Tag Archives: aequitas

Aequitas- Koin 6 News

Bob Banks, securities attorney with Samuels, Yoelin, Kantor LLP speaks with Koin 6 News last week about the impact of the Aequitas situation on investors

 

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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Banks noted as key face in the Aequitas Drama

Portland Business Journal touts Samuels Yoelin Kantor securities attorney Robert Banks as key face in Aequitas Drama

key faces

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 Commercial Finance documents point toward Ponzi

Aequitas Ponzi- Could it be?

I received a document from a confidential source that was prepared by Aequitas and is quite enlightening.  It is written about the Aequitas Private Notes issued by ACF (Aequitas Commercial Finance), and is dated the third quarter of 2015.

It states “ACF uses proceeds from Private Notes primarily to repay prior investors.”  I interpret that to mean that the company did not have the assets to pay prior investors from its regular course of business.  I define a Ponzi Scheme as an investment scheme that operates by using new investor money to pay prior investors and creating the illusion that distributions are from operations, when they are not.

 It is beginning to sound a lot like Ponzi at Aequitas

Investors in the  ACF Private Notes who were unaware of this fact when  they made their purchases have legitimate reasons to complain, and to file claims against Aequitas principals and the advisors who sold those notes.   The law requires that investors be told all of the material facts if they are solicited to make a purchase.
So far we don’t know whether the other Aequitas programs also used new investor money to pay existing investors, but we will find out.

Samuels Yoelin Kantor securities attorneys Robert Banks and Darlene Pasiczny are heading up the Aequitas investigation. Mr. Banks recently updated concerned investors with information regarding their choices for pursuing recovery. Please contact our office to discuss your situation confidentially. You can call 800-647-8130 or reach us by email atbbanks@samuelslaw.com or info@investordefenders.com

 

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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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Problems With Aequitas – Is Your Investment Safe?

If you have money invested with Aequitas Capital Management, you have reason to be concerned. Please check back for updates as we continue our investigation. We are interested in speaking with investors as we gather information. Please call our office at 800.647.8130.

Among The Aequitas Entities Are The Following:

  • Aequitas Investment Management, LLC
  • Aequitas Capital Management, Inc.
  • Aequitas Holdings, LLC
  • Aequitas Commercial Finance, LLC
  • Care Payment, LLC
  • Aequitas Consumer Credit, LLC
  • Unigo.com
  • MotoLease Financial, LLC
  • Aequitas Equipment Finance LLC
  • DC Equipment Finance, LLC
  • Aequitas ETC Founders Fund
  • Aequitas Income Opportunity Fund, LLC
  • Aequitas Income Opportunity Fund II, LLC
  • Aequitas WRFF I, LLC
  • Aequitas Capital Opportunities Fund

Robert Banks is a nationally recognized securities attorney who fights on behalf or investors in FINRA arbitration and in court. Review his credentials and contact us for a complimentary evaluation.

 

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Disclaimer: The materials on this website are for informational purposes only and not for the purpose of providing legal advice. You should consult an attorney with respect to advice applicable to your particular situation or issue. Opinions expressed on or through this site are the opinions of the individual author only and may not reflect the opinion of the firm, its attorneys or its clients. Use of this website is not intended to create an attorney-client relationship between Samuels, Yoelin, Kantor and users of this website. Please do not send us any information you regard as confidential unless we request it because we do not have a duty to treat non-client information as confidential.