Fed’s GPB investigation puts spotlight on spending
The mention of GPB auditors in a court filing highlights earlier allegations of executives using clients' money for their own personal benefit. Focused on independent broker-dealers, GPB was a leading seller of high-risk private placements in the past decade.
Federal prosecutors pursuing criminal charges against senior GPB Capital executives on Monday said they had interviewed an accountant and auditor for the private placement firm, potentially raising questions of whether those executives had used investor money for personal expenses.
In February,
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