SEC v. American Equities, Inc.; American Eagle Mortgage Management, LLC; Ross C. Miles; and Maureen T. Wile, No. LR-26225, District of Oregon (Jan. 17, 2025) — Press Release
raw: American Equities, Inc., American Eagle Mortgage Management, LLC, Ross C. Miles, and Maureen T. Wile
American Equities, Inc., American Eagle Mortgage Management, LLC, Ross C. Miles, and Maureen T. Wile, No. 3:22-cv-00621-SB (Jan. 17, 2025)
summary
The SEC obtained final judgments against Ross C. Miles, Maureen T. Wile, and their firms for a decade-long scheme that defrauded investors of $15.5 million through private investment funds.
paragraph
The defendants were charged with violating Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934. Miles, American Equities, and American Eagle Mortgage Management were ordered to jointly and severally pay over $3.25 million in disgorgement, interest, and penalties. Additionally, Wile was ordered to pay approximately $132,000 in combined disgorgement, interest, and civil penalties.
narrative
The SEC secured final judgments against Ross C. Miles, Maureen T. Wile, American Equities, Inc., and American Eagle Mortgage Management, LLC, for a fraud spanning 2007 to 2018. The defendants raised approximately $15.5 million through 15 private investment funds while violating federal antifraud provisions. On January 15, 2025, the court ordered Miles and the corporate entities to jointly and severally pay $1,876,115.22 in disgorgement, $1,146,307.10 in interest, and a $230,464 civil penalty. Wile was separately ordered to pay $30,299 in disgorgement, $21,778.46 in interest, and an $80,000 civil penalty. Furthermore, Miles and Wile were barred from serving as officers or directors of any public company. The judgments also include permanent injunctions against future violations of federal securities laws.
Classified investment-adviser-fraud(confidence 95%). EDGAR detection: forms ADV/ADV-E/ADV-W/Form D· recall 33% / precision 13%. detection rule →
Parties
Securities and Exchange CommissionAmerican Equities, Inc.American Eagle Mortgage Management, LLCRoss C. MilesMaureen T. Wile
Keywords
americanamerican equitiesamerican eagleeagle mortgagemortgage managementmileswileross milesmiles maureenmaureen wileequitieseaglemortgagemanagementwile american
Extracted insights
Dollar amounts 7
- $15.50M $15.5 million $10M–$100M
- $1.88M $1,876,115 $1M–$10M
- $1.15M $1,146,307 $1M–$10M
- $230K $230,464 $100K–$1M
- $80K $80,000 $10K–$100K
- $30K $30,299 $10K–$100K
- $22K $21,778 $10K–$100K
Entities 3
- company be barred from serving as an officer or director of any public company
- agency Securities and Exchange Commission
- court u.s. district court for the district of oregon
Triples 7
- Securities And Exchange Commission charged Ross C. Miles, Maureen T. Wile, American Equities, Inc., and American Eagle Mortgage Management, LLC with violations of Section 17(a) of the Securities Act of 1933, and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder
- Securities And Exchange Commission alleged the defendants defrauded investors when they raised approximately $15.5 million in 15 private investment funds from 2007 to 2018
- U.S. District Court for the District of Oregon entered final consent judgments against Ross C. Miles, Maureen T. Wile, American Equities, Inc., and American Eagle Mortgage Management, LLC
- U.S. District Court for the District of Oregon ordered Ross C. Miles, American Equities, Inc., and American Eagle Mortgage Management, LLC to pay jointly and severally disgorgement of $1,876,115.22 plus prejudgment interest of $1,146,307.10, and a $230,464 civil penalty
- U.S. District Court for the District of Oregon ordered Maureen T. Wile to pay disgorgement of $30,299 plus prejudgment interest of $21,778.46, and a $80,000 civil penalty
- Ross C. Miles and Maureen T. Wile consented to be barred from serving as an officer or director of any public company
- Securities And Exchange Commission led litigation by Brent Smyth, Robert J. Durham Jr., and Kashya K. Shei of the San Francisco Regional Office
Extracted body text (2,126c)
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26225 / January 17, 2025 Securities and Exchange Commission v. American Equities, Inc., American Eagle Mortgage Management, LLC, Ross C. Miles, and Maureen T. Wile, No. 3:22-cv-00621-SB (D. Or. filed Apr. 27, 2022) SEC Obtains Final Judgments Against Washington State-Based Real Estate Investment Fund Managers That Defrauded Investors for More Than a Decade On January 15, 2025, the U.S. District Court for the District of Oregon entered final consent judgements against defendants Ross C. Miles, Maureen T. Wile, American Equities, Inc., and American Eagle Mortgage Management, LLC. The entry of the final consent judgments resolves all claims arising out of the SEC’s complaint, filed on April 27, 2022, which alleged that the defendants defrauded investors when they raised approximately $15.5 million in 15 private investment funds from 2007 to 2018. The SEC’s complaint charged Miles, Wile, American Equities, and American Eagle Mortgage Management with violations of Section 17(a) of the Securities Act of 1933, and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The defendants previously consented to judgments permanently enjoining them from violating the antifraud provisions of the federal securities laws described above, and Miles and Wile further consented to be barred from serving as an officer or director of any public company. The district court entered judgments imposing these remedies on April 28, 2022. On January 15, 2025, the district court entered final judgments ordering Miles, American Equities, and American Eagle Mortgage Management to pay, jointly and severally, disgorgement of $1,876,115.22 plus prejudgment interest of $1,146,307.10, and a $230,464 civil penalty. Additionally, Wile was ordered to pay disgorgement of $30,299 plus prejudgment interest of $21,778.46, and a $80,000 civil penalty. The SEC’s litigation was led by Brent Smyth, Robert J. Durham Jr., and Kashya K. Shei of the San Francisco Regional Office, with assistance from Crystal F. Boodoo of the Philadelphia Regional Office.
OCR text (2,126c · html-text · 99% conf)
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26225 / January 17, 2025 Securities and Exchange Commission v. American Equities, Inc., American Eagle Mortgage Management, LLC, Ross C. Miles, and Maureen T. Wile, No. 3:22-cv-00621-SB (D. Or. filed Apr. 27, 2022) SEC Obtains Final Judgments Against Washington State-Based Real Estate Investment Fund Managers That Defrauded Investors for More Than a Decade On January 15, 2025, the U.S. District Court for the District of Oregon entered final consent judgements against defendants Ross C. Miles, Maureen T. Wile, American Equities, Inc., and American Eagle Mortgage Management, LLC. The entry of the final consent judgments resolves all claims arising out of the SEC’s complaint, filed on April 27, 2022, which alleged that the defendants defrauded investors when they raised approximately $15.5 million in 15 private investment funds from 2007 to 2018. The SEC’s complaint charged Miles, Wile, American Equities, and American Eagle Mortgage Management with violations of Section 17(a) of the Securities Act of 1933, and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The defendants previously consented to judgments permanently enjoining them from violating the antifraud provisions of the federal securities laws described above, and Miles and Wile further consented to be barred from serving as an officer or director of any public company. The district court entered judgments imposing these remedies on April 28, 2022. On January 15, 2025, the district court entered final judgments ordering Miles, American Equities, and American Eagle Mortgage Management to pay, jointly and severally, disgorgement of $1,876,115.22 plus prejudgment interest of $1,146,307.10, and a $230,464 civil penalty. Additionally, Wile was ordered to pay disgorgement of $30,299 plus prejudgment interest of $21,778.46, and a $80,000 civil penalty. The SEC’s litigation was led by Brent Smyth, Robert J. Durham Jr., and Kashya K. Shei of the San Francisco Regional Office, with assistance from Crystal F. Boodoo of the Philadelphia Regional Office.