He worked for Portland banks for much of his career before he was named regional president of Key Bank in 2006. If the sentencing materials are not received on time or the Court is not advised that none will be filed, the sentencing may be rescheduled. The new indictments bring to six the number of former Aequitas executives charged with defrauding investors.
By late 2015, Aequitas was suffering one of its periodic cash flow crises. Accounting giant Deloitte, stock trader T.D. 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. Use of and/or registration on any portion of this site constitutes acceptance of our User Agreement, Privacy Policy and Cookie Statement, and Your Privacy Choices and Rights (each updated 1/26/2023). 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. Brian Oliver - Senior Business Advising Specialist - Cathedral Consulting 3 Executives of Aequitas Management LLC Charged for Fraud | Link Errors If you missed the last issue of InvestmentNews, you can access it here. 04/19/2019 11 Waiver of Indictment by Brian A. Oliver (schm) (Entered: 04/19/2019) Six months later, on or about June 30, 2015, Gillis signed an amended loan agreement with Wells Fargo on Aequitass behalf. Rice, a longtime Portland banker who eventually became regional president for Key Bank, gave up the big downtown office to join Aequitas in 2014. brian oliver, aequitas brian oliver, aequitas Home Realizacje i porady Bez kategorii brian oliver, aequitas Please E-mail suggested additions, comments and/or corrections to Kent@MoreLaw.Com. Probation. But this one was worse. An official website of the United States government. Aequitas finances were already spiraling down, and the worse they got, the more student debt the firm bought from Corinthian. But I think my clients will be thrilled. Wealth Management as an industry doesnt understand direct real estate and real estate certainly doesnt understand wealth management, says Realized founder David Wieland. (Court Reporter Ryan White) (kms) (Entered: 04/19/2019) 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. Secure .gov websites use HTTPS The third policy is now being consumed even though the criminal case is just getting underway and the pool of potential defendants is expanding. 1000 SW Third Ave Suite 600
They are also prohibited from violating the SECs antifraud provisions. Defendant advised of rights. 2020 update: Aequitas investors recoup some money. 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. In January 2014, shortly before joining Aequitas, he was named to the Portland board of directors of the Federal Reserve Bank of San Francisco. Guilty pleas entered as to Counts 1 and 2 of the Information. Former Aequitas Owner and Executive Vice President . Oliver is the 25% owner of Aequitas Management and an Executive Vice President of the Entity Defendants. Email USAO-OR. On or about January 12, 2015, Aequitas entered into a loan agreement with Wells Fargo to establish a $100 million line of credit. ORDER Presentence Report to be prepared by U.S. He was even on the board of the Arlington Club. 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. 1000 SW Third Ave Suite 600
Investors had been bilked out of hundreds of millions of dollars, the SEC said. Theyve recovered much of that money in a series of civil lawsuits against the professional firms that worked for Aequitas. He also established Aequitass New York Office and directed Aequitass Lux Fund, a Luxembourg-based fund used to solicit international investors. 0. There are also questions about whether Jesenik and other defendants spent the money appropriately. This story was revised on Aug. 21, 2020 to correct some details about Brian Rices professional background. (See separate order.) Aequitas borrowed funds from other financial institutions, including Wells Fargo Bank, N.A., to purchase these trade receivables. But the defendants have already spent more than $10 million on legal costs, exhausting the first two policies. 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. Please sign in or register to comment. The company's general counsel just quit. RIA Intel is part of Delinian. PORTLAND, Ore.U.S. Owler Reports - KCC: Aequitas Capital No. 2 Brian Oliver pleads guilty Co-founders Bob Jesenik and Brian Oliver had participated in too many sketchy deals for sophisticated Oregon investors to feel comfortable with them. Brian A. Oliver, age 51, resides in Aurora, Oregon. MacRitchie was the companys executive vice president and chief compliance officer. Aequitas Settles With SEC for $540 Million as Three Top - RIAIntel Aequitas specialized in debt. On August 11, 2020, the U.S. Attorneys Officeannounced that Gillis had been charged in a 34-count indictment with conspiracy to commit mail and wire fraud, wire fraud, bank fraud, and money laundering. Another was a utility executive who helped change Portlands business landscape. Brian Rice and Scott Gillis, two of the company's six senior partners, resigned in recent weeks. It is being prosecuted by Scott E. Bradford and Ryan W. Bounds, Assistant U.S. Jesenik also must pay a civil penalty of $625,000. Longtime Aequitas No. Gillis faces a maximum sentence of 30 years in prison, an $8.4 million fine, and five years supervised release. (2), Outcome: 04/19/2019 9 Order Setting Conditions of Release as to Defendant Brian A. Oliver. 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? In what could be the largest settlement of a securities lawsuit in Oregon history, settlements of at least $234.6 million have been secured for some 1,600 investors in a class action against third. 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. 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. 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. Scott Bradford is the lead prosecutor on the case. 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. 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. Brian Oliver - Senior Advisor & President, Cathedral Finance - Cathedral Consulting | LinkedIn Brian Oliver At Cathedral we help entrepreneurs with momentum build value in their business. Irvine, California-based Eric Gallinger is affiliating with LPL through Stratos Wealth Partners. It began to default on the interest payments owed its legion of mom and pop investors. An indictment is only an accusation of a crime, and defendants are presumed innocent unless and until proven guilty. 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. PDF Former Aequitas Owner and Executive Vice President Pleads Guilty - DOL One of Aequitas biggest moneymakers disappeared almost overnight. 2023 Advance Local Media LLC. Arraignment held for Defendant Brian A. Oliver on Counts 1 and 2 of the Information. The firm sold more than $300 million worth of private investment notes, mostly through financial advisers. He will be sentenced on June 27, 2023 by U.S. District Court Judge Michael H. Simon. 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. 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. This special highlights the best of the fifth annual event which was held in Singapore from November 14-17. In a divorce settlement filed with the court, it's. 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. Not guilty pleas and denial of forfeiture allegation entered. 1000 SW Third Ave Suite 600
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. Cookie Settings/Do Not Sell My Personal Information. Community Rules apply to all content you upload or otherwise submit to this site. 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. Once a high-flying Lake Oswego . But now it has a bigger problem: farmers are revolting against restrictions on how they repair complex equipment. Brian received a Bachelor of Science degree from Oregon State University. | Articles Five of the six senior Aequitas executives have been charged with federal crimes or have pleaded guility. 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 SEC files Complaint against Aequitas Management - Fishman Haygood If you purchase a product or register for an account through one of the links on our site, we may receive compensation. A lock ( Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". Sentencing materials are due no later than 7/31/2019. Oliver, former second-in-command at Aequitas, pleads guilty to fraud The Oregonian/OregonLive began investigating Aequitas in 2014, when it linked the firm to accusations of predatory student loans at Corinthian. A federal court in Oregon entered final judgments against Aequitas Management requiring the firms receiver to pay $453 million in disgorgement. | Store Sam Kauffman is MacRitchies attorney. | Advertising By the time he left, he was also in charge of Key Banks operations in Washington and Alaska. Counsel Present for the Government: Scott E. Bradford and Ryan W. Bounds. A locked padlock Aequitas Management, LLC, et al. (Release No. LR-23485; March 11, 2016) 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
Portland, Oregon 97204
Secure .gov websites use HTTPS Oliver was originally scheduled to be sentenced on Aug. 5, but the sentencing date was moved to Nov.. Over the last few years Cathedral has really provided sage advice as weve been growing our green building companies. 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. Redmond adviser caught in Oregon firm's $600M financial collapse Oliver was also charged criminally for his conduct. A native of the United Kingdom, he served as the British honorary consul in Portland for several years. 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. [More: Aequitas meltdown underscores the importance of due diligence, caution]. According to court documents, Oliver, 54, of Aurora, Oregon, and unnamed co-conspirators used the Lake Oswego, Oregon, based 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. All Rights Reserved. The sentencing for former Aequitas Capital executive Brian Oliver has been moved again. Court finds guilty pleas to be knowing and voluntary. Other funds went to pay their salaries. It is being prosecuted by Ryan W. Bounds, Christopher Cardani and Siddharth Dadhich, Assistant U.S. There was the commercial lender. It is being prosecuted by Scott E. Bradford and Ryan W. Bounds, Assistant U.S. If you need help with finances, they've got that covered. Realized Launches Game Changing Platform for Direct Real Estate Investment, The CFP Board Calls Out Crypto in Code of Ethics and Standards, Modern Slavery Act Transparency Statement. Brian has been a Senior Advisor with Cathedral Consulting since 2017. brian oliver, aequitas The Oregon firm thought it had hit the motherlode when it got into the college debt business. Sentencing for No. 2 Aequitas executive Brian Oliver moved to February Theyve got a team that really loves entrepreneurship and is equipped with different skill sets. The company's general counsel just quit. ) or https:// means youve safely connected to the .gov website. Aequitas collapsed in 2016 owing about $600 million to investors. PORTLAND, Ore.U.S. A .gov website belongs to an official government organization in the United States. II. 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. Brian has over 30 years experience in providing corporate finance and consulting solutions to small and medium sized businesses. Rice, former president of Key Bank of Oregon, acknowledged in recent court filings that he is a target in the case. They both opted not to talk. 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. A .gov website belongs to an official government organization in the United States. It is believed that since he was ousted from Aequitas, Jesenik has been. Worse, regulators from the U.S. Consumer Financial Protection Bureau and the state Department of Justice began taking a hard look at the colleges agreement with Aequitas. Official websites use .gov 04/19/2019 12 Minutes of Proceedings: Entry of Plea Hearing held before Judge Michael W. Mosman for Defendant Brian A. Oliver. Lock Neither were charged when the U.S. Securities and Exchange Commission shut Aequitas down and filed a civil lawsuit in March 2016. Share sensitive information only on official, secure websites. 13. Prosecutors' wide net: Prominent Portland executives sucked into 2023 InvestmentNews LLC. He will be sentenced on August 5, 2019before U.S. District Court Judge Michael W. Mosman. ORDER Defendant released on previous conditions. (Tape #FTR-9B) (gw) (Entered: 04/19/2019) Brian Oliver and Olaf Janke, Aequitas chief financial officer before Gillis, pleaded guilty to similar charges. Brian Oliver is an Executive Vice President & President, Aequitas Financial Services Network at Aequitas Capital Management based in Lake Oswego, O regon. 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. 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. All three are permanently barred from the securities industry. Ledger was the co-founder of Aequitas, which was then a small New York based company that dealt primarily in commercial paper. MacRitchie, the former utility executive, was the picture of respectability. Brian A Oliver is Exec VP & Pres:Financial Svcs at Aequitas Capital Mgmt Inc. See Brian A Oliver's compensation, career history, education, & memberships. 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. No criminal charges have been filed against Bob Jesenik, Aequitas co-founder and CEO. I have really enjoyed working with Seth, Brian and the Cathedral team. Court orders Aequitas to disgorge $453 million in fraud case They also have people who have helped raise money and sell businesses so they can help with that too. Attorney Billy J. Williams announced today that Brian A. Oliver, a former owner and executive vice president of Aequitas Management, LLC and several other Aequitas-related companies has pleaded guilty to conspiring to commit mail and wire fraud and money laundering. Gillis was the second Aequitas chief financial officer. 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
Have a question about Government Services? Reset here, 1999 - 2023 citywire.com. 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. This case is being investigated by the FBI, IRS-Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration. 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. It entered into a deal to buy student loans from Corinthian, the notorious for-profit college. Attorney Billy J. Williams announced today that Brian A. Oliver,a former owner and executive vicepresident of Aequitas Management, LLC and several other Aequitas . Much of the cash went to make the payments owed to other investors. This case is being investigated by the FBI, IRS Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration. Brian's experience encompasses a variety of positions across commercial banking, investment banking, alternative asset management, and business advisory services. Aequitas Capital Management Lawsuit - Law Meg 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. Prosecutors claim the Aequitas executives misled company investors about how their money was being used. But prosecutors allege the Aequitas executives lied about the firms financial performance. 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. As such, he was responsible for the development and implementation of risk management and compliance processes and procedures. 04/19/2019 14 Plea Petition and Order Entering Plea as to Defendant Brian A. Oliver. The company opened slick new offices in New York City. All rights reserved (About Us). Section 203(f) of the Investment Advisers Act of 1940 ("Advisers Act") against Brian A. Oliver ("Oliver" or "Respondent"). Until now, Rice and MacRitchie have faced minimal legal expenses. If you purchase a product or register for an account through one of the links on our site, we may receive compensation. The Government does not seek detention and Defendant is released on conditions. Community Rules apply to all content you upload or otherwise submit to this site. A locked padlock John Deere boasted record profits in 2021 and finally struck a deal with striking union workers. 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. Defendant waived reading of the Information. Oliver faces a maximum sentence of 30 years in prison, a $250,000 fine or twice the gross . (Entered: 04/19/2019) He declined to comment. (chso). Counsel Present for Defendant: Whitney Patrick Boise and Kendra M. Matthews. Thom Maher is launching a firm, Maher Wealth Management, in Phoenix. Advisors providing advice on cryptocurrency-related assets should do so with caution, according to a new report by the CFP Board. More Local News to Love Start today for 50% off Expires 3/6/23. By that time, it was clear to Aequitas executives the company was in deep financial trouble., Kayser added. Deloitte Is Finally Finished with That Whole Aequitas Investors Lawsuit 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. There was the motorcycle leasing company. YouTubes privacy policy is available here and YouTubes terms of service is available here. PORTLAND, Ore.U.S. Brian Rice and Scott Gillis, two of the company's six senior partners, resigned in recent weeks. 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. He is scheduled to be. Oliver is the first former Aequitas Capital executive to be criminally charged. The Oregonian first reported the criminal charges and guilty plea. But it appears they are far from done. This case is being investigated by the FBI, IRS Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration. MacRitchie was ScottishPowers point man in its efforts to buy Pacificorp and served as an executive vice president there. Left to right they are Bob Jesenik, Scott Gillis, Craig Froude (not charged with any crime,) Brian Rice, Andrew MacRitchie and Brian Oliver. SEC v. Aequitas Management, LLC; Aequitas Holdings, LLC; Aequitas Defendant advised of rights. With love for the 60/40 portfolio fading, 50/30/20 looks to be the cool new kid on the block. Brian Oliver, Aequitas Capital's longtime No. As previously reported by RIA Intel, Aequitas claimed to manage $1.67 billion before it collapsed, which would likely make its downfall Oregons biggest-ever investment scandal. SEC charges advisor over Aequitas conflicts of interest. 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. The current Aequitas Capital Management lawsuit was brought on by the heirs of Matthew Ledger.
Heather Duggan Michael Murphy,
The New Order: Last Days Of Europe Cheats,
Instant Vortex Air Fryer Recipes App,
Articles B