brian oliver, aequitas

Counsel Present for Plaintiff: Scott Bradford, Ryan Bounds. More Local News to Love Start today for 50% off Expires 3/6/23. Both Rice and MacRitchie have asked the court for access to Aequitas insurance money to cover their defense costs. Brian Oliver and Olaf Janke, Aequitas chief financial officer before Gillis, pleaded guilty to similar charges. Six months later, on or about June 30, 2015, Gillis signed an amended loan agreement with Wells Fargo on Aequitass behalf. 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? 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. Share sensitive information only on official, secure websites. Attorneys for the District of Oregon. The company had three policies each for $5 million of coverage. Brian Rice and Andrew MacRitchie left their corporate posts for jobs at Aequitas Capital. 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. As previously reported by RIA Intel, Aequitas claimed to manage $1.67 billion before it collapsed, which would likely make its downfall Oregons biggest-ever investment scandal. Aequitas collapsed in 2016 owing about $600 million to investors. 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. Portland, Oregon 97204 He will be sentenced on August 5, 2019before U.S. District Court Judge Michael W. Mosman. Cookie Settings/Do Not Sell My Personal Information. ) or https:// means youve safely connected to the .gov website. 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. 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. Co-founders Bob Jesenik and Brian Oliver had participated in too many sketchy deals for sophisticated Oregon investors to feel comfortable with them. PORTLAND, Ore.U.S. Sam Kauffman is MacRitchies attorney. By late 2015, Aequitas was suffering one of its periodic cash flow crises. Its been a long time coming, Kayser said. The court also required Robert J. Jesenik, the firm's former CEO, and Brian A. Oliver,. | Editor Over the last few years Cathedral has really provided sage advice as weve been growing our green building companies. 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. Prosecutors claim the Aequitas executives misled company investors about how their money was being used. But now it has a bigger problem: farmers are revolting against restrictions on how they repair complex equipment. Sentencing is set for 8/5/2019 at 9:00AM in Portland before Judge Michael W. Mosman. 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. 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. According to court documents, Aequitas created and operated investment funds that purchased trade receivables in education, health care, transportation, and other consumer credit areas. Three other former Aequitas executives, including a former Portland bank president and a senior utility executive, were also charged. 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. Counsel Present for the Government: Scott E. Bradford and Ryan W. Bounds. A locked padlock Attorney Billy J. Williams announced today that Brian A. Oliver,a former owner and executive vicepresident of Aequitas Management, LLC and several other Aequitas . Main Office: Rice, a longtime Portland banker who eventually became regional president for Key Bank, gave up the big downtown office to join Aequitas in 2014. As such, he was responsible for the development and implementation of risk management and compliance processes and procedures. He is scheduled to be sentenced on Aug. 5. There was the motorcycle leasing company. 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.. Brian Rice and Scott Gillis, two of the company's six senior partners, resigned in recent weeks. 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! 13. (See separate order.) Oliver was a partial owner and Executive Vice President of Aequitas Management, LLC ("Aequitas Management . 04/19/2019 11 Waiver of Indictment by Brian A. Oliver (schm) (Entered: 04/19/2019) An official website of the United States government. Rice, former president of Key Bank of Oregon, acknowledged in recent court filings that he is a target in the case. Court finds guilty pleas to be knowing and voluntary. Secure .gov websites use HTTPS ) or https:// means youve safely connected to the .gov website. There was the commercial lender. Have a question about Government Services? It is being prosecuted by Scott E. Bradford and Ryan W. Bounds, Assistant U.S. Share sensitive information only on official, secure websites. It began to default on the interest payments owed its legion of mom and pop investors. Portland, Oregon 97204 Its not just the amount of insurance money that went to Jesenik that concerns the receiver. Previously, Brian was an Executive VP, Business Development at Alternative Asset Management. All Rights Reserved. The firm purchased or invested in other financial firms, many of them glorified debt collectors. The new indictments bring to six the number of former Aequitas executives charged with defrauding investors. Signed on 4/19/19 by Magistrate Judge Stacie F. Beckerman. The court appointed receiver now in charge of whats left of Aequitas opposes Rices and MacRitchies request for access to the insurance money. 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 sentencing for former Aequitas Capital executive Brian Oliver has been moved again. 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. Brians experience encompasses a variety of positions across commercial banking, investment banking, alternative asset management, and business advisory services. MacRitchie was ScottishPowers point man in its efforts to buy Pacificorp and served as an executive vice president there. 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. 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. By that time, it was clear to Aequitas executives the company was in deep financial trouble., Kayser added. | Link Errors Brian A. Oliver, age 51, resides in Aurora, Oregon. 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. 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. In anticipation of the institution of these proceedings, Respondent has submitted an Offer . 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 was the second Aequitas chief financial officer. (chso). 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. A lock ( The Aequitas entities, Jesenik, and Gillis consented to the entry of final judgment without admitting or denying the SECs allegations. The firm sold more than $300 million worth of private investment notes, mostly through financial advisers. Please E-mail suggested additions, comments and/or corrections to Kent@MoreLaw.Com. Section 203(f) of the Investment Advisers Act of 1940 ("Advisers Act") against Brian A. Oliver ("Oliver" or "Respondent"). Former Aequitas Owner and Executive Vice President . Guilty pleas entered as to Counts 1 and 2 of the Information. 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. Much of the cash went to make the payments owed to other investors. Oliver is the first former Aequitas Capital executive to be criminally charged. It is free to register and only takes a minute or two. | Privacy Statement. Signed on 4/19/2019 by Judge Michael W. Mosman.

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