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. By the time he left, he was also in charge of Key Banks operations in Washington and Alaska. Aequitas Capital No. 2 Brian Oliver pleads guilty to criminal charges Defendant waived reading of the Information. A .gov website belongs to an official government organization in the United States. PORTLAND, Ore.U.S. Email USAO-OR. From June 2014 through February 2016, the former executives solicited investors by misrepresenting the companys use of investor money, the financial health and strength of Aequitas and its related companies, and the risks associated with its investments and investment strategies. Gillis was the second Aequitas chief financial officer. 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 Reset here, 1999 - 2023 citywire.com. Main Office: Federal prosecutors have already cut guilty plea deals with two former Aequitas executives. Oliver, former second-in-command at Aequitas, pleads guilty to fraud 04/19/2019 13 Plea Agreement as to Brian A. Oliver (kms) (Entered: 04/19/2019) Please read our Terms and Conditions, Modern Slavery Act Transparency Statement, and Privacy Policy before using the site. 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.. They also have people who have helped raise money and sell businesses so they can help with that too. On March 16, 2016, pursuant to the Stipulated Interim Order Appointing Receiver, the Receiver was appointed as receiver . The court also required Robert J. Jesenik, the firm's former CEO, and Brian A. Oliver,. Investors agree to $234.6M in settlements in Aequitas was - Portland Community Rules apply to all content you upload or otherwise submit to this site. Aequitas specialized in debt. Aequitas Management, LLC, et al. (Release No. LR-23485; March 11, 2016) Sentencing is set for 8/5/2019 at 9:00AM in Portland before Judge Michael W. Mosman. There are also questions about whether Jesenik and other defendants spent the money appropriately. Oliver faces a maximum sentence of 30 years in prison, a $250,000 fine or twice the gross . MacRitchie, a former ScottishPower and PacifiCorp executive, said in court filings that he too has incurred defense costs in connection with the DOJ investigation. Whether prosecutors consider MacRitchie a target or witness or some other category is unclear. 04/19/2019 12 Minutes of Proceedings: Entry of Plea Hearing held before Judge Michael W. Mosman for Defendant Brian A. Oliver. If you missed the last issue of InvestmentNews, you can access it here. Aequitas also had tentacles spread throughout the RIA world. Investment adviser: Aequitas lied to investors, hid - oregonlive Bob Jesenik and Brian Oliver, the long-time chief executive and second-in-command at the Lake Oswego financial firm, said any misstatements they may have made to investors were simply. Email USAO-OR. 1000 SW Third Ave Suite 600 There was the commercial lender. Timothy Laniers firm in Neptune Beach, Florida, focuses on serving doctors and health care executives. Three other former Aequitas executives, including a former Portland bank president and a senior utility executive, were also charged. He committed suicide in an attempt to hide . MacRitchie was the companys executive vice president and chief compliance officer. Seven years ago, it was easy to believe in Aequitas. (1) 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. Please E-mail suggested additions, comments and/or corrections to Kent@MoreLaw.Com. It is being prosecuted by Ryan W. Bounds, Christopher Cardani and Siddharth Dadhich, Assistant U.S. The high-interest loans were terrible for students. A native of the United Kingdom, he served as the British honorary consul in Portland for several years. Brian Rice and Scott Gillis, two of the company's six senior partners, resigned in recent weeks. 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. Lock brian oliver, aequitas brian oliver, aequitas Home Realizacje i porady Bez kategorii brian oliver, aequitas This case is being investigated by the FBI, IRS Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration. Bob Jesenik has not been criminally charged. District of Oregon | Former Aequitas Owner and Executive Vice President By late 2015, Aequitas was suffering one of its periodic cash flow crises. He is scheduled to be sentenced on Aug. 5. Brian Rice and Andrew MacRitchie left their corporate posts for jobs at Aequitas Capital. Once a high-flying Lake Oswego . In a separate proceeding, the SEC barred the three from the securities industry. It is being prosecuted by Scott E. Bradford and Ryan W. Bounds, Assistant U.S. John Deere boasted record profits in 2021 and finally struck a deal with striking union workers. Scott Bradford is the lead prosecutor on the case. Brian Oliver and Olaf Janke, former senior Aequitas executives, have in recent months cut plea deals with federal prosecutors. Defendant proceeds as named. 2023 InvestmentNews LLC. Brian A Oliver is Exec VP & Pres:Financial Svcs at Aequitas Capital Mgmt Inc. See Brian A Oliver's compensation, career history, education, & memberships. Aequitas Capital Management Lawsuit - Law Meg The new indictments bring to six the number of former Aequitas executives charged with defrauding investors. According to court documents, Aequitas created and operated investment funds that purchased trade receivables in education, health care, transportation, and other consumer credit areas. An official website of the United States government. Attorneys for the District of Oregon. Gillis was the second Aequitas chief financial officer. Oliver also was charged criminally for his conduct and has pled guilty, but has not yet been sentenced. Six months later, on or about June 30, 2015, Gillis signed an amended loan agreement with Wells Fargo on Aequitass behalf. MacRitchie oversaw all Aequitas accounting, legal, and audit functions, and participated in fundraising. Between 2011 and 2014, Aequitas purchased more than $561 million in student loan debt, almost all of which was with Corinthian. Aequitas Management, the Oregon-based RIA accused in 2016 of running a massive Ponzi-like scheme, and its top executives have finally settled with the Securities and Exchange Commission. 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. 13. Aequitas was allegedly a fraud on top of another fraud Corinthian Colleges, the scandal ridden for-profit college that went bankrupt in 2015. Aequitas did make legitimate investments. Rice, former president of Key Bank of Oregon, acknowledged in recent court filings that he is a target in the case. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. 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. 0. By early January 2016, Aequitass general counsel advised Gillis and other executives that the company would soon default on payments due to Private Note investors, causing an event of default on Aequitass loan agreement with Wells Fargo. Advisors providing advice on cryptocurrency-related assets should do so with caution, according to a new report by the CFP Board. For 23 years, Brian Oliver was the classic second-in-command at Aequitas Management LLC, the earnest, low-key straight arrow to the company's colorful alpha-dog CEO Bob Jesenik. Oliver is the first former Aequitas Capital executive to be criminally charged. 2023 RIA Intel, an Institutional Investor Publication. Email USAO-OR. Rice headed Key Bank in Oregon for 12 years. They've got that too. Brian Oliver - Senior Advisor & President, Cathedral Finance - Cathedral Consulting | LinkedIn Brian Oliver At Cathedral we help entrepreneurs with momentum build value in their business. Former Aequitas CEO and Senior Executives Indicted in Fraud and Money Defendant advised of rights. He worked for Portland banks for much of his career before he was named regional president of Key Bank in 2006. Jesenik also must pay a civil penalty of $625,000. There was the motorcycle leasing company. (chso). Share sensitive information only on official, secure websites. They both opted not to talk. 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. Over the last few years Cathedral has really provided sage advice as weve been growing our green building companies. Official websites use .gov As part of the plea agreement, Oliver has agreed to pay restitution in full to each of victims as determined and ordered by the court. They remain active in their local church as well as volunteer with several other local non-profits, and in their leisure time enjoy hiking and camping in their travel trailer when not otherwise spending time with their two adult children. Add Andrew MacRitchie and Brian Rice, second and third from right, to the list of former Aequitas executives now facing substantial legal defense costs. But they made good money for Aequitas and its investors. District of Oregon Brian Oliver, Aequitas Capital's longtime No. Have a question about Government Services? Jesenik, a former resident of West Linn, Oregon, is charged in a 32-count indictment with conspiracy to commit mail and wire fraud, wire fraud, bank fraud, and money laundering. 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. On March 10, 2016, the Securities and Exchange Commission (" SEC ") filed a complaint in this Court against the Entity Defendants 1 and three individual defendants, Robert J. Jesenik, Brian A. Oliver, and N. Scott Gillis. Not guilty pleas and denial of forfeiture allegation entered. As Aequitas grew, its profile in the community also increased. A locked padlock (kms) (Entered: 04/19/2019), Home Brian Oliver is an Executive Vice President & President, Aequitas Financial Services Network at Aequitas Capital Management based in Lake Oswego, O regon. Plus, Jeseniks monthly legal fees approximately quadrupled after he hired new counsel in approximately March 2017. Brians experience encompasses a variety of positions across commercial banking, investment banking, alternative asset management, and business advisory services. An official website of the United States government. 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. [More: Aequitas meltdown underscores the importance of due diligence, caution]. Investors had been bilked out of hundreds of millions of dollars, the SEC said. Brian A. Oliver, age 51, resides in Aurora, Oregon. A .gov website belongs to an official government organization in the United States. Defunct Aequitas misled investors, cooked books, ran Ponzi - oregonlive It is believed that since he was ousted from Aequitas, Jesenik has been. Aequitas collapsed in 2016 owing about $600 million to investors. Brian's experience encompasses a variety of positions across commercial banking, investment banking, alternative asset management, and business advisory services. Court: United States District Court for the District of Oregon (Multnomah County), Plaintiff's Attorney: Scott E. Bradford and Ryan W. Bounds, Defendant's Attorney: Kendra M. Matthews and Whitney Patrick Boise, 18:1341 and 18:1343 CONSPIRACY TO COMMIT MAIL AND WIRE FRAUD 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. It is being prosecuted by Scott E. Bradford and Ryan W. Bounds, Assistant U.S. Portland, Oregon 97204 SEC bars Aequitas execs after $540m judgement against Oregon firm The Oregon firm thought it had hit the motherlode when it got into the college debt business. Attorney Billy J. Williams announced today that Olaf Janke, a former owner and chief financial officer of Aequitas Management, LLC and several other Aequitas-owned entities, has pleaded guilty to conspiring to commit mail and wire fraud and money laundering. SEC v. Aequitas Management, LLC; Aequitas Holdings, LLC; Aequitas Claim Data and Trends - EPIC Insurance Brokers & Consultants In anticipation of the institution of these proceedings, Respondent has submitted an Offer . Bob Jesenik, three other former Aequitas executives - Oregonlive All three are permanently barred from the securities industry. Brian Oliver, Aequitas Capital's longtime No. 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. Jesenik will have to pay $1.57 million in disgorgement, interest and penalties, while Oliver will pay $235,928 in disgorgement and interest, and Gillis will pay a $300,000 civil penalty. Youve missed the point, Anxiety over tax refunds on the rise, Bankrate.com study shows, Gensler steps up warnings to money managers. Nelson Scott Gillis, 69, of Lake Oswego, Oregon, pleaded guilty to one count of making a false statement to a bank. There was no more hiding the fact that Aequitas was broke. Secure .gov websites use HTTPS II. (See separate order.) There was the company that bought bad debt from hospitals for pennies on the dollar and then tried to collect on the debt. Previously, Brian was an Executive VP, Business Development at Alternative Asset Management. As such, he was responsible for the development and implementation of risk management and compliance processes and procedures. Oliver and his co-conspirators also failed to disclose other critical facts about the company, including its near-constant liquidity and cash-flow crises, the use investor money to repay other investors and to defray operating expenses, and the lack of collateral to secure funds. They agreed to plead guilty and cooperate with the government.. Community Rules apply to all content you upload or otherwise submit to this site. Brian Rice and Scott Gillis, two of the company's six senior partners, resigned in recent weeks. Attorneys for the District of Oregon. Owler Reports - KCC: Aequitas Capital No. 2 Brian Oliver pleads guilty Waiver of indictment signed and accepted by the Court. RIA Intel is part of Delinian. Also charged are Nelson Scott Gillis, 67, of Lake Oswego, Oregon; Brian K. Rice, 54, of Portland; and Andrew N. MacRitchie, 56, formerly of Palm Harbor, Florida. Former Aequitas Owner and Executive Vice President . Aequitas finances were already spiraling down, and the worse they got, the more student debt the firm bought from Corinthian. Accounting giant Deloitte, stock trader T.D. But I think my clients will be thrilled. Gillis, who was previously indicted for conspiring to submit false statements to a federally insured creditor, was the companys chief operating officer and chief financial officer. He was the British honorary consul to Portland. 04/19/2019 11 Waiver of Indictment by Brian A. Oliver (schm) (Entered: 04/19/2019) 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. Former Aequitas executives and co-conspirators Brian A. Oliver and Olaf Janke previously pleaded guilty to conspiring to commit mail and wire fraud and money laundering on April 19, 2019, and June 10, 2019, respectively. | Recent Lawyer Listings Signed on 4/19/2019 by Judge Michael W. Mosman. Despite that advice, on or about January 15, 2016, Gillis signed and, with others, submitted to Wells Fargo an advance notice, requesting that Wells Fargo advance $4.2 million to Aequitas with a false certification that Aequitas was not confronting a potential event of default. They are also prohibited from violating the SECs antifraud provisions. President, Cathedral Finance|Senior Advisor. Secure .gov websites use HTTPS The firm sold more than $300 million worth of private investment notes, mostly through financial advisers. Its been a long time coming, Kayser said. A federal court in Oregon entered final judgments against Aequitas Management requiring the firms receiver to pay $453 million in disgorgement. 04/19/2019 14 Plea Petition and Order Entering Plea as to Defendant Brian A. Oliver. Neither were charged when the U.S. Securities and Exchange Commission shut Aequitas down and filed a civil lawsuit in March 2016. Portland, Oregon 97204 This case is being investigated by the FBI, IRS Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration. 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. 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. A lock ( Brian Oliver and Olaf Janke, Aequitas chief financial officer before Gillis, pleaded guilty to similar charges. PDF SEC Complaint: Aequitas Management, LLC; Aequitas Holdings, LLC Lock By that time, it was clear to Aequitas executives the company was in deep financial trouble., Kayser added. A lock ( His attorneys have submitted bills for at least 2.7 million, far more than any other defendant. An official website of the United States government. Brian A Oliver, Aequitas Capital Mgmt Inc: Profile and Biography Oliver was a partial owner and Executive Vice President of Aequitas Management, LLC ("Aequitas Management . 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.
Lynette Williams Missouri,
Malibu Jacks Ashland Ky Menu,
Cherry Hills Country Club Board Of Directors,
Robert Wisdom Walks With A Limp,
Articles B