04/19/2019 11 Waiver of Indictment by Brian A. Oliver (schm) (Entered: 04/19/2019) 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. 2023 Advance Local Media LLC. 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. Oliver is the 25% owner of Aequitas Management and an Executive Vice President of the Entity Defendants. Oliver was originally scheduled to be sentenced on Aug. 5, but the sentencing date was moved to Nov.. 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. SEC files Complaint against Aequitas Management - Fishman Haygood The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. Brian has over 30 years experience in providing corporate finance and consulting solutions to small and medium sized businesses. In these roles, he was responsible for directing Aequitass overall financial policies and accounting functions. Official websites use .gov District of Oregon | Former Aequitas Owner and Executive Vice President Theyve got a team that really loves entrepreneurship and is equipped with different skill sets. Lock 1000 SW Third Ave Suite 600 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. SEC Posts Notice of Covered Action Regarding Case Against Aequitas ) or https:// means youve safely connected to the .gov website. 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. 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. Waiver of indictment signed and accepted by the Court. It entered into a deal to buy student loans from Corinthian, the notorious for-profit college. Brian Oliver, Aequitas Capital's longtime No. Marketing? Former Aequitas CEO testifies in divorce trial Brian Oliver and Olaf Janke, Aequitas chief financial officer before Gillis, pleaded guilty to similar charges. Brian received a Bachelor of Science degree from Oregon State University. PDF SEC Complaint: Aequitas Management, LLC; Aequitas Holdings, LLC But it appears they are far from done. They've got that too. A .gov website belongs to an official government organization in the United States. Nevertheless, Papak ruled in favor of Jeseniks request for access to additional insurance funds to cover his defense. 04/19/2019 12 Minutes of Proceedings: Entry of Plea Hearing held before Judge Michael W. Mosman for Defendant Brian A. Oliver. PORTLAND, Ore.U.S. Prosecutors claim the Aequitas executives misled company investors about how their money was being used. More Local News to Love Start today for 50% off Expires 3/6/23. He declined to comment. Main Office: 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. Have a question about Government Services? District of Oregon | Former Aequitas Senior Executive and Chief Nelson Scott Gillis, 69, of Lake Oswego, Oregon, pleaded guilty to one count of making a false statement to a bank. A locked padlock By late 2015, Aequitas was suffering one of its periodic cash flow crises. 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. Court orders Aequitas to disgorge $453 million in fraud case Attorneys for the receiver now in charge of Aequitas, have voiced alarm at the share of the insurance money spent by Jesenik. He was even on the board of the Arlington Club. Gillis was the second Aequitas chief financial officer. Brian Oliver, Aequitas Capital's longtime No. Brian Oliver - Senior Advisor & President, Cathedral Finance Plus, Jeseniks monthly legal fees approximately quadrupled after he hired new counsel in approximately March 2017. A native of the United Kingdom, he served as the British honorary consul in Portland for several years. By the time he left, he was also in charge of Key Banks operations in Washington and Alaska. Jesenik, Rice, and MacRitchie are all on pre-trial release pending a five-week jury trial scheduled to begin on April 3, 2023. Five of the six senior Aequitas executives have been charged with federal crimes or have pleaded guility. Not guilty pleas and denial of forfeiture allegation entered. 2 executive Brian Oliver pleaded guilty to the same charges in April. SEC charges advisor over Aequitas conflicts of interest. Aequitas collapsed in 2016 owing about $600 million to investors. Former Aequitas Owner and Executive Vice President . ) or https:// means youve safely connected to the .gov website. Chris Kayser, a Portland lawyer who represented 120 people who had invested in Aequitas, saw firsthand how unsophisticated investors were taken advantage of. Counsel Present for Plaintiff: Scott Bradford, Ryan Bounds. 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. ORDER granting the Government's oral motion to unseal the case. brian oliver, aequitas brian oliver, aequitas Home Realizacje i porady Bez kategorii brian oliver, aequitas SEC Charges Oregon-Based Investment Group and Executives With They've got that too. With love for the 60/40 portfolio fading, 50/30/20 looks to be the cool new kid on the block. 2023 Advance Local Media LLC. | Privacy Statement. Secure .gov websites use HTTPS 3 Executives of Aequitas Management LLC Charged for Fraud A locked padlock ) or https:// means youve safely connected to the .gov website. 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. 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. An indictment is only an accusation of a crime, and defendants are presumed innocent unless and until proven guilty. Aequitas Capital No. 2 Brian Oliver pleads guilty to criminal charges Redmond adviser caught in Oregon firm's $600M financial collapse If you missed the last issue of InvestmentNews, you can access it here. Defunct Aequitas misled investors, cooked books, ran Ponzi - oregonlive The Oregonian/OregonLive began investigating Aequitas in 2014, when it linked the firm to accusations of predatory student loans at Corinthian. Six months later, on or about June 30, 2015, Gillis signed an amended loan agreement with Wells Fargo on Aequitass behalf. Main Office: Over the last few years Cathedral has really provided sage advice as weve been growing our green building companies. Defendant advised of rights. Official websites use .gov Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. RIA Intel is part of Delinian. Learn more about reprints and licensing for this article. 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 There was the commercial lender. 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 Signed on 4/19/2019 by Judge Michael W. Mosman. brian oliver, aequitas 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. Secure .gov websites use HTTPS 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. Aequitas Settles With SEC for $540 Million as Three Top - RIAIntel 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. Between 2011 and 2014, Aequitas purchased more than $561 million in student loan debt, almost all of which was with Corinthian. Get started today before this once in a lifetime opportunity expires. It began to default on the interest payments owed its legion of mom and pop investors. But now it has a bigger problem: farmers are revolting against restrictions on how they repair complex equipment. He is scheduled to be sentenced on Aug. 5. Ledger left the company in 2005 in a highly controversial and public way. (chso). ORDER Presentence Report to be prepared by U.S. As part of his plea agreement, Gillis has also agreed to pay restitution as determined by the government and ordered by the court. Left to right they are Bob Jesenik, Scott Gillis, Craig Froude (not charged with any crime,) Brian Rice, Andrew MacRitchie and Brian Oliver. The company's general counsel just quit. 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.. Seven years ago, it was easy to believe in Aequitas. Gillis faces a maximum sentence of 30 years in prison, an $8.4 million fine, and five years supervised release. Court finds defendant capable and competent to enter plea. (Tape #FTR-9B) (gw) (Entered: 04/19/2019) 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. 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. Probation. Oliver also was charged criminally for his conduct and has pled guilty, but has not yet been sentenced. Brian Oliver and Olaf Janke, Aequitas chief financial officer before Gillis, pleaded guilty to similar charges. 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). There was no more hiding the fact that Aequitas was broke. 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. Main Office: | Link Errors Until now, Rice and MacRitchie have faced minimal legal expenses. His attorneys have submitted bills for at least 2.7 million, far more than any other defendant. Subscribe for original insights, commentary and analysis of the issues facing the financial advice community, from the InvestmentNews team. The court also required Robert J. Jesenik, the firm's former CEO, and Brian A. Oliver,. As such, he was responsible for the development and implementation of risk management and compliance processes and procedures. Marketing? 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. | Sign In, Verdict Corrections On or about January 12, 2015, Aequitas entered into a loan agreement with Wells Fargo to establish a $100 million line of credit. Lock Neither were charged when the U.S. Securities and Exchange Commission shut Aequitas down and filed a civil lawsuit in March 2016. 2 executive, on Friday pleaded guilty to conspiracy to commit mail and wire fraud and conspiracy to commit money laundering. Luminaries from the downtown business establishment wanted to join the team. The new indictments bring to six the number of former Aequitas executives charged with defrauding investors. 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. But the defendants have already spent more than $10 million on legal costs, exhausting the first two policies. ORDER Defendant released on previous conditions. Portland, Oregon 97204 SEC v. Aequitas Management, LLC; Aequitas Holdings, LLC; Aequitas Bob Jesenik, three other former Aequitas executives - Oregonlive The sentencing for former Aequitas Capital executive Brian Oliver has been moved again. President, Cathedral Finance|Senior Advisor. Aequitas investors lost about $600 million after the collapse. Brian A. Oliver, age 51, resides in Aurora, Oregon. It is being prosecuted by Scott E. Bradford and Ryan W. Bounds, Assistant U.S. 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. If you need help with finances, they've got that covered. Longtime Aequitas No. Rice served as Aequitass executive vice president and president of wealth management. This story was revised on Aug. 21, 2020 to correct some details about Brian Rices professional background. 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. Have a question about Government Services? (See separate order.) 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. Attorneys for the District of Oregon. He will be sentenced on August 5, 2019before U.S. District Court Judge Michael W. Mosman. Rice, a longtime Portland banker who eventually became regional president for Key Bank, gave up the big downtown office to join Aequitas in 2014. 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. Its not just the amount of insurance money that went to Jesenik that concerns the receiver. Owler Reports - KCC: Aequitas Capital No. 2 Brian Oliver pleads guilty It is being prosecuted by Scott E. Bradford and Ryan W. Bounds, Assistant U.S. By that time, it was clear to Aequitas executives the company was in deep financial trouble., Kayser added. But they made good money for Aequitas and its investors. 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. 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. The current Aequitas Capital Management lawsuit was brought on by the heirs of Matthew Ledger. Brian Rice and Scott Gillis, two of the company's six senior partners, resigned in recent weeks. Oliver was a partial owner and Executive Vice President of Aequitas Management, LLC ("Aequitas Management . They also have people who have helped raise money and sell businesses so they can help with that too. Brian Mariash, James Lowther and their team will operate as Mariash Lowther Wealth Management in Sarasota, Florida. In anticipation of the institution of these proceedings, Respondent has submitted an Offer . They agreed to plead guilty and cooperate with the government.. 1000 SW Third Ave Suite 600 Attorneys for the District of Oregon. A .gov website belongs to an official government organization in the United States. Former CFO N. Scott Gillis was required to pay a $300,000 civil penalty. Brian has been a Senior Advisor with Cathedral Consulting since 2017. 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! Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". Email USAO-OR. He worked for Portland banks for much of his career before he was named regional president of Key Bank in 2006. In a divorce settlement filed with the court, it's. 2023 InvestmentNews LLC. He will be sentenced on June 27, 2023 by U.S. District Court Judge Michael H. Simon. The Oregonian first reported the criminal charges and guilty plea. They hurt a whole lot of people.. But this one was worse. Brian A Oliver, Aequitas Capital Mgmt Inc: Profile and Biography Rueben Iniguez, a lawyer in the federal defenders office in Portland, is representing Jesenik. Section 203(f) of the Investment Advisers Act of 1940 ("Advisers Act") against Brian A. Oliver ("Oliver" or "Respondent"). (Entered: 04/19/2019) According to court documents, Aequitas created and operated investment funds that purchased trade receivables in education, health care, transportation, and other consumer credit areas. Signed on 4/19/19 by Magistrate Judge Stacie F. Beckerman. Plea Petition and Plea Agreement signed and accepted by the Court. 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. All three are permanently barred from the securities industry. This special highlights the best of the fifth annual event which was held in Singapore from November 14-17. Co-founders Bob Jesenik and Brian Oliver had participated in too many sketchy deals for sophisticated Oregon investors to feel comfortable with them. 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. Both Rice and MacRitchie were high-profile Portland executives before joining Aequitas. B. The company's general counsel just quit. This case is being investigated by the FBI, IRS Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration. Theyve recovered much of that money in a series of civil lawsuits against the professional firms that worked for Aequitas. Portland, Oregon 97204 (kms) (Entered: 04/19/2019), Home Investors agree to $234.6M in settlements in Aequitas was - Portland 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. 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. Investment adviser: Aequitas lied to investors, hid - oregonlive 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. 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. 2 executive, on Friday pleaded guilty to conspiracy to commit mail and wire fraud and conspiracy to commit money laundering. 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. Theyve got a team that really loves entrepreneurship and is equipped with different skill sets. But much of that money has already been spent. There was the company that bought bad debt from hospitals for pennies on the dollar and then tried to collect on the debt. Wealth Management as an industry doesnt understand direct real estate and real estate certainly doesnt understand wealth management, says Realized founder David Wieland. Share sensitive information only on official, secure websites. All material subject to strictly enforced copyright laws.
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