July 26, 2018

$18.5 Million To Resolve Litigation in Aequitas Management LLC Scheme

pyramid of dollars

Soreide Law Group has filed cases against brokers who sold Aequitas Management LLC and suffered devastating losses.  Investors can still file claims against financial advisors and brokerage firms that sold Aequitas for failing to do their due diligence on this Ponzi-like investment.
It was reported recently that the Portland, Oregon-based law firm, Tonkon Torp, has agreed to pay $18.5 million to resolve litigation accusing it and Sidley Austin, along with accounting firms and banks, of contributing to a Ponzi-like securities fraud by the now defunct investment fund, Aequitas Management LLC.
In a proposed class action settlement, Tonkon Torp would provide at least $12.9 million to a group of investors who alleged that the firm, along with others, helped Aequitas mislead them.  The law firm, Tonkon Torp, agreed to pay close to $5.6 million to settle actions brought by individual investors.  The settlements, if approved, will cost Tonkon $18.5 million.
The class action which has been proposed will represent more than 1,500 investors.  These investors claim they were owed more than $600 million on securities they bought from Aequitas before it declared insolvency in 2016. The investors allege the law firms and other defendants who provided legal counsel or financial services to Aequitas, between 2010 and 2016, helped contribute to alleged misconduct by Aequitas while selling securities and raising money from investors. The investors claim that Aequitas ran a Ponzi-like scheme, which relied on funds from new investors to repay other investors.
The lawsuit states that Aequitas allegedly failed to tell investors about issues regarding specific investments and manipulated finances to overstate the company’s standing.  A further complaint alleged that despite financial difficulties, Aequitas opened new offices, threw company parties, and flew in private planes, all on investors’ money.
If you or a loved one suffered significant losses in Aequitas Management LLC due to the actions or recommendations of your broker/dealer or financial advisor, contact Soreide Law Group and speak to a securities lawyer at no cost regarding the possible recovery of your financial losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group operates on a contingency fee basis and we represent our clients nationwide before FINRA.

S H A R E   T H I S   P O S T

Recent Posts

June 18, 2026
David Betman Connected To Morgan Stanley Investor Complaint About Unauthorized Trading

Investors may have suffered financial harm by securities broker David Jay Betman [CRD: 1380281, West Conshohocken, Pennsylvania], based on publicly available information found on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Betman has worked for Morgan Stanley since March 25, 2010, as a securities broker and since March 26, 2010, as a financial advisor. See the […]

June 18, 2026
Andrew Martz Faced LPL Financial Investor Complaint Re: Violation Of Reg BI

Investors potentially experienced sales practice violations by securities broker Andrew Martz [CRD: 5118326, Southlake, Texas], given the disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Andrew Martz worked for Western International Securities Inc. and Western International Securities from July 13, 2017, and July 14, 2017, respectively, through June 5, 2025, and has been registered with […]

June 18, 2026
Richard Brown Tied To Arete Wealth Management Investor Complaint Re: Omissions

Investors potentially incurred losses because of securities broker Richard Raymond Brown [CRD: 2541545, Valley Village, California], according to public information on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Brown worked for Lincoln Financial Advisors Corporation from December 19, 1997, to December 26, 2019, and has been associated with Arete Wealth Management LLC and Arete Wealth Advisors […]

Contact us Nationwide USA
2401 E. Atlantic Blvd., Suite 305, Pompano Beach, FL 33062
Helping clients recover money across the USA
search
Copyright © 2025 Soreide Law Group, PLLC  |  All Rights Reserved