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GPB Capital Lawsuit Filed Against Madison Avenue Securities

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The investment fraud lawyers with Haselkorn & Thibaut, P.A. have filed a customer dispute claim through the Financial Industry Regulatory Authority (“FINRA”) Office of Dispute Resolution. The private arbitration proceeding was filed against Madison Avenue Securities, LLC. (“Madison Avenue”) and its financial advisor Jeffrey Dixson (“Dixson”) on behalf of an investor who has sustained significant investment losses as a result of relying on his financial advisor’s recommendation to invest in GPB Capital (“GPB Capital”). 

It is believed that the GPB Capital funds should not have been approved for sale by Madison Avenue, and that the transactions were not properly recommended or supervised by Madison Avenue. Private placement securities such as GPB Capital are generally considered illiquid, and are often risky alternative investments. GPB Capital paid large commissions to financial advisors, and in some cases that appears to be a significant factor motivating the recommendations.

GPB Capital Holdings has worried investors because of the on-going investigations from various state and federal regulators and investigators. The raid by the FBI offices and allegations of questionable accounting and sales practices as well as inaccurate disclosures to investors has caused many investors to file claims and lawsuits.

The investigations started over a year ago, in April 2018, when GPB Capital first missed important financial disclosure filing deadlines with the SEC.

Since that time, there has been an avalanche of bad news for investors in GPB Capital. In June, GPB Capital confirmed the worst, informing GPB investors had lost between 25% and 73% of their investments. This news was shocking to many investors.

One of the primary allegations by investors is that they were misled into investing in GPB Capital and were unaware of the risks associated with private placements. Private placement investments are illiquid alternative investments that are only suitable for accredited investors and even then not always for every investor. 

If you are a GPB investor, call the investment fraud lawyers at Haselkorn & Thibaut, P.A. or visit them at www.InvestmentFraudLawyers.com, or call today at 1-888-628-5590 to schedule a free, confidential evaluation of your situation and to learn your options. 

H&T is a leading national securities law firm, www.InvestmentFraudLawyers.com, which practices almost exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors in large and complex securities matters. The firm represents high net-worth, ultra-high-net-worth, and institutional investors, such as non-profit organizations, pension funds, and trusts. H&T’s main office is located in prestigious Palm Beach, Florida and cases are handled nationwide.

The sole purpose of this release is to investigate the manner in which GPB Capital was approved for sale for investor customers at Madison Avenue. Former employees or current or former customers of Madison Avenue with knowledge relating to approval of and/or supervision of GPB Capital investments sold by Madison Avenue or to locate those individuals who have information relating to the manner in with the firm handled GPB investment recommendations and supervised such transactions at Madison Avenue. If you have any knowledge or experience with these matters you are encouraged to contact H&T at 1-888-628-5590, or visit the law firm’s website at www.InvestmentFraudLawyers.com.

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

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Business

Turning Tragedy into Triumph Through Walking With Anthony

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On the morning of February 6, 2010, Anthony Purcell took a moment to admire the churning surf before plunging into the waves off Miami Beach. Though he had made the dive numerous times before, that morning was destined to be different when he crashed into a hidden sandbar, sustaining bruises to his C5 and C6 vertebrae and breaking his neck.

“I was completely submerged and unable to rise to the surface,” Purcell recalls. “Fortunately, my cousin Bernie saw what was happening and came to my rescue. He saved my life, but things would never be the same after that dive.”

Like thousands of others who are confronted with a spinal cord injury (SCI), Purcell plunged headlong into long months of hopelessness and despair. Eventually, however, he learned to turn personal tragedy into triumph as he reached out to fellow SCI victims by launching Walking With Anthony.

Living with SCI: the first dark days

Initial rehabilitation for those with SCIs takes an average of three to six months, during which time they must relearn hundreds of fundamental skills and adjust to what feels like an entirely new body. Unfortunately, after 21 days, Purcell’s insurance stopped paying for this essential treatment, even though he had made only minimal improvement in such a short time.

“Insurance companies cover rehab costs for people with back injuries, but not for people with spinal cord injuries,” explains Purcell. “We were practically thrown to the curb. At that time, I was so immobile that I couldn’t even raise my arms to feed myself.”

Instead of giving up, Purcell’s mother chose to battle his SCI with long-term rehab. She enrolled Purcell in Project Walk, a rehabilitation facility located in Carlsbad, California, but one that came with an annual cost of over $100,000.

“My parents paid for rehabilitation treatment for over three years,” says Purcell. “Throughout that time, they taught me the importance of patience, compassion, and unconditional love.”

Yet despite his family’s support, Purcell still struggled. “Those were dark days when I couldn’t bring myself to accept the bleak prognosis ahead of me,” he says. “I faced life in a wheelchair and the never-ending struggle for healthcare access, coverage, and advocacy. I hit my share of low points, and there were times when I seriously contemplated giving up on life altogether.”

Purcell finds a new purpose in helping others with SCIs

After long months of depression and self-doubt, Purcell’s mother determined it was time for her son to find purpose beyond rehabilitation.

“My mom suggested I start Walking With Anthony to show people with spinal cord injuries that they were not alone,” Purcell remarks. “When I began to focus on other people besides myself, I realized that people all around the world with spinal cord injuries were suffering because of restrictions on coverage and healthcare access. The question that plagued me most was, ‘What about the people with spinal cord injuries who cannot afford the cost of rehabilitation?’ I had no idea how they were managing.”

Purcell and his mother knew they wanted to make a difference for other people with SCIs, starting with the creation of grants to help cover essentials like assistive technology and emergency finances. To date, they have helped over 100 SCI patients get back on their feet after suffering a similar life-altering accident.

Purcell demonstrates the power and necessity of rehab for people with SCIs

After targeted rehab, Purcell’s physical and mental health improved drastically. Today, he is able to care for himself, drive his own car, and has even returned to work.

“Thanks to my family’s financial and emotional support, I am making amazing physical improvement,” Purcell comments. “I mustered the strength to rebuild my life and even found the nerve to message Karen, a high school classmate I’d always had a thing for. We reconnected, our friendship evolved into love, and we tied the knot in 2017.”

After all that, Purcell found the drive to push toward one further personal triumph. He married but did not believe a family was in his future. Regardless of his remarkable progress, physicians told him biological children were not an option.

Despite being paralyzed from the chest down, Purcell continued to look for hope. Finally, Dr. Jesse Mills of UCLA Health’s Male Reproductive Medicine department assured Purcell and his wife that the right medical care and in vitro fertilization could make their dream of becoming parents a reality.

“Payton joined our family in the spring of 2023,” Purcell reports. “For so long, I believed my spinal cord injury had taken everything I cared about, but now I am grateful every day. I work to help other people with spinal cord injuries find the same joy and hope. We provide them with access to specialists, funding to pay for innovative treatments, and the desire to move forward with a focus on the future.”

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