GPB Capital Founder Denied New Trial in Ponzi-Like Fraud Case

GPB Capital Holdings LLC founder David Gentile won’t get a new trial or his indictment tossed after a jury convicted him of a Ponzi-like fraud that prosecutors said risked more than $1.8 billion from thousands of investors.

Judge Rachel P. Kovner denied Gentile and broker-dealer Jeffry Schneider’s requests for a judgment of acquittal and new trial in the US District Court for the Eastern District of New York on Tuesday.

She also denied Gentile’s motion, which Schneider joined, to dismiss the indictment based on prosecutorial misconduct. Former asset manager Gentile argued prosecutors solicited perjury, relied on false evidence, improperly ...