A FINRA Arbitration Claim Alleges that Matthew Crafa Offered Unsuitable GPB Capital Promissory Notes to Investors
The Sonn Law Group is currently investigating Royal Alliance Associates representative Matthew Crafa. Mr. Crafa is alleged to have sold unsuitable GPB Capital private placement securities to investors. GPB Capital may be a Ponzi scheme. If you sustained losses working with this broker, please contact us for immediate legal assistance, or call us anytime at 866–827–3202 to schedule a free consultation.
Matthew Crafa (CRD# 3114277) is a registered broker and investment advisor. Since July of 2007, Mr. Crafa has been employed at Royal Alliance Associates in Garden City, New York. Previously, he was also associated with Oppenheimer & Co. and Ladenburg, Thalmann.
On April 25th, 2019, an investor filed a $1 million FINRA arbitration claim against Matthew Crafa. According to public records, the complaint alleges that this financial advisor made unsuitable investment recommendations. Specifically, the claim involves losses sustained in GPB Capital Holdings — a private placement investment fund that is now being investigated as a possible Ponzi scheme.
GPB Capital Holdings is the Target of a Ponzi Scheme Investigation
In the fall of 2018, GPB Capital Holdings announced that investor redemptions were being suspended. Since then, law enforcement agencies and securities regulators have initiated multiple Ponzi scheme investigations of the company. Many GPB investment funds are implicated in these investigations, including:
● GPB Automotive Portfolio,
● GPB Holdings II, III;
● GPB Holdings Qualified; and
● GPB Waste Management Fund.
If you suffered losses in GPB Capital Holdings, you may be entitled to financial compensation. Further, your advisor or your brokerage firm could potentially be legally liable for your damages.
Jeffrey R. Sonn is a top-rated securities litigation lawyer and FINRA arbitration attorney. If you suffered significant financial losses working with Royal Alliance Associates advisor Matthew Crafa, he can help. To set up a free, no obligation review of your claim, please contact our law firm today.