brian oliver, aequitas

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. Guilty pleas entered as to Counts 1 and 2 of the Information. 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. Irvine, California-based Eric Gallinger is affiliating with LPL through Stratos Wealth Partners. 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. The company opened slick new offices in New York City. In these roles, he was responsible for directing Aequitass overall financial policies and accounting functions. (1) 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. Counsel Present for the Government: Scott E. Bradford and Ryan W. Bounds. 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. 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. Email USAO-OR. 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. But this one was worse. 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 Email USAO-OR. Defendant proceeds as named. Brian Rice and Scott Gillis, two of the company's six senior partners, resigned in recent weeks. Attorney Billy J. Williams announced today that Brian A. Oliver,a former owner and executive vicepresident of Aequitas Management, LLC and several other Aequitas . Timothy Laniers firm in Neptune Beach, Florida, focuses on serving doctors and health care executives. Much of the cash went to make the payments owed to other investors. (chso). 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.. 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. The third policy is now being consumed even though the criminal case is just getting underway and the pool of potential defendants is expanding. District of Oregon Another was a utility executive who helped change Portlands business landscape. 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? (kms) (Entered: 04/19/2019), Home Nevertheless, Papak ruled in favor of Jeseniks request for access to additional insurance funds to cover his defense. Brian Oliver - Senior Advisor & President, Cathedral Finance - Cathedral Consulting | LinkedIn Brian Oliver At Cathedral we help entrepreneurs with momentum build value in their business. According to court documents, Aequitas created and operated investment funds that purchased trade receivables in education, health care, transportation, and other consumer credit areas. This case is being investigated by the FBI, IRS-Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration. President, Cathedral Finance|Senior Advisor. Once a high-flying Lake Oswego . All rights reserved (About Us). Brians experience encompasses a variety of positions across commercial banking, investment banking, alternative asset management, and business advisory services. The complaint also alleges that Aequitas Capital Management Inc. and Aequitas Investment Management LLC violated Sections 206(1), 206(2), and 206(4) of the Investment Advisers Act of 1940 and Rule 206(4)-8 thereunder, and that Jesenik, Oliver, and Gillis aided and abetted the violations of Aequitas and the affiliated entities. Aequitas borrowed funds from other financial institutions, including Wells Fargo Bank, N.A., to purchase these trade receivables. 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 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. 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. Reset here, 1999 - 2023 citywire.com. MacRitchie was the companys executive vice president and chief compliance officer. Arraignment held for Defendant Brian A. Oliver on Counts 1 and 2 of the Information. 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. 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. Advisors providing advice on cryptocurrency-related assets should do so with caution, according to a new report by the CFP Board. 1000 SW Third Ave Suite 600 Share sensitive information only on official, secure websites. Jesenik also must pay a civil penalty of $625,000. If you need help with finances, they've got that covered. They agreed to plead guilty and cooperate with the government. 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. 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. An indictment is only an accusation of a crime, and defendants are presumed innocent unless and until proven guilty. It was the beginning of the end for the high-flying company. They've got that too. The firm sold more than $300 million worth of private investment notes, mostly through financial advisers. The company had three policies each for $5 million of coverage. Rice served as Aequitass executive vice president and president of wealth management. 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. 04/19/2019 11 Waiver of Indictment by Brian A. Oliver (schm) (Entered: 04/19/2019) They agreed to plead guilty and cooperate with the government.. Official websites use .gov | Editor Neither were charged when the U.S. Securities and Exchange Commission shut Aequitas down and filed a civil lawsuit in March 2016. 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. Please read our Terms and Conditions, Modern Slavery Act Transparency Statement, and Privacy Policy before using the site. Both Rice and MacRitchie were high-profile Portland executives before joining Aequitas. 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). Oliver was the primary fundraiser for ACF and the Aequitas Funds and a member of the management committees responsible for selecting or approving the investments made with investor . If you need help with finances, they've got that covered. But the defendants have already spent more than $10 million on legal costs, exhausting the first two policies. 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. Brian has been a Senior Advisor with Cathedral Consulting since 2017. All material subject to strictly enforced copyright laws. The final judgments prohibit Jesenik, Oliver, and Gillis from serving as officers or directors of any public company. Co-founders Bob Jesenik and Brian Oliver had participated in too many sketchy deals for sophisticated Oregon investors to feel comfortable with them. Lock Attorneys for the District of Oregon. 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. Over the last few years Cathedral has really provided sage advice as weve been growing our green building companies. They also have people who have helped raise money and sell businesses so they can help with that too. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. Signed on 4/19/2019 by Judge Michael W. Mosman. 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. Aequitas collapsed in 2016 owing about $600 million to investors. Previously, Brian was an Executive VP, Business Development at Alternative Asset Management. Brian A Oliver is Exec VP & Pres:Financial Svcs at Aequitas Capital Mgmt Inc. See Brian A Oliver's compensation, career history, education, & memberships. Lock Left to right they are Bob Jesenik, Scott Gillis, Craig Froude (not charged with any crime,) Brian Rice, Andrew MacRitchie and Brian Oliver. More Local News to Love Start today for 50% off Expires 3/6/23. Gillis was the second Aequitas chief financial officer. 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). 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.. 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. 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. A locked padlock 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. It is being prosecuted by Scott E. Bradford and Ryan W. Bounds, Assistant U.S. 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. Attorneys for the District of Oregon. 04/19/2019 13 Plea Agreement as to Brian A. Oliver (kms) (Entered: 04/19/2019) By that time, it was clear to Aequitas executives the company was in deep financial trouble., Kayser added. Aequitas investors lost about $600 million after the collapse. They've got that too. The court also required Robert J. Jesenik, the firm's former CEO, and Brian A. Oliver,. Brian Oliver and Olaf Janke, former senior Aequitas executives, have in recent months cut plea deals with federal prosecutors. He worked for Portland banks for much of his career before he was named regional president of Key Bank in 2006. ) or https:// means youve safely connected to the .gov website. 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. But they made good money for Aequitas and its investors. He is scheduled to be. Oliver was originally scheduled to be sentenced on Aug. 5, but the sentencing date was moved to Nov.. If you purchase a product or register for an account through one of the links on our site, we may receive compensation. 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. Aequitas also had tentacles spread throughout the RIA world. The sentencing for former Aequitas Capital executive Brian Oliver has been moved again. Other funds went to pay their salaries. Aequitas was allegedly a fraud on top of another fraud Corinthian Colleges, the scandal ridden for-profit college that went bankrupt in 2015.

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