It is free to register and only takes a minute or two. Defunct Aequitas misled investors, cooked books, ran Ponzi - oregonlive brian oliver, aequitas Arraignment held for Defendant Brian A. Oliver on Counts 1 and 2 of the Information. This case is being investigated by the FBI, IRS Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration. They both opted not to talk. John Deere boasted record profits in 2021 and finally struck a deal with striking union workers. But it appears they are far from done. Oliver was also charged criminally for his conduct. | Privacy Statement. Until now, Rice and MacRitchie have faced minimal legal expenses. 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. Counsel Present for the Government: Scott E. Bradford and Ryan W. Bounds. 2023 Advance Local Media LLC. Waiver of indictment signed and accepted by the Court. Aequitas execs deny wrongdoing, cite 'corporate optimism' - oregonlive Advisors providing advice on cryptocurrency-related assets should do so with caution, according to a new report by the CFP Board. The court also required Robert J. Jesenik, the firm's former CEO, and Brian A. Oliver,. There was the motorcycle leasing company. MacRitchie oversaw all Aequitas accounting, legal, and audit functions, and participated in fundraising. Ledger was the co-founder of Aequitas, which was then a small New York based company that dealt primarily in commercial paper. 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. 1000 SW Third Ave Suite 600
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. They remain active in their local church as well as volunteer with several other local non-profits, and in their leisure time enjoy hiking and camping in their travel trailer when not otherwise spending time with their two adult children. 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 An official website of the United States government. He was even on the board of the Arlington Club. Rice, a longtime Portland banker who eventually became regional president for Key Bank, gave up the big downtown office to join Aequitas in 2014. 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. Rice, former president of Key Bank of Oregon, acknowledged in recent court filings that he is a target in the case. Brian Oliver is an Executive Vice President & President, Aequitas Financial Services Network at Aequitas Capital Management based in Lake Oswego, O regon. The recent filings indicate several additional Aequitas executives, like Rice and MacRitchie, are in harms way. 1000 SW Third Ave Suite 600
It is believed that since he was ousted from Aequitas, Jesenik has been. A .gov website belongs to an official government organization in the United States. SECURITIES AND EXCHANGE COMMISSION v. AEQUITAS MANAGEMENT, LLC - Leagle Brian Oliver, Aequitas Capital's longtime No. It is being prosecuted by Scott E. Bradford and Ryan W. Bounds, Assistant U.S. 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? 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. (Tape #FTR-9B) (gw) (Entered: 04/19/2019) 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. He committed suicide in an attempt to hide . The Aequitas entities, Jesenik, and Gillis consented to the entry of final judgment without admitting or denying the SECs allegations. 04/19/2019 14 Plea Petition and Order Entering Plea as to Defendant Brian A. Oliver. The company's general counsel just quit. 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. Defendant sworn and examined. There was the commercial lender. PORTLAND, Ore.U.S. Luminaries from the downtown business establishment wanted to join the team. In anticipation of the institution of these proceedings, Respondent has submitted an Offer . President, Cathedral Finance|Senior Advisor. All rights reserved (About Us). They've got that too. 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 Its not just the amount of insurance money that went to Jesenik that concerns the receiver. Attorneys for the District of Oregon. 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). All rights reserved (About Us).
Brian provides Cathedral particular expertise in leading Merger & Acquisition transactions and arranging Corporate Finance solutions for its clients, after having been involved in extensive transactions of all sizes throughout his career. 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. Also charged are Nelson Scott Gillis, 67, of Lake Oswego, Oregon; Brian K. Rice, 54, of Portland; and Andrew N. MacRitchie, 56, formerly of Palm Harbor, Florida. 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. 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.. Aequitas borrowed funds from other financial institutions, including Wells Fargo Bank, N.A., to purchase these trade receivables. Defendant proceeds as named. Brians experience encompasses a variety of positions across commercial banking, investment banking, alternative asset management, and business advisory services. Ledger left the company in 2005 in a highly controversial and public way. The sentencing for former Aequitas Capital executive Brian Oliver has been moved again. In a separate proceeding, the SEC barred the three from the securities industry. Attorney Billy J. Williams announced today that Brian A. Oliver,a former owner and executive vicepresident of Aequitas Management, LLC and several other Aequitas . Gillis was the second Aequitas chief financial officer. District of Oregon | Former Aequitas Owner and Chief Financial Officer 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. But I think my clients will be thrilled. | Recent Lawyer Listings 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. A native of the United Kingdom, he served as the British honorary consul in Portland for several years. Brian Oliver and Olaf Janke, Aequitas chief financial officer before Gillis, pleaded guilty to similar charges. Defendant advised of rights. It entered into a deal to buy student loans from Corinthian, the notorious for-profit college. 04/19/2019 11 Waiver of Indictment by Brian A. Oliver (schm) (Entered: 04/19/2019) 1000 SW Third Ave Suite 600
Five of the six senior Aequitas executives have been charged with federal crimes or have pleaded guility. But prosecutors allege the Aequitas executives lied about the firms financial performance. 2 executive Brian Oliver pleaded guilty to the same charges in April. Scott Bradford is the lead prosecutor on the case. An indictment is only an accusation of a crime, and defendants are presumed innocent unless and until proven guilty. The firm sold more than $300 million worth of private investment notes, mostly through financial advisers. Add Andrew MacRitchie and Brian Rice, second and third from right, to the list of former Aequitas executives now facing substantial legal defense costs. 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. Counsel Present for Plaintiff: Scott Bradford, Ryan Bounds. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". Email USAO-OR. SEC bars Aequitas execs after $540m judgement against Oregon firm The current Aequitas Capital Management lawsuit was brought on by the heirs of Matthew Ledger. All three are permanently barred from the securities industry. 18:1957 CONSPIRACY TO COMMIT MONEY LAUNDERING Section 203(f) of the Investment Advisers Act of 1940 ("Advisers Act") against Brian A. Oliver ("Oliver" or "Respondent"). 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. District of Oregon | Former Aequitas Owner and Executive Vice President This special highlights the best of the fifth annual event which was held in Singapore from November 14-17. Plea Petition and Plea Agreement signed and accepted by the Court. Aequitas Capital Management Lawsuit - Law Meg Counsel Present for Defendant: Whitney Boise, Kendra Matthews. Portland, Oregon 97204
Cookie Settings/Do Not Sell My Personal Information. They hurt a whole lot of people.. As such, he was responsible for the development and implementation of risk management and compliance processes and procedures. Share sensitive information only on official, secure websites. Brian's experience encompasses a variety of positions across commercial banking, investment banking, alternative asset management, and business advisory services. Portland, Oregon 97204
Investors agree to $234.6M in settlements in Aequitas was - Portland That has changed as the criminal case nears the indictment stage. Get started today before this once in a lifetime opportunity expires. Rueben Iniguez, a lawyer in the federal defenders office in Portland, is representing Jesenik. 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. Among his responsibilities, Rice oversaw the solicitation of investments through registered investment advisors (RIA) and managed Aequitass affiliated RIAs. Community Rules apply to all content you upload or otherwise submit to this site. Counsel Present for Defendant: Whitney Patrick Boise and Kendra M. Matthews. Aequitas Management, LLC, et al. (Release No. LR-23485; March 11, 2016) Oliver also was charged criminally for his conduct and has pled guilty, but has not yet been sentenced. Owler Reports - KCC: Aequitas Capital No. 2 Brian Oliver pleads guilty 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! Portland, Oregon 97204
Aequitas was allegedly a fraud on top of another fraud Corinthian Colleges, the scandal ridden for-profit college that went bankrupt in 2015. Chris Kayser, a Portland lawyer who represented 120 people who had invested in Aequitas, saw firsthand how unsophisticated investors were taken advantage of. I have really enjoyed working with Seth, Brian and the Cathedral team. Defendant advised of rights. MacRitchie, the former utility executive, was the picture of respectability. Brian Oliver, Aequitas Capital's longtime No. Jesenik, Rice, and MacRitchie are all on pre-trial release pending a five-week jury trial scheduled to begin on April 3, 2023. He will be sentenced on August 5, 2019before U.S. District Court Judge Michael W. Mosman. Investment adviser: Aequitas lied to investors, hid - oregonlive The company had three policies each for $5 million of coverage. PDF Former Aequitas Owner and Executive Vice President Pleads Guilty - DOL SEC v. Aequitas Management, LLC; Aequitas Holdings, LLC; Aequitas Longtime Aequitas No. 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. In January 2014, shortly before joining Aequitas, he was named to the Portland board of directors of the Federal Reserve Bank of San Francisco. SEC files Complaint against Aequitas Management - Fishman Haygood 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. Signed on 4/19/19 by Magistrate Judge Stacie F. Beckerman. MacRitchie was ScottishPowers point man in its efforts to buy Pacificorp and served as an executive vice president there. Gillis was the second Aequitas chief financial officer. 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 A locked padlock 2023 Advance Local Media LLC. Brian has been a Senior Advisor with Cathedral Consulting since 2017. 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. Please E-mail suggested additions, comments and/or corrections to Kent@MoreLaw.Com. II. 2020 update: Aequitas investors recoup some money. Re: United States of America v. Brian A. Oliver - MoreLaw MacRitchie was the companys executive vice president and chief compliance officer. But the defendants have already spent more than $10 million on legal costs, exhausting the first two policies. 2023 InvestmentNews LLC. SEC Charges Oregon-Based Investment Group and Executives With 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. It was actually a giant Ponzi scheme, they said, in which the company relied on money from new investors to repay the old. 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. 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. Lock Brian A. Oliver, age 51, resides in Aurora, Oregon. Sentencing for No. 2 Aequitas executive Brian Oliver moved to February Jesenik also must pay a civil penalty of $625,000. Gillis faces a maximum sentence of 30 years in prison, an $8.4 million fine, and five years supervised release. 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.
Inexpensive Wedding Venues Ohio,
Blue Eyed Yorkie Puppies For Sale,
Articles B
