Mark Hauser, the head of Hauser Private Equity firm was found guilty of fraud in 2021.
Mark Hauser, started a company near Cincinnati and was one of the 50 people involved in a nationwide college applications scam.
Mark Hauser was given a prison term of 2 months by the judge.
Even though the owner of Hauser Private Equity has a house in Indian Hill, he lives in Los Angeles most of the time. He also runs an insurance business in addition to Hauser Private Equity.
Court records show that Mark gave $40,000 to William Singer, also known as “Rick,” who ran the college admissions scam.
Then, Mark made the money look like a fee for business consulting. Mark’s insurance company paid William’s Edge College & Career Network the “consulting fee.”
The authorities say that the crime was not caused by “desperation” but by “privilege.” People said that the owner of Hauser Private Equity messed up a system that already helped the kids.
Singer also gave Mark a $35,000 deal because Mark helped him get other clients. Mossimo Giannulli, Lori Loughlin’s husband and a fashion designer, was one of these people.
Hauser Private Equity Owner Faces Jail Time
When the owner of Hauser Private Equity went to jail, Mark wrote to the federal judge in charge of the case and said he was sorry. He said he took full blame for what he had done.
The judge told him that he had to pay a fine of $250,000 and do 300 hours of community service. Also, in August, he had to go to a federal jail on his own.
In 2016, the owner of Hauser Private Equity changed his daughter’s ACT from her Los Angeles high school to a school in Boston.
William Singer was in charge of this school in Boston. Mark’s wife told a Los Angeles school that they were having trouble with their summer camp counselor job.
She told her daughter’s high school that she would do better at a school in Cincinnati.
A test organizer at a public school in Houston was also part of the bad plan.
Court papers say that Nicki, who was in charge of the test, brought another guy named Mark Riddell into the scheme.
Singer had given Nicki cash payments of $5,000 and $10,000.
On the other hand, Riddell changed the answers that Mark’s daughter had written on her test. So, she got a score that put her in the top 5%.
With this plan, Riddell made $10,000.
The payments were hidden by a cover story made up by the owner of Hauser Private Equity. He said it was a gift to Winger’s made-up charity group.
More about the Case
Mark Hauser played a big part in the plan to get into college, but he wasn’t the only one who was charged. Because of this plan, more than 30 people were charged with crimes.
This was true for Giannulli, Loughlin, and the actress Felicity Huffman.
In answer to the court’s decision, Mark’s lawyer said that Singer had taken him for a ride. He said that Mark’s daughter had health problems that made her grades worse. So, Singer took advantage of Mark.
Mark admitted that he took part in the illegal admissions plan and pleaded guilty.
About Hauser Private Equity
Hauser Private Equity is a company that invests in private companies. Its main office is in Cincinnati, and it also has branches in California and Illinois.
The company says that, based on the investment strategy, it can fund up to $2 billion. It wants to put money directly into funds that use strategic investment methods.
The number to call them is 513-745-9250. In the same way, their main office is at 5905 E. Galbraith Rd., Suite 9000, Cincinnati, OH 45236.
The managers of Hauser Private Equity look for companies in the areas of financial services, healthcare, consumer goods, and industrial services.
From these points, it’s clear that Hauser Private Equity is run by a crook who doesn’t mind breaking the law.
You should stay away from these kinds of people because they can make you lose a lot for their small gains.
For example, Dr. Michael Dattoli of the Dattoli Cancer Center was writing fake prescriptions in the name of his wife. Last year, he went to jail. People like this don’t care about anyone else.
The people in charge of this private equity company can’t be trusted. Because of this, you should avoid Hauser Private Equity.
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