Robert J Jesenik, Conspiracy to Commit Mail and Wire Fraud, Bank Fraud, Wire Fraud, Money Laundering, Oregon 2024

PORTLAND, Ore. — A high-level financial fraud scheme unraveled today as federal prosecutors unsealed a 32-count indictment against Robert J. Jesenik, 61, the former CEO of Aequitas Management, LLC, and three other top executives tied to the Lake Oswego-based investment firm. Jesenik, once a powerful figure in Oregon’s financial circles, now faces charges of conspiracy to commit mail and wire fraud, wire fraud, bank fraud, and money laundering in a scam that defrauded investors of tens of millions of dollars.

Jesenik, a former resident of West Linn, Oregon, is accused of masterminding a years-long conspiracy alongside Nelson Scott Gillis, 67, of Lake Oswego; Brian K. Rice, 54, of Portland; and Andrew N. MacRitchie, 56, formerly of Palm Harbor, Florida. From June 2014 through February 2016, the executives allegedly misled investors by fabricating the financial health of Aequitas and its affiliated funds, falsely claiming investments were secured by trade receivables in education, healthcare, and consumer credit—when in reality, no such collateral existed.

Court documents reveal the defendants routinely lied about how investor funds would be used, instead funneling cash to cover operating expenses and pay off earlier investors in a classic Ponzi-like structure. They concealed the company’s chronic liquidity crises, withheld critical financial disclosures, and continued soliciting investments even as the enterprise teetered on collapse. Jesenik, as founder and CEO, had final authority over all corporate decisions, while Gillis, the dual-role COO and CFO, oversaw accounting and financial reporting, ensuring the fiction remained intact.

MacRitchie, serving as executive vice president and chief compliance officer, was responsible for risk management and compliance—but instead helped launch the company’s New York office and directed the “Lux Fund,” a Luxembourg-based vehicle used to attract international investors under false pretenses. Rice, as executive vice president and president of wealth management, managed a network of registered investment advisors (RIAs) that funneled unsuspecting clients into the fraudulent scheme.

Two co-conspirators, Brian A. Oliver and Olaf Janke, have already pleaded guilty to mail and wire fraud and money laundering charges in April and June of 2019, respectively. Both agreed to pay full restitution to victims as determined by the court. If convicted on all counts, Jesenik, Gillis, MacRitchie, and Rice each face decades behind bars, millions in fines, and up to five years of supervised release post-incarceration.

The case, investigated by the FBI, IRS-Criminal Investigation, and the U.S. Department of Labor’s Employee Benefits Security Administration, is being prosecuted by Assistant U.S. Attorneys Scott E. Bradford and Ryan W. Bounds. A federal indictment is not a conviction—under U.S. law, all defendants are presumed innocent until proven guilty in a court of law.

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