Brian has been a Senior Advisor with Cathedral Consulting since 2017. 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. PORTLAND, Ore.U.S. 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. ORDER granting the Government's oral motion to unseal the case. Six months later, on or about June 30, 2015, Gillis signed an amended loan agreement with Wells Fargo on Aequitass behalf. 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. 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. They also have people who have helped raise money and sell businesses so they can help with that too. 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. 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. Thom Maher is launching a firm, Maher Wealth Management, in Phoenix. MacRitchie was ScottishPowers point man in its efforts to buy Pacificorp and served as an executive vice president there. Aequitas borrowed funds from other financial institutions, including Wells Fargo Bank, N.A., to purchase these trade receivables. The court also required Robert J. Jesenik, the firm's former CEO, and Brian A. Oliver,. Among his responsibilities, Rice oversaw the solicitation of investments through registered investment advisors (RIA) and managed Aequitass affiliated RIAs. Federal regulators claimed that Aequitas executives misled investors for years about the companys true financial condition. brian oliver, aequitas brian oliver, aequitas Home Realizacje i porady Bez kategorii brian oliver, aequitas It began to default on the interest payments owed its legion of mom and pop investors. 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. Counsel Present for Defendant: Whitney Boise, Kendra Matthews. Secure .gov websites use HTTPS 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? They are also prohibited from violating the SECs antifraud provisions. A .gov website belongs to an official government organization in the United States. Former Aequitas Owner and Executive Vice President . 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. 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. 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.. But much of that money has already been spent. Five of the six senior Aequitas executives have been charged with federal crimes or have pleaded guility. Brian Rice and Scott Gillis, two of the company's six senior partners, resigned in recent weeks. Brian has over 30 years experience in providing corporate finance and consulting solutions to small and medium sized businesses. B. Attorneys for the District of Oregon. Brian Oliver and Olaf Janke, former senior Aequitas executives, have in recent months cut plea deals with federal prosecutors. 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. (Entered: 04/19/2019) Official websites use .gov Rueben Iniguez, a lawyer in the federal defenders office in Portland, is representing Jesenik. Rice acknowledged in court filings that he's a suspect in the case. They've got that too. (kms) (Entered: 04/19/2019), Home All three are permanently barred from the securities industry. Main Office:
There was the company that bought bad debt from hospitals for pennies on the dollar and then tried to collect on the debt. 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 Government does not seek detention and Defendant is released on conditions. Defendant advised of rights. YouTubes privacy policy is available here and YouTubes terms of service is available here. In a divorce settlement filed with the court, it's. Jesenik also must pay a civil penalty of $625,000. All Rights Reserved. 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. The company's general counsel just quit. | Advertising | Privacy Statement. It was actually a giant Ponzi scheme, they said, in which the company relied on money from new investors to repay the old. Until now, Rice and MacRitchie have faced minimal legal expenses. He was even on the board of the Arlington Club. Previously, Brian was an Executive VP, Business Development at Alternative Asset Management. 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. He also established Aequitass New York Office and directed Aequitass Lux Fund, a Luxembourg-based fund used to solicit international investors. They also have people who have helped raise money and sell businesses so they can help with that too. It is being prosecuted by Scott E. Bradford and Ryan W. Bounds, Assistant U.S. | Sign In, Verdict Corrections | Editor 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. The new indictments bring to six the number of former Aequitas executives charged with defrauding investors. The company's general counsel just quit. Main Office:
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. Theyve got a team that really loves entrepreneurship and is equipped with different skill sets. The court appointed receiver now in charge of whats left of Aequitas opposes Rices and MacRitchies request for access to the insurance money. Brian and his wife of 30 years live in Aurora, Oregon where they raised their family. Community Rules apply to all content you upload or otherwise submit to this site. (Tape #FTR-9B) (gw) (Entered: 04/19/2019) Oliver also was charged criminally for his conduct and has pled guilty, but has not yet been sentenced. Chris Kayser, a Portland lawyer who represented 120 people who had invested in Aequitas, saw firsthand how unsophisticated investors were taken advantage of. Please sign in or register to comment. Oliver was a partial owner and Executive Vice President of Aequitas Management, LLC ("Aequitas Management . From June 2014 through February 2016, Oliver and others 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. 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There was the commercial lender. The company opened slick new offices in New York City. Irvine, California-based Eric Gallinger is affiliating with LPL through Stratos Wealth Partners. 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. Federal prosecutors have already cut guilty plea deals with two former Aequitas executives. All three are permanently barred from the securities industry. Reset here, 1999 - 2023 citywire.com. This story was revised on Aug. 21, 2020 to correct some details about Brian Rices professional background. If you need help with finances, they've got that covered. But it appears they are far from done. 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. Scott Gillis, 66, from the securities industry for their roles in a scheme that bilked hundreds of millions from investors. 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. An official website of the United States government. 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. 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. Plus, Jeseniks monthly legal fees approximately quadrupled after he hired new counsel in approximately March 2017. The Oregonian first reported the criminal charges and guilty plea. There was the motorcycle leasing company. Much of the cash went to make the payments owed to other investors. Another was a utility executive who helped change Portlands business landscape. 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. | Articles 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. 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. Defendant waived reading of the Information. 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. But now it has a bigger problem: farmers are revolting against restrictions on how they repair complex equipment. This case is being investigated by the FBI, IRS Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration. It is being prosecuted by Scott E. Bradford and Ryan W. Bounds, Assistant U.S. The Aequitas entities, which are in receivership, will have to pay $540 million in disgorgement and interest as part of the final judgment. 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. Brian's experience encompasses a variety of positions across commercial banking, investment banking, alternative asset management, and business advisory services. II. That has changed as the criminal case nears the indictment stage. Sam Kauffman is MacRitchies attorney. They've got that too. 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. But I think my clients will be thrilled. The high-interest loans were terrible for students. As such, he was responsible for the development and implementation of risk management and compliance processes and procedures. Attorneys for the receiver now in charge of Aequitas, have voiced alarm at the share of the insurance money spent by Jesenik. 2023 RIA Intel, an Institutional Investor Publication. 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. PORTLAND, Ore.U.S. 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. 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. 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. Share sensitive information only on official, secure websites. He pled guilty but has not yet been sentenced. 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. Now both have been sucked into the criminal fraud investigation of the collapsed firm. 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. Learn more about reprints and licensing for this article. 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. One of Aequitas biggest moneymakers disappeared almost overnight. Secure .gov websites use HTTPS 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 Aequitas entities, Jesenik, and Gillis consented to the entry of final judgment without admitting or denying the SECs allegations. Brian Rice and Scott Gillis, two of the company's six senior partners, resigned in recent weeks. 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.. John Deere boasted record profits in 2021 and finally struck a deal with striking union workers. Aequitas did make legitimate investments. ) or https:// means youve safely connected to the .gov website. The firm sold more than $300 million worth of private investment notes, mostly through financial advisers. (See separate order.) Defendant advised of rights. 18:1957 CONSPIRACY TO COMMIT MONEY LAUNDERING 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. In these roles, he was responsible for directing Aequitass overall financial policies and accounting functions. 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? Portland, Oregon 97204
Ameritrade and big law firms like Sidley Austin gave the local operation a sheen of legitimacy. PORTLAND, Ore.U.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. Have a question about Government Services? 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. 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. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local.
13. ) or https:// means youve safely connected to the .gov website. Portland, Oregon 97204
It is believed that since he was ousted from Aequitas, Jesenik has been. Both Rice and MacRitchie were high-profile Portland executives before joining Aequitas. 04/19/2019 11 Waiver of Indictment by Brian A. Oliver (schm) (Entered: 04/19/2019) The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. A lock ( The company had three policies each for $5 million of coverage. 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
An indictment is only an accusation of a crime, and defendants are presumed innocent unless and until proven guilty.