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Frequently Asked Questions

If my contact information changes, how can I let the Receiver know?

What is a “receivership”?

When will I receive any of my investment back?

How much of my investment will I receive back?

What is the best way to get in touch with the Receiver if I have a question?

What do I need to do next?

Fourth Proposed Distribution:

How was my Defrauded Investor distribution calculated?

I am a member of an individually named plaintiff group. Will that affect the amount of the distribution I will receive?

When will I get my distribution? Will I receive any additional distributions?

How will the Receiver be sending distributions?

What if I have more than one type of claim (Administrative / Former-Employee / Convenience / Creditor / Defrauded Investor / Pass-through Investor)?

Do I have to file a response or anything else with the Court or the Receiver?

What is the deadline for objection to the Receiver’s proposed classification or distribution amount of your claim?

How do I get a copy of the Receiver’s Fourth Distribution Motion or the Declaration of Ronald F. Greenspan and attached exhibits?

I do not see my name on any of the Exhibits to the motion, why am I not included on this motion?


If my contact information changes, how can I let the Receiver know?

If your contact information changes, please complete the Change of Information Form that can be found here. The completed Change of Information Form must be sent to the Successor Trustee, as an attachment in portable document format (.pdf), to receivership@aequitascapital.com. Please note that it is the responsibility of Claimants, Administrative Claimants and other interested parties to keep the Receiver apprised with a current email and mailing address in order to receive notices or other communication from the Receiver or the Receivership Estate.

What is a “receivership”?

When a judicial enforcement action is brought by the U.S. Securities and Exchange Commission (the “SEC”) to enjoin conduct prohibited under various securities laws, the SEC frequently seeks appointment by the Court of a receiver to take control of the assets of the defendant pending the outcome of the litigation. The Receiver is an officer of, and overseen by, the Court. Accordingly, in this case, the Receiver was appointed by the United States District Court for the District of Oregon and charged with, among other things, marshaling and preserving the assets of the defendant entities pending a determination whether or not Aequitas Management, LLC, Aequitas Holdings, LLC, Aequitas Commercial Finance, Inc., Aequitas Capital Management, Inc., Aequitas Investment Management, LLC and Robert J. Jesenik, Brian A. Oliver, and N. Scott Gillis, and/or other defendants violated any securities law.

When will I receive any of my investment back?

Ultimately, the timing of a distribution is dependent on the claims resolution process and on the timing of court approval of the Receiver’s Fourth Distribution Motion. If there are no major objections that delay the distribution process, we anticipate being able to make the distribution in October-November of 2023. Defrauded Investors who otherwise qualify for a distribution might receive additional distributions in the future. However, it is not known at this time whether there will be an additional distribution and, if yes, when it may take place. Some Defrauded Investors who do not qualify for the current interim distribution may become eligible for future distributions, again, if such a distribution takes place. No further distributions are expected with regard to allowed claims that are fully resolved in the subject Motion for Classes other than the Defrauded Investors.

How much of my investment will I receive back?

Until all of the assets are monetized, all of the claims are determined and approved by the Court, and the distribution plan is approved, it is not possible to determine exactly what the ultimate recovery will be on an individual claim. The amount recovered on each claim will be determined based on the terms of the distribution plan ultimately approved by the Court and the total amount available for distribution. Many investors may or have already received distributions from separate settlements between investors and former Aequitas professionals and/or registered investment advisors that were achieved with the significant assistance from the Receiver and his professionals. Please see the Distribution Plan for illustrative information about Receivership distributions.

What is the best way to get in touch with the Receiver if I have a question?

The best way to contact the Receiver is to submit your question, along with your contact information, through the "Submit an Inquiry" tab on this website.

What do I need to do next?

The Receiver will periodically post case updates as well as other important information at this website. We encourage parties in interest to visit this website and check for updates periodically.

Fourth Proposed Distribution:

How was my Defrauded Investor distribution calculated?

For purposes of calculating this distribution, the Interim Recovery Threshold is thirty-five and twenty-three hundredth of a percent (35.23%). If the Receiver is specifying a non-zero Proposed Distribution, that amount is your Total Investment x the Interim Recovery Threshold (35.23%) minus any amounts received as a Pre-Receivership Return and Prior Interim Distribution. You may also want to review the Distribution Plan [Dkt. 787] at 45-55.

I am a member of an individually named plaintiff group. Will that affect the amount of the distribution I will receive?

Defrauded Investors who are members of an individually named plaintiff group have received moneys on account of the third-party settlements of those claims. You might also receive a distribution from the Receivership (that for some plaintiff groups may come to you via your legal counsel), which distribution might be somewhat more or less than the Receiver’s Calculated Interim Distribution. The difference can arise because the intra-group agreement might contain allocation provisions that differ from the Court-approved distribution plan.

When will I get my distribution? Will I receive any additional distributions?

Ultimately, the timing of a distribution is dependent on the claims resolution process and on the timing of court approval of the Receiver’s Fourth Distribution Motion. If there are no major objections that delay the distribution process, we anticipate being able to make the distribution in October-November of 2023. Defrauded Investors who otherwise qualify for a distribution might receive additional distributions in the future. However, it is not known at this time whether there will be an additional distribution and, if yes, when it may take place. Some Defrauded Investors who do not qualify for the current interim distribution may become eligible for future distributions, again, if such a distribution takes place. No further distributions are expected with regard to allowed claims that are fully resolved in the subject Motion for Classes other than the Defrauded Investors.

Additionally, you are highly encouraged to monitor this Receivership website and the www.AequitasClaims.com site for announcements and additional distribution or related information.

How will the Receiver be sending distributions?

Where a Claimant informed the Receiver in writing prior to the filing of this motion that the ownership of the Claim had been transferred, the Receiver will make a good faith effort to direct payment to the last known owner of the claim. Where appropriate, distributions may also be made to a Specified Claimant’s investment custodian or counsel. Some Defrauded Investors, for example, have investment accounts held by custodians or some Claimants might be represented by counsel. The Receiver is authorized and has discretion to make distributions to a Specified Claimant’s custodian or counsel and if not held in a custodial account, the distribution will be made directly to the Defrauded Investor.

You are further reminded that it is your responsibility to keep the Receiver apprised of your current email address, mailing address and any change in the custodian of your account. The Receiver’s latest information of the name of the custodian is set forth on the Exhibits attached to the subject Motion. If there has been an address or custodian change, please notify the Receiver by completing and emailing a Change of Information Form a link to which can be found on www.AequitasClaims.com. The completed Change of Information Form must be sent to the Receivership Estate by electronic mail, as an attachment in portable document format (.pdf), to Aequitas@epiqglobal.com.

What if I have more than one type of claim (Administrative / Former-Employee / Convenience / Creditor / Defrauded Investor / Pass-through Investor)?

To the extent you have more than one type of Allowed Claim (Administrative /Former-Employee / Convenience / Creditor / Defrauded Investor / Pass-through Investor), each of your claims is treated separately based on the type of claim. Exhibits 1-3 of the motion outline each type of claim and the amount to be distributed (if any) on that claim to the extent such determination has been made. The proposed distribution is calculated consistent with the provisions of the Court-approved Distribution Plan.

To the extent a single claim was submitted multiple times, for example by submission via email and regular mail, the claim is addressed or resolved as set forth in Exhibits 1 – 3 and the duplicate(s) claims are disallowed.

Do I have to file a response or anything else with the Court or the Receiver?

You do not need to file a response if you agree with the Classification, allowed claim amount and the distribution you are receiving, which are set forth in the exhibits attached to the Declaration of Ronald F. Greenspan filed in connection with the Receiver’s Fourth Distribution Motion. Your distribution will be made based on the information outlined in the Motion and the exhibits mentioned above.

If you believe the Court-approved Distribution Plan provides for the treatment of your claim different that the distribution set forth in the exhibits, or the Receiver has made an error in the manner in which your claim has been Classified or treated, then you should file a response with the Court (with a copy to the Receiver’s counsel, as detailed below) and discuss your objection with the Receiver. Should you have inquiries regarding the Receiver’s Fourth Distribution Motion you may submit your inquiry by email through this Receivership website or by email to Receiver’s counsel, Larry Ream at lream@schwabe.com and Troy Greenfield at tgreenfield@schwabe.com.

What is the deadline for objection to the Receiver’s proposed classification or distribution amount of your claim?

If you intend to object, you must do so no later than September 14, 2023 and you must serve a copy of your written objection on counsel for the Receiver (Troy Greenfield AND Larry Ream at Schwabe, Williamson & Wyatt, 1211 SW 5th, Suite 1900, Portland, OR 97204) AND file your written response with the United States District Court, District of Oregon, Portland Division, located at 1000 SW Third Ave., Portland, OR 97204.

How do I get a copy of the Receiver’s Fourth Distribution Motion or the Declaration of Ronald F. Greenspan and attached exhibits?

A copy of the Receiver’s Fourth Distribution Motion and the Declaration of Ronald F. Greenspan (and attached exhibits) can be found on this website. They can be found here:

I do not see my name on any of the Exhibits to the motion, why am I not included on this motion?

Should you have a question regarding the Receiver’s Fourth Distribution Motion you may submit your inquiry by email through this Receivership website or by email to Receiver’s counsel, Larry Ream at lream@schwabe.com and Troy Greenfield at tgreenfield@schwabe.com.