The National Law Review wrote a piece today on the ways in which GPB Capital retaliated against employees who became whistleblowers and reported the firm to the US Securities and Exchange Commission.
As the article makes clear, retaliation against whistleblowers is illegal.
The National Review:
SEC Demonstrates Commitment to Protecting Whistleblowers
Tuesday, April 6, 2021
Last month, the Securities and Exchange Commission (“SEC” or the “Commission”) charged New York-based investment firm GPB Capital Holdings, LLC (“GPB”), and three affiliated individuals, with multiple counts of securities fraud. The complaint, filed by the SEC in the Eastern District of New York, alleges that the defendants ran a Ponzi-like scheme that raised over $1.7 billion while defrauding over 17,000 retail investors. It also alleges that the defendants violated the whistleblower protections of the Securities and Exchange Act by impeding two other employees from communicating with the SEC about these violations, and retaliating against a third employee who blew the whistle on this illegal scheme…
Categories: The Scientology Money Project