SEC Seeks Appointment of Independent Monitor for GPB Capital Holdings

GPB and three executives were charged by the SEC with defrauding investors earlier this month. 

The SEC has filed documents in the U.S. District Court for the Eastern District of New York arguing that an independent monitor be appointed to oversee GPB Capital Holdings after earlier this month the SEC charged GPB Capital and three of its executives with operating a Ponzi-like scheme that raised over $1.7 billion from investors. GPB Capital was also charged with violating whistleblower protection laws. 

The requested independent monitor would have carte blanche over “all non-privileged books, records, and account statements for the entities and assets” of GPB’s portfolio companies and funds.

Additionally, the monitor would have access to any officer, employee, or outside advisor of GPB Capital if the monitor believes he or she would be relevant to their oversight. 

The SEC outlined the monitor’s authority to either approve or disapprove of GPB’s actions, which include:

GPB responded to the lawsuits filed by saying it “has been cooperating . . . and is extremely disappointed by these developments. GPB denies the allegations and intends to vigorously defend itself in court[.] . . .”

On February 11, 2021, GPB agreed to the appointment of an independent monitor to oversee its operations. 

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The Sonn Law Group is currently investigating allegations that brokers recommended investments in GPB Capital Holdings. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.


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