GPB was awarded the loan despite being under investigation by the SEC, FINRA, and the FBI.
The Sonn Law Group is investigating allegations that brokers recommended investments in GPB Capital Holdings. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.
The Small Business Administration disclosed last week that GPB and its affiliates received between $3 million and $7 million in Payment Protection Program loans. This occurred as GPB Capital is under investigation by the SEC, FINRA, and the FBI for operating an alleged Ponzi scheme.
The company has also been named in a class-action lawsuit brought by investors in the U.S. District Court for the Western District of Texas. The lawsuit alleges that GPB operated a Ponzi scheme that caused approximately 2,000 investors up to $1.8 billion in losses.
GPB Capital has been embroiled in legal disputes in the recent past. In November 2019, GPB informed investors that they would not be supplying the audited financial reports by their deadline, even though investors have been awaiting the audits since April. GPB Capital has also been under investigation by both the SEC and the FBI. In October, GPB’s CCO was charged with obstruction of justice in relation to a GPB investigation.
The Small Business Administration’s disclosure indicated that GPB Capital Holdings, GPB 5 and GPB 8 received between $1 and $2 million in PPP loans. GPB Cars 12 received a PPP loan between $350,000.00 and $1 million.
Contact Us Today
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.