Let Us Help You Recover Your GPB Investment Losses!
Gary Lee Imel is currently employed by Ameriprise Financial Services, Inc. in Gig Harbor, Washington. But during the period June 2014 through August 2017 he was registered with Kalos Capital Inc. and prior thereto from October 2006 through June 2014 he was registered with Madison Avenue Securities Inc. Both brokerages were aggressive sellers of GPB Capital Holdings sponsored limited partnership interests. During Mr. Imel’s securities industry career as a salesperson he has been the subject of three customer complaints. The results of those arbitrations were: one closed and two are pending. Both of the pending complaints relate to Mr. Imel’s private offer and sale of GPB Capital Holdings sponsored limited partnership interests while he was working for Kalos Capital, Inc.
We are attorneys offering to help GPB investors who made private placement investments in the following limited partnerships offered and sold by Gary Lee Imel during his employment 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
According to reliable sources, GPB Capital Holdings’ other funds also reported declines in an estimated value of 25% to 73%.
For some reason, these investors still believe their investments in one or more of the above-listed limited partnerships (the “GPB Funds”) are still valuable even though they invested in a company:
- that is the subject of FBI, SEC, FINRA, State of Massachusetts and NYC Business Integrity Commission investigations
- that has missed filing mandatory SEC annual and quarterly statements for two years
- who announced its 2015 and 2016 financial statements admittedly needed to be restated because they were probably wrong
- who has been sued by a former business partner alleging it has been engaged in a massive Ponzi-like scheme for years
- that stopped making any distributions
- with no audited financial statements whatsoever since 2016
- whose Audit Committee quit due to perceived risks in the firms books and records
- that failed to send out Form K-1s in 2020
- whose Chief Compliance Officer was indicted for Obstruction of Justice
- that is a defendant in multiple class action lawsuits which usually only benefit the class action attorneys and result in paltry settlements for investors
GPB Capital investors are shocked when we tell them they immediately lost 8 to 10% of their investment the day they delivered the check due to the excessive commissions paid the broker who sold them. It’s true, GPB Capital has not filed bankruptcy and the company itself has not been indicted or proven to be a Ponzi-like scheme but we will bet GPB Capital investors have investment losses and so, you do not have to wait for someone to tell you it’s all gone.
Many GPB Fund investors are reporting that the stockbrokers and investment advisors who recommended the GPB Funds to them are telling them to hold off and not be so quick to file any suit or arbitration claim. Investors are being told the funds have assets and they have not suffered any losses. Why any investor would continue to believe any salesman is beyond comprehension given all the bad news, inaccurate financials and now the absence of any meaningful financial information? Any further delay in filing claims could be detrimental to your case and ability to obtain certain remedies under the law like rescission.
If you file a timely claim under certain securities statutes you could be entitled to rescind the investment transaction and receive a return of your entire investment plus legal interest from the date of purchase (less any income received) plus attorney fees and other expenses without proving any damages. The six year FINRA eligibility rule and some state statutes of limitation could prevent you from even having the opportunity to recover your GPB Fund losses if you delay taking action. Investors must not listen to any salesman giving them legal advice!
At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in GPB Funds and all kinds of private placement investment disputes in FINRA arbitration and mediation proceedings. The claims we file are for fraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations in violation of FINRA rules and industry standards. Attorney Pearce and his staff represent investors across the United States on a CONTINGENCY FEE basis which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award.
Se habla español
Contact Us For A Free Initial Consultation With Experienced Private Placement Investment Attorneys In FINRA Arbitrations
The Law Offices of Robert Wayne Pearce, P.A. has highly experienced lawyers who have successfully handled many private placement cases and other securities law matters and investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by an attorney with over 40 years of experience and success in your GPB Capital private placement case contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.