Is Hauser Private Equity, Jailed for Fraud and Conspiracy? (New Update 2023)
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.
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.
Mark Hauser, the founder and owner of Hauser Private Equity was arrested last year for fraud. He paid $40,000 to help his daughter score higher so she could get into better colleges. Also, he promoted the scheme and got other parents involved.
- Lack of ethics
- Convicted of fraud