brian oliver, aequitasbrian oliver, aequitas

The court also required Robert J. Jesenik, the firms former CEO, and Brian A. Oliver, its former executive vice president, to pay $940,806 and $235,928, respectively, in disgorgement and interest. Brian Rice and Scott Gillis, two of the company's six senior partners, resigned in recent weeks. It is believed that since he was ousted from Aequitas, Jesenik has been. Aequitas Management LLC and four affiliates allegedly defrauded more than 1,500 investors nationwide into believing they were making health care, education, and transportation-related investments when their money was really being used in a last-ditch effort to save the firm. The third policy is now being consumed even though the criminal case is just getting underway and the pool of potential defendants is expanding. YouTubes privacy policy is available here and YouTubes terms of service is available here. Plus, three other Aequitas defendants former second-in-command Brian Oliver and N. Scott Gillis and Olaf Janke, former Aequitas chief financial officers have pleaded guilty to fraud and. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. It is being prosecuted by Scott E. Bradford and Ryan W. Bounds, Assistant U.S. 1000 SW Third Ave Suite 600 Over the last few years Cathedral has really provided sage advice as weve been growing our green building companies. (Entered: 04/19/2019) But I think my clients will be thrilled. CEO Robert Jesenik will have to pay $1.57 million to settle fraud charges, while executive vice president Brian A. Oliver and former CFO N. Scott Gillis will each have to pay hundreds of thousands of dollars as part of a consent decree finalized in Oregon federal court on April 13. Email USAO-OR. The firm sold more than $300 million worth of private investment notes, mostly through financial advisers. U.S. Attorney's Office, District of Oregon, Former Aequitas Senior Executive and Chief Financial Officer Pleads Guilty to Making False Statements to a Creditor, Forsage Founders Indicted in $340M DeFi Crypto Scheme, Russian Cryptocurrency Money Launderer Pleads Guilty, Former Fugitive Wanted in Oregon for Real Estate Scam Pleads Guilty, Former Aequitas Senior Executive and Chief Financial Officer Pleads Guilty To Making False Statements To a Creditor. A .gov website belongs to an official government organization in the United States. YouTubes privacy policy is available here and YouTubes terms of service is available here. Chris Kayser, a Portland lawyer who represented 120 people who had invested in Aequitas, saw firsthand how unsophisticated investors were taken advantage of. Brian Rice and Scott Gillis, two of the company's six senior partners, resigned in recent weeks. Defendant waived reading of the Information. Oliver is the 25% owner of Aequitas Management and an Executive Vice President of the Entity Defendants. There was no more hiding the fact that Aequitas was broke. Longtime Aequitas No. Counsel Present for Defendant: Whitney Boise, Kendra Matthews. Main Office: MacRitchie oversaw all Aequitas accounting, legal, and audit functions, and participated in fundraising. He will be sentenced on June 27, 2023 by U.S. District Court Judge Michael H. Simon. Gillis was charged alongside former Aequitas CEO Robert J. Jesenik, 62, of West Linn, Oregon, and former Aequitas executives Brian K. Rice, 55, of Portland, and Andrew N. MacRitchie, 56, formerly of Palm Harbor, Florida. Brian has over 30 years experience in providing corporate finance and consulting solutions to small and medium sized businesses. His attorneys have submitted bills for at least 2.7 million, far more than any other defendant. As U.S. Judge Magistrate Paul Papak noted in an October 2017 ruling, at that point 61 percent of the defense cost payments went to Jeseniks lawyers. | Store Court finds guilty pleas to be knowing and voluntary. Accounting giant Deloitte, stock trader T.D. Ledger left the company in 2005 in a highly controversial and public way. Share sensitive information only on official, secure websites. Brian and his wife of 30 years live in Aurora, Oregon where they raised their family. Court finds defendant capable and competent to enter plea. A federal court in Oregon entered final judgments against Aequitas Management requiring the firms receiver to pay $453 million in disgorgement. ) or https:// means youve safely connected to the .gov website. If you need help with finances, they've got that covered. Previously, Brian was an Executive VP, Business Development at Alternative Asset Management. They are also prohibited from violating the SECs antifraud provisions. The sentencing for former Aequitas Capital executive Brian Oliver has been moved again. But it appears they are far from done. Former Aequitas CEO testifies in divorce trial Brian A Oliver is Exec VP & Pres:Financial Svcs at Aequitas Capital Mgmt Inc. See Brian A Oliver's compensation, career history, education, & memberships. | Recent Lawyer Listings If convicted on all charges, each of the defendants could face decades in prison and millions of dollars in fines and restitution, as well as five years supervised release following their prison terms. U.S. Attorney's Office, District of Oregon, Criminal conspiracy could have cost investors more than $600 million, Former Aequitas Owner and Executive Vice President Pleads Guilty in Fraud and Money Laundering Conspiracy, Salem Man Pleads Guilty for Using Twitter to Threaten Violence Against Robinhood Employees, FBI and Partners Issue National Public Safety Alert on Financial Sextortion Schemes, Armed Robbery Crew Posing as DEA Agents Charged in Federal Court, Former Aequitas Owner and Executive Vice President Pleads Guilty In Fraud and Money Laundering Conspiracy. PDF United States of America Securities and Exchange Commission Investment Once a high-flying Lake Oswego . 2023 Advance Local Media LLC. Not guilty pleas and denial of forfeiture allegation entered. I have really enjoyed working with Seth, Brian and the Cathedral team. (Tape #FTR-9B) (gw) (Entered: 04/19/2019) He worked for Portland banks for much of his career before he was named regional president of Key Bank in 2006. The company opened slick new offices in New York City. But the defendants have already spent more than $10 million on legal costs, exhausting the first two policies. SEC charges advisor over Aequitas conflicts of interest. Main Office: Portland, Oregon 97204 In the shadow of a turbulent future, The Bloomberg New Economy Forum brought together world leaders for face-to-face discussions on the global threats we face. Please E-mail suggested additions, comments and/or corrections to Kent@MoreLaw.Com. Aequitas Capital No. 2 Brian Oliver pleads guilty to criminal charges Greenspan uncovered a remarkable email exchange between Aequitas co-founder Brian Oliver and Andrew MacRitchie, the firm's one-time chief compliance officer, which seems to indicate they were. Bob Jesenik, the co-founder and face of the defunct Lake Oswego investment firm Aequitas Management, was indicted Tuesday on charges he defrauded hundreds of its former clients. The recent filings indicate several additional Aequitas executives, like Rice and MacRitchie, are in harms way. Oliver was a partial owner and Executive Vice President of Aequitas Management, LLC ("Aequitas Management . Aequitas investors lost about $600 million after the collapse. A federal grand jury in the District of Oregon returned an indictment today charging four founders of Forsage, a purportedly decentralized finance (DeFi) cryptocurrency investment platform, for their roles in On February 6, 2023, a Russian cryptocurrency money launderer previously extradited from the Netherlands to face charges in the District of Oregon pleaded guilty in federal court. (1) A Salem, Oregon man pleaded guilty today for using Twitter to threaten violence against employees of Robinhood Markets, Inc., an online financial services company based in Menlo Park, California. 04/19/2019 13 Plea Agreement as to Brian A. Oliver (kms) (Entered: 04/19/2019) Subsequent reports detailed Aequitas default on its debt, the resulting panic among investors, the secret conflicts, and the firms strange cultural mashup -- part Wall Street investment bank, part frat party, part Bible class. Portland, Oregon 97204 Brian has been a Senior Advisor with Cathedral Consulting since 2017. They also have people who have helped raise money and sell businesses so they can help with that too. The firm was growing quickly, it did business with some of the best-known investment advisors in the country, it claimed to have more than $1 billion under management. PORTLAND, Ore.U.S. 2 executive Brian Oliver pleaded guilty to the same charges in April. Aequitas Capital Management Lawsuit - Law Meg An official website of the United States government. Aequitas collapsed in 2016 owing about $600 million to investors. Re: United States of America v. Brian A. Oliver - MoreLaw Aequitas was allegedly a fraud on top of another fraud Corinthian Colleges, the scandal ridden for-profit college that went bankrupt in 2015. This story was revised on Aug. 21, 2020 to correct some details about Brian Rices professional background. More Local News to Love Start today for 50% off Expires 3/6/23. Brian Oliver - Senior Advisor & President, Cathedral Finance District of Oregon | Former Aequitas Owner and Executive Vice President If you missed the last issue of InvestmentNews, you can access it here. But prosecutors allege the Aequitas executives lied about the firms financial performance. It is free to register and only takes a minute or two. By late 2015, Aequitas was suffering one of its periodic cash flow crises. Rice, former president of Key Bank of Oregon, acknowledged in recent court filings that he is a target in the case. Aequitas Management LLC and four affiliates allegedly defrauded more than 1,500 investors nationwide into believing they were making health care, education, and transportation-related investments when their money was really being used in a last-ditch effort to save the firm. (kms) (Entered: 04/19/2019), Home But much of that money has already been spent. B. As part of their plea agreements, they have both agreed to pay restitution in full to their victims as determined and ordered by the court. SEC v. Aequitas Management, LLC; Aequitas Holdings, LLC; Aequitas Commercial Finance, LLC; Aequitas Capital Management, Inc.; Aequitas Investment Management, LLC; Robert J. Jesenik; Brian A. Oliver; and N. Scott Gillis Case Number: 16-cv-00438 (United States District Court for the District of Oregon) Date Filed: March 10, 2016 In a separate proceeding, the SEC barred the three from the securities industry. By that time, it was clear to Aequitas executives the company was in deep financial trouble., Kayser added. PDF SEC Complaint: Aequitas Management, LLC; Aequitas Holdings, LLC Cookie Settings/Do Not Sell My Personal Information. It is being prosecuted by Scott E. Bradford and Ryan W. Bounds, Assistant U.S. With love for the 60/40 portfolio fading, 50/30/20 looks to be the cool new kid on the block. Nelson Scott Gillis, 69, of Lake Oswego, Oregon, pleaded guilty to one count of making a false statement to a bank. 2 executive, on Friday pleaded guilty to conspiracy to commit mail and wire fraud and conspiracy to commit money laundering. All three are permanently barred from the securities industry. Until now, Rice and MacRitchie have faced minimal legal expenses. All rights reserved (About Us). Recently, MacRitchie has incurred defense costs in connection with the DOJ investigation and expects to continue to incur Defense Costs in that matter, his lawyer said in a court filing. In a separate administrative proceeding, Jesenik, Oliver, and Gillis were barred from association with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical ratings organization, the SEC said. Scott Bradford is the lead prosecutor on the case. Brian Oliver - Senior Business Advising Specialist - Cathedral Consulting Our team of expertsis available to help your business build value in a variety of ways including: assessments, strategic planning, corporate financing, M&A support, market research, growth marketingandmuch more! Aequitas finances were already spiraling down, and the worse they got, the more student debt the firm bought from Corinthian. He was even on the board of the Arlington Club. Gillis was the second Aequitas chief financial officer. Seven years ago, it was easy to believe in Aequitas. Nevertheless, Papak ruled in favor of Jeseniks request for access to additional insurance funds to cover his defense. Have a question about Government Services? Neither were charged when the U.S. Securities and Exchange Commission shut Aequitas down and filed a civil lawsuit in March 2016. PORTLAND, Ore.A former senior executive and chief financial officer of Aequitas Management, LLC, and several other entities formerly owned by Aequitas, pleaded guilty today to submitting a false statement to an Aequitas creditor to obtain a $4.2 million loan for the now-defunct company. More Local News to Love Start today for 50% off Expires 3/6/23. District of Oregon | Former Aequitas Senior Executive and Chief There was the motorcycle leasing company. SEC bars Aequitas execs after $540m judgement against Oregon firm 04/19/2019 12 Minutes of Proceedings: Entry of Plea Hearing held before Judge Michael W. Mosman for Defendant Brian A. Oliver. It is being prosecuted by Ryan W. Bounds, Christopher Cardani and Siddharth Dadhich, Assistant U.S. | Sign In, Verdict Corrections MacRitchie, the former utility executive, was the picture of respectability. If you purchase a product or register for an account through one of the links on our site, we may receive compensation. Signed on 4/19/19 by Magistrate Judge Stacie F. Beckerman. Mike Esler, another attorney for Aequitas investors, credited federal prosecutors for sticking with an extremely complex case all the way to the indictment of Aequitas leader Jesenik. Rice included in his court filings a copy of an April 23 letter from the U.S. Attorneys office in Portland informing him that you are a subject of a federal criminal investigation concerning fraud that occurred at Aequitas.. 0. A locked padlock Oliver was the companys primary fundraiser and shared responsibility for the operation and management of Aequitas-affiliated companies and investment products as well as for the use of investor money. Gillis faces a maximum sentence of 30 years in prison, an $8.4 million fine, and five years supervised release. Gillis was the second Aequitas chief financial officer. Lock The Oregonian first reported the criminal charges and guilty plea. According to court documents, Jesenik, Gillis, MacRitchie, Rice, and others used the Lake Oswego company to solicit investments in a variety of notes and funds, many of which were purportedly backed by trade receivables in education, health care, transportation, and other consumer credit areas. PORTLAND, Ore.U.S. Aequitas also had tentacles spread throughout the RIA world. Six months later, on or about June 30, 2015, Gillis signed an amended loan agreement with Wells Fargo on Aequitass behalf. Another was a utility executive who helped change Portlands business landscape. Theyve recovered much of that money in a series of civil lawsuits against the professional firms that worked for Aequitas. In addition, it said Gillis agreed to be permanently suspended from appearing and practicing before the SEC as an accountant and cannot work as an auditor for pubic companies. | Editor Brian Rice and Scott Gillis, two of the company's six senior partners, resigned in recent weeks. Janke becomes second Aequitas executive to plead guilty; could get District of Oregon If you need help with finances, they've got that covered. Theyve got a team that really loves entrepreneurship and is equipped with different skill sets. Oliver is the first former Aequitas Capital executive to be criminally charged. As part of the final consent judgment, the defendants are prohibited from soliciting anyone to purchase or sell a security and prohibiting them from participating in the issuance, offer, or sale of any security of an entity they control, the SECs release stated. (Court Reporter Ryan White) (kms) (Entered: 04/19/2019) Then Corinthian went bankrupt. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, What Led to Europe's Deadliest Train Crash in a Decade, This Week in Crypto: Ukraine War, Marathon Digital, FTX, Exec VP & Pres:Financial Svcs, Aequitas Capital Mgmt Inc. It is believed that since he was ousted from Aequitas, Jesenik has been working for a company founded by his son: KCR Advisors LLC, based in Viero Beach, Fla. An earlier indictment against Gillis will be dismissed. Aequitas borrowed funds from other financial institutions, including Wells Fargo Bank, N.A., to purchase these trade receivables. (chso). Brian Mariash, James Lowther and their team will operate as Mariash Lowther Wealth Management in Sarasota, Florida. ORDER Defendant released on previous conditions. Marketing? They are Brian Rice, who formerly headed Key Banks operations in much of Oregon, Andrew MacRitchie, The Scotland native who came to Portland when when Scottish Power purchased PacifiCorp, and N. Scott Gillis, the former chief financial officer. 2023 RIA Intel, an Institutional Investor Publication. After graduating from Oregon State University in 1987 with a degree in Finance and minor in Economics, Brian spent the next 10 years in commercial banking with US Bank before embarking on 20 years in the Investment Banking and Alternative Asset Management industry. 2023 Advance Local Media LLC. The SEC alleges that CEO Robert J. Jesenik and executive vice president Brian A. Oliver were well aware of the firm's dire financial status but continued to solicit hundreds of millions of dollars in investments to stave off the firm's complete collapse. View limitations & usage restriction, Breaking news, analysis and cutting edge commentary from our award-winning team and leading industry voices, The latest news and other relevant content from selected Citywire partners. Aequitas investors filed a $350 million class-action lawsuit in April 2016, less than a month after the SEC charged Aequitas Management LLC and four affiliates, as well as three executivesCEO Robert Jesenik, executive vice president Brian Oliver, and CFO and chief operating officer N. Scott Gilliswith hiding the deteriorating financial This special highlights the best of the fifth annual event which was held in Singapore from November 14-17. Attorney Billy J. Williams announced today that Robert J. Jesenik, 61, a former chief executive officer of Aequitas Management, LLC and several other Aequitas-owned entities, has been indicted along with three other former company executives for their roles in a fraud and money laundering conspiracy. Oliver faces a maximum sentence of 30 years in prison, a $250,000 fine or twice the gross monetary gains or losses resulting from his crimes, and three years supervised release. Brian provides Cathedral particular expertise in leading Merger & Acquisition transactions and arranging Corporate Finance solutions for its clients, after having been involved in extensive transactions of all sizes throughout his career. Main Office: Please sign in or register to comment. He pled guilty but has not yet been sentenced. Former Aequitas CEO and Senior Executives Indicted in Fraud and Money Bob Jesenik has not been criminally charged. Claim Data and Trends - EPIC Insurance Brokers & Consultants Thom Maher is launching a firm, Maher Wealth Management, in Phoenix. A .gov website belongs to an official government organization in the United States. Between 2011 and 2014, Aequitas purchased more than $561 million in student loan debt, almost all of which was with Corinthian. Use of editorial content without permission is strictly prohibited|All rights reserved, Securities and Exchange Commission complaint filed in 2016, Aequitas meltdown underscores the importance of due diligence, caution, Fintech Bytes: RBC selects Vestwell, Riskalyze partners with Opto, Morgan Stanley ESG ETFs get the cold shoulder, HSA participants fail to take full advantage of tax trifecta, Investors keep dumping Blackstone REIT shares, Striving to win at compassion? SEC Posts Notice of Covered Action Regarding Case Against Aequitas The Lake Oswego, Ore.-based investment management firm was the subject of a Securities and Exchange Commission complaint filed in 2016 alleging that Aequitas defrauded more than 1,500 investors into believing they were putting their money into health care, education and transportation investments when their money was being used primarily in a Ponzi-like fashion. Brian Oliver and Olaf Janke, Aequitas chief financial officer before Gillis, pleaded guilty to similar charges. All material subject to strictly enforced copyright laws. Brian A Oliver, Aequitas Capital Mgmt Inc: Profile and Biography He established and maintained the companys accounting principles, practices, procedures and initiatives, prepared financial reports and presented findings and recommendations to the executive teams, and oversaw all financial functions. The Oregon firm thought it had hit the motherlode when it got into the college debt business. Add Andrew MacRitchie and Brian Rice, second and third from right, to the list of former Aequitas executives now facing substantial legal defense costs. Brian Oliver President, Cathedral Finance | Senior Advisor Brian has over 30 years experience in providing corporate finance and consulting solutions to small and medium sized businesses. But this one was worse. A lock ( Probation. Sam Kauffman is MacRitchies attorney. Cookie Settings/Do Not Sell My Personal Information. Brian Oliver, Aequitas Capital's longtime No. Timothy Laniers firm in Neptune Beach, Florida, focuses on serving doctors and health care executives. An official website of the United States government. He is scheduled to be sentenced on Aug. 5. The SECs complaint, filed on March 10, 2016, alleged that Aequitas Management and four affiliates defrauded more than 1,500 investors nationwide when that money was being used primarily to cover operating losses and to pay earlier investors in a Ponzi-like fashion, according to an April 24 SEC press release on the final judgment. The final judgments prohibit Jesenik, Oliver, and Gillis from serving as officers or directors of any public company. PORTLAND, Ore.U.S. (See separate order.) All rights reserved (About Us). Brian Oliver and Olaf Janke, former senior Aequitas executives, have in recent months cut plea deals with federal prosecutors. Three other former Aequitas executives, including a former Portland bank president and a senior utility executive, were also charged. They hurt a whole lot of people.. Sentencing materials are due no later than 7/31/2019. Official websites use .gov On January 26, 2023, a California man who evaded federal authorities for more than two decades after being convicted at trial and who was wanted in District of Oregon for District of Oregon All Rights Reserved. They've got that too. There are also questions about whether Jesenik and other defendants spent the money appropriately. On March 16, 2016, pursuant to the Stipulated Interim Order Appointing Receiver, the Receiver was appointed as receiver . In April, Brian Oliver, Aequitas. A lock ( RIA Intel is part of Delinian. brian oliver, aequitas II. Defendant advised of rights. As such, he was responsible for the development and implementation of risk management and compliance processes and procedures. This case is being investigated by the FBI, IRS Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration. Portland, Oregon 97204 Sentencing is set for 8/5/2019 at 9:00AM in Portland before Judge Michael W. Mosman. The company's general counsel just quit. Advisors providing advice on cryptocurrency-related assets should do so with caution, according to a new report by the CFP Board. The firm sold more than $300 million worth of private investment notes, mostly through financial advisers. The SECs complaint alleged that Jesenik and Oliver were aware of Aequitass calamitous financial condition yet continued to solicit millions of dollars from investors to pay the firms ever-increasing expenses and attempt to stave off the impending collapse of the business. It added that Gillis allegedly concealed the firms insolvency from investors and was aware that Jesenik and Oliver continued soliciting investors so that Aequitas could pay operating expenses and repay earlier investors with money from new investors.. 04/19/2019 10 Minutes of Proceedings: First Appearance on Information and Arraignment held before Magistrate Judge Stacie F. Beckerman as to Defendant Brian A. Oliver on 4/19/2019. They agreed to plead guilty and cooperate with the government. Oliver, former second-in-command at Aequitas, pleads guilty to fraud Brian A. Oliver, a former owner and executive vice president of Aequitas Management, LLC and several other Aequitas-related companies pleaded guilty to conspiring to commit mail and wire fraud and money laundering. They've got that too. One of Aequitas biggest moneymakers disappeared almost overnight. The company's general counsel just quit. In a divorce settlement filed with the court, it's. The default came to attention of the U.S. Securities and Exchange Commission, which sued Aequitas in March 2016 and got the company shut down. A former senior executive and chief financial officer of Aequitas Management, LLC, and several other entities formerly owned by Aequitas, pleaded guilty today to submitting a false statement to an Aequitas creditor to obtain a $4.2 million loan for the now-defunct company.
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