Tuesday, November 26, 2013
Sunday, May 5, 2013
Saturday, April 27, 2013
Rolling Stone: Everything Is Rigged:
The Biggest Price-Fixing Scandal Ever
The Illuminati were amateurs. The second huge financial scandal of the year reveals the real international conspiracy: There's no price the big banks can't fix
|Illustration by Victor Juhasz|
Everything Is Rigged: The Biggest Price-Fixing Scandal Ever
The Illuminati were amateurs. The second huge financial scandal of the year reveals the real international conspiracy: There's no price the big banks can't fix
Illustration by Victor Juhasz
By MATT TAIBBI
April 25, 2013 1:00 PM ET
Conspiracy theorists of the world, believers in the hidden hands of the Rothschilds and the Masons and the Illuminati, we skeptics owe you an apology. You were right. The players may be a little different, but your basic premise is correct: The world is a rigged game. We found this out in recent months, when a series of related corruption stories spilled out of the financial sector, suggesting the world's largest banks may be fixing the prices of, well, just about everything.
You may have heard of the Libor scandal, in which at least three – and perhaps as many as 16 – of the name-brand too-big-to-fail banks have been manipulating global interest rates, in the process messing around with the prices of upward of $500 trillion (that's trillion, with a "t") worth of financial instruments. When that sprawling con burst into public view last year, it was easily the biggest financial scandal in history – MIT professor Andrew Lo even said it "dwarfs by orders of magnitude any financial scam in the history of markets."
That was bad enough, but now Libor may have a twin brother. Word has leaked out that the London-based firm ICAP, the world's largest broker of interest-rate swaps, is being investigated by American authorities for behavior that sounds eerily reminiscent of the Libor mess. Regulators are looking into whether or not a small group of brokers at ICAP may have worked with up to 15 of the world's largest banks to manipulate ISDAfix, a benchmark number used around the world to calculate the prices of interest-rate swaps.
Interest-rate swaps are a tool used by big cities, major corporations and sovereign governments to manage their debt, and the scale of their use is almost unimaginably massive. It's about a $379 trillion market, meaning that any manipulation would affect a pile of assets about 100 times the size of the United States federal budget.
It should surprise no one that among the players implicated in this scheme to fix the prices of interest-rate swaps are the same megabanks – including Barclays, UBS, Bank of America, JPMorgan Chase and the Royal Bank of Scotland – that serve on the Libor panel that sets global interest rates. In fact, in recent years many of these banks have already paid multimillion-dollar settlements for anti-competitive manipulation of one form or another (in addition to Libor, some were caught up in an anti-competitive scheme, detailed in Rolling Stone last year, to rig municipal-debt service auctions). Though the jumble of financial acronyms sounds like gibberish to the layperson, the fact that there may now be price-fixing scandals involving both Libor and ISDAfix suggests a single, giant mushrooming conspiracy of collusion and price-fixing hovering under the ostensibly competitive veneer of Wall Street culture.
Tuesday, April 2, 2013
On Apr 1, 2013, at 2:00 PM, Paula Humfrey wrote:
AK, following below is a manifesto to park in front of Eurozone Cease & Desist orders for bankers (also found below):
There was always destined to be a single trigger to bring down the Eurozone, which is recognized as an inherently unstable system. Cyprus appears to be pulling that trigger.
Derivatives will take down the entire zone very shortly, and the global cascade that follows this event will be immediate. There is no ‘ring fencing’, no preventative to ‘contagion’, when the exposure of even the smallest of Eurozone countries to bad gambling bets is laid open for all to see — absolute data indeed.
Instead of wringing our hands over the fact that personal bank deposits are now being forcibly confiscated, a battle that is now leading to bank failures and their consequent derivatives exposure, why don’t we instead accept the inevitable and use our collective power to push the boulder down the hill in the direction we’d prefer that it go?
Starting this wave of defaults will lay bare the massive exposures to astronomically 'valued' bad derivatives bets that can't possibly ever be paid. The massive leverage will quickly consume the entire system: we're talking hours or days, not weeks.
For the sake of its sovereignty, Eurozone countries' best bet is to default immediately on all foreign debts, derivatives and swaps. Let's stop the bankers in their tracks, this has gone far enough.
• • •
Here are the relevant drop box links:
All Cease and Desist files for all Eurozone countries except Ireland (plus Canada), in one .zip file link
Monday, March 25, 2013
Banks gone bad: Our evolved morality has failed us
25 March 2013 by Christopher Boehm
We seem to be unable to punish bankers for their scandalous behaviour. That's because our moral instincts can’t cope, says a professor of biological sciences and anthropology
Why is it so hard to punish bankers for their scandalous behaviour? Have our evolved moral instincts failed us?
ROB a bank and you risk a long stretch in jail. Run a bank whose dubious behaviour leads to global economic collapse and you risk nothing of the sort, more likely a handsome pay-off.
Illegal and dangerous mistakes associated with the financial industry have caused serious harm to US and world economies. That is beyond doubt. And the scandals keep coming – rate rigging, money laundering, mis-selling and sanctions busting. The wider backlash against the industry shows no sign of easing.
So given the scale of damage and public anger, fuelled by the industry's bonus culture, it is curious that those responsible have largely avoided punishment in the traditional judicial sense, despite the clamour for it.
That we so want those involved to get their just deserts has its roots in ancient human forms of social control, which led to our modern sense of morality.
Tuesday, February 5, 2013
|Mayer Amschel Rothschild 1743-1812|
I have seen a few compartmentalized projects, one for the Defense Mapping Agency. Just to walk into the room I had to carry a red flashing beeping light. I am not completely sure this is an actual CIA document, its seems far too un-compartmentalized for the CIA. If there's a bureaucratic model of the human dissociative personality it would certainly be 3 letter agency compartmentalization. The left hemisphere of those organizations never knows what the right is doing. This seems far too cogent and comprehensive overview for a typical CIA operative to have.
It may, however, have its roots in a think tank or some other planning agency of the banking system.
Its a very fascinating look into the world of electrical engineering and physics as applied to economic slavery. Shades of the "Quants" of Wall Street....this seems to foreshadow them. Seems Mayer Amschel Rothschild's methods and spirit became a kind of "Ghost in the Machine"...
Thursday, December 27, 2012
TREASURY FINANCE AG: FINAL BULLET REPORT - PARADIGM
A Report On Bank, Judicial and Government Corruption
AK Note: The following PDF has been HTML-ized and
reformatted for easier reading on the Internet, and minor
spelling errors corrected. For the original PDF
reference document click the Scribd icon below:
FINAL BULLET REPORT
reformatted for easier reading on the Internet, and minor
spelling errors corrected. For the original PDF
reference document click the Scribd icon below:
FINAL BULLET REPORT
∞ PARADIGM ∞
INVESTIGATION AUTHORIZATION SUMMARY
|SENSITIVITY||: CLASSIFIED; CONFIDENTIAL|
|ORIGINAL PRIORITY||: TIME PERMISSIVE|
|AMENDMENTS||: EPOCH-FACTUAL BASIS|
|ORIGINAL TIME||: DISCRETION OF INVESTIGATION LEAD|
|AMENDED PROTOCOL||: SUBMERSIVE PARTICIPANT|
|ORIGINAL OBJECTIVES||: INTERNAL-BANKING, TRADE, FINANCE|
|AMENDED OBJECTIVES||: PUBLIC TRUST|
|ORIGINAL SECURITY||: SLIGHT|
|AMENDED SECURITY||: SILENT|
|REPORT AUTHORIZED||: YES|
|REPORT VERIFICATION||: TRINITY PROTOCOLS|
|REPORT PROTOCOL||: TREASURY|
|COURTESY PREVIEW||: SELECTIVE|
|AUTHORIZATION LEAD||: Karl Langenstein|
|INVESTIGATION LEAD||: Heather Ann Tucci-Jarraf|
|INVESTIGATIVE TEAM||: GLOBAL|
|SUPPLEMENTED||: YES--USA NATIONAL|
ULTIMATE FINDINGS & CONCLUSIONS
- THE PRIVATE-MONEY-FOR-PUBLIC-USE BANKING SYSTEM, THE FEDERAL RESERVE BANK, IS A THREAT TO:
- ) ALL HUMANITY AND ITS INALIENABLE RIGHT AND LIBERTY
- ) STATE AND NATIONAL AMERICAN SECURITY
- ) INTERNATIONAL SECURITY
- ) GLOBAL SECURITY
- ) THE SECURITY OF THE HEAD OF THE PRINCIPALS TO THE FEDERAL RESERVE
- ) COMMERCE: STATE; NATIONAL; INTERNATIONAL; GLOBAL
- ) JUSTICE
- THE PRIVATE-MONEY-FOR-PUBLIC-USE BANKING SYSTEM IS THE CONSTANT FORUM, DENOMINATOR, AND PRIME OF ALL CRIMES AGAINST HUMANITY, SOVEREIGNS, CONTRACT, AND COMMERCE, INCLUDING BUT NOT LIMITED TO BREACH OF PEACE, TRESPASS, AND INVOLUNTARY SERVITUDE, THROUGH ILLEGAL FRAUD, COERCION, FORCE, THEFT AND DECEPTIVE PRACTICES AND ACTS
- THE FEDERAL RESERVE BANK, AND ITS PRINCIPALS, ARE THE ABSOLUTE AND FINAL PARTY LIABLE AS ISSUER OF THE FEDERAL RESERVE NOTES
- THE ONLY SOLUTION TO THE THREATS, AND TO MITIGATE LIABILITIES GLOBALLY, IS TO CHANGE THE UNITED STATES BANKING SYSTEM TO THE TRIED AND TRUE PUBLIC-MONEY FOR-PRIVATE-USE BANKING SYSTEM, USING STATE CENTRAL BANKS AND A NATIONAL CENTRAL BANK
- THE AMERICAN PUBLIC BANKING SYSTEM, GOVERNMENT, ESPECIALLY THE JUDICIAL SYSTEM MUST BE 100% TRANSPARENT, ACCOUNTABLE, AND LIABLE
- THE PRIVATE BANKING SYSTEM'S AGENTS HAVE HELD THE HIGHEST OFFICES OF THE AMERICAN GOVERNMENT STEADILY SINCE WOODROW WILSON AND THEY HAVE ESTABLISHED AN EXTERNAL SUPPORT SYSTEM THROUGH CONGRESS, LOBBYS, AND MULTINATIONAL CORPORATIONS;
- THROUGH CAREFUL SELECTION AND PLACEMENT OF THE PRIVATE BANK SYSTEM'S AGENTS, THE GOVERNMENT OF UNITED STATES OF AMERICA IS AND HAS BEEN SERVING THE PRIVATE BANKING SYSTEM TO THE DETRIMENT AND HARM the people of America and the people of the world; THE PRIVATE BANKING SYSTEM HAS ILLEGALLY FORCED PRINCIPLES ON A GLOBAL SCALE
- THE public trustees of The United States Public Trust, AND The Public Trusts of the states of America, HAVE THE ONLY CLEAN, PURE AND SENIOR POSITION IN AMERICA, LEGALLY AND FACTUALLY, TO ORDER THE NEW BANKING SYSTEM AND ORDER their GOVERNMENT TO CLEAN ITSELF UP
- THE CURRENT GOVERNMENT OF UNITED STATES OF AMERICA, ITS OFFICES, AGENCIES AND THEIR OFFICERS, AGENTS, ASSIGNS AND SUCCESSORS, CAN ONLY RESTORE THEIR NATIONAL AND INTERNATIONAL CREDIBILITY THROUGH ITS principal... the public trustees of The United States Public Trust, AND The Public Trusts of the states ofAmerica
- THE public trustees MUST BE GIVEN THE DUE RECOGNITION AND SUPPORT FROM its GOVERNMENT, WORLD GOVERNMENTS AND SOVEREIGNS
- THE public trustees MUST BE GIVEN THE DUE RECOGNITION BY THE CUSTODIANS OF THE PUBLIC WEALTH IN ORDER TO RESTORE BALANCE AND HUMANITY IN THE WORLD
- A CLEAN AND TRANSPARENT AGREEMENT MUST BE ESTABLISHED BETWEEN the public trustees AND THE WORLD'S OLD PARADIGM BENEFICIARIES TO BEGIN FINAL SETTLEMENTS TO CLEAN ALL ASSETS ILLEGALLY TAKEN TO THE SUFFERAGE OF ALL HUMANS
- EVERY NATION AND GOVERNMENT, EACH LIVE PERSON IN EVERY STATION, OFFICE, AND SEAT, SHALL DETERMINE FOR THEMSELVES WHETHER THEY ARE: 1.) A HOSTAGE TO THE OLD PARADIGM, CHOOSING TO FREE ITSELF FROM THE ACTS AND CHOICES OF THEIR PREDECESSORS; or 2.) A COMPLICIT PARTICIPANT WITH THE OLD PARADIGM, AND ENSLAVER OF the people; EACH SHALL IDENTIFY THEMSELVES FOR FREEDOM OR TO BE MADE AN EXAMPLE OF THROUGH ENFORCEMENT "'PARADIGM"'
THE REST OF THIS PAGE
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Friday, October 26, 2012
Major Banks, Governmental Officials
and Their Comrade Capitalists
Targets of Spire Law Group, LLP's
Racketeering and Money Laundering Lawsuit
Seeking Return of $43 Trillion
to the United States Treasury
Oct. 25, 2012, 2:09 p.m. EDT
Major Banks, Governmental Officials and Their Comrade Capitalists Targets of Spire Law Group, LLP's Racketeering and Money Laundering Lawsuit Seeking Return of $43 Trillion to the United States Treasury
NEW YORK, Oct. 25, 2012 /PRNewswire via COMTEX/ -- Spire Law Group, LLP's national home owners' lawsuit, pending in the venue where the "Banksters" control their $43 trillion racketeering scheme (New York) - known as the largest money laundering and racketeering lawsuit in United States History and identifying $43 trillion ($43,000,000,000,000.00) of laundered money by the "Banksters" and their U.S. racketeering partners and joint venturers - now pinpoints the identities of the key racketeering partners of the "Banksters" located in the highest offices of government and acting for their own self-interests.
In connection with the federal lawsuit now impending in the United States District Court in Brooklyn, New York (Case No. 12-cv-04269-JBW-RML) - involving, among other things, a request that the District Court enjoin all mortgage foreclosures by the Banksters nationwide, unless and until the entire $43 trillion is repaid to a court-appointed receiver - Plaintiffs now establish the location of the $43 trillion ($43,000,000,000,000.00) of laundered money in a racketeering enterprise participated in by the following individuals (without limitation): Attorney General Holder acting in his individual capacity, Assistant Attorney General Tony West, the brother in law of Defendant California Attorney General Kamala Harris (both acting in their individual capacities), Jon Corzine (former New Jersey Governor), Robert Rubin (former Treasury Secretary and Bankster), Timothy Geitner, Treasury Secretary (acting in his individual capacity), Vikram Pandit (recently resigned and disgraced Chairman of the Board of Citigroup), Valerie Jarrett (a Senior White House Advisor), Anita Dunn (a former "communications director" for the Obama Administration), Robert Bauer (husband of Anita Dunn and Chief Legal Counsel for the Obama Re-election Campaign), as well as the "Banksters" themselves, and their affiliates and conduits. The lawsuit alleges serial violations of the United States Patriot Act, the Policy of Embargo Against Iran and Countries Hostile to the Foreign Policy of the United States, and the Racketeer Influenced and Corrupt Organizations Act (commonly known as the RICO statute) and other State and Federal laws.
In the District Court lawsuit, Spire Law Group, LLP -- on behalf of home owners across the Country and New York taxpayers, as well as under other taxpayer recompense laws -- has expanded its mass tort action into federal court in Brooklyn, New York, seeking to halt all foreclosures nationwide pending the return of the $43 trillion ($43,000,000,000.00) by the "Banksters" and their co-conspirators, seeking an audit of the Fed and audits of all the "bailout programs" by an independent receiver such as Neil Barofsky, former Inspector General of the TARP program who has stated that none of the TARP money and other "bailout money" advanced from the Treasury has ever been repaid despite protestations to the contrary by the Defendants as well as similar protestations by President Obama and the Obama Administration both publicly on national television and more privately to the United States Congress. Because the Obama Administration has failed to pursue any of the "Banksters" criminally, and indeed is actively borrowing monies for Mr. Obama's campaign from these same "Banksters" to finance its political aspirations, the national group of plaintiff home owners has been forced to now expand its lawsuit to include racketeering, money laundering and intentional violations of the Iranian Nations Sanctions and Embargo Act by the national banks included among the "Bankster" Defendants.
The complaint - which has now been fully served on thousands of the "Banksters and their Co-Conspirators" - makes it irrefutable that the epicenter of this laundering and racketeering enterprise has been and continues to be Wall Street and continues to involve the very "Banksters" located there who have repeatedly asked in the past to be "bailed out" and to be "bailed out" in the future.
The Havens for the money laundering schemes - and certain of the names and places of these entities - are located in such venues as Switzerland, the Isle of Man, Luxembourg, Malaysia, Cypress and entities controlled by governments adverse to the interests of the United States Sanctions and Embargo Act against Iran, and are also identified in both the United Nations and the U.S. Senate's recent reports on international money laundering. Many of these entities have already been personally served with summons and process of the complaint during the last six months. It is now beyond dispute that, while the Obama Administration was publicly encouraging loan modifications for home owners by "Banksters", it was privately ratifying the formation of these shell companies in violation of the United States Patriot Act, and State and Federal law. The case further alleges that through these obscure foreign companies, Bank of America, J.P. Morgan, Wells Fargo Bank, Citibank, Citigroup, One West Bank, and numerous other federally chartered banks stole trillions of dollars of home owners' and taxpayers' money during the last decade and then laundered it through offshore companies.
This District Court Complaint - maintained by Spire Law Group, LLP -- is the only lawsuit in the world listing as Defendants the Banksters, let alone serving all of such Banksters with legal process and therefore forcing them to finally answer the charges in court. Neither the Securities and Exchange Commission, nor the Federal Deposit Insurance Corporation, nor the Office of the Attorney General, nor any State Attorney General has sued the Banksters and thereby legally chased them worldwide to recover-back the $43 trillion ($43,000,000,000,000.00) and other lawful damages, injunctive relief and other legal remedies.
James N. Fiedler, Managing Partner of Spire Law Group, LLP, stated: "It is hard for me to believe as a 47-year lawyer that our nation's guardians have been unwilling to stop this theft. Spire Law Group, LLP stands for the elimination of corruption and implementation of lawful strategies, and that is what we're doing here. Spire Law Group, LLP's charter is to not allow such corruption to go unanswered."
Comments were requested from the Attorney Generals' offices in NY, CA, NV, NH , OH, MA and the White House, but no comment was provided.
About Spire Law Group
Spire Law Group, LLP is a national law firm whose motto is "the public should be protected -- at all costs -- from corruption in whatever form it presents itself." The Firm is comprised of lawyers nationally with more than 250-years of experience in a span of matters ranging from representing large corporations and wealthy individuals, to also representing the masses. The Firm is at the front lines litigating against government officials, banks, defunct loan pools, and now the very offshore entities where the corruption was enabled and perpetrated.
Contact: James N. Fiedler 877-438-8766 http://spire-law.com
SOURCE Spire Law Group, LLP
Copyright (C) 2012 PR Newswire. All rights reserved
Complete PDF of Complaint filed by the Spire Law suit including 10 pages of defendent names:
Reblogged from: http://www.ascensionwithearth.com/2012/10/court-documents-for-43-trillion-dollar.html
Court Documents for the $43 Trillion Dollar Lawsuit - Implicates High Level Politicians and Banks
Our friends over at the SoldierHugs Blog and Removing The Shackles Blog have just released court document details about the $43 Trillion lawsuit initiated by the Spire Law Group. SoldierHugs Blog was the procurer of these documents, and many thanks to him and his sources for bringing this out to the world for all to see.
If you haven't had a chance to read about it than you can revisit the article posted by CNBC HERE and an affiliate of the Wall Street Journal known as 'Market Watch' HERE.
Apparently CNBC removed the article and nothing is showing about this report that they published. But a smart Blogger called 'Sherrie Questioning All' was smart enough to capture screen shots of the article before it was removed. Take a look at the screen shots and article by Sherrie HERE.
It is also sad to report that 1 day after CNBC published this article about the lawsuit the senior vice president for CNBC Digital, Kevin Krim's, two children were murdered. Possibly done by an MK Ultra victim.You can read this story HERE.
You can download the PDF Documents from SoldierHugs Blog at this link: http://www.soldierhugs.com/wp-content/uploads/2012/10/SPIRE-LAW-FEDERAL-COMPLAINT-IN-NEW-YORK.pdf
I also posted the document below for you to read immediately.
Wednesday, October 24, 2012
This is not a new blog post, but one I haven't seen before on Iceland. -AK
Wednesday, May 9, 2012
ICELAND. No news from the Icelandic Revolution?
No news from Iceland? Why? How come we hear everything that happens in Egypt but no news about what's happening in Iceland:
In Iceland, the people has made the government resign, the primary banks have been nationalized, it was decided to not pay the debt that these created with Great Britain and Holland due to their bad financial politics and a public assembly has been created to rewrite the constitution. And all of this in a peaceful way. A whole revolution against the powers that have created the current global crisis. This is why there hasn’t been any publicity during the last two years: What would happen if the rest of the EU citizens took this as an example? What would happen if the US citizens took this as an example.
Tuesday, October 9, 2012
Reblogged from: http://goo.gl/Zscdd
Arrest the Banksters! From the man that started the revolution in Iceland
The man who forced the government of Iceland to resign and kicked out the IMF representatives from his country, Hordur Torfarson, is now teaching meta-modern democracy throughout Europe. The rest of the world would benefit from following the example set by Iceland: Arresting the corrupt bankers who are responsible for the current economic turmoil.
Friday, September 28, 2012
SA Banks must pay out big time
Up to a trillion rand could be refunded to South African customers by the banks. This is precisely the kind of cash injection that will help bring our country out of debt slavery and into a new age of prosperity.
Millions of South Africans who have loans or credit could see their monthly repayments reduced substantially. And tens of thousands of people who have had judgments against them over the past two decades may be eligible for compensation. Garnishee orders should be slashed and small businesses struggling with overdrafts should be released from the shackles of debt slavery.
In simple terms – it is very possible that your credit card, home loan, personal loan, vehicle loan or any form of credit you may have, has been settled in full by a third party, called a Special Purpose Vehicle (SPV). Because your loan has been settled in full (ie. the bank has been paid out for your loan), the bank cannot bring your case to court. Under these circumstances, the collections process undertaken by banks, and any judgments taken by the bank as a result, would be unlawful.
Once a loan has been securitised (this is the technical term for this process), the bank loses the legal right to the asset. Confirmation of this was given to the New Economic Rights Alliance in the form of the attached letter from the South African Reserve Bank (see page 5, para AD8).
Thursday, August 2, 2012
Now… that Bankers’ Video (mentioned in the “Galactic Soap Operas” post)…
Posted on 2012/08/01
Thanks to Sally (of Kona) for this one, forwarded to me by Beverly.
Still asking, “Where’s all the arrests?” Well, you may want to watch this collection of arrests reports on TV from around the world. 15 minutes long, one of my favorite parts is the Max Keiser at the end. Just a fine collection of snips from a variety of sources.
Sunday, July 29, 2012
This was posted at: http://anoncentral.tumblr.com/post/28109989079/colorado-massacre-linked-to-historic-bank-fraud
Colorado Massacre Linked To Historic Bank Fraud - Killer Does Not Appear To Be James Holmes
KILLER DOES NOT APPEAR TO BE JAMES HOLMES - JAMES HOLMES BEING USED IN BLACKMAIL OF ROBERT HOLMES FINANCIAL FRAUD DETECTION EXPERT FOR FICO IN LIBOR SCANDAL.
James Holmes father Robert Holmes, was said to have been scheduled to testify within the next few weeks before a US Senate panel on the massive banking crime called the LIBOR Scandal where UK banks fixed the London Interbank Borrowing Rate with the complicity of the Bank of England, the US Federal Reserve (which knew about this crime for 4 years and didn’t report it) and many other major Western banks.
Not known to the majority of those affected by this LIBOR rate scandal (which is everyone in the world) is that its historically low setting of interests rates since the beginning of the Global Financial Crisis of 2007-2012 has done more to destroy the life savings, stock investments and retirements of Americas middle class than any other single event in their entire history.
Even worse, according to this report, Holmes recently completed his work on what is called one of the most sophisticated computer algorithms ever developed that not only uncovered the true intent of this massive fraud, but is, also, able to trace the Trillions of Dollars “lost” to the exact bank accounts of the elite classes who have stolen it.
This Colorado massacre occurred within minutes of London’s Guardian News Service releasing report this past Saturday (21 July) titled “Wealth Doesn’t trickle Down – It Just Floods Offshore, Research Reveals” as Robert Holmes algorithms were said used to discover this massive fraud scheme.
Saturday, July 28, 2012
Cindy has graciously taken on the task of collecting reports of banker arrests into one list. You will find a permanent link to her web page at the top of my blog under "BANKERS ARRESTED"
Wednesday, July 25, 2012
South Korea's President Lee Myung-bak Gives National Apology; Brother Arrested For Accepting Bank Bribes
24 July 2012 Last updated at 03:24 ET
South Korea's Lee Myung-bak in national apology
Mr Lee's apology came in a brief statement to the nation
South Korea leader's brother arrested
South Korean President Lee Myung-bak has apologised to the nation over corruption investigations involving his brother and former aides.
"I bow my head and apologise for causing the public concern as a result of these incidents," he said in a short address on television.
His brother, Lee Sang-deuk, was detained by police on corruption charges earlier this month.
Mr Lee's five-year presidential term comes to an end in February.
Lee Sang-deuk, a former lawmaker for six terms and reportedly the president's political mentor, faces allegations of taking 600m won (£338,200; $525,000) in bribes from two savings banks to help them avoid an audit.
As the elder brother to South Korea's head of state, his arrest and possible trial could affect support for the ruling party in December's presidential elections, says the BBC's Lucy Williamson in Seoul.
There has been widespread anger over the savings bank scandal. Since the start of this year, South Korean regulators have closed 20 of the nation's weakest banks.
Many of them were so-called savings banks, which were created following the 1997 Asian financial crisis. There used to be more than 100 of these small regional lenders, which were either private or rural co-operatives.
However, a rising number of mortgage defaults in the country's lacklustre real-estate market following the 2008 financial crisis led many of these lenders to face capital and liquidity shortages.
In January 2011, the financial regulator began suspending operations of banks that did not have enough money.
Two of the troubled savings banks were Solomon Savings Bank, which was shut two months ago, and Mirae Savings Bank. Both allegedly made payments to the elder Mr Lee.
But prosecutors investigating the savings bank scandal allege the illegal activity goes much wider, and have indicted nearly 200 people, including politicians, lobbyists and bankers.
Monday, July 16, 2012
|This is NOT an actual image of the bounty hunter!|
Jul. 12, 2012, 2:07 PM
If you were involved in Icelandic high finance in the runup to the recession, you might want to start watching your back.
That's because the government has appointed a white collar crime bounty hunter who wants to haul your behind in (alive, to be sure).
LeMonde reporter Charlotte Chabas has a profile of Ólafur Þór Hauksson, a former local police lieutenant whom the Iceland government appointed to track down individuals likely to have helped sink the country's banking sector during the credit crunch.
Hauksson's job description, according to PressEurop's translation of the piece:
"On one hand, we have to investigate all suspicion of fraud and offences committed before 2009, on the other hand, we bring the lawsuits against the suspects to court ourselves," Hauksson explains. This is a 'totally new' method which allows the investigators to "follow the case" and the judicial system to "know the cases like the back of their hand". This is indispensable in order "to compete with the well-prepared defence attorneys".Hauksson oversees a posse of 100 researchers to help track down outlaws. He's netted some major convictions since starting in 2009, including the former chief of staff of the country's finance minister on insider trading charges. Many others await their day in court, Chabas writes.
And he will track you down even if you've fled abroad.
"Searches continue and the team pursues its investigations abroad in the foreign subsidiaries of the Icelandic banks and includes questioning foreigners," Chabas writes. " 'We enjoy full international cooperation,' stresses Olafur Hauksson."
Saturday, July 14, 2012
2012 JULY 13
Posted by Steve Beckow
We’ve heard the galactics say that it doesn’t matter where people hide. They will be found and restrained. Cindy sends along so many URLs on bankers faking suicide, confessing, or trying to skip town that I have to list her URLs below this story. The banking swindle is coming undone.
Aubrey Lee Price, Missing Georgia Bank Director, Left Behind Confession, Possible Suicide Note
By KATE BRUMBACK, Huff Post, 07/11/12 05:52 PM ET
ATLANTA — After penning a rambling letter to financial regulators and writing notes to his family, a south Georgia bank director boarded a ferry in Key West, Fla., and disappeared.
Now local and federal investigators are trying to determine whether Aubrey Lee Price killed himself, as the lengthy letter – which they’ve described as a confession – would have them believe, or whether he slipped away with $17 million of investors’ money. His family has told authorities they believe he’s dead, but federal investigators aren’t so sure and have offered $20,000 for information leading to his arrest.
“My depression and discouragement have driven me to deep anxiety, fear and shame. I am emotionally overwhelmed and incapable of continuing in this life,” says the confession letter investigators believe was written by Price.
“I created false statements, covered up my losses and deceived and hurt the very people I was trying to help,” the letter says.
Price apologizes at the beginning of the confession for its “lack of structure, grammar and harmony of thought.” Indeed, it wanders from one subject to the next and back again and is sprinkled with grammatical errors and Bible verses. It includes claims that Price is solely responsible for the banking losses; apologies to his clients, associates and partners; claims that banking was never his area of expertise and that he got bad advice; some blame for regulators and other outside forces; repeated mentions of the stress and anxiety he says he has felt for months; and many allusions to his apparent intent to kill himself. The confession also denies that any money was stolen, saying it was all lost through bad investments.
Members of Price’s family and several of his associates mentioned in court documents did not return calls seeking comment. A manager at the bank he directed, which has been purchased by another bank and reopened this week under a different name, said he couldn’t comment, citing the ongoing investigation.
Price left his home in south Georgia on June 16, telling his family he was headed to Guatemala for business, said Sgt. Aaron Pritchett of the Lowndes County Sheriff’s Office, which is investigating his disappearance. Two days later, Price’s family received letters saying he was going to Key West to board a ferry headed to Fort Meyers and planned to jump off somewhere along the way to end his life.
Credit card records show he purchased dive weights and a ferry ticket. The ferry ticket was scanned at the boarding point, but that’s where the trail runs cold, Pritchett said.
The Coast Guard searched for him, and investigators talked to the ferry crew and rental car agencies in the Fort Meyers area, to no avail.
Price has said he owns real estate in Venezuela and frequently went there and to Guatemala. Airline records show he had returned to the U.S. from a trip to Venezuela on June 2, according to a statement from an FBI investigator. Price may also own a boat that’s big enough to travel from Florida to Venezuela, the investigator said.
Price became director of Montgomery Bank & Trust in Ailey, Ga., in December 2010, when a company he controlled bought a controlling portion of the bank’s stock, according to a complaint filed late last month in federal court in New York. Price then opened brokerage accounts through a securities clearing and custodial firm in New York and told bank managers he would invest in U.S. Treasury securities.
Instead of investing the bank’s money, authorities say Price wired the funds into accounts he controlled at other financial institutions and provided bank managers with fraudulent documents.
The FBI and federal prosecutors in New York say Price embezzled $17 million in bank funds. The Securities and Exchange Commission has filed a complaint in federal court in Atlanta saying he defrauded investors. The Federal Deposit Insurance Corp. on Friday said it seized Montgomery Bank & Trust. A federal grand jury in Georgia on Wednesday indicted Price on a bank fraud charge, after prosecutors claimed that his actions led to the depletion of Montgomery Bank & Trust’s cash assets and reserves.
An associate told an SEC lawyer that since 2009, Price had raised roughly $40 million from about 115 investors, mostly in Georgia and Florida, through the sale of membership interests in his investment firm. He routinely sent investors messages saying the firm, for which he made the investment decisions, consistently had positive returns, the SEC lawsuit says. Price provided monthly account statements to investors that were falsified to hide the fact that millions of dollars were missing, his associate told the SEC.
Wendy Cross moved about $300,000 to Price’s firm after a trusted financial adviser told her it would be a good investment. She met Price in person once. She described a very religious, soft-spoken man with a gentle demeanor and an air of kindness.
“He should have won an Oscar for his performance that day,” she said. “He has left a path of financial carnage.”
The 46-year-old from Atlanta said she discovered something was wrong late last month when she wanted to withdraw some money from the firm to invest in another business. She tried multiple times to contact the firm to withdraw money. When she texted her financial adviser, he responded that he had had no idea what was going on at the company and said he thought Price was still alive despite rumors of his suicide.
Cross said she is shocked and devastated by the loss of her savings. She owns a food truck that sells arepas, stuffed cornmeal patties popular in some Latin American countries, but said she will have to sell the truck because she needs the money to live. She can’t afford to hire a lawyer and said she doesn’t know what she’s going to do next.
Price lived with his wife and children in Bradenton, Fla., but bought a home in Valdosta earlier this year, according to authorities. Price had moved his family to the south Georgia city, where his wife’s parents live, just a few weeks before he disappeared. There were financial reasons behind the move, but it also appears Price may have been trying to make things easier on his family once he disappeared, Pritchett said.
Pritchett calls the case interesting and peculiar but wouldn’t speculate on whether Price is still alive.
“Until we have a body, it’s kind of hard to say,” Pritchett said. “It’s almost like a novel.”
Cindy on Fallen Business Titans
First, Russell Wasendorf decides to cancel a wedding in August and get married immediately in Vegas …
Then he attempts suicide in the parking lot where he works, his employees find him and they report money is missing …
Ooops! Found it at JP Morgan! …
And he admits he has been forging the documents for years …
It’s the LEAD story at HuffPost now … http://www.huffingtonpost.com/business/
New Evidence Michael Marin, Ex-Wall Street Trader Who Died In Court, May Have Ingested Cyanide
Peregrine Financial CEO Left Suicide Note, ‘Caused Alarm’
Colorado conman killed by business partner in murder-suicide
Fall of a Wall Street titan
High-flying life of invest guru spun into deadly spiral
Read more: http://www.nypost.com/p/news/local/fall_of_wall_street_titan_ycL1kNjADrPmJfqsDXT46J#ixzz20KyugD68
And it started in the East …
South Korea’s Banking Sector Is Falling Apart, And Bankers Are Killing Themselves Over It,
Friday, July 13, 2012
Thursday, July 12, 2012
There's an online petition to jail crooked bankers. Perhaps it will have some impact on politicians and media outlets. There is a definite need for more accurate reporting on the banking situation with the mainstream media. Politicians don't really seem to listen to anything but money.
Put bankers behind bars
Posted: 10 July 2012
Big banks have been caught in a massive scam to rig global interest rates, ripping off millions of people on their mortgages, student loans and more! We'd go to jail for this, but Barclays bank has only been fined, and just a fraction of their profits! Outrage is mounting -- this is our chance to finally turn the tide of the banks' reign over our democracies.
The EU finance regulator, Michel Barnier is standing up to the powerful bank lobby and championing reform that would put bankers behind bars for fraud like this. If the EU goes first, accountability could quickly spread across the globe. But the banks are lobbying hard against it, and we need a massive surge of people power to drive these reforms through.
If we can get 1 million people to stand with Barnier in the next 3 days, it will give him momentum to face down the banking lobby and push governments to bring reform. Sign the petition, and our growing numbers will be represented by adding mock bankers to a jail right in front of the EU Parliament.
Tuesday, July 10, 2012
Oligarch linked to politicians 'ordered murder of banker’
By Sam Marsden | Telegraph – 10 hours ago
A Russian oligarch linked to George Osborne and Lord Mandelson has been accused of ordering the murder of a banker, belonging to a mafia group and bribing a governor over a business deal, the High Court heard.
|Oleg Deripaska at Davos|
Mr Deripaska alleged in court documents that Mr Cherney was a criminal who used threats to impose an extortion racket on him. Lawyers for Mr Cherney, a Ukrainian-born billionaire living in exile in Israel, denied the claims and referred to serious allegations made against the Russian oligarch. In written submissions to the court, it was said that Djalol Khaidarov, an Uzbek businessman, had told prosecutors in the US, Israel and Russia that Mr Deripaska was involved in bribing a governor in Siberia to secure the takeover of an aluminium plant.
The statement also alleges that he was a member of an organised crime group and ordered the murder of Vadim Yafyasov, a businessman, in 1995. The court documents also quoted Mr Khaidarov as telling Israeli police in 2001 that people such as Mr Deripaska employ former agents of Russia’s security service and “constantly receive information from the security authorities”.
Mark Howard QC, for Mr Cherney, said in the written submissions: “Much of the highly selective material relied upon by Mr Deripaska (whether admissible or inadmissible) implicates Mr Deripaska himself in serious criminality, at least as much as Mr Cherney.”
Mr Deripaska tried to place restrictions on the disclosure of evidence during the current hearings, it was claimed. Mr Howard said the Russian had accused Mr Cherney of running an “old-fashioned extortion racket”.
“On the other hand, those who had prior business relationships with Mr Cherney are likely to find those relationships embarrassing and inconvenient now that Mr Cherney is no longer on good terms with Mr Deripaska and is persona non grata in Russia.”
|Oleg Deripaska's Yacht|
A spokesman for Mr Deripaska, who did not attend court yesterday, said the oligarch “vehemently denies” the allegations. “Mr Deripaska has stated that Mr Cherney is a criminal with whom he was forced to enter into a krysha relationship [protection] in post-Soviet Russia. He was never business partners with Mr Cherney and he rejects the entirety of the claim brought against him. He looks forward to demonstrating in court that Mr Cherney’s allegations are untrue.”
Mr Cherney, who will give evidence to the hearing via videolink because of an outstanding arrest warrant relating to a money-laundering investigation in Spain, denies any criminal involvement and claims that his relationship with Mr Deripaska was purely a business one.
Lawyers for the two billionaires will finish outlining their cases this week. The hearing will then be adjourned until September, when witnesses, due to include Mr Abramovich, will be called.