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    Brendan Ross

    Individual

    Brendan Ross was the founder and CEO of Direct Lending Investments LLC (DLI), an investment advisory firm that managed over $1 billion in assets.34 He held this position from September 2012 to April 2019.3 DLI primarily focused on lending to specialty finance companies and other borrowers.3

    In August 2020, Ross was arrested by the FBI and charged with 10 counts of wire fraud for allegedly orchestrating a multi-year scheme to defraud investors.14 The Securities and Exchange Commission (SEC) filed a civil enforcement action against Ross, accusing him of manipulating payment data and inflating the value of funds managed by DLI.25

    According to the allegations, Ross falsified monthly reports to make it appear that borrowers were making payments on delinquent loans, when in fact these "payments" came from fee rebates.14 This scheme allegedly resulted in the inflation of fund values by over $300 million over about four years, allowing Ross to collect millions of dollars in unwarranted fees.12

    Prior to founding DLI, Ross held several other positions, including:

    1. President of Ross Asset Advisors, Inc. (May 2008 - August 2012)
    2. President & CEO of Razorgator (March 2009 - December 2010)
    3. President & CEO of Fanfare Media Works (July 2007 - May 2008)
    4. President of ReserveAmerica (January 2005 - July 2007)3

    Each count of wire fraud in the indictment against Ross carries a maximum sentence of 20 years in federal prison.14

    Highlights

    SEC Files Civil Enforcement Action Against Brendan Ross, Former ...
    SEC Files Civil Enforcement Action Against Brendan Ross, Former ...
    Aug 12 · thediwire.com
    SEC Charges Former RIA Principal with Data Manipulation and ...
    FBI Arrests Direct Lending Firm Founder for Alleged Fraud
    Aug 11 · sec.gov
    Brendan M. Ross - SEC.gov
    Sole private fund owner shown the door when advisory firm ...

    Related Questions

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    Brendan Ross
    Brendan Ross, photo 1
    Brendan Ross, photo 2
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    Location

    United States