An indictment was unsealed today in federal court in Brooklyn charging three individuals affiliated with GPB Capital Holdings, LLC (“GPB”) with securities fraud, wire fraud and conspiracy. Defendants David Gentile, the founder, owner and Chief Executive Officer (“CEO”) of GPB; Jeffry Schneider, the owner and CEO of Ascendant Capital LLC (“Ascendant”); and Jeffrey Lash, a […]
GPB Capital describes itself as a “New York-based alternative asset management firm that seeks to acquire income-producing private companies.” GPB raised more than $1.5 billion in capital held in private limited partnerships that invest primarily in auto dealerships and waste management businesses. Investments in GPB Capital were sold by various brokerage firms including Royal Alliance […]
William Galvin, the Massachusetts secretary of state, has initiated a probe into the activities of broker-dealer firms who sold private placements sponsored by GPB Capital Holdings, according recently pubished news reports. The Massachusetts Securities Division has reportedly received information regarding the sales practice of a certain firm, and has requested information from a total of […]