brian oliver, aequitas

Aequitas Settles With SEC for $540 Million as Three Top - RIAIntel More Local News to Love Start today for 50% off Expires 3/6/23. It is free to register and only takes a minute or two. Oliver was also charged criminally for his conduct. There was the motorcycle leasing company. All three are permanently barred from the securities industry. (See separate order.) The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. Brian Rice and Andrew MacRitchie left their corporate posts for jobs at Aequitas Capital. A locked padlock Aequitas also had tentacles spread throughout the RIA world. Its been a long time coming, Kayser said. Counsel Present for Defendant: Whitney Boise, Kendra Matthews. Defendant advised of rights. Not guilty pleas and denial of forfeiture allegation entered. 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? As part of his plea agreement, Gillis has also agreed to pay restitution as determined by the government and ordered by the court. 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. 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. 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. Counsel Present for Defendant: Whitney Patrick Boise and Kendra M. Matthews. Rice, a longtime Portland banker who eventually became regional president for Key Bank, gave up the big downtown office to join Aequitas in 2014. This story was revised on Aug. 21, 2020 to correct some details about Brian Rices professional background. Brian Rice and Scott Gillis, two of the company's six senior partners, resigned in recent weeks. 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. Former Aequitas CEO and Senior Executives Indicted in Fraud and Money As Aequitas grew, its profile in the community also increased. They both opted not to talk. 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 2023 RIA Intel, an Institutional Investor Publication. Share sensitive information only on official, secure websites. Brian Oliver - Senior Advisor & President, Cathedral Finance - Cathedral Consulting | LinkedIn Brian Oliver At Cathedral we help entrepreneurs with momentum build value in their business. A .gov website belongs to an official government organization in the United States. The sentencing for former Aequitas Capital executive Brian Oliver has been moved again. Timothy Laniers firm in Neptune Beach, Florida, focuses on serving doctors and health care executives. The company's general counsel just quit. 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. Waiver of indictment signed and accepted by the Court. Brian Mariash, James Lowther and their team will operate as Mariash Lowther Wealth Management in Sarasota, Florida. SEC bars Aequitas execs after $540m judgement against Oregon firm Portland, Oregon 97204 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 Government does not seek detention and Defendant is released on conditions. MacRitchie was the companys executive vice president and chief compliance officer. In these roles, he was responsible for directing Aequitass overall financial policies and accounting functions. 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. A federal court in Oregon entered final judgments against Aequitas Management requiring the firms receiver to pay $453 million in disgorgement. Over the last few years Cathedral has really provided sage advice as weve been growing our green building companies. He pled guilty but has not yet been sentenced. 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. Attorneys in Aequitas Capital fraud case spar over Oregon regulator who Gillis faces a maximum sentence of 30 years in prison, an $8.4 million fine, and five years supervised release. 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. Sam Kauffman is MacRitchies attorney. 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. 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. Portland, Oregon 97204 (Court Reporter Ryan White) (kms) (Entered: 04/19/2019) They've got that too. A lock ( Accounting giant Deloitte, stock trader T.D. 0. On or about January 12, 2015, Aequitas entered into a loan agreement with Wells Fargo to establish a $100 million line of credit. 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. Scott Bradford is the lead prosecutor on the case. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". A native of the United Kingdom, he served as the British honorary consul in Portland for several years. 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. Brian A. Oliver, a former owner and executive vice president of Aequitas Management, LLC and several other Aequitas-related companies pleaded guilty to conspiring to commit mail and wire fraud and money laundering. 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 Share sensitive information only on official, secure websites. 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. 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. In January 2014, shortly before joining Aequitas, he was named to the Portland board of directors of the Federal Reserve Bank of San Francisco. If you purchase a product or register for an account through one of the links on our site, we may receive compensation. Oliver was a partial owner and Executive Vice President of Aequitas Management, LLC ("Aequitas Management . Brian Oliver, Aequitas Capital's longtime No. Over the last few years Cathedral has really provided sage advice as weve been growing our green building companies. 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. Wealth Management as an industry doesnt understand direct real estate and real estate certainly doesnt understand wealth management, says Realized founder David Wieland. 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. brian oliver, aequitas 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. Defendant proceeds as named. Rice, former president of Key Bank of Oregon, acknowledged in recent court filings that he is a target in the case. They also have people who have helped raise money and sell businesses so they can help with that too. 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. 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. Brian A Oliver is Exec VP & Pres:Financial Svcs at Aequitas Capital Mgmt Inc. See Brian A Oliver's compensation, career history, education, & memberships. | Link Errors The firm sold more than $300 million worth of private investment notes, mostly through financial advisers. Brian Oliver - Senior Advisor & President, Cathedral Finance District of Oregon | Articles Please read our Terms and Conditions, Modern Slavery Act Transparency Statement, and Privacy Policy before using the site. Share sensitive information only on official, secure websites. If you purchase a product or register for an account through one of the links on our site, we may receive compensation. Rice headed Key Bank in Oregon for 12 years. Brian's experience encompasses a variety of positions across commercial banking, investment banking, alternative asset management, and business advisory services. Other funds went to pay their salaries. The firm purchased or invested in other financial firms, many of them glorified debt collectors. 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. 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. Irvine, California-based Eric Gallinger is affiliating with LPL through Stratos Wealth Partners. If you need help with finances, they've got that covered. District of Oregon | Former Aequitas Senior Executive and Chief Aequitas finances were already spiraling down, and the worse they got, the more student debt the firm bought from Corinthian. 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.

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