Site icon Focus Hills Boro

Multiple Convictions Were Issued Against Aequitas Executives

Multiple Convictions Were Issued Against Aequitas Executives

Three former Aequitas Capital Management executives were found guilty by a federal jury in Portland on several counts in the most significant white-collar criminal case in Oregon’s history. Some of the charges against the three were dropped.

You can see a tweet of above information-

A 30-count indictment was filed against ex-Aequitas executives Robert Jesenik, Brian Rice, and Andrew MacRitchie. Aequitas was accused because an SEC probe discovered the company had “Ponzi-like” characteristics.

Multiple charges of wire fraud and one count of conspiracy to commit wire and mail fraud were found faithful for all three defendants by the jury. In addition to causing a false statement on a bank loan application, former Aequitas CEO Jesenik was found guilty.

Money laundering charges were dropped against all three defendants. The sentencing hearing will occur in the exact Portland, Oregon, U.S. District Courtroom where the trial was held on September 7.

The most up-to-date details about recent events in Portland are as follows:

At its peak, Aequitas managed over $1 billion in assets with a staff 150. At its collapse, the company owed investors $600 million, and around half of that sum was recouped through the sale of assets.

Prosecutors claim that Aequitas was a Ponzi scheme that operated for at least 18 months, beginning in June 2014 when Corinthian Colleges stopped making monthly recourse payments of $5 million on the student loan debt Aequitas had purchased. Assistant U.S. Attorney Chris Cardani told the jury that Aequitas was in trouble long before that.

Louis Ebert

Louis Ebert is a talented content writer with a passion for creating compelling stories and informative articles. With years of experience in writing, Louis has honed their skills in crafting engaging content that resonates with readers. As a content writer for Focushillsboro.com, Louis explores the many facets of life in Hillsboro and the surrounding areas. From delving into the latest trends in local business to highlighting community events and leaders, their writing offers a unique perspective that captures the essence of the area.

Exit mobile version