201910.24
0

Feds Charge GPB Capital Executive with Obstruction of Justice

GPB Obstruction of Justice | InvestmentNews | Bruce Kelly | October 23, 2019 According to InvestmentNews in its recent article about GPB, “GPB’s chief compliance officer stole information from SEC during its investigation: DOJ” The Department of Justice Wednesday charged the chief compliance officer of GPB Capital Holdings, who is also a former Securities and…

201910.23
0

Scientologist-Owned GPB Capital Update: GPB Exec & Former SEC Official Michael Cohn Arraigned Today for Obstruction of Justice

Michael Cohn | The Scientology Money Project | October 23, 2019 Breaking news from the Financial Times: A former employee of the Securities and Exchange Commission was charged on Wednesday for allegedly leaking information about an investigation into a private equity group that he subsequently joined. Michael Cohn, who was a securities compliance examiner in the…

201910.18
0

BD client claims building in wake of billion-dollar sales of GPB Capital LPs

GPB | Financial Planing | Tobias Salinger | October 17, 2019 Since 2018, the SEC, FINRA, and Massachusetts securities regulators have launched investigations into GPB Capital Holdings. Additionally, the FBI and the New York City Business Integrity Commission made an unannounced visit to the GPB’s offices in 2019. Although GPB said it is cooperating with…

201910.01
0

Broker-Dealer Fined $225K Over Sales of Complex Products

Broker-Dealer, Newbridge Securities | Financial Advisor IQ | Alex Padalka | October 1, 2019 Finra has fined a Florida-based broker-dealer $225,000 for alleged failures to supervise the sales of complex investment products, the industry’s self-regulator says. From July 2013 to July 2015, Newbridge Securities allegedly failed to have an adequate supervisory system governing the sale…

201909.30
0

Lawyers predict ‘avalanche’ of investor complaints about Prime group’s owner

GPB Capital | Sun Journal  | J. Craig Anderson | September 25, 2019 Two law firms allege investment brokers pushed unsuitably risky investments in GPB Capital Holdings on retirees and other unsophisticated investors, including those in Maine and New England. A group of lawyers claims Saco-based Prime Automotive Group’s majority owner, New York investment firm…

201909.30
0

Finra censures Newbridge Securities and fines firm $225,000

Newbridge Securities | Investment News| Sep 27, 2019 @ 2:20 pm The Financial Industry Regulatory Authority Inc. has censured Newbridge Securities and fined the Boca Raton, Fla.-based firm $225,000 for having failed to adequately supervise the sale of complex securities such as structured notes and leveraged, inverse and inverse-leveraged exchange-traded funds. In addition, Finra imposed a…