Showing posts with label Mary Schapiro. Show all posts
Showing posts with label Mary Schapiro. Show all posts

Thursday, August 18, 2011

EVIDENCE DESTROYED.


BATTLE HEATING UP: SEC, GOLDMAN AND OTHERS DESTROYING DOCUMENTS

Posted on August 18, 2011 by Neil Garfield

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FROM MARKET WATCH

SEC may have destroyed documents, senator says

Grassley: Agency may have got rid of Goldman, Madoff documents

By Ronald D. Orol, MarketWatch
Updates to include SEC settlement with Aguirre
WASHINGTON (MarketWatch) — The Securities and Exchange Commission may have destroyed documents and compromised enforcement cases involving activity at large banks and hedge funds during the height of the financial crisis in 2008, according to allegations made by a lawmaker on Wednesday.
“From what I’ve seen, it looks as if the SEC might have sanctioned some level of case-related document destruction,” said Sen. Chuck Grassley, Republican of Iowa, in a letter to the agency’s chairman, Mary Schapiro.
Sen. Chuck Grassley
“It doesn’t make sense that an agency responsible for investigations would want to get rid of potential evidence. If these charges are true, the agency needs to explain why it destroyed documents, how many documents it destroyed over what timeframe, and to what extent its actions were consistent with the law.”
Agency staff “destroyed over 9,000 files” related to preliminary agency investigations, according to a letter sent in July to Grassley, the top Republican on the Senate Judiciary Committee, and obtained by MarketWatch.
The allegations were made by SEC enforcement attorney, Darcy Flynn, in a letter to Grassley. Flynn is a current employee, and according to the letter, received a bonus for his past year’s work.
Flynn alleges the SEC destroyed files related to matters being examined in important cases such as Bernard Madoff and a $50 billion Ponzi scheme he operated as well as an investigation involving Goldman Sachs Group Inc. GS -3.96%   trading in American International Group credit-default swaps in 2009.
Flynn also alleged that the agency destroyed documents and information collected for preliminary investigations at Wells Fargo & Co. WFC -5.23% , Bank of America Corp.BAC -5.93% , Citigroup C -7.89%  , Credit Suisse CS -9.28%  , Deutsche Bank DB -7.79%  Morgan Stanley MS -6.17%  and the now-bankrupt Lehman Brothers.
The letter goes into particular detail about Deutsche Bank, the former employer of current SEC enforcement chief Robert Khuzami as well as former enforcement chiefs Gary Lynch and Richard Walker.
The allegations that the SEC destroyed documents were first reported by the Rolling Stone magazine in a report Wednesday.
An SEC spokesman did not return a request for comment. However, according to the Rolling Stone article, the SEC told the National Archives and Records Administration that the commission “is not aware of any specific instances of the destruction of records from any other MUI.”
The SEC added that it “cannot say with certainty that no such documents have been destroyed over the past 17 years.” Read Grassley’s letter to the SEC
Flynn’s lawyer, Gary Aguirre, was a former SEC attorney. Aguirre was fired in September 2005 as he was investigating allegations of insider trading at the major hedge fund Pequot Capital Management.
Filed under: bubble, CDO, CORRUPTION, currency, Eviction, foreclosure, GTC | Honor, Investor,Mortgage, securities fraud Tagged: | , , , ,, , , , , , , , , , , , ,
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7 Responses

  1. Abby in CA, on August 18, 2011 at 12:57 pm said:
    Nancy Drew or Mary Cochraine–I think we all know how to manuever around in LivingLies to find Neil’s posts. It is rather redundant to post links to his already posted commentaries.
    His site is very easy to manuever and he has a ‘search’ area at top right of the page.
    I know you mean well, but it is rather redundant.

  2. Nancy Drew, on August 18, 2011 at 12:46 pm said:
    NOTE: DOCUMENTS BEING DESTROYED DIRECTLY RELATED TO ‘TRUSTEES’
    TRUSTEES responsbile for nationwide sale and resale of real estate loans.
    TRUSTEES responsible for nationwide purchse of mortgage notes and reselling servicing rights c/o Master Servicer.
    One ‘loan trust’ the TRUSTEE responsible for all of the ‘collateral’ transferred in and out of the trust.
    Very clean line of business moving electronically on intergrated network all of the TRUSTEES’ vendors, providers, affilaites transactions in which consumer complaints reveal any ‘issues.’
    FEDERAL RESERVE birds eye view of all complaints by individual consumers and commercial consumers via OCC and OTS for the SEC would have to contact the OCC and/or OTS to review evidence




  6. Nancy Drew, on August 18, 2011 at 12:37 pm said:
    EXTRA-Ordinary Powers vested by CONGRESS under Article I, Congressional Branch makes laws and vests powers.
    EXTRA-Ordinary Powers Vested To:
    FEDERAL RESERVE
    Congress prevents enforcement of laws by Executive Branch under Article II vested powers to enforce laws by
    Congress vested Jurisdiction over unlawful business acts to Attorney Generals
    Exception: related to FEDERAL RESERVE
    Will ‘TRUSTEE’ with national assocaition and federal association affixed to their ‘brand label’ be protected under the latest attempt to enforce stautory laws of the USA?
    President Obama how much do you want to get reelected?
    As Commander-In-Chief I mean no disrepsect to you personally. Your ‘office’ has powers to bring into the light of day who harmed economy.

  7. Nancy Drew, on August 18, 2011 at 12:33 pm said:
    DOCUMENTS DESTROYED FOR BENEFIT OF ‘TRUSTEE’
    AND HOW DID TRUSTEE’S KNOW WHICH DOCUMENTS TO DESTROY?
    ALL ‘INVESTIGATIONS’ OF ALL COMPLAINTS OF ‘CONSUMERS’ C/O OCC & OTC C/O FEDERAL RESERVE!

































































































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Monday, July 18, 2011

WHISTLE BLOWERS HUGE REWARD COULD BE YOURS! PLEASE TELL YOUR STORY AND HELP US.

Corporate Whistle Blower Center Urges Mortgage Loan Servicing Or Bank Foreclosure Insiders To Step Up For Potentially Huge Rewards For Wrongdoing

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The Corporate Whistle Blower Center is dramatically increasing its efforts to expand its whistleblower initiative into the US mortgage servicing industry. The group says, "The US mortgage loan servicing industry is rotten to the core, and there is so much wrongdoing it almost is impossible to even comprehend. In the instance of big banks, or big loan servicing companies doing it wrong, or getting it wrong with respect to the US real estate foreclosure disaster, we think whistleblowers could be walking away with millions of dollars. What makes this mess really intriguing is unlike many other industry sectors, we may not need an executive level person to become the whistleblower. In the case of banks, or loan servicing companies all that might be needed is a assistant manager, or an individual who has to sit by and watch the wrong doing everyday. If you are one of these people we want to talk with you, and you can call us anytime at 866-714-6466." http://CorporateWhistleBlowerCenter.Com

(PRWEB) July 18, 2011
The Corporate Whistle Blower Center is expanding its efforts to assist big bank loan servicing insiders to step forward, if they possess significant proof about wrong doing, especially if it involves foreclosures, or loan modifications. The group says, "We know loan servicing employees have to sit by, and watch their big bank employer do it wrong, or do it illegally when it comes to our nations real estate foreclosure disaster, and we are saying this type of information could be worth millions in whistleblower rewards, provided the evidence is substantial, and provided this is new information, not previously disclosed." The Corporate Whistle Blower Center says, "We are one of the best branded whistleblower advocates in the United States, and our sister organization the National Mortgage Complaint Center is one of the most quoted sources in the United States on mortgage loan servicing. What this all means is we are in an extremely unique position to assist a mortgage loan servicing insider, or a major bank insider working on foreclosures, or short sales advance a possible whistleblower claim. Please call us for more information if your bank, or mortgage loan servicing company, or major bank foreclosure department is doing something wrong, or illegal." For more information mortgage loan servicing insiders, or major bank foreclosure, or short sale insiders are encouraged to contact the Corporate Whistle Blower Center anytime at 866-714-6466, or they can contact the group via their web site at http://CorporateWhistleBlowerCenter.Com
The Corporate Whistle Blower Center is saying, "If an individual wants to become a whistleblower there are some pretty basic rules. Rule number one is your proof of wrong doing has to be substantial, and easy to understand. It also has to be significant, in the millions of dollars-which for a major loan servicing operation, or a big bank is nothing. Rule number two is you keep your information to yourself. As an example if you were to go to the news media with a story about a bank foreclosure department, or major big loan servicing operation doing it wrong, illegally, or in a fraudulent manner, the public disclosure might eliminate your chances for a reward. Rule number three is do not go to the government with your information, without a solid team in your corner. This is where we come in." The group says, "If you are working for a major US bank, or loan servicing company, and there is major wrongdoing, that you can prove, we want to talk to you, and you can call us anytime at 866-714-6466." http://CorporateWhistleBlowerCenter.Com.
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For the original version on PRWeb visit: www.prweb.com/releases/prweb2011/7/prweb8647961.htm


Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/07/18/prweb8647961.DTL#ixzz1SSanKswX
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