The media outlets on June 21, 2019, reported that GPB Capital declared that the GPB Capital share prices plummeted by 73%. This news is distressing for several GPB Capital fund investors as it has been reported that 2 of the biggest GPB investment funds suffered a significant loss in their value.
In spite of several reports from various sources, the investment financial advisors and brokerage companies, who received more than $100 million in the form of commissions by promoting GPB Capital, continued to tell their clients that the funds are still at their original price value. They are also continued recommending people to ignore the news and keep holding on to their investments.
The lawyers of www.InvestmentFraudLawyers.com (Haselkorn & Thibaut, P.A.) have filled several GPB Capital lawsuits for investors and are investigating the actions of investments financial advisors and brokerage companies who kept on suggesting these funds to their customers as well as the issues associated with GPB Capital. There is a limited time for fund investors for recovering their money, so if they are interested in getting a free consultation for their case, then they should call 1-888-628-5590.
For several months, numerous GPB Capital fund investors ignored the negative news and continued sitting on the sidelines as they kept on receiving mail regarding their monthly account statements where the funds reflected the original price value of the investment. Nevertheless, investment financial advisors and brokerage companies were well aware that the said values were inaccurate, yet they ignored these facts and left their client to fend for themselves.
With a significant drop in the value of GPB Automotive Portfolio and GPB Holdings II which are the most significant investment funds of GPB, people are now left thinking regarding what they need to do for recovering their damages. There are other investments too that may be affected by this decline in the value and these investments are GPB NYC Development, GPB Cold Storage, GPB Waste Management Fund, and GPB Holdings I. many clients might get a shock when they will get their monthly statement next time as it might be indicative of this fall in prices.
It was claimed on June 21, 2019, that the values of 2018 year-end are indicating significant losses for fund investors, and remember GPB Capital has not yet exposed the current and accurate value of its funds for 2019. Bearing in mind the declaration and the continued bad reports in 2018 regarding GPB Capital, it is highly expected that there is no chance of improvement in the present values of the funds.
GPB Capital suspended redemption in 2018 to allegedly concentrate on financial as well as accounting reporting issues. Later, it was revealed that GPB auditors resigned and the explanation given for it was perplexing as it was due to supposed risks. Numerous media outlets also informed that authorities and regulators such as FINRA, SEC and FBI had begun their investigations on GPB Capital and an unexpected raid was conducted in its office in New York to collect evidence. Amongst all these disputes, a rumor became prevalent that claimed GPB Capital to be a Ponzi scheme.
Why and how do so many people own so much GPB? The reason behind this is the greed of the investment financial advisors who promoted GPB investment funds to gullible people for getting 8% commissions from these purchases. It is claimed that the brokerage firms, as well as investment financial advisors, earned more than $100 million by suggesting and selling these investments to their clients. As a result of their greed, GPB Capital gained approximately $1.8 billion via these investments.
With approximately 60 brokerage companies including popular names like Woodbury Financial, Advisor Group, FSC Securities, Dawson James, and Sagepoint Financial and numerous investment financial advisors promoting and selling GPB funds over the past several years, the end result could be a huge damage for investors countrywide.
Investors affected by GPB Capital should plan to get a private and free review of their case from experienced lawyers to get an idea of available options should call 1-888-628-5590 to review their case and recover losses.
The Digital Gambling in China and Asia is Booming Rapidly
The Guangdong Club at Costa Rica in China is a famous online gambling platform. Hundreds of sessions for popular games as baccarat and blackjack, lotteries, and sports betting are offered here. A game of barely 30 seconds easily ropes in betting volumes around 75,000 yuan ($10,500) at any single baccarat table. The gambling out here has a digital twist in it as it allows the Chinese to bet without traveling to Macau or Las Vegas.
Gambling is an on growing trend in China. It seems the transactions are draining hundreds of millions of yuan from the country. Moreover betting is also considered as a tool that pumps in social unrest. However, Chinese law is against gambling and prohibits it on the mainland. Even online gambling has a strict no from the law. The Chinese government has issued many regulations for online gambling like telecommunication fraud and citizens being lured to work illegally in the Philippines.
But still the Chinese bettors somehow do manage to flock in to the digital gaming halls thereby fueling growth in Asia’s online gambling sector. According to market researcher Technavio, this year the sale is expected to reach $24 billion. The Chinese government is finding it hard to stop websites registered and operated abroad.
Several virtual casinos are operated out of Cambodia as well as other places licensed in the Philippines by the Guangdong Club. They host especially in countries where gambling sites like decasinos.de catering to international players are permitted. Costa Rica which seems to be the head office of the club however does not have an industry regulator or laws banning online casinos that provide gambling services overseas.
According to the club’s website, the gamblers can deposit money and receive their winnings via accounts at several Chinese banks such as Bank of China Ltd and Industrial & Commercial Bank of China Ltd as well as a few others. Some platforms do allow the gamblers to use popular online payment systems from Tencent Holdings Ltd and Ant Financial Services Group.
In this tough fight to restrict gambling portals from overseas China has managed to gain support from its neighbors. Cambodia has assured of not issuing any new online gambling licenses and also promises that they won’t renew existing ones when they expire. Philippines will also stop accepting applications for new licenses for some time.
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