Business
Memories of Madoff: New Ponzi scheme may have put $2.2 billion at risk – Sydney Morning Herald
Wall Street firm GPB Capital’ chief David Gentile has been indicted for allegedly defrauding thousands of investors across America in what could be one of the biggest…
All a lie
William McGovern, a lawyer for Gentile, declined to comment on the allegations. The firms website had been taken down on Thursday, and a spokesperson couldnt be immediately reached for comment.
The defendants misrepresented the holdings of GPB Capital through deceptive marketing practices, luring investors with promises of monthly distributions that would be covered by funds from the investments and not drawn from underlying invested capital, William Sweeney, the head of the Federal Bureau…
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