brian oliver, aequitas

Portland, Oregon 97204 Its been a long time coming, Kayser said. Brian Mariash, James Lowther and their team will operate as Mariash Lowther Wealth Management in Sarasota, Florida. Brian has over 30 years experience in providing corporate finance and consulting solutions to small and medium sized businesses. He is scheduled to be. 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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. Brian Rice and Scott Gillis, two of the company's six senior partners, resigned in recent weeks. Despite that advice, on or about January 15, 2016, Gillis signed and, with others, submitted to Wells Fargo an advance notice, requesting that Wells Fargo advance $4.2 million to Aequitas with a false certification that Aequitas was not confronting a potential event of default. 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. Sam Kauffman is MacRitchies attorney. Timothy Laniers firm in Neptune Beach, Florida, focuses on serving doctors and health care executives. All three are permanently barred from the securities industry. Brian Oliver and Olaf Janke, Aequitas chief financial officer before Gillis, pleaded guilty to similar charges. Three other former Aequitas executives, including a former Portland bank president and a senior utility executive, were also charged. But they made good money for Aequitas and its investors. 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.. 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? More Local News to Love Start today for 50% off Expires 3/6/23. Waiver of indictment signed and accepted by the Court. 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. 2023 Advance Local Media LLC. Please sign in or register to comment. 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. Portland, Oregon 97204 Marketing? An indictment is only an accusation of a crime, and defendants are presumed innocent unless and until proven guilty. All material subject to strictly enforced copyright laws. They also have people who have helped raise money and sell businesses so they can help with that too. 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. 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. 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. The third policy is now being consumed even though the criminal case is just getting underway and the pool of potential defendants is expanding. Neither were charged when the U.S. Securities and Exchange Commission shut Aequitas down and filed a civil lawsuit in March 2016. 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. The Oregon firm thought it had hit the motherlode when it got into the college debt business. Main Office: He is scheduled to be sentenced on Aug. 5. As Aequitas grew, its profile in the community also increased. But it appears they are far from done. In April, Brian Oliver, Aequitas. As part of the final consent judgment, the defendants are prohibited from soliciting anyone to purchase or sell a security and prohibiting them from participating in the issuance, offer, or sale of any security of an entity they control, the SECs release stated. The Aequitas entities, which are in receivership, will have to pay $540 million in disgorgement and interest as part of the final judgment. Recently, MacRitchie has incurred defense costs in connection with the DOJ investigation and expects to continue to incur Defense Costs in that matter, his lawyer said in a court filing. 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. The current Aequitas Capital Management lawsuit was brought on by the heirs of Matthew Ledger. Over the last few years Cathedral has really provided sage advice as weve been growing our green building companies. The court also required Robert J. Jesenik, the firm's former CEO, and Brian A. Oliver,. 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? Share sensitive information only on official, secure websites. 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. They agreed to plead guilty and cooperate with the government. I have really enjoyed working with Seth, Brian and the Cathedral team.. The company's general counsel just quit. Aequitas investors lost about $600 million after the collapse. Over the last few years Cathedral has really provided sage advice as weve been growing our green building companies. 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. 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. Its not just the amount of insurance money that went to Jesenik that concerns the receiver. Longtime Aequitas No. 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. A locked padlock Plus, Jeseniks monthly legal fees approximately quadrupled after he hired new counsel in approximately March 2017. Aequitas finances were already spiraling down, and the worse they got, the more student debt the firm bought from Corinthian. The Aequitas entities, Jesenik, and Gillis consented to the entry of final judgment without admitting or denying the SECs allegations. Aequitas collapsed in 2016 owing about $600 million to investors. Brian Rice and Scott Gillis, two of the company's six senior partners, resigned in recent weeks. 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 . 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. It was the beginning of the end for the high-flying company. 0. 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. Chris Kayser, a Portland lawyer who represented 120 people who had invested in Aequitas, saw firsthand how unsophisticated investors were taken advantage of. Defendant advised of rights. Federal regulators claimed that Aequitas executives misled investors for years about the companys true financial condition. Sentencing is set for 8/5/2019 at 9:00AM in Portland before Judge Michael W. Mosman. I have really enjoyed working with Seth, Brian and the Cathedral team. The sentencing for former Aequitas Capital executive Brian Oliver has been moved again. That has changed as the criminal case nears the indictment stage. Co-founders Bob Jesenik and Brian Oliver had participated in too many sketchy deals for sophisticated Oregon investors to feel comfortable with them. 04/19/2019 12 Minutes of Proceedings: Entry of Plea Hearing held before Judge Michael W. Mosman for Defendant Brian A. Oliver. 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. 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. He was even on the board of the Arlington Club. 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. Counsel Present for the Government: Scott E. Bradford and Ryan W. Bounds. Five of the six senior Aequitas executives have been charged with federal crimes or have pleaded guility. It began to default on the interest payments owed its legion of mom and pop investors. Then Corinthian went bankrupt. Aequitas was allegedly a fraud on top of another fraud Corinthian Colleges, the scandal ridden for-profit college that went bankrupt in 2015. Official websites use .gov Aequitas also had tentacles spread throughout the RIA world. But much of that money has already been spent. Nelson Scott Gillis, 69, of Lake Oswego, Oregon, pleaded guilty to one count of making a false statement to a bank. 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. 2 executive, on Friday pleaded guilty to conspiracy to commit mail and wire fraud and conspiracy to commit money laundering. 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. Government summarized charges and terms of plea agreement. Brians experience encompasses a variety of positions across commercial banking, investment banking, alternative asset management, and business advisory services. Attorneys for the District of Oregon. Seven years ago, it was easy to believe in Aequitas. 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. Please E-mail suggested additions, comments and/or corrections to Kent@MoreLaw.Com. 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. 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.

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