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Monitor, who oversees GPB Capital Holdings, the majority owner of Prime Automotive Group, wants to continue overseeing

Gentile, who has resigned as GPB CEO, and two employees have also been charged by the US Department of Justice with wire fraud, securities fraud, and securities fraud charges. Gentiles have pleaded not guilty to these accusations and wire fraud accusations.

Gardenal said in a letter that an external consultant had not completed the GPB audit and evaluation report.

“We will continue to work with management in developing the investment strategies that are most appropriate for each GPB fund in the future,” he writes. “In addition, my team continues to work with management in determining the most appropriate approach to holding or disposing of GPB’s specific assets.”

The SEC wanted to protect GPB’s assets, including more than 30 prime dealers, who said monitors would account for at least 70% of GPB’s revenue. Several states have also filed proceedings against the GPB and individual defendants.

The Prime Automotive Group in Westwood, Massachusetts is ranked 18th. Automotive News‘List of Top 150 Dealer Groups Based in the United States, it will retail 31,529 new cars in 2020.

https://njcar.org/automotive-news/dealer-headlines/monitor-overseeing-primes-majority-owner-wants-oversight-to-continue/ Monitor, who oversees GPB Capital Holdings, the majority owner of Prime Automotive Group, wants to continue overseeing

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