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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. Email USAO-OR. Until now, Rice and MacRitchie have faced minimal legal expenses. 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. Gillis was the second Aequitas chief financial officer. Prosecutors claim the Aequitas executives misled company investors about how their money was being used. Have a question about Government Services? The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. 2023 InvestmentNews LLC. Defendant waived reading of the Information. 04/19/2019 12 Minutes of Proceedings: Entry of Plea Hearing held before Judge Michael W. Mosman for Defendant Brian A. Oliver. Luminaries from the downtown business establishment wanted to join the team. 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.. ) or https:// means youve safely connected to the .gov website. Counsel Present for Defendant: Whitney Boise, Kendra Matthews. One of Aequitas biggest moneymakers disappeared almost overnight. 2023 Advance Local Media LLC. 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. This case is being investigated by the FBI, IRS Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration. 2023 RIA Intel, an Institutional Investor Publication. He is scheduled to be. The court also required Robert J. Jesenik, the firm's former CEO, and Brian A. Oliver,. A lock ( There was no more hiding the fact that Aequitas was broke. All rights reserved (About Us). They also have people who have helped raise money and sell businesses so they can help with that too. He worked for Portland banks for much of his career before he was named regional president of Key Bank in 2006. (2), Outcome: 04/19/2019 9 Order Setting Conditions of Release as to Defendant Brian A. Oliver. Wealth Management as an industry doesnt understand direct real estate and real estate certainly doesnt understand wealth management, says Realized founder David Wieland.