Is Hauser Private Equity, Jailed for Fraud and Conspiracy?
Hauser Private Equity is an investment firm whose owner was convicted of fraud in 2021.
Mark Hauser, the founder of the Cincinnati-area firm was among the 50+ people who took part in a nationwide college admissions scam.
You can help us put a stop to online scams before they grow too big and end-up ruining thousands of lives. A scam is a scam, doesn’t matter if it’s big or small. Now that this is out of the way, let’s get started with the review.
The court had sentenced Mark Hauser to 2 months in prison.
Although the Hauser Private Equity owner has a house in Indian Hill, he primarily lives in Los Angeles.
Apart from Hauser Private Equity, he runs an insurance company as well.
According to the court documents, Mark had paid $40,000 to William Singer aka Rick, the man who ran the college admissions scheme.
Then, Mark disguised the money as a business consulting fee. Mark’s insurance firm paid the ‘consulting fee’ to William’s Edge College & Career Network.
According to the prosecutors, the offense was born not of “desperation but of privilege”.
They said the Hauser Private Equity owner corrupted a system that already favors his children.
Furthermore, Singer gave Mark a discount of $35,000 because he introduced him to other clients.
This included Mossimo Giannulli, the husband of Lori Loughlin and a fashion designer.
When the Owner of Hauser Private Equity Went to Jail:
Mark sent a letter to the federal judge handling the case and apologized. He said he accepted total responsibility for his actions.
The court ordered him to pay a $250,000 fine and perform 300 hours of community service.
Also, he had to self-report to a federal prison in August.
The Hauser Private Equity owner had moved his daughter’s ACT exam from her high school in Los Angeles to a school in Boston in 2016.
This school in Boston was under the control of William Singer.
To do this, Mark’s wife lied to the Los Angeles school saying they were facing some problems with a summer camp counseling job.
She told her daughter’s high school that a school in Cincinnati would accommodate her better.
The nefarious scheme also had a test administrator working at a public school in Houston.
According to the court documents, Nicki, the test administrator, involved another man named Mark Riddell in the scheme.
Singer had paid $5,000 and $10,000 in cash to Nicki.
On the other hand, Riddell corrected answers on the test of Mark’s daughter. This way, she was able to score in the top 5%.
Riddell made $10,000 from this scheme.
The Hauser Private Equity owner created a cover story to hide the payments. He claimed it was a donation to Winger’s fake charity organization.
Additional Information on the Case:
While Mark Hauser played a major role in the college admissions scheme, he wasn’t the only one who was charged. Over 30 people faced charges as a result of this scheme.
This included Giannulli, Loughlin as well as Felicity Huffman, an actor.
In response to the court verdict, Mark’s attorney claimed that Singer scammed him. He claimed that Mark’s daughter faced medical challenges which affected her grades. Hence, Singer preyed on Mark.
At least that’s what his lawyers claim.
The fact is, Mark Hauser of Hauser Private Equity pleaded guilty to taking part in the illegal admissions scheme.
About Hauser Private Equity:
Hauser Private Equity is a private equity firm. Its headquarters is in Cincinnati and its offices are in Illinois and California.
The firm claims to fund up to $2 billion depending on the underlying investment strategy. It seeks direct co-investment with funds that employ strategic investment models.
Their contact number is 513-745-9250. Similarly, their headquarters address is 5905 E Galbraith Rd Suite 9000, Cincinnati, OH 45236.
The managers of Hauser Private Equity target companies in financial services, healthcare, consumer goods, and industrial services verticals.
Conclusion
After going through these points, it’s clear that Hauser Private Equity is run by a fraudster who doesn’t hesitate to break laws.
You should stay away from such people as they can cause you to suffer significant losses for your gains.
For example, Dr. Michael Dattoli of Dattoli Cancer Center was using his wife’s name to commit prescription fraud. He went to jail last year. Such people have no regard for others.
The leadership of this private equity firm is unreliable. Hence, you should stay away from Hauser Private Equity.
It is hard to see that most parents want their children to study in good colleges and for this, they were indulged in fraud cases. Really this completely breaks my heart that for the better future of their kid, the people can do anything.
These forms of admission fraud must be stopped in society; how can someone bribe college authorities in order to have a child admitted to the best colleges? And also inviting others to take part in these types of bogus schemes.
If society has advanced and individuals are aware of these kinds of fraud? There will be fewer opportunities for these types of false schemes and frauds. People have to understand the underlying cause of this fraud and avoid it.
The Government needs to stop these corruptions at any cost and also make the rules and regulations regarding this issue. And why do these owners not understand that it would be hard for people to get their children admission in the reputed colleges?
Now if these scammers were not arrested then there would be very bad for the country. There are many scams in society but fraud in the educational sector was never tolerated at any cost.
These fraudsters were easily breaking the law and executing fraudulent activities. It is traumatic when people are deceived by someone and unable to get their hard-earned money.
It would be better to avoid these fraud schemes as these are a total waste of time and the people who are engaged in this are liable for the higher punishment. Such good it is I literally agree with all the evidence wich is mentioned in this article.
I appreciate the efforts of the courts but the court had to charge a higher punishment to these criminals who were engaged in these types of scams. People like Mark Hauser are the reason why most of the deserving candidates were not getting admission to the colleges.
There is no justification for all this. I wouldn’t give this equity firm any of my business after finding out about this.
Hauser Private Equity is not a good place to work at. Mr. Hauser is a nightmare as a boss.
A rich guy tries to pay his kid’s way into college? It’s disgusting. I wonder how the people working at Hauser Private Equity must think about it. Their boss is a convicted crook now.