NEW YORK, June 04, 2019 (GLOBE NEWSWIRE) -- The law offices of Gana Weinstein LLP have filed a complaint on behalf of a client alleging that the Claimant invested nearly $7 million or over 90% of his savings in illiquid investments. The complaint also alleges that Claimant was recommended to invest in GPB Holdings II LP, one of the offerings made by GPB Capital Holdings (GPB Capital). Brokerage firm Kalos Capital, Inc. (Kalos Capital) is alleged to have failed to conduct due diligence.
Over the past year questions concerning GPB Capital have continued to mount leaving investors clueless as to the fate of their investments and the company’s operations. Financial advisers at some of the largest brokerage firms in the country have sold $1.5 billion of these high-risk private placements. The failure of GPB Capital to meet financial disclosure deadlines has prompted a wave of regulatory investigations and customer complaints.
“GPB Capital unfortunately appears to be on the same collision course with reality as other failed private placement offerings,” said Adam Weinstein, a partner with Gana Weinstein LLP. “We believe the regulatory investigations are only the tip of the ice berg here.”
If you were an investor in GPB Capital and want a free consultation with an attorney please contact Adam Weinstein at (212) 776-4252 or by e-mail at AWeinstein@GanaLLP.com. You may also visit the firm’s website at www.ganalawfirm.com.
GPB Capital Holding’s funds include:
GPB Cold Storage
GPB Automotive Fund
GPB Automotive Income
GPB Holdings II and III
GPB Waste Management
GPB NY Development
CONTACT: Adam J. Weinstein Gana LLP 345 Seventh Avenue, 21st Floor, New York, NY 10001 (212) 776-4252, aweinstein@ganallp.com