Three months ago,
we posted a blog about former GL Capital Partners CEO Daniel Thibeault pleading guilty
to fraud charges. Now, the Securities and Exchange Commission (SEC) has
accepted an Offer of Settlement submitted by Thibeault.
As a result, Thibeault has been barred from association with any broker,
dealer, municipal advisor, municipal securities dealer, transfer agent,
investment adviser, or nationally recognized statistical rating organization.
On March 3, 2016, Thibeault pleaded guilty to charges of allegedly defrauding
investors of $15 million, using investors’ money in loans that were
not real. He also pleaded guilty of obstruction of justice after allegedly
making false statements to the SEC during the agency’s investigation.
He was accused of inducing investors to pool together contributions for
consumer loans transactions. He allegedly made false promises that the
returns would be made from interest. Instead, Thibeault allegedly reported
the fake loans as assets and concealed the misappropriation of roughly
He was arrested by the Federal Bureau of Investigation (FBI) in 2014, and
in 2015, the SEC filed their formal complaint against him.
If you lost money investing with former GL Capital Partners CEO Daniel
Thibeault, you may be able recover your losses. Call our securities fraud
lawyers at Meyer Wilson for a