Scott Bradford is the lead prosecutor on the case. Oliver was a partial owner and Executive Vice President of Aequitas Management, LLC ("Aequitas Management . 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. In April, Brian Oliver, Aequitas. Please E-mail suggested additions, comments and/or corrections to Kent@MoreLaw.Com. But prosecutors allege the Aequitas executives lied about the firms financial performance. Brian Oliver - Senior Business Advising Specialist - Cathedral Consulting If the sentencing materials are not received on time or the Court is not advised that none will be filed, the sentencing may be rescheduled. The court also required Robert J. Jesenik, the firm's former CEO, and Brian A. Oliver,. Seven years ago, it was easy to believe in Aequitas. Have a question about Government Services? Guilty pleas entered as to Counts 1 and 2 of the Information. Previously, Brian was an Executive VP, Business Development at Alternative Asset Management. [More: Aequitas meltdown underscores the importance of due diligence, caution]. 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. They both opted not to talk. (2), Outcome: 04/19/2019 9 Order Setting Conditions of Release as to Defendant Brian A. Oliver. 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. 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. Theyve got a team that really loves entrepreneurship and is equipped with different skill sets. 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). | Link Errors Investment adviser: Aequitas lied to investors | The Seattle Times The firm was growing quickly, it did business with some of the best-known investment advisors in the country, it claimed to have more than $1 billion under management. The company's general counsel just quit. 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? By late 2015, Aequitas was suffering one of its periodic cash flow crises. Both Rice and MacRitchie were high-profile Portland executives before joining Aequitas. Counsel Present for Defendant: Whitney Patrick Boise and Kendra M. Matthews. In a separate proceeding, the SEC barred the three from the securities industry. A lock ( He will be sentenced on June 27, 2023 by U.S. District Court Judge Michael H. Simon. B. Brian Rice and Scott Gillis, two of the company's six senior partners, resigned in recent weeks. The Oregon firm thought it had hit the motherlode when it got into the college debt business. A Salem, Oregon man pleaded guilty today for using Twitter to threaten violence against employees of Robinhood Markets, Inc., an online financial services company based in Menlo Park, California. (1) Oliver is the first former Aequitas Capital executive to be criminally charged. 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 Brian and his wife of 30 years live in Aurora, Oregon where they raised their family. The company opened slick new offices in New York City. As Aequitas grew, its profile in the community also increased. 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. Have a question about Government Services? Six months later, on or about June 30, 2015, Gillis signed an amended loan agreement with Wells Fargo on Aequitass behalf. | Advertising PORTLAND, Ore.U.S. Defendant proceeds as named. Jesenik, Rice, and MacRitchie are all on pre-trial release pending a five-week jury trial scheduled to begin on April 3, 2023. Accounting giant Deloitte, stock trader T.D. Rice, former president of Key Bank of Oregon, acknowledged in recent court filings that he is a target in the case. PDF SEC Complaint: Aequitas Management, LLC; Aequitas Holdings, LLC brian oliver, aequitas brian oliver, aequitas Home Realizacje i porady Bez kategorii brian oliver, aequitas Attorneys for the District of Oregon. Get started today before this once in a lifetime opportunity expires. All rights reserved (About Us). There was the motorcycle leasing company. | Articles 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 John Deere boasted record profits in 2021 and finally struck a deal with striking union workers. ORDER granting the Government's oral motion to unseal the case. Aequitas Management, the Oregon-based RIA accused in 2016 of running a massive Ponzi-like scheme, and its top executives have finally settled with the Securities and Exchange Commission. This case is being investigated by the FBI, IRS Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration. Prosecutors claim the Aequitas executives misled company investors about how their money was being used. 2023 InvestmentNews LLC. Luminaries from the downtown business establishment wanted to join the team. Gillis was the second Aequitas chief financial officer. 13. Former CFO N. Scott Gillis was required to pay a $300,000 civil penalty. Court orders Aequitas to disgorge $453 million in fraud case A .gov website belongs to an official government organization in the United States. In these roles, he was responsible for directing Aequitass overall financial policies and accounting functions. They've got that too. 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. 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. Oliver, former second-in-command at Aequitas, pleads guilty to fraud He will be sentenced on August 5, 2019before U.S. District Court Judge Michael W. Mosman. 2023 Advance Local Media LLC. SEC files Complaint against Aequitas Management - Fishman Haygood 1000 SW Third Ave Suite 600 The third policy is now being consumed even though the criminal case is just getting underway and the pool of potential defendants is expanding. 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. SEC Posts Notice of Covered Action Regarding Case Against Aequitas With love for the 60/40 portfolio fading, 50/30/20 looks to be the cool new kid on the block. 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. Owler Reports - KCC: Aequitas Capital No. 2 Brian Oliver pleads guilty Main Office: 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. It is free to register and only takes a minute or two. (See separate order.) More Local News to Love Start today for 50% off Expires 3/6/23. But now it has a bigger problem: farmers are revolting against restrictions on how they repair complex equipment. It is being prosecuted by Scott E. Bradford and Ryan W. Bounds, Assistant U.S. Lock He is scheduled to be. Brian Mariash, James Lowther and their team will operate as Mariash Lowther Wealth Management in Sarasota, Florida. (Tape #FTR-9B) (gw) (Entered: 04/19/2019) Redmond adviser caught in Oregon firm's $600M financial collapse 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. Nevertheless, Papak ruled in favor of Jeseniks request for access to additional insurance funds to cover his defense. An official website of the United States government. Aequitas borrowed funds from other financial institutions, including Wells Fargo Bank, N.A., to purchase these trade receivables. Brian Oliver and Olaf Janke, Aequitas chief financial officer before Gillis, pleaded guilty to similar charges. Section 203(f) of the Investment Advisers Act of 1940 ("Advisers Act") against Brian A. Oliver ("Oliver" or "Respondent"). In January 2014, shortly before joining Aequitas, he was named to the Portland board of directors of the Federal Reserve Bank of San Francisco. 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. District of Oregon | Former Aequitas Owner and Chief Financial Officer Community Rules apply to all content you upload or otherwise submit to this site. They agreed to plead guilty and cooperate with the government.. Aequitas did make legitimate investments. Subsequent reports detailed Aequitas default on its debt, the resulting panic among investors, the secret conflicts, and the firms strange cultural mashup -- part Wall Street investment bank, part frat party, part Bible class. 04/19/2019 11 Waiver of Indictment by Brian A. Oliver (schm) (Entered: 04/19/2019) Defendant advised of rights. Brian's experience encompasses a variety of positions across commercial banking, investment banking, alternative asset management, and business advisory services. 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. 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. It is being prosecuted by Ryan W. Bounds, Christopher Cardani and Siddharth Dadhich, Assistant U.S. Aequitas collapsed in 2016 owing about $600 million to investors. Irvine, California-based Eric Gallinger is affiliating with LPL through Stratos Wealth Partners. Aequitas specialized in debt. Federal prosecutors have already cut guilty plea deals with two former Aequitas executives. The Aequitas entities, Jesenik, and Gillis consented to the entry of final judgment without admitting or denying the SECs allegations. He argues he needs the money to help defray losses suffered by Aequitas investors. District of Oregon | Former Aequitas Senior Executive and Chief 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. YouTubes privacy policy is available here and YouTubes terms of service is available here. 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). 04/19/2019 14 Plea Petition and Order Entering Plea as to Defendant Brian A. Oliver. All rights reserved (About Us). They agreed to plead guilty and cooperate with the government. 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. PDF United States of America Securities and Exchange Commission Investment This case is being investigated by the FBI, IRS Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration. | Editor Aequitas Management, LLC, et al. (Release No. LR-23485; March 11, 2016) Counsel Present for Plaintiff: Scott Bradford, Ryan Bounds.

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