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
Thom Maher is launching a firm, Maher Wealth Management, in Phoenix. MacRitchie, the former utility executive, was the picture of respectability. All Rights Reserved. It entered into a deal to buy student loans from Corinthian, the notorious for-profit college. The third policy is now being consumed even though the criminal case is just getting underway and the pool of potential defendants is expanding. Mitsubishi Signs $1.9b Commuter Rail Deal With Manila: Nikkei, AllianceBernstein Wins China Approval to Set Up Mutual Fund Unit, Sorry, Fed, Most US Mortgage Rates Were Locked in During Pandemic Lows, Fed Says MoreRate Hikes Are Needed to Curb Inflation, US Service Sector Expands More Than Forecast Suggesting Hiring Success, VW Will Build a $2 Billion Electric Truck and SUV Plant in South Carolina, Saudi Wealth Fund in Talks to Buy Rocco Forte Hotels Stake, China E-Commerce Giant JD Set for $1.4 Billion Discount Spree, SoftBanks Son to Join Modi at Oyo Founders Wedding Gala, US-Sanctioned Huawei Makes a Show of Force at Mobile Conference, Hong Kong Court Convicts Activists Behind Tiananmen Vigil, Bidens About-Face on DC Crime Bill Shows Democrats on Defensive, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, NYC TikTok Dating Diary Chronicles Love in the Time of Inflation, Tom Sizemore, 'Saving Private Ryan' actor, dies at 61, AP Says, The Exhibit Reality TV Show PittingArtist Against ArtistIs No Masterpiece, Video Roundup: Opinions Must-See Footage of the Week, How Democrats Got Away From Third Way Politics, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Biden Gives Medal of Honor to Trailblazing Special Forces Member, Panic Over Metals for EVs Goes All the Way to Automakers C-Suites, Rivian Tells Staff EV Output May Be 24% More Than Forecast, What Do You Want to See in a Covid Memorial? ORDER granting the Government's oral motion to unseal the case. From June 2014 through February 2016, the former executives 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. Ameritrade and big law firms like Sidley Austin gave the local operation a sheen of legitimacy. (1) 2 executive Brian Oliver pleaded guilty to the same charges in April. Neither were charged when the U.S. Securities and Exchange Commission shut Aequitas down and filed a civil lawsuit in March 2016. ) or https:// means youve safely connected to the .gov website. 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
Gillis faces a maximum sentence of 30 years in prison, an $8.4 million fine, and five years supervised release. Investment adviser: Aequitas lied to investors | The Seattle Times Nevertheless, Papak ruled in favor of Jeseniks request for access to additional insurance funds to cover his defense. Brian A. Oliver, age 51, resides in Aurora, Oregon. 1000 SW Third Ave Suite 600
Six months later, on or about June 30, 2015, Gillis signed an amended loan agreement with Wells Fargo on Aequitass behalf. Owler Reports - KCC: Aequitas Capital No. 2 Brian Oliver pleads guilty 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. Its not just the amount of insurance money that went to Jesenik that concerns the receiver. 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. Brian Rice and Scott Gillis, two of the company's six senior partners, resigned in recent weeks. There was the motorcycle leasing company. 2023 Advance Local Media LLC. A lock ( A .gov website belongs to an official government organization in the United States. John Deere boasted record profits in 2021 and finally struck a deal with striking union workers. Plus, Jeseniks monthly legal fees approximately quadrupled after he hired new counsel in approximately March 2017. That has changed as the criminal case nears the indictment stage. 2023 Advance Local Media LLC. But the defendants have already spent more than $10 million on legal costs, exhausting the first two policies. 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). Investors had been bilked out of hundreds of millions of dollars, the SEC 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. Investors agree to $234.6M in settlements in Aequitas was - Portland The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. He will be sentenced on August 5, 2019before U.S. District Court Judge Michael W. Mosman. Brian Mariash, James Lowther and their team will operate as Mariash Lowther Wealth Management in Sarasota, Florida. Plea Petition and Plea Agreement signed and accepted by the Court. Chris Kayser, a Portland lawyer who represented 120 people who had invested in Aequitas, saw firsthand how unsophisticated investors were taken advantage of. 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. Learn more about reprints and licensing for this article. Bob Jesenik has not been criminally charged. 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. 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. 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 anticipation of the institution of these proceedings, Respondent has submitted an Offer . PORTLAND, Ore.U.S. Main Office:
An official website of the United States government. 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. Lock Other funds went to pay their salaries. 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. 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. Sentencing is set for 8/5/2019 at 9:00AM in Portland before Judge Michael W. Mosman. He argues he needs the money to help defray losses suffered by Aequitas investors. All three are permanently barred from the securities industry. PORTLAND, Ore.U.S. 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. Accounting giant Deloitte, stock trader T.D. Re: United States of America v. Brian A. Oliver - MoreLaw District of Oregon
They both opted not to talk. Waiver of indictment signed and accepted by the Court. Timothy Laniers firm in Neptune Beach, Florida, focuses on serving doctors and health care executives. Defunct Aequitas misled investors, cooked books, ran Ponzi - oregonlive The Oregonian first reported the criminal charges and guilty plea. MacRitchie was the companys executive vice president and chief compliance officer. 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. The firm sold more than $300 million worth of private investment notes, mostly through financial advisers. 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. Oliver was originally scheduled to be sentenced on Aug. 5, but the sentencing date was moved to Nov.. Official websites use .gov YouTubes privacy policy is available here and YouTubes terms of service is available here. On March 16, 2016, pursuant to the Stipulated Interim Order Appointing Receiver, the Receiver was appointed as receiver . Bob Jesenik and Brian Oliver, the long-time chief executive and second-in-command at the Lake Oswego financial firm, said any misstatements they may have made to investors were simply. 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. (See separate order.) Share sensitive information only on official, secure websites. Bob Jesenik, the co-founder and face of the defunct Lake Oswego investment firm Aequitas Management, was indicted Tuesday on charges he defrauded hundreds of its former clients. Theyve recovered much of that money in a series of civil lawsuits against the professional firms that worked for Aequitas. It was the beginning of the end for the high-flying company. 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.
In a divorce settlement filed with the court, it's. A locked padlock Attorneys for the receiver now in charge of Aequitas, have voiced alarm at the share of the insurance money spent by Jesenik. [More: Aequitas meltdown underscores the importance of due diligence, caution]. Brian and his wife of 30 years live in Aurora, Oregon where they raised their family. 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. Share sensitive information only on official, secure websites. Brian Oliver and Olaf Janke, Aequitas chief financial officer before Gillis, pleaded guilty to similar charges. Now both have been sucked into the criminal fraud investigation of the collapsed firm. District of Oregon | Former Aequitas Senior Executive and Chief The new indictments bring to six the number of former Aequitas executives charged with defrauding investors. 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. Gillis was the second Aequitas chief financial officer. 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. | Privacy Statement. | Recent Lawyer Listings All material subject to strictly enforced copyright laws. Secure .gov websites use HTTPS He was even on the board of the Arlington Club. Marketing? 0. Former Aequitas CEO and Senior Executives Indicted in Fraud and Money Luminaries from the downtown business establishment wanted to join the team. It was actually a giant Ponzi scheme, they said, in which the company relied on money from new investors to repay the old. 04/19/2019 12 Minutes of Proceedings: Entry of Plea Hearing held before Judge Michael W. Mosman for Defendant Brian A. Oliver. Attorneys for the District of Oregon. 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. Please sign in or register to comment. Attorney Billy J. Williams announced today that Brian A. Oliver,a former owner and executive vicepresident of Aequitas Management, LLC and several other Aequitas . 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. ORDER Defendant released on previous conditions. A locked padlock Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". 2 executive, on Friday pleaded guilty to conspiracy to commit mail and wire fraud and conspiracy to commit money laundering. A .gov website belongs to an official government organization in the United States. 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. Share sensitive information only on official, secure websites. 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? 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 . Between 2011 and 2014, Aequitas purchased more than $561 million in student loan debt, almost all of which was with Corinthian. Rice, a longtime Portland banker who eventually became regional president for Key Bank, gave up the big downtown office to join Aequitas in 2014. Another was a utility executive who helped change Portlands business landscape. On or about January 12, 2015, Aequitas entered into a loan agreement with Wells Fargo to establish a $100 million line of credit. Defendant waived reading of the Information. Ledger left the company in 2005 in a highly controversial and public way. Brian Oliver - Senior Business Advising Specialist - Cathedral Consulting 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. Main Office:
He is scheduled to be sentenced on Aug. 5. It is being prosecuted by Scott E. Bradford and Ryan W. Bounds, Assistant U.S. Theyve got a team that really loves entrepreneurship and is equipped with different skill sets. A locked padlock Oliver was also charged criminally for his conduct. Attorneys for the District of Oregon. Brian Rice and Andrew MacRitchie left their corporate posts for jobs at Aequitas Capital. ORDER Presentence Report to be prepared by U.S. Brian's experience encompasses a variety of positions across commercial banking, investment banking, alternative asset management, and business advisory services. | Advertising 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. Jesenik, Rice, and MacRitchie are all on pre-trial release pending a five-week jury trial scheduled to begin on April 3, 2023. Get started today before this once in a lifetime opportunity expires. This case is being investigated by the FBI, IRS-Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. He pled guilty but has not yet been sentenced. With love for the 60/40 portfolio fading, 50/30/20 looks to be the cool new kid on the block. 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. Aequitas collapsed in 2016 owing about $600 million to investors. He also established Aequitass New York Office and directed Aequitass Lux Fund, a Luxembourg-based fund used to solicit international 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. 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. It is being prosecuted by Scott E. Bradford and Ryan W. Bounds, Assistant U.S. Brian A Oliver is Exec VP & Pres:Financial Svcs at Aequitas Capital Mgmt Inc. See Brian A Oliver's compensation, career history, education, & memberships. ) or https:// means youve safely connected to the .gov website. Government summarized charges and terms of plea agreement. The company's general counsel just quit. In reporting on the Aequitas claim, a local publication, The Oregonian, wrote: "Aequitas never gained the local reputation for integrity and savvy that its executives longed for. 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. 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. Rice acknowledged in court filings that he's a suspect in the case. The company's general counsel just quit. Rice, former president of Key Bank of Oregon, acknowledged in recent court filings that he is a target in the case. 1000 SW Third Ave Suite 600
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. Over the last few years Cathedral has really provided sage advice as weve been growing our green building companies. 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. Gillis was the second Aequitas chief financial officer. One of Aequitas biggest moneymakers disappeared almost overnight. | Sign In, Verdict Corrections 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. As part of his plea agreement, Gillis has also agreed to pay restitution as determined by the government and ordered by the court. | Articles II. Some money from new investors was allegedly used to pay earlier investors Brian has over 30 years experience in providing corporate finance and consulting solutions to small and medium sized businesses. Among his responsibilities, Rice oversaw the solicitation of investments through registered investment advisors (RIA) and managed Aequitass affiliated RIAs. Email USAO-OR. The recent filings indicate several additional Aequitas executives, like Rice and MacRitchie, are in harms way. 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. 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). 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. 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). But they made good money for Aequitas and its investors. PORTLAND, Ore.U.S. Five of the six senior Aequitas executives have been charged with federal crimes or have pleaded guility. Defendant advised of rights. 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 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.. Community Rules apply to all content you upload or otherwise submit to this site. All rights reserved (About Us). Sentencing materials are due no later than 7/31/2019. They've got that too. YouTubes privacy policy is available here and YouTubes terms of service is available here. Cookie Settings/Do Not Sell My Personal Information. | Editor Have a question about Government Services? Aequitas finances were already spiraling down, and the worse they got, the more student debt the firm bought from Corinthian. In a separate administrative proceeding, Jesenik, Oliver, and Gillis were barred from association with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical ratings organization, the SEC said. District of Oregon | Former Aequitas Owner and Chief Financial Officer Mike Esler, another attorney for Aequitas investors, credited federal prosecutors for sticking with an extremely complex case all the way to the indictment of Aequitas leader Jesenik. The company's general counsel just quit. 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. Investment adviser: Aequitas lied to investors, hid - oregonlive Lock 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. Official websites use .gov Irvine, California-based Eric Gallinger is affiliating with LPL through Stratos Wealth Partners. Aequitas Capital No. 2 Brian Oliver pleads guilty to criminal charges 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.