201911.06
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News Conference Audio – GPB Rotten to the Core From Day One

PEIFFER WOLF/MEYER WILSON: “ROTTEN TO THE CORE FROM DAY ONE,” GPB CAPITAL RAISED AT LEAST $1.8 BILLION THROUGH PONZI SCHEME FLAGGED BY WHISTLEBLOWER

Madoff All Over Again? Whistleblower’s “Smoking Gun” Analysis of GPB Capital Scheme Was Contained in Files Indicted Ex-SEC Official Is Alleged to Have Spirited Away to GPB Capital; Law Firms Filing Class-Action Lawsuit in Texas to Recover Funds Stolen by GPB and Network of “Helpers”.

NEW YORK CITY – November 6, 2019 – The whistleblower who uncovered connections to the Russian mob, outrageous conflicts of interest, and illicit funding sources in the course of her investigation into GPB Capital Holdings (GPB Capital) explained today at a national news conference how she reported it to market and federal regulators, and then learned that her analysis was likely turned over to the company by a now-indicted SEC official who took a job at GPB. At least $1.8 billion was run through GPB Capital, with most of the proceeds ending up in the pockets of principals, behind-the-scenes hidden partners, brokerage firms paid huge commissions, and a network of accountants. For more details see https://gpblawyer.com/.

Peiffer Wolf Carr and Kane (Peiffer Wolf) and Meyer Wilson, the two law firms representing both the whistleblower and multiple GPB investors, today detailed how they worked with the whistleblower as part of their full-scale investigation to expose GPB Capital as a Ponzi scheme.

Today, Peiffer Wolf and Meyer Wilson announced that they filed a new class action lawsuit in the United States District Court for the Western District of Texas on behalf of all investors who purchased interests in the various GPB funds. The class action lawsuit names GPB Capital CEO David Gentile, CFO William Jacoby, former CFO Minchung Kgil, its directors and partners, a series of limited partnerships (the GPB Funds, including those for automobiles, waste management and cold storage), the underwriters for the GPB Funds (Ascendant Capital, Ascendant Alternative Strategies, and Axiom Capital), auditors, the fund administrator, lawyers, and an array of dubious individuals, some with checkered pasts and others with connections to organized crime in Russia.



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Peiffer Wolf Carr & Kane has helped thousands of investors who have suffered substantial losses. If you have any GPB Fund in your investment portfolio, Contact Us by calling 888-390-6491 or by filling out an online Contact Form for a FREE Consultation.


MEDIA CONTACT:  Max Karlin, (703) 276-3255 or mkarlin@hastingsgroup.com.


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