$1.7 billion Ponzi scheme defrauded 17,000 investors, SEC says

The US Securities and Exchange Commission charged investment adviser GPB Capital Holdings and three executives on Thursday with defrauding over 17,000 retail investors in a Ponzi-like scheme that raised over $1.7 billion.

The US Securities and Exchange Commission charged investment adviser GPB Capital Holdings and three executives on Thursday with defrauding over 17,000 retail investors in a Ponzi-like scheme that raised over $1.7 billion.