RIA Intel is part of Delinian. Reset here, 1999 - 2023 citywire.com. Mitsubishi Signs $1.9b Commuter Rail Deal With Manila: Nikkei, AllianceBernstein Wins China Approval to Set Up Mutual Fund Unit, Sorry, Fed, Most US Mortgage Rates Were Locked in During Pandemic Lows, Fed Says MoreRate Hikes Are Needed to Curb Inflation, US Service Sector Expands More Than Forecast Suggesting Hiring Success, VW Will Build a $2 Billion Electric Truck and SUV Plant in South Carolina, Saudi Wealth Fund in Talks to Buy Rocco Forte Hotels Stake, China E-Commerce Giant JD Set for $1.4 Billion Discount Spree, SoftBanks Son to Join Modi at Oyo Founders Wedding Gala, US-Sanctioned Huawei Makes a Show of Force at Mobile Conference, Hong Kong Court Convicts Activists Behind Tiananmen Vigil, Bidens About-Face on DC Crime Bill Shows Democrats on Defensive, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, NYC TikTok Dating Diary Chronicles Love in the Time of Inflation, Tom Sizemore, 'Saving Private Ryan' actor, dies at 61, AP Says, The Exhibit Reality TV Show PittingArtist Against ArtistIs No Masterpiece, Video Roundup: Opinions Must-See Footage of the Week, How Democrats Got Away From Third Way Politics, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Biden Gives Medal of Honor to Trailblazing Special Forces Member, Panic Over Metals for EVs Goes All the Way to Automakers C-Suites, Rivian Tells Staff EV Output May Be 24% More Than Forecast, What Do You Want to See in a Covid Memorial? 04/19/2019 13 Plea Agreement as to Brian A. Oliver (kms) (Entered: 04/19/2019) MacRitchie was the companys executive vice president and chief compliance officer. 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. Theyve recovered much of that money in a series of civil lawsuits against the professional firms that worked for Aequitas. Section 203(f) of the Investment Advisers Act of 1940 ("Advisers Act") against Brian A. Oliver ("Oliver" or "Respondent"). The Aequitas entities, Jesenik, and Gillis consented to the entry of final judgment without admitting or denying the SECs allegations. Waiver of indictment signed and accepted by the Court. 13. They hurt a whole lot of people.. There was the motorcycle leasing company. The fallout continues in the Aequitas Management scandal, which has produced guilty pleas, jail sentences, big-dollar fines and, now, additional bans from the industry by the Securities and Exchange Commission (SEC). 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. SEC v. Aequitas Management, LLC; Aequitas Holdings, LLC; Aequitas It entered into a deal to buy student loans from Corinthian, the notorious for-profit college. | Sign In, Verdict Corrections Theyve got a team that really loves entrepreneurship and is equipped with different skill sets. President, Cathedral Finance|Senior Advisor. 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 company opened slick new offices in New York City. Brian Oliver and Olaf Janke, Aequitas chief financial officer before Gillis, pleaded guilty to similar charges. PORTLAND, Ore.U.S. Prosecutors' wide net: Prominent Portland executives sucked into PORTLAND, Ore.U.S. Defendant sworn and examined. 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. Rueben Iniguez, a lawyer in the federal defenders office in Portland, is representing Jesenik. 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. (kms) (Entered: 04/19/2019), Home 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. Signed on 4/19/19 by Magistrate Judge Stacie F. Beckerman. Until now, Rice and MacRitchie have faced minimal legal expenses. ORDER Presentence Report to be prepared by U.S. PORTLAND, Ore.U.S. Chris Kayser, a Portland lawyer who represented 120 people who had invested in Aequitas, saw firsthand how unsophisticated investors were taken advantage of. With love for the 60/40 portfolio fading, 50/30/20 looks to be the cool new kid on the block. 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. A .gov website belongs to an official government organization in the United States. Aequitas was allegedly a fraud on top of another fraud Corinthian Colleges, the scandal ridden for-profit college that went bankrupt in 2015. (1) Longtime Aequitas No. Attorneys for the receiver now in charge of Aequitas, have voiced alarm at the share of the insurance money spent by Jesenik. 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 Portland, Oregon 97204 Both Rice and MacRitchie were high-profile Portland executives before joining Aequitas. 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. Aequitas Capital No. 2 Brian Oliver pleads guilty to criminal charges John Deere boasted record profits in 2021 and finally struck a deal with striking union workers. Share sensitive information only on official, secure websites. Bob Jesenik has not been criminally charged. It is being prosecuted by Scott E. Bradford and Ryan W. Bounds, Assistant U.S. Brian Oliver and Olaf Janke, Aequitas chief financial officer before Gillis, pleaded guilty to similar charges. In January 2014, shortly before joining Aequitas, he was named to the Portland board of directors of the Federal Reserve Bank of San Francisco. 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. Oliver is the first former Aequitas Capital executive to be criminally charged. All three are permanently barred from the securities industry. Investment adviser: Aequitas lied to investors, hid - oregonlive SEC files Complaint against Aequitas Management - Fishman Haygood The Oregonian first reported the criminal charges and guilty plea. If you purchase a product or register for an account through one of the links on our site, we may receive compensation. 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. 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. Brians experience encompasses a variety of positions across commercial banking, investment banking, alternative asset management, and business advisory services. The company's general counsel just quit. | Recent Lawyer Listings PDF United States of America Securities and Exchange Commission Investment 2023 InvestmentNews LLC. 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. Attorneys for the District of Oregon. 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. 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. 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. MacRitchie, the former utility executive, was the picture of respectability. 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. If you missed the last issue of InvestmentNews, you can access it here. Cookie Settings/Do Not Sell My Personal Information. Brian Oliver - Technical Specialist - BCX | ZoomInfo Sentencing is set for 8/5/2019 at 9:00AM in Portland before Judge Michael W. Mosman. 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. 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. 18:1957 CONSPIRACY TO COMMIT MONEY LAUNDERING Among his responsibilities, Rice oversaw the solicitation of investments through registered investment advisors (RIA) and managed Aequitass affiliated RIAs. 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. Official websites use .gov Marketing? Brian has been a Senior Advisor with Cathedral Consulting since 2017. ORDER granting the Government's oral motion to unseal the case. Five of the six senior Aequitas executives have been charged with federal crimes or have pleaded guility. Seven years ago, it was easy to believe in Aequitas. An official website of the United States government. 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). Counsel Present for the Government: Scott E. Bradford and Ryan W. Bounds. Aequitas Management, LLC, et al. (Release No. LR-23485; March 11, 2016) Counsel Present for Defendant: Whitney Boise, Kendra Matthews. Three other former Aequitas executives, including a former Portland bank president and a senior utility executive, were also charged. Oliver was originally scheduled to be sentenced on Aug. 5, but the sentencing date was moved to Nov.. II. Former Aequitas Owner and Executive Vice President . 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 SEC Charges Oregon-Based Investment Group and Executives With 2 executive Brian Oliver pleaded guilty to the same charges in April. Previously, Brian was an Executive VP, Business Development at Alternative Asset Management. Signed on 4/19/2019 by Judge Michael W. Mosman. SEC bars Aequitas execs after $540m judgement against Oregon firm Gillis faces a maximum sentence of 30 years in prison, an $8.4 million fine, and five years supervised release. This case is being investigated by the FBI, IRS-Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration. 2023 Advance Local Media LLC. Youve missed the point, Anxiety over tax refunds on the rise, Bankrate.com study shows, Gensler steps up warnings to money managers. They both opted not to talk. Accounting giant Deloitte, stock trader T.D. Other funds went to pay their salaries. 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! They also have people who have helped raise money and sell businesses so they can help with that too. He argues he needs the money to help defray losses suffered by Aequitas investors. But I think my clients will be thrilled. Get started today before this once in a lifetime opportunity expires. Aequitas specialized in debt. 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. PORTLAND, Ore.U.S. The Oregonian/OregonLive began investigating Aequitas in 2014, when it linked the firm to accusations of predatory student loans at Corinthian. As part of his plea agreement, Gillis has also agreed to pay restitution as determined by the government and ordered by the court. 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. Thom Maher is launching a firm, Maher Wealth Management, in Phoenix. 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 material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. But much of that money has already been spent. One of Aequitas biggest moneymakers disappeared almost overnight. MacRitchie was ScottishPowers point man in its efforts to buy Pacificorp and served as an executive vice president there. All material subject to strictly enforced copyright laws. Janke becomes second Aequitas executive to plead guilty; could get Defendant proceeds as named. The sentencing for former Aequitas Capital executive Brian Oliver has been moved again. 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 native of the United Kingdom, he served as the British honorary consul in Portland for several years. The final judgments prohibit Jesenik, Oliver, and Gillis from serving as officers or directors of any public company. This special highlights the best of the fifth annual event which was held in Singapore from November 14-17. 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 recent filings indicate several additional Aequitas executives, like Rice and MacRitchie, are in harms way. 1000 SW Third Ave Suite 600 Both Rice and MacRitchie have asked the court for access to Aequitas insurance money to cover their defense costs. He also established Aequitass New York Office and directed Aequitass Lux Fund, a Luxembourg-based fund used to solicit international investors. By that time, it was clear to Aequitas executives the company was in deep financial trouble., Kayser added. SECURITIES AND EXCHANGE COMMISSION v. AEQUITAS MANAGEMENT, LLC - Leagle The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. Over the last few years Cathedral has really provided sage advice as weve been growing our green building companies. They agreed to plead guilty and cooperate with the government. Lock Attorneys for the District of Oregon. Defendant advised of rights. Aequitas collapsed in 2016 owing about $600 million to investors. Plus, Jeseniks monthly legal fees approximately quadrupled after he hired new counsel in approximately March 2017. The new indictments bring to six the number of former Aequitas executives charged with defrauding investors. Over the last few years Cathedral has really provided sage advice as weve been growing our green building companies. 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? 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? Nelson Scott Gillis, 69, of Lake Oswego, Oregon, pleaded guilty to one count of making a false statement to a bank. It is free to register and only takes a minute or two. Plea Petition and Plea Agreement signed and accepted by the Court. Court finds defendant capable and competent to enter plea. They've got that too. Main Office: 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. They are also prohibited from violating the SECs antifraud provisions. Brian Oliver - Senior Advisor & President, Cathedral Finance They've got that too. YouTubes privacy policy is available here and YouTubes terms of service is available here. 2 executive, on Friday pleaded guilty to conspiracy to commit mail and wire fraud and conspiracy to commit money laundering. Re: United States of America v. Brian A. Oliver - MoreLaw 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. 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. | Privacy Statement. 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. It is being prosecuted by Ryan W. Bounds, Christopher Cardani and Siddharth Dadhich, Assistant U.S. On March 16, 2016, pursuant to the Stipulated Interim Order Appointing Receiver, the Receiver was appointed as receiver . PORTLAND, Ore.U.S. 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. 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 (chso). Oliver faces a maximum sentence of 30 years in prison, a $250,000 fine or twice the gross . Prosecutors claim the Aequitas executives misled company investors about how their money was being used. A locked padlock 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. Federal prosecutors have already cut guilty plea deals with two former Aequitas executives. Defendant advised of rights. 04/19/2019 14 Plea Petition and Order Entering Plea as to Defendant Brian A. Oliver. 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. Rice served as Aequitass executive vice president and president of wealth management. District of Oregon | Former Aequitas Owner and Chief Financial Officer 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. This case is being investigated by the FBI, IRS Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration. 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. Gillis was the second Aequitas chief financial officer. 1000 SW Third Ave Suite 600 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. Advisors providing advice on cryptocurrency-related assets should do so with caution, according to a new report by the CFP Board. A locked padlock 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. 0. Email USAO-OR. 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. I have really enjoyed working with Seth, Brian and the Cathedral team. Once a high-flying Lake Oswego . | Store Jesenik, Rice, and MacRitchie are all on pre-trial release pending a five-week jury trial scheduled to begin on April 3, 2023. Oliver was a partial owner and Executive Vice President of Aequitas Management, LLC ("Aequitas Management . Oliver also was charged criminally for his conduct and has pled guilty, but has not yet been sentenced. 2020 update: Aequitas investors recoup some money. 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. 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. Portland, Oregon 97204 Jesenik also must pay a civil penalty of $625,000. 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. ORDER Defendant released on previous conditions. [More: Aequitas meltdown underscores the importance of due diligence, caution]. No criminal charges have been filed against Bob Jesenik, Aequitas co-founder and CEO. | Advertising Attorney Billy J. Williams announced today that Brian A. Oliver,a former owner and executive vicepresident of Aequitas Management, LLC and several other Aequitas . (2), Outcome: 04/19/2019 9 Order Setting Conditions of Release as to Defendant Brian A. Oliver. 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. 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. Please sign in or register to comment. Community Rules apply to all content you upload or otherwise submit to this site. By late 2015, Aequitas was suffering one of its periodic cash flow crises. The Government does not seek detention and Defendant is released on conditions. It was the beginning of the end for the high-flying company. Oliver, former second-in-command at Aequitas, pleads guilty to fraud Email USAO-OR. 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. Brian A Oliver is Exec VP & Pres:Financial Svcs at Aequitas Capital Mgmt Inc. See Brian A Oliver's compensation, career history, education, & memberships. He committed suicide in an attempt to hide . In April, Brian Oliver, Aequitas. Court finds guilty pleas to be knowing and voluntary. He worked for Portland banks for much of his career before he was named regional president of Key Bank in 2006. Brian received a Bachelor of Science degree from Oregon State University. 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.. Defunct Aequitas misled investors, cooked books, ran Ponzi - oregonlive Brian Oliver is an Executive Vice President & President, Aequitas Financial Services Network at Aequitas Capital Management based in Lake Oswego, O regon.
Custom Engraved Valve Covers,
What Is Soft Stone Masonry,
Turkish Airlines Print Itinerary,
Heidi Brevet Oakland, Ca Obituary,
Sunshine Coast Council Party Noise Restrictions,
Articles B