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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.
Brokers sold GPB private placements using the worst tactics in Wall Street’s playbook
Client appreciation dinners are all well and good, but private suites at Madison Square Garden are clearly beyond the pale.
SEC wants independent monitor to run GPB amid fraud charges
The regulator wants to install an industry veteran to run GPB to monitor its assets in auto dealerships and make sure investor interests are protected.
SEC, Feds charge senior GPB executives with fraud
GPB raised $1.8 billion from investors starting in 2013 through sales of private partnerships, but it has not paid investors steady returns, called distributions, since 2018.
GPB Capital accused of financial misconduct by business partner
Auto dealership owner who sold a majority stake to the firm said it is running a Ponzi-like scheme.
