Three from Prime Automotive owner face federal charges
Updated February 4, 2021, 4:43 p.m.
Email to a Friend
Federal charges filed against three associated with majority owner of Prime Automotive Group
Federal prosecutors have filed fraud charges against three individuals associated with GPB Capital, the majority owner of the Westwood-based Prime Automotive Group, accusing them of misrepresenting the source of funds used to make monthly distribution payments to investors. The indictment in Brooklyn federal court was filed against David Gentile, chief executive of New York-based GPB, Ascendant Capital owner Jeffry Schneider, and former GPB managing partner Jeffrey Lash. A significant portion of GPBâs distributions to investors were paid directly from investorsâ funds, instead of cash flow from Prime and other GPB holdings, prosecutors said. GPB issued a statement saying it denies the governmentâs allegations and intends to vigorously defend itself in court. David Ro