SEC Charges Fund Executives In Alleged Oregon Ponzi Scheme

Alleged Oregon Ponzi scheme broken up: After raising more than $350 million from over 1,500 investors, promising rates of return from 8.5% to 10%, hedge fund CEO Robert J. Jesenik and executive vice president Brian A. Oliver enjoyed life through the use of private jets, dinners and lucrative salaries. As they wined and dined prospective investors in Aequitas Funds (ACF), what was really happening, the U.S. Securities and Exchange charged, was a cover up that amounted to a Ponzi scheme.

Oregon Ponzi scheme: When faced with losses, SEC says fund turned to investors for operating funds

While they put on a front of success,...