Tr?id=566623520170033&ev=PageView&noscript=1

SEC Seeks to Have Court Appoint Receiver For GPB Capital

Posted on June 17th, 2022 at 12:53 PM
SEC Seeks to Have Court Appoint Receiver For GPB Capital

From the Desk of Jim Eccleston at Eccleston Law:

The Securities and Exchange Commission (SEC) has presented a plan to a New York federal judge that would place GPB Capital Holdings into receivership with the objective to return money to what the SEC terms “defrauded investors”.


The SEC submitted the plan after GPB’s sole owner David Gentile appointed three new managers for the company after a federal grand jury indicted Gentile on criminal fraud and conspiracy charges last year. Gentile additionally asked a judge in a parallel civil case to closely oversee the firm’s court-appointed monitor and restrict him from liquidating its investment funds.


However, the SEC alleges that Gentile’s actions violated the initial court order appointing that monitor. As a result, the SEC contends that breach enables the SEC to convert the monitorship into a receivership in an effort to protect investor funds. GPB already has liquidated nearly $1.2 billion worth of assets under the monitorship, which included the automotive dealerships that constituted the company’s largest investment.


GPB previously announced its intent to wind down its investment partnership and return money to investors, but none of the proceeds has yet to be distributed to fund partners.


Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

Tags: eccleston law, gbp capital, sec

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

I cannot thank you enough for your efforts. You have proven to be a valuable resource.

Jim T.

LATEST NEWS AND ARTICLES

1789403905 Law
September 14, 2026
SEC Considers Expanding Retail Access to Private Markets

The Securities and Exchange Commission (SEC) is considering a proposal that could expand retail investors' access to private markets and allow investment advisers to charge performance fees to a broader group of clients.

1789155492 Law
September 11, 2026
SEC Considers Investor Test to Expand Accredited Investor Eligibility

The Securities and Exchange (SEC) Chairman Paul S.

1789059399 Law
September 10, 2026
Advisors Emphasize Early Planning as Key Defense Against Elder Financial Exploitation

Elder financial exploitation has reached crisis levels, according to InvestmentNews.