March 10, 2016
Posted March 30, 2016
The SEC charged Oregon-based investment group Aequitas Management LLC and four affiliates, along with three top executives, with raising more than $350 million from investors while hiding the group’s rapidly deteriorating financial condition. Aequitas allegedly defrauded more than 1,500 investors nationwide into believing they were making health care, education, and transportation-related investments when their money was really being used in a last-ditch effort to save the firm, including using some new money to pay earlier investors. SEC
Tagged in: Misrepresentations, Ponzi Schemes, Securities Fraud,