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Aequitas Investigation – Financial Advisers and Firms

It is tragic to consider the number of people impacted by the Aequitas situation. We have received calls from all around the world from people who have lost significant amounts of money. We have posted  (below) a partial list of financial advisors and firms mentioned in our conversations with victims. We encourage anyone with financial losses or information about this situation to contact us at 800-647-8130 or by e-mail at info@investordefenders.com.
If you’ve lost money in this situation, it is important for you to take make choices about your actions soon. Please read our posts about your choices and contact our office to discuss the specifics of your situation.
Bob Banks and Darlene Pasieczny head up the Investor Defenders practice group at Samuels Yoelin Kantor LLP. Bob has over three decades of experience representing investors to recover financial losses. You can reach him directly at bbanks@samuelslaw.com

Fariba Ronnasi

Fusion Analytics Investment Partners

Malloy Wealth Management

Bill Malloy

Doug Maurer

Private  Advisory Group

Jason Vanclef

VFG Securities

VFG Advisors

Fieldstone Financial

Kristopher Behn

Enviso Capital

Criterion

Chris Bean

Douglas Bean

Consort

Tom Szabo

Bryan Bowers

Tony Ramirez

Mark McArthur

Bill Mallery

Larry Dozier

Craig Johnsen

Eric Willer

Malloy Wealth Management

Etesian Wealth Advisors

If you have questions, concerns, or information about Aequitas investments, please contact our office at 800.647.8130. Our home page gives an introduction to this informational site and you may review our extensive credentials and experience here.

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Securities and Exchange Commission (SEC) Charges Aequitas

March 10, 2016.  Today the Securities and Exchange Commission filed a lawsuit in federal district court in Portland, charging Aequitas and three top executives with defrauding investors. The SEC  press release   reports that Aequitas hid its dire financial condition while raising more than $350 million from investors. Moreover, the complaint alleges that money from new investors was used to pay earlier investors – a Ponzi scheme.

The SEC’s complaint is posted here .  Aequitas executives Robert J. Jesenik , Brian Oliver, and Scott Gillis are named as defendants in the complaint, which alleges that they were all well aware of the deteriorating financial condition when they continued to accept precious savings from trusting investors.

Aequitas Management, Aequitas Holdings LLC, Aequitas Commerical Finance LLC, Aequitas Capital Management Inc., and Aequitas Investment Management LLC as well as top executives Jesenik, Oliver, and Gillis are all charged by the SEC with violation of the federal securities laws.

We knew the SEC’s investigation was occurring, and are not surprised by the SEC filing.  In fact, some of its allegations are similar to allegations we made in a case we filed earlier this week for some of our clients.   The  SEC complaint does shed some light on just how bad the financial situation was at Aequitas, and for how long.  The complaint alleges that “By at least July 2014, Jesenik and Oliver knew that redemptions and interest payments to prior investors were being paid primarily from new investor money in a Ponzi-like fashion, and that very little investor money was being used to purchase trade receivables. The cash flow shortages at ACF and Aequitas Holdings continued with increased severity through 2015.”

For recent updates, see Aequitas Updates.

If you have questions about how this latest SEC action will affect your Aequitas investment, contact our office at 800.647.8130 or bbanks@samuelslaw.com.Our home page gives an introduction to this informational site and you may review our extensive credentials and experience here.

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What is going to happen to my Aequitas investment?

At this point, nobody can say with certainty what will happen to Aequitas

No one knows the answer to that question with certainty. Dividend payments have been suspended. Aequitas is reporting that it has hired a restructuring company to evaluate the situation. To me, that means that Aequitas is considering an orderly liquidation of the company and its assets. Given the recent mass layoffs, the suspension of dividends, the SEC investigation, and the way that the notes were reportedly marketed and sold, my best guess is that Aequitas will end up either in a bankruptcy or some court-supervised liquidation. Hopefully, that will result in a return of at least some of the principal back to investors, but that will depend upon a number of factors, including what assets are available after paying the costs of the liquidation, the number of creditors who may have to be paid before investors, and the number and amount of investor claims out there.

You are welcome to call our office to discuss your situation with Mr. Banks, a securities attorney with more than 33 years representing investors in arbitration and in court.

If you have questions, concerns, or information about Aequitas investments, please contact our office at 800.647.8130. Our home page gives an introduction to this informational site and you may review our extensive credentials and experience here.

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Aequitas News Chronology

A review of the news since July 2015:

07/15/2015- Aequitas played crucial role in Corinthian student loans deemed predatory

01/25/2016 – Aequitas Capital reorganizes and downsizes

01/30/2016 – Aequitas financial ills accelerate with second layoff in a week

02/01/2016 – More layoffs for Aequitas as ‘skeleton crew’ prepares to lead once-prosperous firm

02/05/2016 – Matthew Kish: The unanswered questions about Aequitas

02/18/2016 – Aequitas announces plans to lay off 80 workers

02/22/2016 – Investment adviser: Aequitas lied to investors, hid financial weakness

02/22/2016 – Law firms launch Aequitas investigations, one alleges ‘Ponzi scheme’

02/23/2016 – Report: Aequitas Capital Under Investigation Amidst ‘Stunning’ Collapse

03/04/2016 –  A look at Aequitas – history of litigation

 

If you have questions, concerns, or information about Aequitas investments, please contact our office at 800.647.8130. Our home page gives an introduction to this informational site and you may review our extensive credentials and experience here.

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