Update 8/12/21

Goodman & Nekvasil, P.A., Law Office Announces a $126,734.700 Arbitration Award on Behalf of a GPB Holdings, LP Investor.

View the FINRA Award Details

View our Press Release

GPB Capital Fraud Investigation

Our Cases:

Our Firm has recently filed arbitration claims against Advisory Group Equity Services, Ltd., Coastal Equities, Inc. Hightower Securities, LLC, Concorde Investment Services, LLC, , Crown Capital Securities, L.P., Capital Investment Group, Inc. Capital Financial Services, Inc., Kalos Capital, Inc., Madison Avenue Securities, LLC, Moloney Securities Co. Inc., Money Concepts Capital Corp., National Securities Corporation, Royal Alliance Associates, Inc., Sagepoint Financial Advisors, Inc. and Woodbury Financial Services, Inc. on behalf of investors who invested more than two million dollars in GPB Capital investments. We allege that these investments were unsuitable because our clients did not know, among other things, that these GPB investments were high risk, illiquid and included up front fees of 11.75%. We have been contacted by numerous other GPB investors requesting representation. We are handling these cases nationwide.

In the News:

Goodman & Nekvasil, P.A. Announces the Filing of Dozens of GPB Capital Arbitration Claims on Behalf of Victimized Investors

GPB Capital CEO with Clearwater Ties Arrested in 18 Billion Dollar Fraud

Other Law Firms (Our Competitors):

There are significant differences between our law firm and other firms that are advertising for GPB clients. I strongly recommend that you review our about our firm page to learn more.

The questions you should ask an attorney include:

• Has your firm actually filed GPB cases?

• How many securities arbitration cases have you actually tried during the past 30 years?

• What is your track record? Kalju Nekvasil, esq. our firm’s lead attorney, has tried dozens of cases nationwide and recently went 14 years without losing a case at a final hearing on the merits.

• Is your firm willing to handle the case on a contingency fee basis? If so, who advances the money for the costs of trying the case? 99% of our firm’s cases ultimately settle and the costs are low. If a case does not settle, however, it can cost as much as $30,000 - $50,000 to try the case. Is your firm willing to advance these costs and absorb the cost if there is no recovery? It has been our firm’s experience over the past 30 years that victimized investors cannot afford to risk “throwing good money after bad.”

• How large is your firm? Many of our competitors are “one man shops” with an answering service. Our firm has a ten member support staff, which includes a full time securities analyst, experienced investigators and paralegals, all working for you.

• Who will actually try your case? All of our firm’s cases are personally tried by Kalju Nekvasil, Esq., our lead attorney.

GPB OVERVIEW

The Securities Law Firm of Goodman & Nekvasil, P.A. is investigating the sales practices and due diligence of Financial Industry Regulatory Authority (“FINRA”) brokers who sold the private placement securities of GPB, as well as their affiliated brokerage firms.

GPB raised 1.3 billion dollars by issuing private placement notes. These notes are private placement, or non-traditional, investments that are not registered with the SEC. These inherently risky investments are only suitable for sophisticated investors who understand the risks and can afford to lose their entire investment. Unfortunately, many brokerage firms and financial advisors sold these GPB investments to retirees and unsophisticated investors because they paid such a high commission. '

On June 21, 2019, GPB Capital allegedly reported significant losses in the value of GPB Holdings II and GPB Automotive Portfolio, which declined more than 25% and 39%, respectively. GPB's other funds allegedly reported declines in estimated value ranging from 25% to 73%. Following the announcement, Fidelity Investments allegedly instructed its broker-dealer clients to remove GPB Capital-issued private placements from the Fidelity platform within 90 days.

In February 2021, The State of New York has filed a lawsuit against GPB Capital Holdings, David Gentile, Jeffry Schneider, Ascendant Capital, LLC, Ascendant Alternative Strategies, LLC, and Jeffrey Lash. In addition, The Securities and Exchange Commission charged three individuals and their affiliated entities with running a Ponzi-like scheme that raised over $1.7 billion from securities issued by a New York-based asset management firm and registered investment adviser, GPB Capital. The SEC also charged GPB Capital with violating the whistleblower protection laws.

Founder Faces Charges Over $1.8B Ponzi Scam and Wants GPB Capital to Pay His Legal Fees

Beleaguered private equity firm GPB Capital Holdings is back in the news. This time its founder and former CEO, David Gentile, is suing the company in Delaware Chancery Court. Gentile, who is facing criminal, civil fraud, and conspiracy charges related to the over $1.8B Ponzi scam that GPB is accused of perpetuating, wants his legal defense fees paid for and not out of his own pocket.

In his complaint, filed on December 20, 2021, Gentile argued that GPB Capital Holdings owes him $755,000 to date for services by a law firm that is defending him against the charges, which also include other civil claims. 

He accused the alternative asset firm of not honoring agreements made with GPB Capital and affiliated funds that “entitle” him to such payments in defense of the actions brought by the US Justice Department, the US Securities and Exchange Commission (SEC), various states’ enforcement actions, and the civil cases by investors.

Gentile contends that the reason he was even named in these actions is because he was the “sole owner of GPB Capital Holdings” and a company officer. He claims that under the company’s operating agreements, he is entitled to payment of these legal fees. 

All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years.

There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

If you incurred investment losses in GPB Capital Holdings or any of its offerings and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us at 1-800-500-4442.

GPB Offerings we are Investigating