PORTLAND, Ore. (KOIN) — The former owner of a Lake Oswego investment company faces up to 30 years in prison after admitting to mail and wire fraud and money laundering.
Olaf Janke was both the owner and chief financial officer for Aequitas Management LLC, the US Attorney’s Office said. He used the company to get investments in notes and funds that were purportedly backed by receivables in various areas.
Beginning in June 2014 and going through February 2016, he and Brian Oliver attracted investors by misrepresenting their company’s financial health and risks attached.
Janke, Oliver and other co-conspirators also did not tell investors about “its near-constant liquidity and cash-flow crises” along with other money problems.
The 48-year-old Janke left Aequitas and cashed out his equity in March 2015, getting more than $1.3 million “knowing that it was paid with fraudulently obtained investor money,” the US Attorney’s Office said.
He’ll be sentenced September 25 by US District Court Judge Michael Simon. As part of his plea agreement, Janke will repay the victims in full.
Oliver, 54, pleaded guilty to the same charges on April 19, 2019.