Official websites use .gov He committed suicide in an attempt to hide . As Aequitas grew, its profile in the community also increased. (2), Outcome: 04/19/2019 9 Order Setting Conditions of Release as to Defendant Brian A. Oliver. 13. Government summarized charges and terms of plea agreement. Rice included in his court filings a copy of an April 23 letter from the U.S. Attorneys office in Portland informing him that you are a subject of a federal criminal investigation concerning fraud that occurred at Aequitas.. Counsel Present for the Government: Scott E. Bradford and Ryan W. Bounds. 2 executive Brian Oliver pleaded guilty to the same charges in April. brian oliver, aequitas He was even on the board of the Arlington Club. Sentencing for No. 2 Aequitas executive Brian Oliver moved to February Brian Mariash, James Lowther and their team will operate as Mariash Lowther Wealth Management in Sarasota, Florida. 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. Brian A Oliver, Aequitas Capital Mgmt Inc: Profile and Biography A lock ( The firm sold more than $300 million worth of private investment notes, mostly through financial advisers. Between 2011 and 2014, Aequitas purchased more than $561 million in student loan debt, almost all of which was with Corinthian. A .gov website belongs to an official government organization in the United States. 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). 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. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. Attorneys for the receiver now in charge of Aequitas, have voiced alarm at the share of the insurance money spent by Jesenik. 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. 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. Jesenik, Rice, and MacRitchie are all on pre-trial release pending a five-week jury trial scheduled to begin on April 3, 2023. 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. Jesenik will have to pay $1.57 million in disgorgement, interest and penalties, while Oliver will pay $235,928 in disgorgement and interest, and Gillis will pay a $300,000 civil penalty. According to court documents, Aequitas created and operated investment funds that purchased trade receivables in education, health care, transportation, and other consumer credit areas. Prosecutors claim the Aequitas executives misled company investors about how their money was being used. The company's general counsel just quit. It is being prosecuted by Ryan W. Bounds, Christopher Cardani and Siddharth Dadhich, Assistant U.S. 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. Brian has been a Senior Advisor with Cathedral Consulting since 2017. That has changed as the criminal case nears the indictment stage. 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? PDF Former Aequitas Owner and Executive Vice President Pleads Guilty - DOL SEC charges advisor over Aequitas conflicts of interest. Aequitas Management, LLC, et al. (Release No. LR-23485; March 11, 2016) The company's general counsel just quit. The firm purchased or invested in other financial firms, many of them glorified debt collectors. Rice, former president of Key Bank of Oregon, acknowledged in recent court filings that he is a target in the case. 2 executive, on Friday pleaded guilty to conspiracy to commit mail and wire fraud and conspiracy to commit money laundering. ORDER Presentence Report to be prepared by 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 Official websites use .gov PORTLAND, Ore.U.S. (Entered: 04/19/2019) Plus, Jeseniks monthly legal fees approximately quadrupled after he hired new counsel in approximately March 2017. Investment adviser: Aequitas lied to investors, hid - oregonlive Guilty pleas entered as to Counts 1 and 2 of the Information. (Tape #FTR-9B) (gw) (Entered: 04/19/2019) 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. Aequitas Capital No. 2 Brian Oliver pleads guilty to criminal charges Timothy Laniers firm in Neptune Beach, Florida, focuses on serving doctors and health care executives. The court also required Robert J. Jesenik, the firm's former CEO, and Brian A. Oliver,. Aequitas specialized in debt. 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. PORTLAND, Ore.U.S. Ameritrade and big law firms like Sidley Austin gave the local operation a sheen of legitimacy. 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. 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. His attorneys have submitted bills for at least 2.7 million, far more than any other defendant. 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. A locked padlock All three are permanently barred from the securities industry. If you purchase a product or register for an account through one of the links on our site, we may receive compensation. He was the British honorary consul to Portland. Gillis was the second Aequitas chief financial officer. Both Rice and MacRitchie were high-profile Portland executives before joining Aequitas. 1000 SW Third Ave Suite 600 Then Corinthian went bankrupt. Defendant advised of rights. Plea Petition and Plea Agreement signed and accepted by the Court. Subscribe for original insights, commentary and analysis of the issues facing the financial advice community, from the InvestmentNews team. 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. 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. Left to right they are Bob Jesenik, Scott Gillis, Craig Froude (not charged with any crime,) Brian Rice, Andrew MacRitchie and Brian Oliver. John Deere boasted record profits in 2021 and finally struck a deal with striking union workers. Now both have been sucked into the criminal fraud investigation of the collapsed firm. 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. The sentencing for former Aequitas Capital executive Brian Oliver has been moved again. Brian Rice and Scott Gillis, two of the company's six senior partners, resigned in recent weeks. They both opted not to talk. 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. Get started today before this once in a lifetime opportunity expires. But it appears they are far from done. An official website of the United States government. Main Office: But prosecutors allege the Aequitas executives lied about the firms financial performance. Scott Bradford is the lead prosecutor on the case. The third policy is now being consumed even though the criminal case is just getting underway and the pool of potential defendants is expanding. SEC v. Aequitas Management, LLC; Aequitas Holdings, LLC; Aequitas 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. The final judgments prohibit Jesenik, Oliver, and Gillis from serving as officers or directors of any public company. Brian Oliver - Senior Advisor & President, Cathedral Finance They agreed to plead guilty and cooperate with the government.. 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. More Local News to Love Start today for 50% off Expires 3/6/23. All Rights Reserved. Have a question about Government Services? 04/19/2019 11 Waiver of Indictment by Brian A. Oliver (schm) (Entered: 04/19/2019) Former Aequitas Owner and Executive Vice President . A .gov website belongs to an official government organization in the United States. Main Office: II. If you missed the last issue of InvestmentNews, you can access it here. This case is being investigated by the FBI, IRS-Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration. | Sign In, Verdict Corrections 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 - Technical Specialist - BCX | ZoomInfo 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 Longtime Aequitas No. In a separate proceeding, the SEC barred the three from the securities industry. 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). District of Oregon | Former Aequitas Owner and Executive Vice President Rice headed Key Bank in Oregon for 12 years. Court finds defendant capable and competent to enter plea. All three are permanently barred from the securities industry. 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. | Advertising Email USAO-OR. Brian Oliver is an Executive Vice President & President, Aequitas Financial Services Network at Aequitas Capital Management based in Lake Oswego, O regon. By the time he left, he was also in charge of Key Banks operations in Washington and Alaska. Cookie Settings/Do Not Sell My Personal Information. Previously, Brian was an Executive VP, Business Development at Alternative Asset Management.
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