-
1 month ago | 
wsj.com | Ted Bunker
David Gentile and Jeffry Schneider orchestrated a $1.8 billion private-equity operation likened to a Ponzi schemeMay 9, 2025 5:54 pm ET|WSJ ProA federal judge ordered prison time for the architects of the biggest private-equity fraud since the collapse of Abraaj Group in 2018, sentencing both Friday for their roles in setting up GPB Capital Holdings and marketing its funds to everyday investors with promises of earning 8% returns.
-
2 months ago | 
wsj.com | Ted Bunker
A judge has authorized a court-appointed receiver to begin sending money back to investors who have been kept from their capital since late 2018April 9, 2025 5:25 pm ET|WSJ ProThousands of investors in GPB Capital Holdings funds may soon start to get some of their money back after a federal judge authorized the firm’s court-appointed receiver to begin an initial $400 million distribution.
-
Feb 28, 2025 | 
wsj.com | Ted Bunker
Two central figures convicted in the $1.8 billion GPB Capital Holdings fraud case want their legal expenses to be given priority over returning money to fund investors, even though about $75 million has already gone to their defense, firm receiver Joseph Gardemal said in a court filing about their requests.
-
Feb 12, 2025 | 
wsj.com | Ted Bunker
Two men awaiting sentencing on criminal fraud and conspiracy charges tied to roughly $1.8 billion invested with GPB Capital Holdings have objected to an initial plan to distribute hundreds of millions of dollars from the firm’s funds to investors, asserting that it unfairly leaves them out.
-
Dec 6, 2024 | 
wsj.com | Ted Bunker
Using Voldemort and terms like “our Idaho friend” for Anthony were part of a scheme that resulted in the formation of VitalCaring and led to Will’s decision Monday to impose penalties on the company, Vistria Group and Nautic Partners, including handing 43% of future earnings and exit gains to Encompass.
-
Dec 6, 2024 | 
wsj.com | Ted Bunker
At Nautic Partners, healthcare executive April Anthony became known as “Voldemort” as the private-equity firm worked with her to set up a competitor to her then-employer Encompass Health. Giving Anthony a code name helped conceal her involvement in creating what became VitalCaring, an in-home care provider in Dallas that she now leads, according to Delaware Chancery Court Vice Chancellor Lori Will.
-
Dec 4, 2024 | 
wsj.com | Ted Bunker
Thousands of investors in GPB Capital Holdings, a private-equity firm whose founders have been convicted on criminal fraud charges, may soon get at least some of their $1.7 billion back after a federal appeals court upheld an order putting GPB in receivership. Many GPB fund investors have waited more than six years for their cash. The ruling comes almost exactly a year after a lower court ordered GPB into receivership, an action that was appealed by founders David Gentile and Jeffry Schneider.
-
Nov 25, 2024 | 
privateequity.cmail19.com | Ted Bunker
Good morning! Today we have fundraising scoops from our Rod James, who reports on a drive by Neos Partners, and our Maria Armental, who has details on an Illumen Capital vehicle.
Neos collected more than $1.7 billion in barely three months for its second investment pool, including $350 million in co-investment commitments. Illumen brought in over $32.7 million to make direct investments in early-stage companies backed by diverse emerging fund managers as well as in those managers’ funds.
-
Sep 16, 2024 | 
wsj.com | Ted Bunker
Two men convicted of criminal conspiracy tied to GPB Capital Holdings asked for a new trial Friday, more than a month after a unanimous jury found both guilty in one of the largest-ever fraud cases involving a U.S. private-equity firm. Founder David Gentile and co-conspirator Jeffry Schneider had until Friday, Sept. 13, to request a new trial after their convictions on securities fraud and conspiracy charges in federal court on Aug. 1. U.S. District Judge Rachel P.
-
Sep 16, 2024 | 
privateequity.createsend1.com | Ted Bunker
@@@@@@@@URLPROCESSING:ON@@@@@@@@
@@@@@@@@------@@@@@@@@
@@@@EXCLUDE@@@@
@@@@EXCLUDE@@@@
@@@@EXCLUDE@@@@
@@@@EXCLUDE@@@@
Good morning! The deal pace showed few signs of slackening after the market digested the holiday pause in the U.S., as we have some two dozen rounded up here, including some significant exits.
