Ponzi scheme | Raw Story | Matthew Chapman | July 18, 2020 “On Saturday, The Wall Street Journal reported that one of the businesses that received stimulus through the embattled Paycheck Protection Program (PPP) was a private equity…
GPB lawsuit
“Outrageous Abuse of System” for $1.8 Billion Scheme Under Investigation by SEC & Subject of MA Legal Action to Benefit From COVID-19 Relief NEW YORK CITY//July 8, 2020//The discovery that the controversial GPB Capital Ponzi scheme is getting…
Prime Automotive | The Portland Press Herald | Edward D. Murphy | June 30, 2020 “A Texas law firm said Tuesday that investors have lost $1.8 billion by putting their money into a company that owns dozens of auto dealerships…
Class action lawsuit | Fort Worth Star-Telegram | Mitch Mitchell | June 30, 2020 “Lawyers are cautioning victims of an investment scheme that allegedly bilked more than 2,000 people out of $1.8 billion to take action. Anyone who invested with…
GPB | WealthManagement.com | Diana Britton | June 30, 2020 “A flurry of claims were filed this week against brokerages and advisors who invested client money in GPB Capital, a New York-based private placement shop currently under investigation by the…
“Week of Reckoning” Arrives For Swindle With 2,000 Victims & Nearly $1.8 Billion in Losses; Strong Texas Connection and Lure of String of Auto Dealerships Key to Scheme. AUSTIN, TX & NEW YORK CITY//June 30, 2020//The wheels are…
“Week of Reckoning” Arrives For Swindle With 2,000 Victims & Nearly $1.8 Billion in Losses; Strong Texas Connection and Lure of String of Auto Dealerships Key to Scheme. AUSTIN, TX & NEW YORK CITY//June 30, 2020//The wheels are…
GPB | Automotive News | Melissa Burden | May 26, 2020 Toyota is demanding GPB Capital Holdings, the majority owner of Prime Automotive Group, sell all five of the retailer’s Toyota dealerships. The ownership of Prime’s three Volkswagen stores also…
Prime | Boston Globe | Jon Chesto | May 27, 2020 “Allegations mirror some of the concerns raised by ousted CEO in his lawsuit against investment firm The investment firm whose takeover of the Prime group of auto dealers has…
GPB | Investment News | Bruce Kelly | May 11, 2020 Astronomical fees and undisclosed conflicts of interest undermined investors in GPB Capital private placements from the start, according to an amended prospective class action lawsuit filed last week in…