(Daily Alts) The Securities and Exchange Commission (“SEC”) has charged Aequitas Management and four subsidiaries of defrauding more than 1,500 investors nationwide and enlisting them in a “Ponzi scheme.” Aequitas and its affiliated entities have agreed to a preliminary enjoinment against raising additional funds by offering and selling securities. The firm has also agreed to the appointment of a receiver to “marshal and preserve” remaining Aequitas assets for distribution to its allegedly defrauded investors.
The Securities and Exchange Commission (“SEC”) has charged Aequitas Management and four subsidiaries of defrauding more than 1,500 investors nationwide and enlisting them in a “Ponzi scheme.” Aequitas and its affiliated entities have agreed to a preliminary enjoinment against raising additional funds by offering and selling securities. The firm has also agreed to the appointment of a receiver to “marshal and preserve” remaining Aequitas assets for distribution to its allegedly defrauded investors.
