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In a significant development for investors in GPB Capital Holdings, the private equity firm will move into receivership following a prolonged legal battle.
The Securities and Exchange Commission (SEC) has charged Cantor Fitzgerald, L.P. with causing two special purpose acquisition companies (SPACs) under its control to make misleading statements to investors before their initial public offerings (IPOs).
The SEC recently charged Ken Leech, former Co-CIO of Western Asset Management, with fraud.