Official websites use .gov SECURITIES AND EXCHANGE COMMISSION v. AEQUITAS MANAGEMENT, LLC - Leagle With love for the 60/40 portfolio fading, 50/30/20 looks to be the cool new kid on the block. A lock ( I have really enjoyed working with Seth, Brian and the Cathedral team. If you missed the last issue of InvestmentNews, you can access it here. SEC charges advisor over Aequitas conflicts of interest. Reset here, 1999 - 2023 citywire.com. A locked padlock U.S. Attorney's Office, District of Oregon, Criminal conspiracy could have cost investors more than $600 million, Former Aequitas Owner and Executive Vice President Pleads Guilty in Fraud and Money Laundering Conspiracy, Salem Man Pleads Guilty for Using Twitter to Threaten Violence Against Robinhood Employees, FBI and Partners Issue National Public Safety Alert on Financial Sextortion Schemes, Armed Robbery Crew Posing as DEA Agents Charged in Federal Court, Former Aequitas Owner and Executive Vice President Pleads Guilty In Fraud and Money Laundering Conspiracy. As U.S. Judge Magistrate Paul Papak noted in an October 2017 ruling, at that point 61 percent of the defense cost payments went to Jeseniks lawyers. Re: United States of America v. Brian A. Oliver - MoreLaw 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. Have a question about Government Services? 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). Portland, Oregon 97204 Investors agree to $234.6M in settlements in Aequitas was - Portland Six months later, on or about June 30, 2015, Gillis signed an amended loan agreement with Wells Fargo on Aequitass behalf. He was the British honorary consul to Portland. His attorneys have submitted bills for at least 2.7 million, far more than any other defendant. A .gov website belongs to an official government organization in the United States. 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. Share sensitive information only on official, secure websites. On March 16, 2016, pursuant to the Stipulated Interim Order Appointing Receiver, the Receiver was appointed as receiver . Please sign in or register to comment. They both opted not to talk. 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). Irvine, California-based Eric Gallinger is affiliating with LPL through Stratos Wealth Partners. They hurt a whole lot of people.. Oliver faces a maximum sentence of 30 years in prison, a $250,000 fine or twice the gross . All material subject to strictly enforced copyright laws. MacRitchie was ScottishPowers point man in its efforts to buy Pacificorp and served as an executive vice president there. 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? The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. Other funds went to pay their salaries. | Articles District of Oregon | Former Aequitas Owner and Chief Financial Officer Neither were charged when the U.S. Securities and Exchange Commission shut Aequitas down and filed a civil lawsuit in March 2016. But the defendants have already spent more than $10 million on legal costs, exhausting the first two policies. 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. Court: United States District Court for the District of Oregon (Multnomah County), Plaintiff's Attorney: Scott E. Bradford and Ryan W. Bounds, Defendant's Attorney: Kendra M. Matthews and Whitney Patrick Boise, 18:1341 and 18:1343 CONSPIRACY TO COMMIT MAIL AND WIRE FRAUD Plus, Jeseniks monthly legal fees approximately quadrupled after he hired new counsel in approximately March 2017. Investment adviser: Aequitas lied to investors | The Seattle Times 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. They are also prohibited from violating the SECs antifraud provisions. Rice headed Key Bank in Oregon for 12 years. Over the last few years Cathedral has really provided sage advice as weve been growing our green building companies. 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. MacRitchie oversaw all Aequitas accounting, legal, and audit functions, and participated in fundraising. 2023 Advance Local Media LLC. Prosecutors claim the Aequitas executives misled company investors about how their money was being used. Thom Maher is launching a firm, Maher Wealth Management, in Phoenix. Sentencing for No. 2 Aequitas executive Brian Oliver moved to February They've got that too. They also have people who have helped raise money and sell businesses so they can help with that too. 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. Nevertheless, Papak ruled in favor of Jeseniks request for access to additional insurance funds to cover his defense. Lock He worked for Portland banks for much of his career before he was named regional president of Key Bank in 2006. Email USAO-OR. This special highlights the best of the fifth annual event which was held in Singapore from November 14-17. Brian Oliver and Olaf Janke, former senior Aequitas executives, have in recent months cut plea deals with federal prosecutors. Signed on 4/19/19 by Magistrate Judge Stacie F. Beckerman. Another was a utility executive who helped change Portlands business landscape. The SECs complaint alleged that Jesenik and Oliver were aware of Aequitass calamitous financial condition yet continued to solicit millions of dollars from investors to pay the firms ever-increasing expenses and attempt to stave off the impending collapse of the business. It added that Gillis allegedly concealed the firms insolvency from investors and was aware that Jesenik and Oliver continued soliciting investors so that Aequitas could pay operating expenses and repay earlier investors with money from new investors.. A .gov website belongs to an official government organization in the United States. Brian has over 30 years experience in providing corporate finance and consulting solutions to small and medium sized businesses. 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. Secure .gov websites use HTTPS Brian Rice and Scott Gillis, two of the company's six senior partners, resigned in recent weeks. President, Cathedral Finance|Senior Advisor. The firm sold more than $300 million worth of private investment notes, mostly through financial advisers. 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. 2023 RIA Intel, an Institutional Investor Publication. brian oliver, aequitas | Editor He will be sentenced on August 5, 2019before U.S. District Court Judge Michael W. Mosman. (1) ) or https:// means youve safely connected to the .gov website. There was the company that bought bad debt from hospitals for pennies on the dollar and then tried to collect on the debt. Portland, Oregon 97204 He is scheduled to be. Sam Kauffman is MacRitchies attorney. 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. If convicted on all charges, each of the defendants could face decades in prison and millions of dollars in fines and restitution, as well as five years supervised release following their prison terms. Brian Oliver - Senior Advisor & President, Cathedral Finance - Cathedral Consulting | LinkedIn Brian Oliver At Cathedral we help entrepreneurs with momentum build value in their business. Brian Oliver and Olaf Janke, former senior Aequitas executives, have in recent months cut plea deals with federal prosecutors. Counsel Present for Defendant: Whitney Boise, Kendra Matthews. Then Corinthian went bankrupt. Timothy Laniers firm in Neptune Beach, Florida, focuses on serving doctors and health care executives. Three other former Aequitas executives, including a former Portland bank president and a senior utility executive, were also charged. 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). He also established Aequitass New York Office and directed Aequitass Lux Fund, a Luxembourg-based fund used to solicit international investors. Co-founders Bob Jesenik and Brian Oliver had participated in too many sketchy deals for sophisticated Oregon investors to feel comfortable with them. 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. Investors had been bilked out of hundreds of millions of dollars, the SEC said. Defendant advised of rights. 1000 SW Third Ave Suite 600 YouTubes privacy policy is available here and YouTubes terms of service is available here. (2), Outcome: 04/19/2019 9 Order Setting Conditions of Release as to Defendant Brian A. Oliver. But I think my clients will be thrilled. Ledger left the company in 2005 in a highly controversial and public way. There was the commercial lender. Aequitas execs deny wrongdoing, cite 'corporate optimism' - oregonlive But it appears they are far from done. (kms) (Entered: 04/19/2019), Home Court finds guilty pleas to be knowing and voluntary. 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 - Senior Business Advising Specialist - Cathedral Consulting Gillis faces a maximum sentence of 30 years in prison, an $8.4 million fine, and five years supervised release. 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. Brians experience encompasses a variety of positions across commercial banking, investment banking, alternative asset management, and business advisory services. It is being prosecuted by Ryan W. Bounds, Christopher Cardani and Siddharth Dadhich, Assistant U.S. Between 2011 and 2014, Aequitas purchased more than $561 million in student loan debt, almost all of which was with Corinthian. By early January 2016, Aequitass general counsel advised Gillis and other executives that the company would soon default on payments due to Private Note investors, causing an event of default on Aequitass loan agreement with Wells Fargo. Oliver is the first former Aequitas Capital executive to be criminally charged. Portland, Oregon 97204 Former CFO N. Scott Gillis was required to pay a $300,000 civil penalty. They remain active in their local church as well as volunteer with several other local non-profits, and in their leisure time enjoy hiking and camping in their travel trailer when not otherwise spending time with their two adult children. In a separate administrative proceeding, Jesenik, Oliver, and Gillis were barred from association with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical ratings organization, the SEC said. Chris Kayser, a Portland lawyer who represented 120 people who had invested in Aequitas, saw firsthand how unsophisticated investors were taken advantage of.
Our Lady Of The Angels Nuneaton Newsletter, 7 Little Johnstons Jonah And Kara, How Many Russian Millionaires In London, Articles B