The SEC on Thursday charged investment adviser GPB Capital Holdings and three executives for running a Ponzi-like scheme that defrauded more than 17,000 retail investors of $1.7 billion.
A man who was the head of a Manhattan investment fund was arrested on Thursday and is facing securities fraud charges for his role in an alleged $1.8 billion Ponzi-like scheme that saw his company paying clients with their own money.&nbs.
Peiffer Wolf: Weâve Been Warning For 18 Months That GPB Capital Is A âPonzi Schemeâ - Madoff Lesson Not Learned? Law Firm Sounded Alarm In Mid-2019 Even As GPB Capital Got A Pass From Most On Wall Street And In Media; âThousands Of Victims Needlessly Cleaned Outâ By Delay In Action
Peiffer Wolf: Weâve Been Warning For 18 Months That GPB Capital Is A âPonzi Schemeâ - Madoff Lesson Not Learned? Law Firm Sounded Alarm In Mid-2019 Even As GPB Capital Got A Pass From Most On Wall Street And In Media; âThousands Of Victims Needlessly Cleaned Outâ By Delay In Action
News 2021 - NY money manager charged in $1 8 billion rtb.gov.bn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rtb.gov.bn Daily Mail and Mail on Sunday newspapers.
New York private equity firm founder and two associates are charged in $1.8 billion Ponzi scheme that used money from 17,000 investors to pay for sports cars, private jets and a $30k birthday dinner
GPB Capital Holdings chief executive David Gentile, 54, and his business partners, Jeffry Schneider, 51, and Jeffrey Lash, 52, were arrested on Thursday
They are charged with conspiracy to commit securities fraud and wire fraud
They are accused of cheating more than 17,000 retail investors who were falsely promised an 8 percent return on their investments
The trio are accused of siphoning millions of dollars for themselves, including a Ferrari for Gentile and a $29,837 American Express bill for David s 50th Bday