GPB Capital was recently in the news because its chief compliance officer was arrested. This comes after an avalanche of bad news over the last year that included an FBI raid. People that invested in GPB Capital through SagePoint Financial should know that Haselkorn & Thibaut, a national investment fraud law firm, has been investigating the sale of GPB Products and representing investors to recover losses.
Who is SagePoint Financial?
SagePoint Financial, founded in 1970, is headquartered in Phoenix, Arizona and has over 1800 financial advisors. It is part of the Advisor Group, which is one of the largest independent financial advisor broker-dealers.
Haselkorn & Thibaut is actively investigating firms, such as SagePoint Financial, that sold GPB Capital retail investors. Investors can call 1-800-856-3352 for a free case evaluation to recover losses.
What is GPB Capital?
GPB Capital has been caught up in a series of investigations and lawsuits, which only continue to mount. The investigations have been from the SEC, FINRA, FBI and state agencies. Three weeks ago the chief compliance officer was arrested for obstruction of justice. He allegedly accessed information while working at the SEC and then gave the information to GPB Capital. If that wasn’t enough, just last week a lawsuit in Texas alleges GPB Capital is the “Ponzi scheme.” This wasn’t the first time. Investors have waited anxiously for audited records. It was also mentioned in a lawsuit last year by a former business partner of GPB Capital.
However, the lawyers at Haselkorn & Thibaut believe that GPB Capital, a private placement product, should have never been sold to individual investors. Private placement products are supposed to be sold only to “accredited investors,” meaning someone with a net worth over $1 million. The reason why they are limited is that private placements are generally very risky investment products and have very little liquidity.
What Should SagePoint Financial Investors Do Regarding GPB Capital?
It is very unlikely at this time that GPB Capital investors will see a return of their original principal investment. Don’t believe us, ask your financial advisor how much money you get for your GPB Capital investment if you sold it. There are a couple of options available to GPB Capital investors: (1) hold it and hope it comes back; or (2) initiate a legal action to recover your losses in GPB Capital. We are currently representing many GPB Capital investors across the country to recover losses.