Scott Bradford is the lead prosecutor on the case. An indictment is only an accusation of a crime, and defendants are presumed innocent unless and until proven guilty. If you purchase a product or register for an account through one of the links on our site, we may receive compensation. 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've got that too. 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. All material subject to strictly enforced copyright laws. Oliver was a partial owner and Executive Vice President of Aequitas Management, LLC ("Aequitas Management . It is being prosecuted by Ryan W. Bounds, Christopher Cardani and Siddharth Dadhich, Assistant U.S. Rice, a longtime Portland banker who eventually became regional president for Key Bank, gave up the big downtown office to join Aequitas in 2014. Previously, Brian was an Executive VP, Business Development at Alternative Asset Management. 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 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. 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. Government summarized charges and terms of plea agreement. Other funds went to pay their salaries. Share sensitive information only on official, secure websites. Oliver faces a maximum sentence of 30 years in prison, a $250,000 fine or twice the gross monetary gains or losses resulting from his crimes, and three years supervised release. Luminaries from the downtown business establishment wanted to join the team. The Government does not seek detention and Defendant is released on conditions. Its not just the amount of insurance money that went to Jesenik that concerns the receiver. Rice headed Key Bank in Oregon for 12 years. Share sensitive information only on official, secure websites. | Articles Jesenik also must pay a civil penalty of $625,000. Federal regulators claimed that Aequitas executives misled investors for years about the companys true financial condition. ORDER granting the Government's oral motion to unseal the case. | Advertising He worked for Portland banks for much of his career before he was named regional president of Key Bank in 2006. If you need help with finances, they've got that covered. Plea Petition and Plea Agreement signed and accepted by the Court. All rights reserved (About Us). 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. Attorneys for the District of Oregon. 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. Arraignment held for Defendant Brian A. Oliver on Counts 1 and 2 of the Information. 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. He was even on the board of the Arlington Club. District of Oregon The third policy is now being consumed even though the criminal case is just getting underway and the pool of potential defendants is expanding. [More: Aequitas meltdown underscores the importance of due diligence, caution]. 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. Have a question about Government Services? Brian Oliver and Olaf Janke, former senior Aequitas executives, have in recent months cut plea deals with federal prosecutors. Attorneys for the District of Oregon. Oliver is the 25% owner of Aequitas Management and an Executive Vice President of the Entity Defendants. Secure .gov websites use HTTPS Both Rice and MacRitchie were high-profile Portland executives before joining Aequitas. (chso). Lock It is being prosecuted by Scott E. Bradford and Ryan W. Bounds, Assistant U.S. Brian received a Bachelor of Science degree from Oregon State University. As part of his plea agreement, Gillis has also agreed to pay restitution as determined by the government and ordered by the court. In a divorce settlement filed with the court, it's. Brian A. Oliver, age 51, resides in Aurora, Oregon. The Aequitas entities, Jesenik, and Gillis consented to the entry of final judgment without admitting or denying the SECs allegations. Brian has over 30 years experience in providing corporate finance and consulting solutions to small and medium sized businesses. The Lake Oswego, Ore.-based investment management firm was the subject of a Securities and Exchange Commission complaint filed in 2016 alleging that Aequitas defrauded more than 1,500 investors into believing they were putting their money into health care, education and transportation investments when their money was being used primarily in a Ponzi-like fashion. 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. A .gov website belongs to an official government organization in the United States. There are also questions about whether Jesenik and other defendants spent the money appropriately. This story was revised on Aug. 21, 2020 to correct some details about Brian Rices professional background. 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. They are also prohibited from violating the SECs antifraud provisions. Email USAO-OR. Nelson Scott Gillis, 69, of Lake Oswego, Oregon, pleaded guilty to one count of making a false statement to a bank. Brians experience encompasses a variety of positions across commercial banking, investment banking, alternative asset management, and business advisory services. They also have people who have helped raise money and sell businesses so they can help with that too. 1000 SW Third Ave Suite 600 18:1957 CONSPIRACY TO COMMIT MONEY LAUNDERING Portland, Oregon 97204 Brian and his wife of 30 years live in Aurora, Oregon where they raised their family. The company's general counsel just quit. 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. Gillis, who was previously indicted for conspiring to submit false statements to a federally insured creditor, was the companys chief operating officer and chief financial officer. Three other former Aequitas executives, including a former Portland bank president and a senior utility executive, were also charged. Signed on 4/19/19 by Magistrate Judge Stacie F. Beckerman. There was no more hiding the fact that Aequitas was broke. 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. But they made good money for Aequitas and its investors. Defendant advised of rights. Jesenik, a former resident of West Linn, Oregon, is charged in a 32-count indictment with conspiracy to commit mail and wire fraud, wire fraud, bank fraud, and money laundering. If you purchase a product or register for an account through one of the links on our site, we may receive compensation. Five of the six senior Aequitas executives have been charged with federal crimes or have pleaded guility. 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. The recent filings indicate several additional Aequitas executives, like Rice and MacRitchie, are in harms way. Accounting giant Deloitte, stock trader T.D. MacRitchie oversaw all Aequitas accounting, legal, and audit functions, and participated in fundraising. 2023 InvestmentNews LLC. Aequitas specialized in debt. Among his responsibilities, Rice oversaw the solicitation of investments through registered investment advisors (RIA) and managed Aequitass affiliated RIAs. MacRitchie was ScottishPowers point man in its efforts to buy Pacificorp and served as an executive vice president there. Attorney Billy J. Williams announced today that Robert J. Jesenik, 61, a former chief executive officer of Aequitas Management, LLC and several other Aequitas-owned entities, has been indicted along with three other former company executives for their roles in a fraud and money laundering conspiracy. More Local News to Love Start today for 50% off Expires 3/6/23. (Court Reporter Ryan White) (kms) (Entered: 04/19/2019) 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). Main Office: A .gov website belongs to an official government organization in the United States. Counsel Present for Defendant: Whitney Boise, Kendra Matthews. Oliver is the first former Aequitas Capital executive to be criminally charged. It is believed that since he was ousted from Aequitas, Jesenik has been working for a company founded by his son: KCR Advisors LLC, based in Viero Beach, Fla. An earlier indictment against Gillis will be dismissed. 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. John Deere boasted record profits in 2021 and finally struck a deal with striking union workers. Portland, Oregon 97204 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. 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 YouTubes privacy policy is available here and YouTubes terms of service is available here. 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. | Link Errors They agreed to plead guilty and cooperate with the government.. Brian Oliver and Olaf Janke, Aequitas chief financial officer before Gillis, pleaded guilty to similar charges. President, Cathedral Finance|Senior Advisor. Defendant sworn and examined. The Oregonian first reported the criminal charges and guilty plea. A locked padlock Please E-mail suggested additions, comments and/or corrections to Kent@MoreLaw.Com. In January 2014, shortly before joining Aequitas, he was named to the Portland board of directors of the Federal Reserve Bank of San Francisco.