Soreide Law Group is currently investigating, on behalf of investors:
Aequitas Income Opportunity Fund II
Many investors were allegedly advised by their financial advisors or brokers that they were investing in short term loans that would be redeemable during any 90 period. The investors also allege that they were NEVER advised at the time of purchase that Aequitas was having financial difficulties in their Income Opportunity Fund II.
There is currently litigation which alleges a scheme to defraud and misuse client assets in connection with investments offered through the Aequitas group of companies alleging that they have defrauded investors into thinking that they were investing in a portfolio of trade receivables in the healthcare, education, transportation, or consumer credit sectors. In reality, the lawsuit alleges, the vast majority of investor funds were used to repay prior investors and to pay the operating expenses of the Aequitas enterprise.
According to the lawsuit, the notes were typically offered on one to four year terms with interest rates generally between 5 and 15 percent. According to its financial records, Aequitas appears to have been profitable from 2011 to 2013. However, in May 2014 there were significant cash flow shortages. Allegedly redemption and interest payments to prior investors were being paid primarily from new investor money in a Ponzi-like scheme, and that very little investor money was being used to purchase trade receivables.
Despite the deteriorating financial condition Aequitas allegedly, in 2015, continued to raise funds from new investors and convincing prior investors to reinvest. The lawsuit alleges that they knowingly engaged in a scheme to defraud investors in Aequitas Funds making false and misleading statements, and material omissions of fact to investors.
If you invested in Aequitas Income Opportunity Fund II at the recommendation of your financial advisor or broker and experienced losses, call Soreide Law Group for a no cost consultation regarding the possible recovery of your financial losses at: 888-760-6552.
Soreide Law Group operates on a contingency fee basis and we represent clients nationwide before FINRA.
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