GL Capital Partners' former CEO Daniel Thibeault sentenced to nine years in prison

Mr. Thibeault pled guilty to misappropriating around $15 million from the GL Beyond Income Fund.
MAR 14, 2016
By  Bloomberg
Daniel Thibeault, former CEO of the asset management firm GL Capital Partners, was sentenced to nine years in prison and ordered to make restitution of $15.3 million, according to the Securities and Exchange Commission. Mr. Thibeault had pled guilty in March to securities fraud in a scheme to use at least $15 million of fund money to issue fake loans. He had also admitted to obstruction of justice for the false statements he made to government authorities during their investigation. In 2014, Mr. Thibeault was arrested by the FBI on securities fraud charges, and in the following year, the SEC filed a related complaint. The complaint alleged that Mr. Thibeault, GL Capital Partners and other related entities had commited securities fraud and fraud by an investment adviser.

Latest News

Cetera’s latest round of job cuts to reduce 5% of staff
Cetera’s latest round of job cuts to reduce 5% of staff

Last week's layoffs totaled at least 130 Cetera employees, according to a senior industry executive.

Stocks rise ahead of packed week of earnings, data
Stocks rise ahead of packed week of earnings, data

Four of the Magnificent Seven will report this week.

Gold down more than 5% in less than a week
Gold down more than 5% in less than a week

Easing anxiety has seen the haven asset slide from record high.

Bond managers grapple with multiple unanswered questions
Bond managers grapple with multiple unanswered questions

Uncertainty remains challenging for Treasuries traders.

Consumers facing higher costs as Chinese firms pass on tariff burden
Consumers facing higher costs as Chinese firms pass on tariff burden

Move will raise concerns of inflationary impact of tariffs.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.