Newbridge Securities Corporation (CRD#: 104065) is a brokerage firm licensed to operate in 52 U.S. jurisdiction.
In March of 2019, a Newbridge Securities customer filed a FINRA arbitration complaint, alleging that the broker-dealer:
- Breached its fiduciary duties;
- Acted in a negligent manner; and
- Made unsuitable investment recommendations.
The underlying allegations in this case relate to significant investment losses sustained in non-traded real estate investment trust (REIT) offered by GPB Capital — a company that is now being investigated for making material misrepresentations to investors and engaging in improper accounting practices.
Investigation: GPB Capital Holdings May Be a Ponzi Scheme
Currently, the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), federal law enforcement agencies, and Massachusetts state securities regulators are all investigating GPB Capital on the grounds that it may be little more than a massive Ponzi scheme.
Unfortunately, many unsuspecting investors were encouraged to put their hard earned savings and assets into this risky, potentially outright fraudulent private placement investment by their financial advisors and or brokerage firms. If you sustained investment losses in GPB Capital after following your broker or broker-dealer’s guidance, you need to speak to a lawyer.
Get Help From Our Private Placement Losses Attorneys Today
At Sonn Law Group, our investment fraud lawyers have the skills and experience needed to handle complex Ponzi scheme cases and private placement claims. If you sustained losses in GPB Capital Holdings, please contact us today for a free, no obligation consultation.
Disclaimer: This article contains opinions and NOT statements of fact in any way whatsoever. The information here is general information that should not be taken as legal advice. NO attorney-client relationship is established between you and our attorneys by reading this article. This article is attorney advertising and should not be used as a substitute for legal advice from a qualified securities lawyer.