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GPB broker-dealer shuts down amid fraud charges

GPB broker-dealer shuts down amid fraud charges
Ascendant Alternative Strategies changed its official status with Finra to termination requested. Founders of GPB, David Gentile and Jeff Schneider were arrested and charged with fraud last month by the FBI.
March 1, 2021
2
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The broker-dealer that primed the pump for much of the $1.8 billion in sales of GPB Capital Holdings private placements is shutting down.
That such an end would come to the broker-dealer, called Ascendant Alternative Strategies, is to be expected in the wake of the founders of GPB, David Gentile and Jeff Schneider, having been arrested and charged with fraud last month by the FBI. Gentile and Schneider also own the broker-dealer, Ascendant Alternative, which has offices in Austin, Texas and New York. ....

New York , United States , Josepht Gardemal , David Gentile , Alvarez Marsal , Jeff Schneider , Exchange Commission , Financial Industry Regulatory Authority Inc , Capital Holdings , Ascendant Alternative Strategies , Ascendant Alternative , Wall Street , Madison Square Garden , Financial Industry Regulatory Authority , புதியது யார்க் , ஒன்றுபட்டது மாநிலங்களில் , டேவிட் புறஜாதி , அல்வாரெஸ் மார்சல் , ஜெஃப் ஶ்நைடர் , பரிமாற்றம் தரகு , நிதி தொழில் ஒழுங்குமுறை அதிகாரம் இன்க் , மூலதனம் ஹோல்டிங்ஸ் , ஏற்றம் மாற்று உத்திகள் , ஏற்றம் மாற்று , சுவர் தெரு , மாடிசன் சதுரம் தோட்டம் ,

SEC requests independent monitor in GPB Capital case

By Jaclyn Jaeger2021-02-10T21:18:00+00:00
The Securities and Exchange Commission (SEC) has requested the appointment of an independent monitor to oversee GPB Capital Holdings amid allegations the New York-based asset management firm defrauded more than 17,000 retail investors in a “Ponzi-like” scheme.
In court documents filed Monday in the U.S. District Court for the Eastern District of New York, the SEC argued a monitor is “necessary and appropriate for the protection of investors.” This monitor would have carte blanche over “all non-privileged books, records, and account statements for the entities and assets” of GPB’s portfolio companies and funds. GPB would also have to make available “any officer, employee, or outside advisor that the monitor deems relevant to executing his or her duties.” ....

New York , United States , David Gentile , Robert Chmiel , Jeffrey Schneider , Alvarez Marsal , Joseph Gardemal , Department Of Justice , Us District Court , Eastern District , Highline Management , Ascendant Capital , Ascendant Alternative Strategies , Managing Partner Jeffrey Lash , Regulatory Assets Under Management , புதியது யார்க் , ஒன்றுபட்டது மாநிலங்களில் , டேவிட் புறஜாதி , ராபர்ட் செமிகேல் , ஜெஃப்ரி ஶ்நைடர் , அல்வாரெஸ் மார்சல் , துறை ஆஃப் நீதி , எங்களுக்கு மாவட்டம் நீதிமன்றம் , கிழக்கு மாவட்டம் , உயர் கோடு மேலாண்மை , ஏற்றம் மூலதனம் ,

Silver Law Group Represents Investors In Claims Against Brokerage Firms Which Sold GPB Capital Holdings

Silver Law Group Represents Investors In Claims Against Brokerage Firms Which Sold GPB Capital Holdings
texasguardian.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from texasguardian.com Daily Mail and Mail on Sunday newspapers.

New York , United States , Boca Raton , Scott Silver , Richard Best , Jeffry Schneider , David Gentile , Exchange Commission , Capital Holdings , Technology Way , York Regional Office , See Campaign , Scott Silver Of Law Group , Silver Law Group , Law Group , Law Groupreportedly , Court Eastern District , Ascendant Capital , Ascendant Alternative Strategies , Jeffrey Lash , Law Group Filed , First Investor Arbitration Claim , Financial Fraud Group , American Association , Toll Free , Google News ,

17,000 retails investors stung in $1.7bn scam

Trio charged with running a Ponzi-like scheme by the US financial watchdog
The Securities and Exchange Commission (SEC) has charged three individuals and their affiliated companies with running a scam.
The Ponzi-like scheme raised over $1.7bn (£1.25bn, €1.4bn) from securities issued by a New York-based asset management firm and registered investment adviser, GPB Capital.
Around 17,000 retails investors were impacted, of which roughly 4,000 are described as ‘seniors’.
In its complaint, the SEC is seeking disgorgement of ill-gotten gains plus pre-judgement interest and penalties.
Source of funds questioned
GPB owner and chief executive David Gentile and Jeffry Schneider, the owner of GPB’s placement agent Ascendant Capital, are accused of lying to investors about the source of money used to make an 8% annualised distribution payment. ....

New York , United States , Richard Best , Jeffry Schneider , David Gentile , Jane Norberg , Exchange Commission , New York Based , Ascendant Capital , Ascendant Alternative Strategies , Jeffrey Lash , புதியது யார்க் , ஒன்றுபட்டது மாநிலங்களில் , ரிச்சர்ட் சிறந்தது , ஜெஃப்ரி ஶ்நைடர் , டேவிட் புறஜாதி , ஜேன் நோர்பெர்க் , பரிமாற்றம் தரகு , புதியது யார்க் அடிப்படையிலானது , ஏற்றம் மூலதனம் , ஏற்றம் மாற்று உத்திகள் , ஜெஃப்ரி பலங்கொண்டு அடி ,

SECURITIES DIVISION SEEKS REPAYMENT IN ALLEGED $1.8 BILLION MULTI-STATE SCHEME TARGETING 255 MISSOURIANS

Secretary of State Jay Ashcroft’s Securities Division ordered David Gentile, Jeffry Schneider, Jeffrey Lash and their companies to show cause why restitution of more than $24 million should not be paid after allegedly defrauding 255 Missouri investors and tens of thousands more across the U.S.
A news release says the division alleges that between 2013 and 2018, Gentile, Schneider and Lash raised more than $1.8 billion by luring individuals to invest with misleading promises of reliable returns. The three men and their companies – GPB Capital Holdings LLC, Ascendant Capital LLC and Ascendant Alternative Strategies LLC – relied on a Ponzi-style scheme for financing, using new investors’ capital to pay returns to prior investors. ....

New York , United States , Jeffry Schneider , David Gentile , Capital Holdings , Secretary Of State Jay Ashcroft Securities Division , Securities Division , Ascendant Capital , Ascendant Alternative Strategies , State Jay Ashcroft , Jeffrey Lash , புதியது யார்க் , ஒன்றுபட்டது மாநிலங்களில் , மிச Ou ரி , ஜெஃப்ரி ஶ்நைடர் , டேவிட் புறஜாதி , மூலதனம் ஹோல்டிங்ஸ் , செயலாளர் ஆஃப் நிலை ஜெய் ஆஷ்கிராஃப்ட் பத்திரங்கள் பிரிவு , பத்திரங்கள் பிரிவு , ஏற்றம் மூலதனம் , ஏற்றம் மாற்று உத்திகள் , நிலை ஜெய் ஆஷ்கிராஃப்ட் , ஜெஃப்ரி பலங்கொண்டு அடி ,