Our firm represents multiple clients who have been recommended GPB Capital Holdings (GPB Capital) related investments. GPB invests in a variety of businesses but primarily in auto dealerships and waste management businesses. However, over the past year controversy has embroiled GPB Capital in a saga including multiple regulatory investigations and even an FBI referral which has left investors clueless to the fate of their investments.
According to our investigation Kalos Capital, Inc. (Kalos Capital) and its brokers including Jason Mosher (Mosher) have recommended GPB Capital private placements to investors. Investors at this point should prepare themselves for the worst possible outcomes including significant losses on their investments. Investors who have invested in GPB Capital are encouraged to contact us for a free consultation.
As a background, financial advisers sold $1.5 billion of these high-risk private placements offered by GPB Capital Holdings. More than a year ago GPB Capital was supposed to file registration forms with the SEC for two of its largest funds to make certain accounting and financial disclosures required under the securities laws. However the company did not meet its deadline back in April 2018 and now over a year later has no firm date when annual reports for the two funds will be filed and the public has no clue what those values will look like. It is highly unusual for an audit of a fund to take over a year without any material update to investors. Even the largest of publicly traded companies that have accounting irregularities rarely take this long to make a restatement of their accounting numbers. However, GPB has merely told investors to continue to be patient as the company has come up with never ending excuses that follow an all too familiar pattern in an industry wracked with fraud and abuse.