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Second Trial Avoided Rather Less Auspicious For Private Equity Firm Than The First
It doesn’t sound like Merrick Garland is looking as kindly on the GPB boys as Bill Barr.
Author:
Mar 12, 2021
It doesn’t sound like Merrick Garland is looking as kindly on the GPB boys as Bill Barr.
It’s never ideal to be arrested and sued for allegedly running a nearly $2 billion Ponzi scheme while having a court-appointed monitor installed to keep future alleged Ponzi scheming to a minimum, but the folks in charge of car dealership private equity shop GPB Capital Holdings had some reason for optimism. For one, there is, we are told, “significant evidence” in their favor which, if it exists, would presumably throw into question whether they had actually defrauded more than 17,000 investors across the country to keep up on the Ferrari payments and to keep the private-jet flight attendant on the payroll. What’s more, the last time one of their number faced trial, ....

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