Ponzi indictment raises questions of GPB Capital’s ties to downtown Clearwater


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Written by Tracey Mcmanus of Tampa Bay Times

Excerpt :
City Council member Mark Bunker asked publicly. GPB says it has no involvement in land buys tied to Scientology.
When GPB Capital CEO David Gentile was indicted last month for allegedly running a $1.8 billion Ponzi-like scheme, his roots in downtown Clearwater were already apparent.
At the time of his Feb. 4 arrest, Gentile’s New York-based GPB Capital had an office in One Clearwater Tower, two stories above where the city rents space for City Hall. In 2016 he bought a $1.7 million condo in downtown’s Water’s Edge, a short walk from the Church of Scientology’s international headquarters where Gentile is a parishioner and donor.
During a meeting Thursday, City Council member Mark Bunker discussed Gentile’s arrest and wondered whether he has deeper connections to the recent spate of obscure entities that have bought downtown real estate with cash.

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