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. Luminaries from the downtown business establishment wanted to join the team. In addition, it said Gillis agreed to be permanently suspended from appearing and practicing before the SEC as an accountant and cannot work as an auditor for pubic companies. 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 The Aequitas entities, Jesenik, and Gillis consented to the entry of final judgment without admitting or denying the SECs allegations. 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. ) or https:// means youve safely connected to the .gov website. Lock Share sensitive information only on official, secure websites. Theyve got a team that really loves entrepreneurship and is equipped with different skill sets. 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. Mitsubishi Signs $1.9b Commuter Rail Deal With Manila: Nikkei, AllianceBernstein Wins China Approval to Set Up Mutual Fund Unit, Sorry, Fed, Most US Mortgage Rates Were Locked in During Pandemic Lows, Fed Says MoreRate Hikes Are Needed to Curb Inflation, US Service Sector Expands More Than Forecast Suggesting Hiring Success, VW Will Build a $2 Billion Electric Truck and SUV Plant in South Carolina, Saudi Wealth Fund in Talks to Buy Rocco Forte Hotels Stake, China E-Commerce Giant JD Set for $1.4 Billion Discount Spree, SoftBanks Son to Join Modi at Oyo Founders Wedding Gala, US-Sanctioned Huawei Makes a Show of Force at Mobile Conference, Hong Kong Court Convicts Activists Behind Tiananmen Vigil, Bidens About-Face on DC Crime Bill Shows Democrats on Defensive, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, NYC TikTok Dating Diary Chronicles Love in the Time of Inflation, Tom Sizemore, 'Saving Private Ryan' actor, dies at 61, AP Says, The Exhibit Reality TV Show PittingArtist Against ArtistIs No Masterpiece, Video Roundup: Opinions Must-See Footage of the Week, How Democrats Got Away From Third Way Politics, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Biden Gives Medal of Honor to Trailblazing Special Forces Member, Panic Over Metals for EVs Goes All the Way to Automakers C-Suites, Rivian Tells Staff EV Output May Be 24% More Than Forecast, What Do You Want to See in a Covid Memorial? 1000 SW Third Ave Suite 600
Some money from new investors was allegedly used to pay earlier investors Aequitas collapsed in 2016 owing about $600 million to investors. RIA Intel is part of Delinian. Oliver faces a maximum sentence of 30 years in prison, a $250,000 fine or twice the gross . In these roles, he was responsible for directing Aequitass overall financial policies and accounting functions. Previously, Brian was an Executive VP, Business Development at Alternative Asset Management. Rice, a longtime Portland banker who eventually became regional president for Key Bank, gave up the big downtown office to join Aequitas in 2014. But I think my clients will be thrilled. All rights reserved (About Us). 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. It is being prosecuted by Scott E. Bradford and Ryan W. Bounds, Assistant U.S. Nevertheless, Papak ruled in favor of Jeseniks request for access to additional insurance funds to cover his defense. Main Office:
There was the commercial lender. Then Corinthian went bankrupt. He also established Aequitass New York Office and directed Aequitass Lux Fund, a Luxembourg-based fund used to solicit international investors. An official website of the United States government. The Aequitas entities, which are in receivership, will have to pay $540 million in disgorgement and interest as part of the final judgment. Main Office:
Gillis was the second Aequitas chief financial officer. The court appointed receiver now in charge of whats left of Aequitas opposes Rices and MacRitchies request for access to the insurance money. (Tape #FTR-9B) (gw) (Entered: 04/19/2019) Jesenik also must pay a civil penalty of $625,000. (2), Outcome: 04/19/2019 9 Order Setting Conditions of Release as to Defendant Brian A. Oliver. 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 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. This case is being investigated by the FBI, IRS-Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration. Irvine, California-based Eric Gallinger is affiliating with LPL through Stratos Wealth Partners. Jesenik, Rice, and MacRitchie are all on pre-trial release pending a five-week jury trial scheduled to begin on April 3, 2023. Much of the cash went to make the payments owed to other investors. 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. 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. A locked padlock The company's general counsel just quit. MacRitchie oversaw all Aequitas accounting, legal, and audit functions, and participated in fundraising. Portland, Oregon 97204
If you need help with finances, they've got that covered. A lock ( They also have people who have helped raise money and sell businesses so they can help with that too. Gillis was the second Aequitas chief financial officer. | Editor 2023 InvestmentNews LLC. 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
18:1957 CONSPIRACY TO COMMIT MONEY LAUNDERING It began to default on the interest payments owed its legion of mom and pop investors. Please E-mail suggested additions, comments and/or corrections to Kent@MoreLaw.Com. Portland, Oregon 97204
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. Longtime Aequitas No. Defendant sworn and examined. Bob Jesenik has not been criminally charged. In what could be the largest settlement of a securities lawsuit in Oregon history, settlements of at least $234.6 million have been secured for some 1,600 investors in a class action against third. His attorneys have submitted bills for at least 2.7 million, far more than any other defendant. The firm purchased or invested in other financial firms, many of them glorified debt collectors. There was no more hiding the fact that Aequitas was broke. Counsel Present for Plaintiff: Scott Bradford, Ryan Bounds. Scott Bradford is the lead prosecutor on the case. PORTLAND, Ore.U.S. 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. Ledger was the co-founder of Aequitas, which was then a small New York based company that dealt primarily in commercial paper. I have really enjoyed working with Seth, Brian and the Cathedral team.. Signed on 4/19/2019 by Judge Michael W. Mosman. Its been a long time coming, Kayser said. In a divorce settlement filed with the court, it's. Oliver is the first former Aequitas Capital executive to be criminally charged. 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. It is free to register and only takes a minute or two. ) or https:// means youve safely connected to the .gov website. They agreed to plead guilty and cooperate with the government. Plea Petition and Plea Agreement signed and accepted by the Court. Counsel Present for Defendant: Whitney Patrick Boise and Kendra M. Matthews. 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). Five of the six senior Aequitas executives have been charged with federal crimes or have pleaded guility. Signed on 4/19/19 by Magistrate Judge Stacie F. Beckerman. The Government does not seek detention and Defendant is released on conditions. Rice acknowledged in court filings that he's a suspect in the case. Sam Kauffman is MacRitchies attorney. 2023 Advance Local Media LLC. MacRitchie was ScottishPowers point man in its efforts to buy Pacificorp and served as an executive vice president there. Brian provides Cathedral particular expertise in leading Merger & Acquisition transactions and arranging Corporate Finance solutions for its clients, after having been involved in extensive transactions of all sizes throughout his career. 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. B. Aequitas investors lost about $600 million after the collapse.
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