Private Placements - Law Offices of Robert Wayne Pearce

May 31, 2020

Did Hugh “Hobby” Barndollar of Land O’Lakes, Florida Sell You Any GPB Fund?

Let Us Help You Recover Your GPB Investment Losses! Hugh “Hobby” Barndollar is currently employed by Crown Capital Securities in Land O’Lakes, Florida. He has been registered with that broker dealer since March 2013. During the period April 2014 through the present he has also been employed by Barndollar Advisory Services Inc. During Mr. Barndollar’s securities industry career as a salesperson he has been the subject of three (3) customer complaints. We believe two (2) of the pending complaints filed while he was employed by Crown Capital Securities relate to private offer and sale of GPB Capital Holdings sponsored limited partnership interests. We are attorneys offering to help GPB investors who made private placement investments in the following limited partnerships offered and sold by Hugh “Hobby” Barndollar during his employment with Crown Capital Securities; that is, help them to rescind their GPB investment and/or recover their GPB investment losses: GPB Automotive Portfolio, LP GPB Cold Storage LP GPB Holdings, LP GPB Holdings II, LP GPB Holdings III, LP GPB Holdings Qualified, LP GPB NYC Development, LP GPB Waste Management Fund, LP

May 30, 2020

Did Darrin Cohen of Wealth Enhancement and Preservation of Ga. and Triad Advisors LLC Sell You Any GPB Fund?

Let Us Help You Recover Your GPB Investment Losses! Darrin Cohen is currently employed by Wealth Enhancement and Preservation of Ga. and registered as a stockbroker with Triad Advisors, LLC in Alpharetta, Georgia. During Mr. Cohen’s securities industry career as a salesperson he has been the subject of two customer complaints which are pending. We believe that both of these complaints relate to Mr. Cohen’s private offer and sale of one or more of the following GPB Capital Holdings sponsored limited partnership interests: GPB Automotive Portfolio, LP GPB Cold Storage LP GPB Holdings, LP GPB Holdings II, LP GPB Holdings III, LP GPB Holdings Qualified, LP GPB NYC Development, LP GPB Waste Management Fund, LP

May 29, 2020

Did Former Kalos Capital Broker Daniel Ray Saur Sell You Any GPB Fund?

Let Us Help You Recover Your GPB Investment Losses! Daniel Ray Saur was recently registered as a stockbroker with Kalos Capital, Inc. and employed by D.R. Saur Financial, Inc. in Dallas, Texas. During Mr. Saur’s securities industry career as a salesperson he has been the subject of three customer complaints. The results of those arbitrations were: two settled and one withdrawn. We believe at least one of these complaints relate to Mr. Sauer’s private offer and sale of GPB Capital Holdings sponsored limited partnership interests. We are attorneys offering to help investors who made private placement investments in the following limited partnerships which may have been offered and sold by Daniel Ray Saur while associated with Kalos Capital, Inc.; that is, help them to rescind their GPB investment and/or recover their GPB investment losses: GPB Automotive Portfolio, LP GPB Cold Storage LP GPB Holdings, LP GPB Holdings II, LP GPB Holdings III, LP GPB Holdings Qualified, LP GPB NYC Development, LP GPB Waste Management Fund, LP

May 28, 2020

Did Former Kalos Capital Broker Christopher Shaw Sell You Any GPB Fund?

Let Us Help You Recover Your GPB Investment Losses! Christopher Shaw is currently employed by Pruco Securities in Belmont, North Carolina. However, during the period 2011 through 2019, he was employed with Kalos Capital, Inc. in the same city in North Carolina. During Mr. Shaw’s securities industry career as a salesperson, he has been the subject of three customer complaints. All three of those complaints arose in connection with his employment with Kalos Capital. We believe one or more of these complaints relate to Mr. Shaw’s private offer and sale of GPB Capital Holdings sponsored limited partnership interests. All of those matters still appear to be pending. We are attorneys offering to help GPB investors who made private placement investments in the following limited partnerships that may have been offered and sold by Mr. Shaw during his employment with Kalos Capital; that is, help them to rescind their GPB investment and/or recover their GPB investment losses: GPB Automotive Portfolio, LP GPB Cold Storage LP GPB Holdings, LP GPB Holdings II, LP GPB Holdings III, LP GPB Holdings Qualified, LP GPB NYC Development, LP GPB Waste Management Fund, LP

May 27, 2020

Did Brian Frank of Ascendant Alternative Strategies Sell You Any GPB Fund or Any Other Private Placement Investment?

Let Us Help You Recover Your GPB Investment Losses! Brian Frank is currently employed by Ascendant Alternative Strategies, LLC since October 2017 in New York City, New York. During Mr. Frank’s securities industry career as a salesperson he has been the subject of three customer complaints. The results of those arbitrations were two settled in the investor’s favor and one remains pending. We believe the pending complaint relates to his private offer and sale of GPB Capital Holdings sponsored limited partnership interests and/or another private placement investment. We are attorneys offering to help GPB investors who made private placement investments in the following limited partnerships which may have been offered and sold by Brian Frank during his employment with Ascendant Alternative Strategies; that is, help them to rescind their GPB investment and/or recover their GPB and/or any other private placement investment losses. The GPB Fund and other private placement investments we are inquiring about include the following: GPB Automotive Portfolio, LP GPB Cold Storage LP GPB Holdings, LP GPB Holdings II, LP GPB Holdings III, LP GPB Holdings Qualified, LP GPB NYC Development, LP GPB Waste Management Fund, LP

Mar 9, 2020

Recover Your Steepener Investment Losses!

Robert Wayne Pearce, P.A. is investigating and representing investors nationwide that were sold steepeners, which are notes or CDs that pay varying levels of interest depending on the steepness or flatness of the yield curve. When the yield curve flattened in 2018, these steepeners rapidly declined in value and either stopped paying interest or paid much less interest. In 2019, the yield curve inverted and short term interest rates rose to a higher level than long term interest rates. This yield curve inversion caused even more losses. The negative impact on investors in the following types of structured products has been significant: Structured CDs, Market-Linked CDs, Leverage Callable CMS Curve Linked Notes, Callable Quarterly CMS Spread-Linked Notes, Callable Variable Rate Range Accrual CDs, Callable Interest Rate Spread CDs, Callable CMS Spread Notes, and Senior Callable CMS Steepener Notes.

Mar 4, 2020

Recover Your GPB Capital Investment Losses!

Robert Wayne Pearce, P.A. is investigating and representing investors against brokerage firms and financial advisors who offered and sold securities issued by affiliates of GPB Capital. GPB Capital Holdings, based out of New York, organized and manages the following nine private placements: GPB Automotive Portfolio, LP; GPB Cold Storage LP; GPB Holdings, LP; GPB Holdings II, LP; GPB Holdings III, LP; GPB Holdings Qualified, LP; GPB NYC Development, LP; and GPB Waste Management Fund, LP. GPB Capital’s two most significant investment funds are GPB Holdings II and GPB Automotive Portfolio. These two funds have collectively paid brokers $100 million in commissions at a rate of 7.9%! Over the last year, it has been the subject of a series of federal, state, and self-regulatory agency investigations and other bad news. For example, in September 2018, Massachusetts Secretary of the Commonwealth, William Galvin, announced an investigation into 63 broker-dealer firms that sold private placements sponsored by GPB Capital Holdings. More recently, in July 2019, David Rosenberg, a former business partner and chief executive of Prime Automotive Group, filed a lawsuit against GPB Capital Holdings, alleging severe financial misconduct. According to a Boston Globe article, Rosenberg allegedly accused GPB Capital Holdings of running a Ponzi-like scheme, in which it used investor money to prop up the performance of the auto dealerships it owns, as well as to finance payments to other investors.

Mar 2, 2020

Recover Your EquiAlt Investment Losses!

Robert Wayne Pearce, P.A. is investigating and representing investors against brokerage firms and financial advisors who offered and sold securities issued by affiliates of EquiAlt, LLC. EquiAlt is a private real estate company which organized at least four private placements: EquiAlt Fund, LLC; EquiAlt Fund II, LLC; EquiAlt Fund III, LLC; and EA Sip, LLC (collectively referred to as the EquiAlt Funds). According to a recent SEC Complaint, EquiAlt CEO Brian Davison and Managing Director Barry Rybicki offered and sold $170 million of unregistered debentures issued by the EquiAlt Funds to over 1,100 investors across the United States. The SEC Complaint alleged that Brian Davison, Barry Rybicki, and others misrepresented the unregistered debentures as “safe,” “low risk,” and “conservative.” Also, while investors were promised “that substantially all of their money would be used to purchase real estate in distressed markets in the United States and their investments would yield generous returns … EquiAlt, Davison, and Rybicki misappropriated millions in investor funds for their own personal use and benefit.” According to the SEC Complaint, the revenues generated by the EquiAlt Funds became insufficient to pay the interest owed to investors. Because of this insufficiency, the SEC alleged the Defendants resorted to fraud (a Ponzi scheme), using new money from investors to pay the returns promised to existing investors. While many of the sales were solicited by unregistered EquiAlt salespersons, there were reportedly many sales by small offices of registered salespersons associated with large independent FINRA-registered brokerage and insurance firms in Arizona, California, Nevada, and many other states nationwide.

Feb 19, 2020

Former NYLife Stockbroker David Q. Kendrick Suspended for Misconduct

David Quentin Kendrick of Shreveport, Louisiana submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was fined and suspended for allegedly engaging in private transactions in violation of NASD Rule 3040 and FINRA Rules 3270, 3280 and 2010. From May 2002 until May 2018, David Quentin Kendrick was registered with NYLife as a General Securities Representative. According to FINRA from November 2011 through January 2017, Kendrick engaged in an outside business activity with an investment club and also engaged in 9 separate private securities transactions without notice or approval from his firm. The FINRA findings stated in November 2011, Kendrick became officer and manager of an investment club, TC, but did not disclose his participation to his firm until August 2015. FINRA also stated that NYlife denied approval, and Kendrick continued his business with TC. According to FINRA Kendrick recommended and facilitated investments totaling $290,000 in three private placements and personally invested $106,297 in six different private placements. In addition, FINRA found, Kendrick failed to disclose all of his personal investments away from his firm and made false statements on six annual compliance questionnaires and five branch audit questionnaires concerning his private securities transactions.

Feb 8, 2019

Stockbroker Appeals for Investments in Athenian Hedge Fund

On July 30 Robert Russel Tweed of Glendale, California appealed an Office of Hearing Officers (OHO) decision to the National Adjudicatory Council (NAC) in which he was fined $50,000 and barred from association with any FINRA member in all capacities for allegedly in violating FINRA Rule 2010 and Sections 17(a)(2) and (3) of the securities act of 1933. The sanctions are not in effect, pending review of the OHO decision by the NAC.