpb-capital-a-ponzi-scheme","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/is-gpb-capital-a-ponzi-scheme\/","title":{"rendered":"Is GPB Capital A Ponzi Scheme?"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-8096 size-medium\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/05\/NY1-1-300x200.jpg\" alt=\"GPB Capital has been accused of being a Ponzi scheme, which is a type of fraud where new investor money is used to pay off old investors. Investors in a Ponzi scheme believe they are getting a return from the business they invested in, but they\u2019re really getting another victim\u2019s money. Ponzi schemes are unsustainable because they require more and more new money to pay returns to investors. When new money can\u2019t be found, the scheme collapses, and investors lose their money. Silver Law Group represents investors in securities arbitration claims against stockbrokers who sold GPB.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/05\/NY1-1.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/05\/NY1-1-180x120.jpg 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>GPB Capital has been accused of being a <a href=\"https:\/\/www.silverlaw.com\/ponzi-scheme.html\" target=\"_blank\">Ponzi scheme<\/a>, which is a type of fraud where new investor money is used to pay off old investors. Investors in a Ponzi scheme believe they are getting a return from the business they invested in, but they\u2019re really getting another victim\u2019s money.<\/p>\n<p>Ponzi schemes are unsustainable because they require more and more new money to pay returns to investors. When new money can\u2019t be found, the scheme collapses, and investors lose their money. Silver Law Group represents investors in securities arbitration claims against stockbrokers who sold GPB. <a href=\"https:\/\/www.silverlaw.com\/blog\/is-gpb-capital-a-ponzi-scheme\/#more-8658\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>GPB Capital has been accused of being a Ponzi scheme, which is a type of fraud where new investor money is used to pay off old investors. Investors in a Ponzi scheme believe they are getting a return from the business they invested in, but they\u2019re really getting another victim\u2019s money. Ponzi schemes are unsustainable because they require more and more new money to pay returns to investors. When new money can\u2019t be found, the scheme collapses, and investors lose their money. Silver Law Group represents investors in securities arbitration claims against stockbrokers who sold GPB.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[593,580],"tags":[],"class_list":["post-8658","post","type-post","status-publish","format-standard","hentry","category-ponzi-schemes","category-stockbroker-misconduct"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Is GPB Capital A Ponzi Scheme? &#8212; Securities Arbitration Lawyers Blog<\/title>\n<meta name=\"description\" content=\"GPB Capital has been accused of being a Ponzi scheme, which is a type of fraud where new investor money is used to pay off old investors.\" \/>\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\/is-gpb-capital-a-ponzi-scheme\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Is GPB Capital A Ponzi Scheme? &#8212; Securities Arbitration Lawyers Blog\" \/>\n<meta name=\"twitter:description\" content=\"GPB Capital has been accused of being a Ponzi scheme, which is a type of fraud where new investor money is used to pay off old investors.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/05\/NY1-1.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=\"4 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Is GPB Capital A Ponzi Scheme? &#8212; Securities Arbitration Lawyers Blog","description":"GPB Capital has been accused of being a Ponzi scheme, which is a type of fraud where new investor money is used to pay off old investors.","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\/is-gpb-capital-a-ponzi-scheme\/","twitter_card":"summary_large_image","twitter_title":"Is GPB Capital A Ponzi Scheme? &#8212; Securities Arbitration Lawyers Blog","twitter_description":"GPB Capital has been accused of being a Ponzi scheme, which is a type of fraud where new investor money is used to pay off old investors.","twitter_image":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/05\/NY1-1.jpg","twitter_misc":{"Written by":"Silver Law Group","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.silverlaw.com\/blog\/is-gpb-capital-a-ponzi-scheme\/#article","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/is-gpb-capital-a-ponzi-scheme\/"},"author":{"name":"Silver Law Group","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"headline":"Is GPB Capital A Ponzi Scheme?","datePublished":"2019-12-03T14:30:11+00:00","mainEntityOfPage":{"@id":"https:\/\/www.silverlaw.com\/blog\/is-gpb-capital-a-ponzi-scheme\/"},"wordCount":889,"image":{"@id":"https:\/\/www.silverlaw.com\/blog\/is-gpb-capital-a-ponzi-scheme\/#primaryimage"},"thumbnailUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/05\/NY1-1-300x200.jpg","articleSection":["Ponzi Schemes","Stockbroker Misconduct"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.silverlaw.com\/blog\/is-gpb-capital-a-ponzi-scheme\/","url":"https:\/\/www.silverlaw.com\/blog\/is-gpb-capital-a-ponzi-scheme\/","name":"Is GPB Capital A Ponzi Scheme? &#8212; Securities Arbitration Lawyers Blog","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.silverlaw.com\/blog\/is-gpb-capital-a-ponzi-scheme\/#primaryimage"},"image":{"@id":"https:\/\/www.silverlaw.com\/blog\/is-gpb-capital-a-ponzi-scheme\/#primaryimage"},"thumbnailUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/05\/NY1-1-300x200.jpg","datePublished":"2019-12-03T14:30:11+00:00","author":{"@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"description":"GPB Capital has been accused of being a Ponzi scheme, which is a type of fraud where new investor money is used to pay off old investors.","breadcrumb":{"@id":"https:\/\/www.silverlaw.com\/blog\/is-gpb-capital-a-ponzi-scheme\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.silverlaw.com\/blog\/is-gpb-capital-a-ponzi-scheme\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.silverlaw.com\/blog\/is-gpb-capital-a-ponzi-scheme\/#primaryimage","url":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/05\/NY1-1.jpg","contentUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/05\/NY1-1.jpg","width":300,"height":200,"caption":"Richard Vincent Minichino II (CRD#: 5760826) is a former registered broker and investment advisor whose last employer was Next Financial Group, Inc. (CRD#:46214) of New York, NY. His previous employers include Wunderlich Securities, Inc. (CRD#:2543), also of New York, J.P. Morgan Securities LLC (CRD#:79) of Peekskill, NY, and Chase Investment Services Corp. (CRD#:25574) of Yorktown Heights, NY. He has been in the industry since 2010.Minichino was the subject of two FINRA actions that ultimately led to his bar from working as a broker. The first was filed on 6\/25\/2018, in response to his failure to comply with an arbitration award and\/or settlement agreement. He was suspended effective 9\/13\/2018 indefinitely, until the amount due is paid (which is not listed.)\u00a0FINRA then sent two notices of suspension to Minichino, on 9\/17\/2018 and 10\/11\/2018. After failing to comply with a FINRA request for information and did not request a termination of his suspension, Minichino was then barred indefinitely effective 12\/20\/2018."},{"@type":"BreadcrumbList","@id":"https:\/\/www.silverlaw.com\/blog\/is-gpb-capital-a-ponzi-scheme\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.silverlaw.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Is GPB Capital A Ponzi Scheme?"}]},{"@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:\/\/secure.gravatar.com\/avatar\/9eb0a691642ae95c68ee1c45b5f50f35bae76a41f3d9f861c7bfd40c87661746?s=96&d=mm&r=g","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\/8658","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=8658"}],"version-history":[{"count":1,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts\/8658\/revisions"}],"predecessor-version":[{"id":8659,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts\/8658\/revisions\/8659"}],"wp:attachment":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/media?parent=8658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/categories?post=8658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/tags?post=8658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}