Stoll Berne litigator Timothy DeJong said he suspects a Ponzi scheme at the investment company.
‘Aequitas was touting the liquidity of these private notes,’ he said. ‘If you look at the offering documents, what they didn’t disclose is they were completely dependent on new investment money coming in and they were also dependent on investors not redeeming their notes when they came due.
‘From what I’ve seen, based on the public information and information available, it does appear that there was a Ponzi scheme.’
(READ MORE: Portland Business Journal)