How Investors Can Recover GPB Capital Losses
In recent years, many brokerage firms have been selling private placements for GPB Capital – and in return, they received tens of millions of dollars in commissions. But now those brokerage firms have to face their customers because the GPB investments have plummeted in value.
GPB raised $1.8 billion from customers who purchased the private placements from their brokerage firm, according to reports. Nearly 60 broker-dealers sold GPB to their clients. The brokerage firms collectively received $167 million in commissions – meaning they collected over 9% of the money that their clients invested in the private placements.
But GPB has announced that the value of its seven funds has dropped dramatically. One of the funds, GPB’s Armada Waste Management, has crashed by over 60%.
There have been reports that the FBI is investigating GPB.
The brokerage firms that sold GPB may not have conducted adequate due diligence before recommending it to their customers – so these firms may be responsible for their customers’ investment losses.
If a brokerage firm sold GPB to you, please contact the Business Trial Group. Attorneys Jared Levy (561-812-1541) and Aiman Farooq (954-327-3041) will be happy to discuss your potential claims, relating to your investment losses.
Our attorneys help investors recover their financial losses on a contingency basis, which means that you will never be charged hourly fees or expensive retainers. We are only paid if we successfully recover money for you.
The Business Trial Group is backed by the size and skill of the largest contingency law firm in the nation – with more than 700 lawyers and offices throughout the country. We regularly battle against brokerage firms, investment advisory firms, and banks, and have helped investors recover tens of millions of dollars of investment losses.