FINRA

Investigation: Former Axiom Capital Management, Inc Broker, Michael Packman, Reportedly Recommended GPB Capital Holdings to Customers

Published on: April 13, 2021 | by Iorio Altamirano

Iorio Altamirano LLP is currently investigating former Axiom Capital Management, Inc. broker Michael Packman, who reportedly recommended that his customers invest in private placement securities issued by GPB Capital. The GPB notes, which are private securities offerings exempt from registration with the Securities and Exchange Commission (SEC), are inherently risky investments. These investments are suitable only for highly sophisticated investors who understand the risks and can afford a significant monetary loss. Unfortunately, many brokerage firms and brokers sold the GPB Capital securities to retirees and unsophisticated investors because they paid a high up-front commission.

Mr. Packman was a broker at Axiom Capital Management, Inc. in Westbury, New York, from May 2015 to March 2018. Before he joined Axiom Capital Management, Inc. in 2018, he was associated with several disreputable brokerage firms, including Financial West Group and Continental Broker-Dealer Corp., both of which were expelled from the industry by FINRA.

Iorio Altamirano LLP is also investigating the sales practices and due diligence of Axiom Capital Management, Inc. related to its sale of GPB Capital funds. It is believed, according to reports, that Axiom Capital Management, Inc. has been subjected to numerous lawsuits from customers in the form of FINRA securities arbitration claims to recover investment losses.

Iorio Altamirano LLP Investigates Moloney Securities Co., Inc. Over GPB Funds

Published on: April 13, 2021 | by Iorio Altamirano

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors. According to publicly available records filed with the SEC, broker-dealer Moloney Securities Co., Inc. likely received sales compensation for selling the GPB funds to retail investors.

Moloney Securities Co., Inc. has faced numerous FINRA arbitration complaints from customers seeking to recover investment losses. Current and former Moloney Securities Co., Inc. brokers may have recommended GPB Capital funds, or other investments in private placement offerings to clients, including:

Jeffrey Max Cohen;

Iorio Altamirano LLP Investigates Investment Architects, Inc. Over GPB Funds

Published on: April 13, 2021 | by Iorio Altamirano

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors. According to publicly available records filed with the SEC, broker-dealer Investment Architects, Inc. likely received sales compensation for selling the GPB funds to retail investors.

If you lost money in GPB funds with Investment Architects, Inc., you may have a claim.

The SEC has charged GPB Capital, Ascendant Capital, and Ascendant Alternative Strategies with running a Ponzi-like scheme that raised roughly $1.8 billion from securities issued by GPB Capital. The SEC believes that as many as 17,000 retail investors nationwide have been defrauded.

Iorio Altamirano LLP Investigates Landolt Securities, Inc. Over GPB Funds

Published on: April 13, 2021 | by Iorio Altamirano

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors. According to publicly available records filed with the SEC, broker-dealer Landolt Securities, Inc. likely received sales compensation for selling the GPB funds to retail investors.

If you lost money in GPB funds with Landolt Securities, Inc., you may have a claim.

The SEC has charged GPB Capital, Ascendant Capital, and Ascendant Alternative Strategies with running a Ponzi-like scheme that raised roughly $1.8 billion from securities issued by GPB Capital. The SEC believes that as many as 17,000 retail investors nationwide have been defrauded.

Iorio Altamirano LLP Investigates Lowell & Company, Inc. Over GPB Funds

Published on: April 13, 2021 | by Iorio Altamirano

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors. According to publicly available records filed with the SEC, broker-dealer Lowell & Company, Inc. likely received sales compensation for selling the GPB funds to retail investors.

If you lost money in GPB funds with Lowell & Company, Inc., you may have a claim.

The SEC has charged GPB Capital, Ascendant Capital, and Ascendant Alternative Strategies with running a Ponzi-like scheme that raised roughly $1.8 billion from securities issued by GPB Capital. The SEC believes that as many as 17,000 retail investors nationwide have been defrauded.

Iorio Altamirano LLP Investigates Great Point Capital LLC Over GPB Funds

Published on: April 13, 2021 | by Iorio Altamirano

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors. According to publicly available records filed with the SEC, broker-dealer Great Point Capital LLC likely received sales compensation for selling the GPB funds to retail investors.

If you lost money in GPB funds with Great Point Capital LLC, you may have a claim.

The SEC has charged GPB Capital, Ascendant Capital, and Ascendant Alternative Strategies with running a Ponzi-like scheme that raised roughly $1.8 billion from securities issued by GPB Capital. The SEC believes that as many as 17,000 retail investors nationwide have been defrauded.

Iorio Altamirano LLP Investigates WestPark Capital, Inc. Over GPB Funds

Published on: April 13, 2021 | by Iorio Altamirano

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors. According to publicly available records filed with the SEC, broker-dealer WestPark Capital, Inc. likely received sales compensation for selling the GPB funds to retail investors.

If you lost money in GPB funds with WestPark Capital, Inc., you may have a claim.

Former WestPark Capital, Inc. broker John Reilly may have recommended GPB Capital funds or other investments in private placement offerings to clients.

Iorio Altamirano LLP Investigates Dinosaur Financial Group, L.L.C. Over GPB Funds

Published on: April 13, 2021 | by Iorio Altamirano

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors. According to publicly available records filed with the SEC, broker-dealer Dinosaur Financial Group, L.L.C. likely received sales compensation for selling the GPB funds to retail investors.

If you lost money in GPB funds with Dinosaur Financial Group, L.L.C., you may have a claim.

Former Dinosaur Financial Group, L.L.C. broker David Michael Karandos may have recommended GPB Capital funds or other investments in private placement offerings to clients.

Iorio Altamirano LLP Investigates Dempsey Lord Smith, LLC Over GPB Funds

Published on: April 13, 2021 | by Iorio Altamirano

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors. According to publicly available records filed with the SEC, broker-dealer Dempsey Lord Smith, LLC likely received sales compensation for selling the GPB funds to retail investors.

If you lost money in GPB funds with Dempsey Lord Smith, LLC, you may have a claim.

The SEC has charged GPB Capital, Ascendant Capital, and Ascendant Alternative Strategies with running a Ponzi-like scheme that raised roughly $1.8 billion from securities issued by GPB Capital. The SEC believes that as many as 17,000 retail investors nationwide have been defrauded.

Iorio Altamirano LLP Investigates MSC – BD, LLC Over GPB Funds

Published on: April 13, 2021 | by Iorio Altamirano

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors. According to publicly available records filed with the SEC, broker-dealer MSC – BD, LLC likely received sales compensation for selling the GPB funds to retail investors.

MSC – BD, LLC is facing at least one FINRA arbitration complaint from a customer seeking to recover investment losses in GPB funds. The MSC – BD, LLC broker involved in the arbitration is Robert Malone Fehrman.

If you lost money in GPB funds with MSC – BD, LLC, you may have a claim.