A locked padlock Ledger left the company in 2005 in a highly controversial and public way. In a separate proceeding, the SEC barred the three from the securities industry. Secure .gov websites use HTTPS 2 executive, on Friday pleaded guilty to conspiracy to commit mail and wire fraud and conspiracy to commit money laundering. Attorneys for the District of Oregon. I have really enjoyed working with Seth, Brian and the Cathedral team.. 2023 RIA Intel, an Institutional Investor Publication. Rice, former president of Key Bank of Oregon, acknowledged in recent court filings that he is a target in the case. The court appointed receiver now in charge of whats left of Aequitas opposes Rices and MacRitchies request for access to the insurance money. A .gov website belongs to an official government organization in the United States. This story was revised on Aug. 21, 2020 to correct some details about Brian Rices professional background. | Link Errors 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. 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..
Aequitas Management, LLC, et al. (Release No. LR-23485; March 11, 2016) Oliver is the first former Aequitas Capital executive to be criminally charged. Not guilty pleas and denial of forfeiture allegation entered. There was no more hiding the fact that Aequitas was broke. Investors had been bilked out of hundreds of millions of dollars, the SEC said. Jesenik founded the Aequitas group of companies, and, as chief executive officer, controlled the organizations structure and had ultimate decision-making authority over company activities. 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).
Owler Reports - KCC: Aequitas Capital No. 2 Brian Oliver pleads guilty Oliver, former second-in-command at Aequitas, pleads guilty to fraud District of Oregon | Former Aequitas Owner and Executive Vice President Sam Kauffman is MacRitchies attorney. Guilty pleas entered as to Counts 1 and 2 of the Information. Attorney Billy J. Williams announced today that Brian A. Oliver,a former owner and executive vicepresident of Aequitas Management, LLC and several other Aequitas .
Arraignment held for Defendant Brian A. Oliver on Counts 1 and 2 of the Information. Prosecutors claim the Aequitas executives misled company investors about how their money was being used. Waiver of indictment signed and accepted by the Court. Share sensitive information only on official, secure websites. At a hearing in U.S. District Court on Monday, Janke confirmed that as part of his plea agreement, he would oppose any sentence of less than three years. The current Aequitas Capital Management lawsuit was brought on by the heirs of Matthew Ledger. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. Scott Bradford is the lead prosecutor on the case. Ameritrade and big law firms like Sidley Austin gave the local operation a sheen of legitimacy. Thom Maher is launching a firm, Maher Wealth Management, in Phoenix. More Local News to Love Start today for 50% off Expires 3/6/23. All material subject to strictly enforced copyright laws. Brian and his wife of 30 years live in Aurora, Oregon where they raised their family. A federal court in Oregon entered final judgments against Aequitas Management requiring the firms receiver to pay $453 million in disgorgement. 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. [More: Aequitas meltdown underscores the importance of due diligence, caution]. 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. 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. An official website of the United States government. It is being prosecuted by Scott E. Bradford and Ryan W. Bounds, Assistant U.S. 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. 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. Wealth Management as an industry doesnt understand direct real estate and real estate certainly doesnt understand wealth management, says Realized founder David Wieland. 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.
SEC files Complaint against Aequitas Management - Fishman Haygood 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. 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. 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. But this one was worse. 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. 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. He committed suicide in an attempt to hide . Six months later, on or about June 30, 2015, Gillis signed an amended loan agreement with Wells Fargo on Aequitass behalf. Bob Jesenik has not been criminally charged. | Articles Gillis was the second Aequitas chief financial officer. In these roles, he was responsible for directing Aequitass overall financial policies and accounting functions. Aequitas investors lost about $600 million after the collapse. Oliver also was charged criminally for his conduct and has pled guilty, but has not yet been sentenced. 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. 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. Youve missed the point, Anxiety over tax refunds on the rise, Bankrate.com study shows, Gensler steps up warnings to money managers. 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. Brian Oliver and Olaf Janke, Aequitas chief financial officer before Gillis, pleaded guilty to similar charges. Oliver was also charged criminally for his conduct. ORDER Presentence Report to be prepared by U.S. Previously, Brian was an Executive VP, Business Development at Alternative Asset Management. His attorneys have submitted bills for at least 2.7 million, far more than any other defendant. All Rights Reserved. This is a company that talked a woman into investing nearly her entire retirement nest-egg -- about half-a-million dollars - in October 2015, Kayser said. 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. Nevertheless, Papak ruled in favor of Jeseniks request for access to additional insurance funds to cover his defense. 13. But it appears they are far from done. 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
Investment adviser: Aequitas lied to investors | The Seattle Times 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. (2), Outcome: 04/19/2019 9 Order Setting Conditions of Release as to Defendant Brian A. Oliver. There was the company that bought bad debt from hospitals for pennies on the dollar and then tried to collect on the debt. Official websites use .gov 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. In January 2014, shortly before joining Aequitas, he was named to the Portland board of directors of the Federal Reserve Bank of San Francisco. | Store Gillis faces a maximum sentence of 30 years in prison, an $8.4 million fine, and five years supervised release. 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. Another was a utility executive who helped change Portlands business landscape. Longtime Aequitas No. Brian received a Bachelor of Science degree from Oregon State University. The Oregonian/OregonLive began investigating Aequitas in 2014, when it linked the firm to accusations of predatory student loans at Corinthian. Brian Rice and Scott Gillis, two of the company's six senior partners, resigned in recent weeks. 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. If you missed the last issue of InvestmentNews, you can access it here. A .gov website belongs to an official government organization in the United States. 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. It is free to register and only takes a minute or two. Official websites use .gov MacRitchie oversaw all Aequitas accounting, legal, and audit functions, and participated in fundraising. Email USAO-OR. John Deere boasted record profits in 2021 and finally struck a deal with striking union workers. They agreed to plead guilty and cooperate with the government. Now both have been sucked into the criminal fraud investigation of the collapsed firm. But much of that money has already been spent. Subscribe for original insights, commentary and analysis of the issues facing the financial advice community, from the InvestmentNews team. According to a Complaint filed on March 10, 2016 in Oregon federal district court, the SEC has brought claims against Aequitas Management, LLC (CRD# 143780/SEC# 801-68039) and three Aequitas executives, Robert J. Jesenik, Brian A. Oliver, and N. Scott Gillis for defrauding investors and for a breach of fiduciary duties. Oliver faces a maximum sentence of 30 years in prison, a $250,000 fine or twice the gross .
Brian Oliver - Technical Specialist - BCX | ZoomInfo Five of the six senior Aequitas executives have been charged with federal crimes or have pleaded guility. Signed on 4/19/19 by Magistrate Judge Stacie F. Beckerman. The agency on Wednesday barred Aequitas partial owner and chief executive Robert Jesenik, 60, partial owner and executive vice president Brian Oliver, 55, and former chief financial officer N. Forgot your password?
Re: United States of America v. Brian A. Oliver - MoreLaw Brian's experience encompasses a variety of positions across commercial banking, investment banking, alternative asset management, and business advisory services. Federal regulators claimed that Aequitas executives misled investors for years about the companys true financial condition. By the time Corinthian filed for bankruptcy and students went on strike refusing to pay their loans some 75% of the receivables of the Aequitas notes came from the for-profit scam, according to RIA Intels first story on Aequitas. This special highlights the best of the fifth annual event which was held in Singapore from November 14-17. U.S. Attorney's Office, District of Oregon, Former Aequitas CEO and Senior Executives Indicted in Fraud and Money Laundering Conspiracy, 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 CEO and Senior Executives Indicted In Fraud and Money Laundering Conspiracy. Get started today before this once in a lifetime opportunity expires. In a divorce settlement filed with the court, it's.
04/19/2019 12 Minutes of Proceedings: Entry of Plea Hearing held before Judge Michael W. Mosman for Defendant Brian A. Oliver. By the time he left, he was also in charge of Key Banks operations in Washington and Alaska. Add Andrew MacRitchie and Brian Rice, second and third from right, to the list of former Aequitas executives now facing substantial legal defense costs. 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. It entered into a deal to buy student loans from Corinthian, the notorious for-profit college. Defendant advised of rights. On March 16, 2016, pursuant to the Stipulated Interim Order Appointing Receiver, the Receiver was appointed as receiver .
Janke becomes second Aequitas executive to plead guilty; could get PORTLAND, Ore.U.S. 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. Its been a long time coming, Kayser said. 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. 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. One of Aequitas biggest moneymakers disappeared almost overnight. Portland, Oregon 97204
District of Oregon
Brians experience encompasses a variety of positions across commercial banking, investment banking, alternative asset management, and business advisory services. This case is being investigated by the FBI, IRS-Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration. 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.
SEC v. Aequitas Management, LLC; Aequitas Holdings, LLC; Aequitas Jesenik, Rice, and MacRitchie are all on pre-trial release pending a five-week jury trial scheduled to begin on April 3, 2023. RIA Intel is part of Delinian. 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.
Prosecutors' wide net: Prominent Portland executives sucked into Aequitas execs deny wrongdoing, cite 'corporate optimism' - oregonlive Sentencing for No. 2 Aequitas executive Brian Oliver moved to February 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. Have a question about Government Services? Gillis was the second Aequitas chief financial officer. They've got that too. Defendant proceeds as named. The third policy is now being consumed even though the criminal case is just getting underway and the pool of potential defendants is expanding. A locked padlock In reporting on the Aequitas claim, a local publication, The Oregonian, wrote: "Aequitas never gained the local reputation for integrity and savvy that its executives longed for. Attorneys for the District of Oregon. They are also prohibited from violating the SECs antifraud provisions. Brian A. Oliver, age 51, resides in Aurora, Oregon. Brian Oliver, Aequitas Capital's longtime No. Brian Oliver and Olaf Janke, former senior Aequitas executives, have in recent months cut plea deals with federal prosecutors. 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. Aequitas was allegedly a fraud on top of another fraud Corinthian Colleges, the scandal ridden for-profit college that went bankrupt in 2015. I have really enjoyed working with Seth, Brian and the Cathedral team. 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 An indictment is only an accusation of a crime, and defendants are presumed innocent unless and until proven guilty.
Brian A Oliver, Aequitas Capital Mgmt Inc: Profile and Biography Luminaries from the downtown business establishment wanted to join the team.
Counsel Present for Defendant: Whitney Boise, Kendra Matthews. The company's general counsel just quit. 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! Three other former Aequitas executives, including a former Portland bank president and a senior utility executive, were also charged. They've got that too.
3 Executives of Aequitas Management LLC Charged for Fraud Rueben Iniguez, a lawyer in the federal defenders office in Portland, is representing Jesenik. Brian Rice and Scott Gillis, two of the company's six senior partners, resigned in recent weeks. 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. 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. Lock Collectively, the defendants also failed to disclose other critical facts about the company, including its near-constant liquidity and cash-flow crises, the use of investor money to repay other investors and to defray operating expenses, and the lack of collateral to secure funds. YouTubes privacy policy is available here and YouTubes terms of service is available here. (Entered: 04/19/2019)
Other funds went to pay their salaries. Irvine, California-based Eric Gallinger is affiliating with LPL through Stratos Wealth Partners. If you purchase a product or register for an account through one of the links on our site, we may receive compensation. There are also questions about whether Jesenik and other defendants spent the money appropriately. Co-founders Bob Jesenik and Brian Oliver had participated in too many sketchy deals for sophisticated Oregon investors to feel comfortable with them. It began to default on the interest payments owed its legion of mom and pop investors.
Brian Oliver - Senior Advisor & President, Cathedral Finance Aequitas Capital Management Lawsuit - Law Meg The Aequitas entities, Jesenik, and Gillis consented to the entry of final judgment without admitting or denying the SECs allegations. Lock Secure .gov websites use HTTPS Brian Rice and Scott Gillis, two of the company's six senior partners, resigned in recent weeks. Portland, Oregon 97204
Counsel Present for the Government: Scott E. Bradford and Ryan W. Bounds. 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. 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.