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Mark Hauser, the founder of Cincinnati, Ohio-based Hauser Private Equity and owner of the insurance firm Hauser Inc. was sentenced to two months in prison and fined $250,000 for his role in the U.S. college admissions scandal.
Hauser pled guilty in August 2019 to participating in the college admissions fraud scheme by paying $40,000 to rig his daughter’s ACT college entrance exam.
While Hauser’s conduct was not investment related, because of the guilty plea Hauser’s private equity firm, HPE Capital Management II LLC, must disclose information about the disciplinary event on Form ADV. Accordingly, Item 9 of HPE Capital Management II LLC’s Form ADV says Mr. Hauser took and “unpaid leave of absence.”