brian oliver, aequitas

The court also required Robert J. Jesenik, the firms former CEO, and Brian A. Oliver, its former executive vice president, to pay $940,806 and $235,928, respectively, in disgorgement and interest. He is scheduled to be. ) or https:// means youve safely connected to the .gov website. They also have people who have helped raise money and sell businesses so they can help with that too. Wealth Management as an industry doesnt understand direct real estate and real estate certainly doesnt understand wealth management, says Realized founder David Wieland. Neither were charged when the U.S. Securities and Exchange Commission shut Aequitas down and filed a civil lawsuit in March 2016. | Editor 2023 RIA Intel, an Institutional Investor Publication. 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. 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. If you purchase a product or register for an account through one of the links on our site, we may receive compensation. 2023 Advance Local Media LLC. The company's general counsel just quit. Prosecutors claim the Aequitas executives misled company investors about how their money was being used. Advisors providing advice on cryptocurrency-related assets should do so with caution, according to a new report by the CFP Board. Brian Oliver and Olaf Janke, Aequitas chief financial officer before Gillis, pleaded guilty to similar charges. 1000 SW Third Ave Suite 600 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). Brian Oliver, Aequitas Capital's longtime No. The company opened slick new offices in New York City. 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. brian oliver, aequitas brian oliver, aequitas Home Realizacje i porady Bez kategorii brian oliver, aequitas YouTubes privacy policy is available here and YouTubes terms of service is available here. 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. 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. John Deere boasted record profits in 2021 and finally struck a deal with striking union workers. 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. By the time he left, he was also in charge of Key Banks operations in Washington and Alaska. Aequitas collapsed in 2016 owing about $600 million to investors. 2023 InvestmentNews LLC. Among his responsibilities, Rice oversaw the solicitation of investments through registered investment advisors (RIA) and managed Aequitass affiliated RIAs. 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. 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. ) or https:// means youve safely connected to the .gov website. They've got that too. The court also required Robert J. Jesenik, the firm's former CEO, and Brian A. Oliver,. Brian has been a Senior Advisor with Cathedral Consulting since 2017. Brian A. Oliver, age 51, resides in Aurora, Oregon. 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. Oliver is the first former Aequitas Capital executive to be criminally charged. 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. Brian Oliver and Olaf Janke, former senior Aequitas executives, have in recent months cut plea deals with federal prosecutors. Then Corinthian went bankrupt. | Sign In, Verdict Corrections (Tape #FTR-9B) (gw) (Entered: 04/19/2019) Lock Official websites use .gov Bob Jesenik has not been criminally charged. The recent filings indicate several additional Aequitas executives, like Rice and MacRitchie, are in harms way. A native of the United Kingdom, he served as the British honorary consul in Portland for several years. 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.. 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. There was the commercial lender. MacRitchie was ScottishPowers point man in its efforts to buy Pacificorp and served as an executive vice president there. This case is being investigated by the FBI, IRS-Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration. Federal prosecutors have already cut guilty plea deals with two former Aequitas executives. Counsel Present for the Government: Scott E. Bradford and Ryan W. Bounds. 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. Please read our Terms and Conditions, Modern Slavery Act Transparency Statement, and Privacy Policy before using the site. 2 executive, on Friday pleaded guilty to conspiracy to commit mail and wire fraud and conspiracy to commit money laundering. Both Rice and MacRitchie have asked the court for access to Aequitas insurance money to cover their defense costs. The third policy is now being consumed even though the criminal case is just getting underway and the pool of potential defendants is expanding. By late 2015, Aequitas was suffering one of its periodic cash flow crises. 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. Previously, Brian was an Executive VP, Business Development at Alternative Asset Management. Secure .gov websites use HTTPS Community Rules apply to all content you upload or otherwise submit to this site. Another was a utility executive who helped change Portlands business landscape. Subsequent reports detailed Aequitas default on its debt, the resulting panic among investors, the secret conflicts, and the firms strange cultural mashup -- part Wall Street investment bank, part frat party, part Bible class. 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. Share sensitive information only on official, secure websites. 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. [More: Aequitas meltdown underscores the importance of due diligence, caution]. 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). Probation. Brian Oliver and Olaf Janke, former senior Aequitas executives, have in recent months cut plea deals with federal prosecutors. 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. Have a question about Government Services? They hurt a whole lot of people.. Brians experience encompasses a variety of positions across commercial banking, investment banking, alternative asset management, and business advisory services. 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! 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 locked padlock 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. Investors had been bilked out of hundreds of millions of dollars, the SEC said. According to court documents, Aequitas created and operated investment funds that purchased trade receivables in education, health care, transportation, and other consumer credit areas. Thom Maher is launching a firm, Maher Wealth Management, in Phoenix. This story was revised on Aug. 21, 2020 to correct some details about Brian Rices professional background. A locked padlock An official website of the United States government. 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 Accounting giant Deloitte, stock trader T.D. 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. Reset here, 1999 - 2023 citywire.com. The firm sold more than $300 million worth of private investment notes, mostly through financial advisers. Jesenik, Rice, and MacRitchie are all on pre-trial release pending a five-week jury trial scheduled to begin on April 3, 2023. In a separate proceeding, the SEC barred the three from the securities industry. Longtime Aequitas No. Portland, Oregon 97204 They agreed to plead guilty and cooperate with the government.. Theyve got a team that really loves entrepreneurship and is equipped with different skill sets. 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. All rights reserved (About Us). Much of the cash went to make the payments owed to other investors. Sentencing is set for 8/5/2019 at 9:00AM in Portland before Judge Michael W. Mosman. 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. All three are permanently barred from the securities industry. Learn more about reprints and licensing for this article. Jesenik also must pay a civil penalty of $625,000. Brian and his wife of 30 years live in Aurora, Oregon where they raised their family. With love for the 60/40 portfolio fading, 50/30/20 looks to be the cool new kid on the block. 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 . A .gov website belongs to an official government organization in the United States. If you need help with finances, they've got that covered. Nelson Scott Gillis, 69, of Lake Oswego, Oregon, pleaded guilty to one count of making a false statement to a bank. Please E-mail suggested additions, comments and/or corrections to Kent@MoreLaw.Com. Now both have been sucked into the criminal fraud investigation of the collapsed firm. 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. Rice, former president of Key Bank of Oregon, acknowledged in recent court filings that he is a target in the case. Over the last few years Cathedral has really provided sage advice as weve been growing our green building companies. Rice acknowledged in court filings that he's a suspect in the case. Irvine, California-based Eric Gallinger is affiliating with LPL through Stratos Wealth Partners. Scott Bradford is the lead prosecutor on the case. Section 203(f) of the Investment Advisers Act of 1940 ("Advisers Act") against Brian A. Oliver ("Oliver" or "Respondent"). RIA Intel is part of Delinian. 2 executive Brian Oliver pleaded guilty to the same charges in April. Have a question about Government Services? 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 Oregonian/OregonLive began investigating Aequitas in 2014, when it linked the firm to accusations of predatory student loans at Corinthian. Aequitas borrowed funds from other financial institutions, including Wells Fargo Bank, N.A., to purchase these trade receivables. 18:1957 CONSPIRACY TO COMMIT MONEY LAUNDERING The company had three policies each for $5 million of coverage. 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. For 23 years, Brian Oliver was the classic second-in-command at Aequitas Management LLC, the earnest, low-key straight arrow to the company's colorful alpha-dog CEO Bob Jesenik. He declined to comment. A lock ( Co-founders Bob Jesenik and Brian Oliver had participated in too many sketchy deals for sophisticated Oregon investors to feel comfortable with them. 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. Youve missed the point, Anxiety over tax refunds on the rise, Bankrate.com study shows, Gensler steps up warnings to money managers. An official website of the United States government. Email USAO-OR. SEC charges advisor over Aequitas conflicts of interest. 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 federal court in Oregon entered final judgments against Aequitas Management requiring the firms receiver to pay $453 million in disgorgement. 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. Defendant proceeds as named. It is free to register and only takes a minute or two. President, Cathedral Finance|Senior Advisor. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". Attorneys for the District of Oregon. 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 Plaintiff: Scott Bradford, Ryan Bounds. A .gov website belongs to an official government organization in the United States. The new indictments bring to six the number of former Aequitas executives charged with defrauding investors. It entered into a deal to buy student loans from Corinthian, the notorious for-profit college. He is scheduled to be sentenced on Aug. 5. It was actually a giant Ponzi scheme, they said, in which the company relied on money from new investors to repay the old. If you need help with finances, they've got that covered. It began to default on the interest payments owed its legion of mom and pop investors. But much of that money has already been spent. Brian A. Oliver, a former owner and executive vice president of Aequitas Management, LLC and several other Aequitas-related companies pleaded guilty to conspiring to commit mail and wire fraud and money laundering. They also have people who have helped raise money and sell businesses so they can help with that too. Marketing? All rights reserved (About Us). Brian Mariash, James Lowther and their team will operate as Mariash Lowther Wealth Management in Sarasota, Florida. The current Aequitas Capital Management lawsuit was brought on by the heirs of Matthew Ledger. Portland, Oregon 97204 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.

Craigslist Los Angeles Labor Jobs, How To French Braid Short Hair Easy, Steve Berger Obituary, Echo Lake Incinerator Death, Articles B