Brian A. Oliver, age 51, resides in Aurora, Oregon. The court appointed receiver now in charge of whats left of Aequitas opposes Rices and MacRitchies request for access to the insurance money. Have a question about Government Services? 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. Guilty pleas entered as to Counts 1 and 2 of the Information. Irvine, California-based Eric Gallinger is affiliating with LPL through Stratos Wealth Partners. Brian Rice and Andrew MacRitchie left their corporate posts for jobs at Aequitas Capital. | Articles Brian's experience encompasses a variety of positions across commercial banking, investment banking, alternative asset management, and business advisory services. RIA Intel is part of Delinian. 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. There was no more hiding the fact that Aequitas was broke. 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. He argues he needs the money to help defray losses suffered by Aequitas investors. They agreed to plead guilty and cooperate with the government. Brian Oliver and Olaf Janke, Aequitas chief financial officer before Gillis, pleaded guilty to similar charges. Then Corinthian went bankrupt. A native of the United Kingdom, he served as the British honorary consul in Portland for several years. Main Office: 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. A locked padlock All three are permanently barred from the securities industry. 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). Theyve got a team that really loves entrepreneurship and is equipped with different skill sets. Ledger was the co-founder of Aequitas, which was then a small New York based company that dealt primarily in commercial paper. 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. Aequitas also had tentacles spread throughout the RIA world. There are also questions about whether Jesenik and other defendants spent the money appropriately. 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. 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. Gillis was the second Aequitas chief financial officer. On January 26, 2023, a California man who evaded federal authorities for more than two decades after being convicted at trial and who was wanted in District of Oregon for District of Oregon It is believed that since he was ousted from Aequitas, Jesenik has been. brian oliver, aequitas brian oliver, aequitas Home Realizacje i porady Bez kategorii brian oliver, aequitas Defendant advised of rights. Three other former Aequitas executives, including a former Portland bank president and a senior utility executive, were also charged. An indictment is only an accusation of a crime, and defendants are presumed innocent unless and until proven guilty. ORDER granting the Government's oral motion to unseal the case. Section 203(f) of the Investment Advisers Act of 1940 ("Advisers Act") against Brian A. Oliver ("Oliver" or "Respondent"). Aequitas specialized in debt. 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. 2023 RIA Intel, an Institutional Investor Publication. Community Rules apply to all content you upload or otherwise submit to this site. An official website of the United States government. Federal prosecutors have already cut guilty plea deals with two former Aequitas executives. He also established Aequitass New York Office and directed Aequitass Lux Fund, a Luxembourg-based fund used to solicit international investors. Nelson Scott Gillis, 69, of Lake Oswego, Oregon, pleaded guilty to one count of making a false statement to a bank. 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. 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. 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. His attorneys have submitted bills for at least 2.7 million, far more than any other defendant. Brian Oliver, Aequitas Capital's longtime No. 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. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". Counsel Present for Defendant: Whitney Boise, Kendra Matthews. Rice acknowledged in court filings that he's a suspect in the case. Brian Oliver, Aequitas Capital's longtime No. The firm purchased or invested in other financial firms, many of them glorified debt collectors. A locked padlock (2), Outcome: 04/19/2019 9 Order Setting Conditions of Release as to Defendant Brian A. Oliver. Please sign in or register to comment. Arraignment held for Defendant Brian A. Oliver on Counts 1 and 2 of the Information. Official websites use .gov Government summarized charges and terms of plea agreement. Counsel Present for Plaintiff: Scott Bradford, Ryan Bounds. 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? 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. Sentencing is set for 8/5/2019 at 9:00AM in Portland before Judge Michael W. Mosman. 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 Oliver was also charged criminally for his conduct. Investors had been bilked out of hundreds of millions of dollars, the SEC said. Theyve recovered much of that money in a series of civil lawsuits against the professional firms that worked for Aequitas. The new indictments bring to six the number of former Aequitas executives charged with defrauding investors. Prosecutors claim the Aequitas executives misled company investors about how their money was being used. A lock ( 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. He was the British honorary consul to Portland. Brian Oliver and Olaf Janke, former senior Aequitas executives, have in recent months cut plea deals with federal prosecutors. As part of his plea agreement, Gillis has also agreed to pay restitution as determined by the government and ordered by the court. Plus, Jeseniks monthly legal fees approximately quadrupled after he hired new counsel in approximately March 2017. 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. 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. Email USAO-OR. Both Rice and MacRitchie have asked the court for access to Aequitas insurance money to cover their defense costs. 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. It is being prosecuted by Scott E. Bradford and Ryan W. Bounds, Assistant U.S. 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 Brian and his wife of 30 years live in Aurora, Oregon where they raised their family. All rights reserved (About Us). ) or https:// means youve safely connected to the .gov website. Share sensitive information only on official, secure websites. 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. Thom Maher is launching a firm, Maher Wealth Management, in Phoenix. It was the beginning of the end for the high-flying company. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. 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. They are also prohibited from violating the SECs antifraud provisions. They also have people who have helped raise money and sell businesses so they can help with that too. 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. Brian Rice and Scott Gillis, two of the company's six senior partners, resigned in recent weeks. In January 2014, shortly before joining Aequitas, he was named to the Portland board of directors of the Federal Reserve Bank of San Francisco. In April, Brian Oliver, Aequitas. Portland, Oregon 97204 Defendant waived reading of the Information. He will be sentenced on August 5, 2019before U.S. District Court Judge Michael W. Mosman. This case is being investigated by the FBI, IRS Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration. PORTLAND, Ore.U.S. It entered into a deal to buy student loans from Corinthian, the notorious for-profit college. Marketing? It began to default on the interest payments owed its legion of mom and pop investors. A .gov website belongs to an official government organization in the United States. Wealth Management as an industry doesnt understand direct real estate and real estate certainly doesnt understand wealth management, says Realized founder David Wieland. Waiver of indictment signed and accepted by the Court. The Oregonian/OregonLive began investigating Aequitas in 2014, when it linked the firm to accusations of predatory student loans at Corinthian. Former CFO N. Scott Gillis was required to pay a $300,000 civil penalty. Neither were charged when the U.S. Securities and Exchange Commission shut Aequitas down and filed a civil lawsuit in March 2016. 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). More Local News to Love Start today for 50% off Expires 3/6/23. Nevertheless, Papak ruled in favor of Jeseniks request for access to additional insurance funds to cover his defense. Brians experience encompasses a variety of positions across commercial banking, investment banking, alternative asset management, and business advisory services. All three are permanently barred from the securities industry. Get started today before this once in a lifetime opportunity expires. Rice headed Key Bank in Oregon for 12 years. Sam Kauffman is MacRitchies attorney. All Rights Reserved. (Tape #FTR-9B) (gw) (Entered: 04/19/2019) Over the last few years Cathedral has really provided sage advice as weve been growing our green building companies. 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. Aequitas borrowed funds from other financial institutions, including Wells Fargo Bank, N.A., to purchase these trade receivables. Have a question about Government Services? Oliver was originally scheduled to be sentenced on Aug. 5, but the sentencing date was moved to Nov.. Brian has over 30 years experience in providing corporate finance and consulting solutions to small and medium sized businesses. Please E-mail suggested additions, comments and/or corrections to Kent@MoreLaw.Com. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. Subscribe for original insights, commentary and analysis of the issues facing the financial advice community, from the InvestmentNews team. Attorneys for the District of Oregon. Defendant sworn and examined. 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. | Link Errors But prosecutors allege the Aequitas executives lied about the firms financial performance. Rice served as Aequitass executive vice president and president of wealth management. 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. It is being prosecuted by Scott E. Bradford and Ryan W. Bounds, Assistant U.S. 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. John Deere boasted record profits in 2021 and finally struck a deal with striking union workers. Lock They also have people who have helped raise money and sell businesses so they can help with that too.