brian oliver, aequitas

Nevertheless, Papak ruled in favor of Jeseniks request for access to additional insurance funds to cover his defense. A lock ( Please E-mail suggested additions, comments and/or corrections to Kent@MoreLaw.Com. Over the last few years Cathedral has really provided sage advice as weve been growing our green building companies. 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. Federal regulators claimed that Aequitas executives misled investors for years about the companys true financial condition. Oliver was a partial owner and Executive Vice President of Aequitas Management, LLC ("Aequitas Management . 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 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? 1000 SW Third Ave Suite 600 Luminaries from the downtown business establishment wanted to join the team. The firm purchased or invested in other financial firms, many of them glorified debt collectors. Add Andrew MacRitchie and Brian Rice, second and third from right, to the list of former Aequitas executives now facing substantial legal defense costs. 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. Gillis was the second Aequitas chief financial officer. 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 such, he was responsible for the development and implementation of risk management and compliance processes and procedures. It is believed that since he was ousted from Aequitas, Jesenik has been. (kms) (Entered: 04/19/2019), Home 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. Signed on 4/19/2019 by Judge Michael W. Mosman. In January 2014, shortly before joining Aequitas, he was named to the Portland board of directors of the Federal Reserve Bank of San Francisco. 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 II. Brian Oliver, Aequitas Capital's longtime No. Email USAO-OR. The Aequitas entities, Jesenik, and Gillis consented to the entry of final judgment without admitting or denying the SECs allegations. 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). 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. 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. The current Aequitas Capital Management lawsuit was brought on by the heirs of Matthew Ledger. MacRitchie was the companys executive vice president and chief compliance officer. Both Rice and MacRitchie were high-profile Portland executives before joining Aequitas. Over the last few years Cathedral has really provided sage advice as weve been growing our green building companies. Scott Bradford is the lead prosecutor on the case. Gillis was the second Aequitas chief financial officer. He pled guilty but has not yet been sentenced. PORTLAND, Ore.U.S. Gillis was the second Aequitas chief financial officer. All three are permanently barred from the securities industry. | Privacy Statement. He also established Aequitass New York Office and directed Aequitass Lux Fund, a Luxembourg-based fund used to solicit international investors. 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. A .gov website belongs to an official government organization in the United States. Brian Mariash, James Lowther and their team will operate as Mariash Lowther Wealth Management in Sarasota, Florida. 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. Cookie Settings/Do Not Sell My Personal Information. 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. | Store He was the British honorary consul to Portland. They agreed to plead guilty and cooperate with the government.. Oliver faces a maximum sentence of 30 years in prison, a $250,000 fine or twice the gross . Irvine, California-based Eric Gallinger is affiliating with LPL through Stratos Wealth Partners. Counsel Present for Plaintiff: Scott Bradford, Ryan Bounds. Learn more about reprints and licensing for this article. Attorneys for the receiver now in charge of Aequitas, have voiced alarm at the share of the insurance money spent by Jesenik. But I think my clients will be thrilled. They've got that too. All rights reserved (About Us). They agreed to plead guilty and cooperate with the government. It is free to register and only takes a minute or two. There was the company that bought bad debt from hospitals for pennies on the dollar and then tried to collect on the debt. Official websites use .gov 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. He argues he needs the money to help defray losses suffered by Aequitas investors. 2023 Advance Local Media LLC. A locked padlock | Recent Lawyer Listings I have really enjoyed working with Seth, Brian and the Cathedral team.. Defendant waived reading of the Information. 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. He worked for Portland banks for much of his career before he was named regional president of Key Bank in 2006. In April, Brian Oliver, Aequitas. The sentencing for former Aequitas Capital executive Brian Oliver has been moved again. This special highlights the best of the fifth annual event which was held in Singapore from November 14-17. Aequitas investors lost about $600 million after the collapse. Oliver also was charged criminally for his conduct and has pled guilty, but has not yet been sentenced. As part of his plea agreement, Gillis has also agreed to pay restitution as determined by the government and ordered by the court. The company's general counsel just quit. Brian Oliver and Olaf Janke, Aequitas chief financial officer before Gillis, pleaded guilty to similar charges. 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. 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. Defendant sworn and examined. There was the commercial lender. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. 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. An official website of the United States government. It entered into a deal to buy student loans from Corinthian, the notorious for-profit college. His attorneys have submitted bills for at least 2.7 million, far more than any other defendant. Brian Rice and Scott Gillis, two of the company's six senior partners, resigned in recent weeks. Between 2011 and 2014, Aequitas purchased more than $561 million in student loan debt, almost all of which was with Corinthian. Brians experience encompasses a variety of positions across commercial banking, investment banking, alternative asset management, and business advisory services. Then Corinthian went bankrupt. 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. Brian and his wife of 30 years live in Aurora, Oregon where they raised their family. 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. Sam Kauffman is MacRitchies attorney. He will be sentenced on August 5, 2019before U.S. District Court Judge Michael W. Mosman. YouTubes privacy policy is available here and YouTubes terms of service is available here. In a divorce settlement filed with the court, it'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. 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. 2 executive Brian Oliver pleaded guilty to the same charges in April. 0. Share sensitive information only on official, secure websites. ) or https:// means youve safely connected to the .gov website. Have a question about Government Services? Among his responsibilities, Rice oversaw the solicitation of investments through registered investment advisors (RIA) and managed Aequitass affiliated RIAs. Secure .gov websites use HTTPS Nelson Scott Gillis, 69, of Lake Oswego, Oregon, pleaded guilty to one count of making a false statement to a bank. 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. Section 203(f) of the Investment Advisers Act of 1940 ("Advisers Act") against Brian A. Oliver ("Oliver" or "Respondent"). All rights reserved (About Us). Jesenik, Rice, and MacRitchie are all on pre-trial release pending a five-week jury trial scheduled to begin on April 3, 2023. 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. On March 16, 2016, pursuant to the Stipulated Interim Order Appointing Receiver, the Receiver was appointed as receiver . Marketing? ORDER Defendant released on previous conditions. PORTLAND, Ore.U.S. 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. He is scheduled to be. 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. Sentencing is set for 8/5/2019 at 9:00AM in Portland before Judge Michael W. Mosman. Attorneys for the District of Oregon. 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. 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. 1000 SW Third Ave Suite 600 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. Attorney Billy J. Williams announced today that Brian A. Oliver,a former owner and executive vicepresident of Aequitas Management, LLC and several other Aequitas . Brian Oliver, Aequitas Capital's longtime No. Community Rules apply to all content you upload or otherwise submit to this site. They've got that too. Rice, former president of Key Bank of Oregon, acknowledged in recent court filings that he is a target in the case. Court finds defendant capable and competent to enter plea. 04/19/2019 13 Plea Agreement as to Brian A. Oliver (kms) (Entered: 04/19/2019) Oliver is the first former Aequitas Capital executive to be criminally charged. Counsel Present for Defendant: Whitney Patrick Boise and Kendra M. Matthews. The Oregonian first reported the criminal charges and guilty plea. Prosecutors claim the Aequitas executives misled company investors about how their money was being used. 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. Brian A. Oliver, age 51, resides in Aurora, Oregon. 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. Counsel Present for the Government: Scott E. Bradford and Ryan W. Bounds. Have a question about Government Services? Seven years ago, it was easy to believe in Aequitas. Ledger was the co-founder of Aequitas, which was then a small New York based company that dealt primarily in commercial paper. Federal prosecutors have already cut guilty plea deals with two former Aequitas executives. (chso). In a separate proceeding, the SEC barred the three from the securities industry. Brian Oliver and Olaf Janke, former senior Aequitas executives, have in recent months cut plea deals with federal prosecutors. | Articles He was even on the board of the Arlington Club. District of Oregon The company's general counsel just quit. Brian has over 30 years experience in providing corporate finance and consulting solutions to small and medium sized businesses. Reset here, 1999 - 2023 citywire.com. Aequitas also had tentacles spread throughout the RIA world. It is being prosecuted by Scott E. Bradford and Ryan W. Bounds, Assistant U.S. 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. An indictment is only an accusation of a crime, and defendants are presumed innocent unless and until proven guilty. Share sensitive information only on official, secure websites. Aequitas collapsed in 2016 owing about $600 million to investors.

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