Investors are filing GPB Capital lawsuits to recover losses after raids by the FBI, investigations by state agencies and huge reductions in the value of shares. A number of GPB Holdings Investors recently received a letter from GPB Capital dated August 27, 2019, which included presentations on the full disclosure of future financial performance (projected on or about 30 September). However, investors are still very concerned about their GPB investments, some of whom are choosing to file joint inquiries to recover their investment losses.
According to its website, GPB Capital is an alternative asset management company based in New York focusing on the acquisition of private income generating companies in various industries, particularly the “automotive retail” sector. Since 2013, GPB, with the help of 4,000 retail investors, has raised ~ $ 1.3 billion through the GPB Portfolio and GPB Holdings II (“GPB Funds”), buying vehicle dealers in Texas, New England, in New York. York, and in Pennsylvania. A number of investors attracted the high income offered by GPB and many other broker dealers selling GPB Funds. However, brokers are encouraged to sell GPB Funds as they receive 8% commission. Overall, the broker received more than $ 100 million of commission.
In July 2017, GPB sued its former business partner. While litigation continues, some controversial allegations were raised regarding the business of the GPB. In addition, other problems for the GPB began to emerge in 2018 and were completed in 2019: \ t
|AD - Recover your investment losses! Haselkorn & Thibaut, P.A. is a national law firm that specializes in fighting ONLY on behalf of investors. With a 95% success rate, let us help you recover your investment losses today. Call now 1 888-628-5590 or visit InvestmentFraudLawyers.com to schedule a free consultation and learn how our experience can help you recover your investment losses. No recovery, no fee.|
• April 2018: GPB fails to produce audited financial statements;
• August 2018: GPB announces that the capital of any new investors will not be accepted;
• September 2018: Massachusetts Securities Division launches an investigation, including the practice of selling more than 60 independent traders;
• November 2018: GPB auditors resigned, with reasons related to risk parameters;
• December 2018: FINRA and CSS also launched an independent investigation into GPB and broker dealers who have sold a GPB Fund; and
• February 2019: The GPB is charged by the FBI.
According to InvestNews.com reports, more than 6o dealer-seller firm was selling GPB and earning significant levels of commission from doing so. The list includes (but is not limited to) Royal Alliance Associates Inc., Sagepoint Financial Inc., FSC Securities Corp, Woodbury Financial Services Inc, Newbridge Securities, Ladenburg Thalmann, and Hightower Securities.
GPB funds are private placement investments, which can be very complex, dangerous, and not suitable for some retail investors. Private placements are only available to accredited investors, but selling them to an accredited investor does not necessarily mean that the transaction is suitable or suitable for an investor.
Other Financial News: Singaporean headline inflation accelerates in August
The Singapore headline inflation intensified in August. On a year-on-year basis, consumer price inflation rose to 0.5 per cent, reversing discomfort in inflation pressures for the first time since June 2019. There were consensus expectations that inflation would range between 0.1 per cent and 1 per cent. 0.7 per cent.
Increased year-on-year prices in the transport basket increased by 1.1 per cent, as was average reversal in food price gains from the low 18 months of 0.7 per cent, significantly in the year-on-year headline inflation recovery from 0.4 per cent. to 0.5 percent last month. Despite the fall in crude oil prices in August, COE prices appeared to have been strengthened on a sequential basis, contributing to the overall increase in the overall inflation rate.
However, the base rate remained stable at 0.8 per cent for the second straight month, at the lowest rate since April 2016. The average rate of inflation is 1.3 per cent to date in 2019.
“As we enter the last quarter of 2019, the headline inflation rate is likely to rise in December, mainly due to the low base of the transport basket a year ago”, said Howie Lee, Economist. , OCBC Bank.
World crude oil prices fell in November 2018 and COE prices began to show a downturn beginning September 2018. These two factors suggest that the transport basket is likely to show more gains a year on For the rest of 2019, the headline inflation rate could be pushed back to the handling 1 per cent before the year ends.
“However, it does not appear that there is a return to the 2 per cent level within 2020, due to the challenging economic landscape that will come in the year ahead”, added by Howie Lee.