brian oliver, aequitasbest rock hunting in upper peninsula

He was even on the board of the Arlington Club. District of Oregon | Former Aequitas Senior Executive and Chief 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. | Recent Lawyer Listings Subscribe for original insights, commentary and analysis of the issues facing the financial advice community, from the InvestmentNews team. 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. 2 executive, on Friday pleaded guilty to conspiracy to commit mail and wire fraud and conspiracy to commit money laundering. There was the motorcycle leasing company. The high-interest loans were terrible for students. Share sensitive information only on official, secure websites. 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 1000 SW Third Ave Suite 600 On March 16, 2016, pursuant to the Stipulated Interim Order Appointing Receiver, the Receiver was appointed as receiver . 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. Defendant advised of rights. PORTLAND, Ore.U.S. 1000 SW Third Ave Suite 600 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. Jesenik also must pay a civil penalty of $625,000. A lock ( Aequitas Management, LLC, et al. (Release No. LR-23485; March 11, 2016) The recent filings indicate several additional Aequitas executives, like Rice and MacRitchie, are in harms way. Brian A Oliver, Aequitas Capital Mgmt Inc: Profile and Biography Portland, Oregon 97204 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. If you need help with finances, they've got that covered. All material subject to strictly enforced copyright laws. All three are permanently barred from the securities industry. Thom Maher is launching a firm, Maher Wealth Management, in Phoenix. (Tape #FTR-9B) (gw) (Entered: 04/19/2019) Rice, a longtime Portland banker who eventually became regional president for Key Bank, gave up the big downtown office to join Aequitas in 2014. By that time, it was clear to Aequitas executives the company was in deep financial trouble., Kayser added. If you purchase a product or register for an account through one of the links on our site, we may receive compensation. Aequitas borrowed funds from other financial institutions, including Wells Fargo Bank, N.A., to purchase these trade receivables. Reset here, 1999 - 2023 citywire.com. Brian Oliver, Aequitas Capital's longtime No. Brian Rice and Scott Gillis, two of the company's six senior partners, resigned in recent weeks. Brian Oliver - Senior Advisor & President, Cathedral Finance - Cathedral Consulting | LinkedIn Brian Oliver At Cathedral we help entrepreneurs with momentum build value in their business. Previously, Brian was an Executive VP, Business Development at Alternative Asset Management. By late 2015, Aequitas was suffering one of its periodic cash flow crises. 2023 Advance Local Media LLC. The court appointed receiver now in charge of whats left of Aequitas opposes Rices and MacRitchies request for access to the insurance money. Brian Oliver, Aequitas Capital's longtime No. PDF SEC Complaint: Aequitas Management, LLC; Aequitas Holdings, LLC SEC Posts Notice of Covered Action Regarding Case Against Aequitas Attorneys for the District of Oregon. After graduating from Oregon State University in 1987 with a degree in Finance and minor in Economics, Brian spent the next 10 years in commercial banking with US Bank before embarking on 20 years in the Investment Banking and Alternative Asset Management industry. Aequitas finances were already spiraling down, and the worse they got, the more student debt the firm bought from Corinthian. Aequitas Settles With SEC for $540 Million as Three Top - RIAIntel brian oliver, aequitas brian oliver, aequitas Home Realizacje i porady Bez kategorii brian oliver, aequitas 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. | Privacy Statement. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". 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. Deloitte Is Finally Finished with That Whole Aequitas Investors Lawsuit Then Corinthian went bankrupt. YouTubes privacy policy is available here and YouTubes terms of service is available here. It began to default on the interest payments owed its legion of mom and pop investors. 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. 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. The firm sold more than $300 million worth of private investment notes, mostly through financial advisers. Sentencing materials are due no later than 7/31/2019. 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. Have a question about Government Services? Ledger left the company in 2005 in a highly controversial and public way. Counsel Present for the Government: Scott E. Bradford and Ryan W. Bounds. SEC v. Aequitas Management, LLC; Aequitas Holdings, LLC; Aequitas 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. Luminaries from the downtown business establishment wanted to join the team. Secure .gov websites use HTTPS Both Rice and MacRitchie were high-profile Portland executives before joining Aequitas. Ledger was the co-founder of Aequitas, which was then a small New York based company that dealt primarily in commercial paper. 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. But they made good money for Aequitas and its investors. Brian's experience encompasses a variety of positions across commercial banking, investment banking, alternative asset management, and business advisory services. It is free to register and only takes a minute or two. Portland, Oregon 97204 All rights reserved (About Us). The sentencing for former Aequitas Capital executive Brian Oliver has been moved again. PORTLAND, Ore.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. As U.S. Judge Magistrate Paul Papak noted in an October 2017 ruling, at that point 61 percent of the defense cost payments went to Jeseniks lawyers. [More: Aequitas meltdown underscores the importance of due diligence, caution]. Lock 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 According to a Complaint filed on March 10, 2016 in Oregon federal district court, the SEC has brought claims against Aequitas Management, LLC (CRD# 143780/SEC# 801-68039) and three Aequitas executives, Robert J. Jesenik, Brian A. Oliver, and N. Scott Gillis for defrauding investors and for a breach of fiduciary duties. 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. ORDER granting the Government's oral motion to unseal the case. | Articles In a separate proceeding, the SEC barred the three from the securities industry. On or about January 12, 2015, Aequitas entered into a loan agreement with Wells Fargo to establish a $100 million line of credit. 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. Brian Rice and Andrew MacRitchie left their corporate posts for jobs at Aequitas Capital. Attorneys in Aequitas Capital fraud case spar over Oregon regulator who All rights reserved (About Us). SEC charges advisor over Aequitas conflicts of interest. 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. Signed on 4/19/19 by Magistrate Judge Stacie F. Beckerman. More Local News to Love Start today for 50% off Expires 3/6/23. 2 executive Brian Oliver pleaded guilty to the same charges in April. Its been a long time coming, Kayser said. Plus, three other Aequitas defendants former second-in-command Brian Oliver and N. Scott Gillis and Olaf Janke, former Aequitas chief financial officers have pleaded guilty to fraud and. (2), Outcome: 04/19/2019 9 Order Setting Conditions of Release as to Defendant Brian A. Oliver. With love for the 60/40 portfolio fading, 50/30/20 looks to be the cool new kid on the block. A locked padlock 3 Executives of Aequitas Management LLC Charged for Fraud Sam Kauffman is MacRitchies attorney. As Aequitas grew, its profile in the community also increased. 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). ) or https:// means youve safely connected to the .gov website. ORDER Defendant released on previous conditions. 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. The company's general counsel just quit. Attorneys for the receiver now in charge of Aequitas, have voiced alarm at the share of the insurance money spent by Jesenik. Aequitas Capital No. 2 Brian Oliver pleads guilty to criminal charges Investors had been bilked out of hundreds of millions of dollars, the SEC said. An indictment is only an accusation of a crime, and defendants are presumed innocent unless and until proven guilty. Defunct Aequitas misled investors, cooked books, ran Ponzi - oregonlive Until now, Rice and MacRitchie have faced minimal legal expenses. Community Rules apply to all content you upload or otherwise submit to this site. 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. 2023 RIA Intel, an Institutional Investor Publication. YouTubes privacy policy is available here and YouTubes terms of service is available here. Oliver also was charged criminally for his conduct and has pled guilty, but has not yet been sentenced. Signed on 4/19/2019 by Judge Michael W. Mosman. MacRitchie was ScottishPowers point man in its efforts to buy Pacificorp and served as an executive vice president there. Oliver is the first former Aequitas Capital executive to be criminally charged. An official website of the United States government. One of Aequitas biggest moneymakers disappeared almost overnight. 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. This story was revised on Aug. 21, 2020 to correct some details about Brian Rices professional background. PORTLAND, Ore.U.S. MacRitchie, the former utility executive, was the picture of respectability. Plea Petition and Plea Agreement signed and accepted by the Court. But I think my clients will be thrilled. Youve missed the point, Anxiety over tax refunds on the rise, Bankrate.com study shows, Gensler steps up warnings to money managers. (1) The new indictments bring to six the number of former Aequitas executives charged with defrauding investors. 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. Theyve recovered much of that money in a series of civil lawsuits against the professional firms that worked for Aequitas. It is believed that since he was ousted from Aequitas, Jesenik has been. 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. A .gov website belongs to an official government organization in the United States. Redmond adviser caught in Oregon firm's $600M financial collapse This case is being investigated by the FBI, IRS Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration. Brian received a Bachelor of Science degree from Oregon State University. SECURITIES AND EXCHANGE COMMISSION v. AEQUITAS MANAGEMENT, LLC - Leagle Learn more about reprints and licensing for this article. Oliver was a partial owner and Executive Vice President of Aequitas Management, LLC ("Aequitas Management . Official websites use .gov Bob Jesenik has not been criminally charged. There was the commercial lender. Have a question about Government Services? He was the British honorary consul to Portland. Defendant waived reading of the Information. A lock ( Over the last few years Cathedral has really provided sage advice as weve been growing our green building companies. Rice headed Key Bank in Oregon for 12 years. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. | Editor | Advertising This case is being investigated by the FBI, IRS Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration. 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. (chso). Have a question about Government Services? But much of that money has already been spent. An official website of the United States government. Investment adviser: Aequitas lied to investors, hid - oregonlive But the defendants have already spent more than $10 million on legal costs, exhausting the first two policies. The final judgments prohibit Jesenik, Oliver, and Gillis from serving as officers or directors of any public company. If you missed the last issue of InvestmentNews, you can access it here. 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. Co-founders Bob Jesenik and Brian Oliver had participated in too many sketchy deals for sophisticated Oregon investors to feel comfortable with them. Plus, Jeseniks monthly legal fees approximately quadrupled after he hired new counsel in approximately March 2017. Oliver faces a maximum sentence of 30 years in prison, a $250,000 fine or twice the gross . Brian Oliver - Senior Business Advising Specialist - Cathedral Consulting Bob Jesenik, three other former Aequitas executives - Oregonlive 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. The Oregonian/OregonLive began investigating Aequitas in 2014, when it linked the firm to accusations of predatory student loans at Corinthian. Another was a utility executive who helped change Portlands business landscape. Rueben Iniguez, a lawyer in the federal defenders office in Portland, is representing Jesenik. 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. 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. By the time he left, he was also in charge of Key Banks operations in Washington and Alaska. He pled guilty but has not yet been sentenced. Owler Reports - KCC: Aequitas Capital No. 2 Brian Oliver pleads guilty Federal regulators claimed that Aequitas executives misled investors for years about the companys true financial condition. Rice, former president of Key Bank of Oregon, acknowledged in recent court filings that he is a target in the case. But prosecutors allege the Aequitas executives lied about the firms financial performance. 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. MacRitchie oversaw all Aequitas accounting, legal, and audit functions, and participated in fundraising. (See separate order.) Theyve got a team that really loves entrepreneurship and is equipped with different skill sets. Counsel Present for Defendant: Whitney Boise, Kendra Matthews. Official websites use .gov Brian Oliver and Olaf Janke, former senior Aequitas executives, have in recent months cut plea deals with federal prosecutors. 2023 Advance Local Media LLC. 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. Court finds guilty pleas to be knowing and voluntary. 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. Irvine, California-based Eric Gallinger is affiliating with LPL through Stratos Wealth Partners. II. 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. | Sign In, Verdict Corrections Rice acknowledged in court filings that he's a suspect in the case. Former Aequitas CEO testifies in divorce trial 04/19/2019 12 Minutes of Proceedings: Entry of Plea Hearing held before Judge Michael W. Mosman for Defendant Brian A. Oliver. SEC files Complaint against Aequitas Management - Fishman Haygood They've got that too. Lock MacRitchie was the companys executive vice president and chief compliance officer. PORTLAND, Ore.U.S. 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. Brian has over 30 years experience in providing corporate finance and consulting solutions to small and medium sized businesses. Email USAO-OR. Brian Oliver - Technical Specialist - BCX | ZoomInfo Oliver faces a maximum sentence of 30 years in prison, a $250,000 fine or twice the gross monetary gains or losses resulting from his crimes, and three years supervised release. Worse, regulators from the U.S. Consumer Financial Protection Bureau and the state Department of Justice began taking a hard look at the colleges agreement with Aequitas. 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. ) or https:// means youve safely connected to the .gov website. A lock ( 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. 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.. It entered into a deal to buy student loans from Corinthian, the notorious for-profit college. All three are permanently barred from the securities industry. The Oregon firm thought it had hit the motherlode when it got into the college debt business. Please read our Terms and Conditions, Modern Slavery Act Transparency Statement, and Privacy Policy before using the site. Gillis was the second Aequitas chief financial officer. 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. 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 Add Andrew MacRitchie and Brian Rice, second and third from right, to the list of former Aequitas executives now facing substantial legal defense costs. Nevertheless, Papak ruled in favor of Jeseniks request for access to additional insurance funds to cover his defense. It is being prosecuted by Scott E. Bradford and Ryan W. Bounds, Assistant U.S. 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. (Court Reporter Ryan White) (kms) (Entered: 04/19/2019) In January 2014, shortly before joining Aequitas, he was named to the Portland board of directors of the Federal Reserve Bank of San Francisco. More Local News to Love Start today for 50% off Expires 3/6/23. Aequitas execs deny wrongdoing, cite 'corporate optimism' - oregonlive ) or https:// means youve safely connected to the .gov website. Gillis was the second Aequitas chief financial officer. He worked for Portland banks for much of his career before he was named regional president of Key Bank in 2006. There was the company that bought bad debt from hospitals for pennies on the dollar and then tried to collect on the debt. As such, he was responsible for the development and implementation of risk management and compliance processes and procedures. Defendant advised of rights. A native of the United Kingdom, he served as the British honorary consul in Portland for several years. They hurt a whole lot of people.. A .gov website belongs to an official government organization in the United States. All Rights Reserved. This case is being investigated by the FBI, IRS-Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration. Aequitas collapsed in 2016 owing about $600 million to investors. 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 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. Between 2011 and 2014, Aequitas purchased more than $561 million in student loan debt, almost all of which was with Corinthian.

Cooper Kupp Family, Vonbee Grapefruit And Honey Tea Recipes, Why Does The Moon Disappear Once A Month, Psql Server Does Not Support Ssl, Which Of The Following Statements Is True About Correctional Officers?, Articles B