August 15, 2016 / 9:51 PM / 3 years ago

Lawsuit accuses auditors, lawyers of aiding Aequitas fraud

Investors who lost more than $44 million on securities sold by Oregon-based Aequitas Management have sued Deloitte & Touche, TD Ameritrade and several other professional services firms for allegedly aiding the shuttered investment company in an elaborate fraud.

Filed on Thursday in Oregon state court, the lawsuit said defendants gave Aequitas an appearance of credibility, helping it and dozens of interrelated companies conceal their precarious financial condition and a heavy concentration of risky student loan debt.

To read the full story on WestlawNext Practitioner Insights, click here:

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