FINRA

Iorio Altamirano LLP Investigates Dempsey Lord Smith, LLC Over GPB Funds

Published on: April 13, 2021 | by Iorio Altamirano

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors. According to publicly available records filed with the SEC, broker-dealer Dempsey Lord Smith, LLC likely received sales compensation for selling the GPB funds to retail investors.

If you lost money in GPB funds with Dempsey Lord Smith, LLC, you may have a claim.

The SEC has charged GPB Capital, Ascendant Capital, and Ascendant Alternative Strategies with running a Ponzi-like scheme that raised roughly $1.8 billion from securities issued by GPB Capital. The SEC believes that as many as 17,000 retail investors nationwide have been defrauded.

Iorio Altamirano LLP Investigates MSC – BD, LLC Over GPB Funds

Published on: April 13, 2021 | by Iorio Altamirano

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors. According to publicly available records filed with the SEC, broker-dealer MSC – BD, LLC likely received sales compensation for selling the GPB funds to retail investors.

MSC – BD, LLC is facing at least one FINRA arbitration complaint from a customer seeking to recover investment losses in GPB funds. The MSC – BD, LLC broker involved in the arbitration is Robert Malone Fehrman.

If you lost money in GPB funds with MSC – BD, LLC, you may have a claim.

Iorio Altamirano LLP Investigates McDonald Partners LLC Over GPB Funds

Published on: April 13, 2021 | by Iorio Altamirano

**Update: October 18, 2021** On October 12, 2021, a FINRA arbitration panel in Cleveland, Ohio, ordered McDonald Partners, LLC and Thomas M. McDonald to pay $160,000 in damages to three customers. The customers alleged various causes of action related to broker Rita Mansour’s recommendation to invest in securities offerings in Eden Rock Montenegro, LLC and GPB Holdings II, LP.

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Iorio Altamirano LLP Investigates McDonald Partners LLC Over GPB Funds

Iorio Altamirano LLP Investigates Royal Alliance Associates, Inc. Over GPB Funds

Published on: April 12, 2021 | by Iorio Altamirano

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors. According to publicly available records filed with the SEC, broker-dealer Royal Alliance Associates, Inc. likely received sales compensation for selling the GPB funds to retail investors.

Royal Alliance Associates has faced numerous FINRA arbitration complaints from customers seeking to recover investment losses. The following Royal Alliance Associates, Inc. brokers may have recommended GPB Capital funds to clients:

Gary Ginsberg;

Iorio Altamirano LLP Investigates Kalos Capital, Inc. Over GPB Funds

Published on: April 12, 2021 | by Iorio Altamirano

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors. According to publicly available records filed with the SEC, broker-dealer Kalos Capital, Inc. likely received sales compensation for selling the GPB funds to retail investors.

Kalos Capital, Inc. has faced numerous FINRA arbitration complaints from customers seeking to recover investment losses. Current and former Kalos Capital, Inc. brokers may have recommended GPB Capital funds to clients, including:

Joshua Stivers;

Iorio Altamirano LLP Investigates Purshe Kaplan Sterling Investments Over GPB Funds

Published on: April 12, 2021 | by Iorio Altamirano

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors. According to publicly available records filed with the SEC, broker-dealer Purshe Kaplan Sterling Investments likely received sales compensation for selling the GPB funds to retail investors.

Former Purshe Kaplan Sterling Investments Compliance Officer Toni Caiazzo Neff is said to have warned the firm about GPB Capital. According to a report on InvestmentNews, the firm’s management went around Caiazzo Neff and decided to sell GPB Capital against her recommendation. Caiazzo Neff reported the situation to FINRA and was subsequently fired by the firm.

Purshe Kaplan Sterling Investments has faced FINRA arbitration complaints from customers seeking to recover investment losses. The following Purshe Kaplan Sterling Investments brokers may have recommended GPB Capital funds to clients:

Iorio Altamirano LLP Investigates SagePoint Financial, Inc. Over GPB Funds

Published on: April 12, 2021 | by Iorio Altamirano

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors. According to publicly available records filed with the SEC, broker-dealer SagePoint Financial, Inc. likely received sales compensation for selling the GPB funds to retail investors.

SagePoint Financial, Inc. has faced numerous FINRA arbitration complaints from customers seeking to recover investment losses. The following SagePoint Financial, Inc. brokers may have recommended GPB Capital funds to clients:

Daniel Dillard; and

Iorio Altamirano LLP Investigates Money Concepts Capital Corp Over GPB Funds

Published on: April 12, 2021 | by Iorio Altamirano

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors. According to publicly available records filed with the SEC, broker-dealer Money Concepts Capital Corp likely received sales compensation for selling the GPB funds to retail investors.

Money Concepts Capital Corp has faced FINRA arbitration complaints from customers seeking to recover investment losses. The following Money Concepts Capital Corp brokers may have recommended GPB Capital funds to clients:

Christopher John Passero;

Iorio Altamirano LLP Investigates Silber Bennett Financial, Inc. Over GPB Funds

Published on: April 12, 2021 | by Iorio Altamirano

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors. According to publicly available records filed with the SEC, broker-dealer Silber Bennett Financial, Inc. likely received sales compensation for selling the GPB funds to retail investors.

Silber Bennett Financial, Inc. is no longer registered with FINRA. The firm’s founder, Jamie Bennett, is currently serving a 2-year suspension from the securities industry through February 15, 2023. While registered with Silber Bennett Financial, Bennett served in a variety of capacities, including Director, Chief Executive Officer, and Chief Financial Officer. Bennett also acted as his firm’s Chief Compliance Officer and Anti-Money Laundering Compliance Officer from June 2017 to March 2019. Accordingly, he would have been tasked with performing due diligence on the GPB funds. If you lost money in GPB funds with Silber Bennett Financial, Inc., you may have a claim.

The SEC has charged GPB Capital, Ascendant Capital, and Ascendant Alternative Strategies with running a Ponzi-like scheme that raised roughly $1.8 billion from securities issued by GPB Capital. The SEC believes that as many as 17,000 retail investors nationwide have been defrauded.

Iorio Altamirano LLP Investigates Uhlmann Price Securities, LLC Over GPB Funds

Published on: April 12, 2021 | by Iorio Altamirano

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors. According to publicly available records filed with the SEC, broker-dealer Uhlmann Price Securities, LLC likely received sales compensation for selling the GPB funds to retail investors.

Former Uhlmann Price Securities, LLC broker John James Hoidas may have recommended GPB Capital funds to clients. If you lost money in GPB funds with Uhlmann Price Securities, LLC, you may have a claim.

The SEC has charged GPB Capital, Ascendant Capital, and Ascendant Alternative Strategies with running a Ponzi-like scheme that raised roughly $1.8 billion from securities issued by GPB Capital. The SEC believes that as many as 17,000 retail investors nationwide have been defrauded.