Lake Oswego Investment Firm Executives Sentenced to Prison for Massive Fraud Conspiracy
Three former executives of the now-defunct investment firm Aequitas Management have been sentenced to federal prison for defrauding investors of nearly $300 million. Robert J. Jesenik, the former CEO, received a 14-year sentence, while Andrew N. MacRitchie, the executive vice president, was sentenced to 70 months, and Brian K. Rice, another executive vice president, received a 37-month sentence. The executives were found guilty of conspiring to commit mail and wire fraud and multiple counts of wire fraud. The fraud scheme, described as one of the largest investigated by the Portland FBI, caused significant financial harm to investors and resulted in delayed retirements, lost college savings, and other hardships.