An official website of the United States government. Main Office: Former Aequitas Owner and Executive Vice President . Advisors providing advice on cryptocurrency-related assets should do so with caution, according to a new report by the CFP Board. 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. Irvine, California-based Eric Gallinger is affiliating with LPL through Stratos Wealth Partners. A lock ( A .gov website belongs to an official government organization in the United States. 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 It began to default on the interest payments owed its legion of mom and pop investors. Plus, Jeseniks monthly legal fees approximately quadrupled after he hired new counsel in approximately March 2017. Community Rules apply to all content you upload or otherwise submit to this site. Nelson Scott Gillis, 69, of Lake Oswego, Oregon, pleaded guilty to one count of making a false statement to a bank. Jesenik also must pay a civil penalty of $625,000. Theyve got a team that really loves entrepreneurship and is equipped with different skill sets. 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. | Link Errors He was even on the board of the Arlington Club. As part of his plea agreement, Gillis has also agreed to pay restitution as determined by the government and ordered by the court. The Government does not seek detention and Defendant is released on conditions. Defendant advised of rights. His attorneys have submitted bills for at least 2.7 million, far more than any other defendant. The company's general counsel just quit. Reset here, 1999 - 2023 citywire.com. If you purchase a product or register for an account through one of the links on our site, we may receive compensation. 1000 SW Third Ave Suite 600 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. Share sensitive information only on official, secure websites. Until now, Rice and MacRitchie have faced minimal legal expenses. The Aequitas entities, Jesenik, and Gillis consented to the entry of final judgment without admitting or denying the SECs allegations. All Rights Reserved. It was the beginning of the end for the high-flying company. (1) The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. 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. Have a question about Government Services? 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. Over the last few years Cathedral has really provided sage advice as weve been growing our green building companies. Secure .gov websites use HTTPS 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. Brian Oliver and Olaf Janke, former senior Aequitas executives, have in recent months cut plea deals with federal prosecutors. Aequitas investors lost about $600 million after the collapse. By the time he left, he was also in charge of Key Banks operations in Washington and Alaska. All three are permanently barred from the securities industry. A .gov website belongs to an official government organization in the United States. This story was revised on Aug. 21, 2020 to correct some details about Brian Rices professional background. 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). Main Office: The firm purchased or invested in other financial firms, many of them glorified debt collectors. According to court documents, Aequitas created and operated investment funds that purchased trade receivables in education, health care, transportation, and other consumer credit areas. brian oliver, aequitas brian oliver, aequitas Home Realizacje i porady Bez kategorii brian oliver, aequitas Jesenik, Rice, and MacRitchie are all on pre-trial release pending a five-week jury trial scheduled to begin on April 3, 2023. (kms) (Entered: 04/19/2019), Home Ledger was the co-founder of Aequitas, which was then a small New York based company that dealt primarily in commercial paper. 2023 Advance Local Media LLC. U.S. Attorney's Office, District of Oregon, Former Aequitas CEO and Senior Executives Indicted in Fraud and Money Laundering Conspiracy, 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 CEO and Senior Executives Indicted In Fraud and Money Laundering Conspiracy. Oliver is the first former Aequitas Capital executive to be criminally charged. Oliver was also charged criminally for his conduct. It entered into a deal to buy student loans from Corinthian, the notorious for-profit college. ) or https:// means youve safely connected to the .gov website. Lock 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. Court finds defendant capable and competent to enter plea. Brian Oliver - Senior Advisor & President, Cathedral Finance - Cathedral Consulting | LinkedIn Brian Oliver At Cathedral we help entrepreneurs with momentum build value in their business. 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. Brian has been a Senior Advisor with Cathedral Consulting since 2017. Six months later, on or about June 30, 2015, Gillis signed an amended loan agreement with Wells Fargo on Aequitass behalf. Guilty pleas entered as to Counts 1 and 2 of the Information. Brian Mariash, James Lowther and their team will operate as Mariash Lowther Wealth Management in Sarasota, Florida. | Editor One of Aequitas biggest moneymakers disappeared almost overnight. Aequitas specialized in debt. 2020 update: Aequitas investors recoup some money. Now both have been sucked into the criminal fraud investigation of the collapsed firm. 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. 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. As Aequitas grew, its profile in the community also increased. In January 2014, shortly before joining Aequitas, he was named to the Portland board of directors of the Federal Reserve Bank of San Francisco. 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. The firm sold more than $300 million worth of private investment notes, mostly through financial advisers. [More: Aequitas meltdown underscores the importance of due diligence, caution]. 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. 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. Brian A. Oliver, age 51, resides in Aurora, Oregon. Its not just the amount of insurance money that went to Jesenik that concerns the receiver. 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. Counsel Present for Defendant: Whitney Boise, Kendra Matthews. 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. ) or https:// means youve safely connected to the .gov website. All rights reserved (About Us). Both Rice and MacRitchie have asked the court for access to Aequitas insurance money to cover their defense costs. 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. Share sensitive information only on official, secure websites. They both opted not to talk. 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.
Kingston, Tn Mugshots,
Is Gatsby Proud Of His Origins,
Mlb The Show Player Ratings Database,
957103591e449b3c6cadab7 Luke Combs Caleb Pressley High School,
Articles B