Justice Department | FORECLOSURE FRAUD | by DinSFLA

Tag Archive | "Justice Department"

The “Banker Gangs” Are Still on the Loose, and the Justice Department Still Won’t Come Clean

The “Banker Gangs” Are Still on the Loose, and the Justice Department Still Won’t Come Clean


HuffPO- Richard (RJ) Eskow

No financial executives have gone to jail, despite an overwhelming body of evidence indicating that a group of organized “banker gangs” conducted a widespread Wall Street crime wave that made them rich and while throwing millions into poverty. The Justice Department’s failure to act against these bankers is matched only by its declining credibility — a problem it only makes worse whenever it tries to defend itself.

An interview with an outgoing Justice official in today’s Wall Street Journal is merely the latest in a sad parade of weak excuses and implausible arguments, and it comes on the heels of Justice Department official Lanny Breuer’s poor 60 Minutes showing this week on the same topic.

Stop. Just stop. If nobody at Justice can get the job done, it’s time for the Administration to bring in a whole new team and start again. Did everybody in the banking business break the law? No. Very few did. But some of the ones that did appear to be very well-placed, and if they’re not punished they’ll do it again and again.

[HUFFINGTONPOST]

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Posted in STOP FORECLOSURE FRAUDComments (0)

Senator Tester wants Justice Department to investigate big banks for fraud, illegal fees on veterans’ mortgages

Senator Tester wants Justice Department to investigate big banks for fraud, illegal fees on veterans’ mortgages


“If true, this type of behavior is illegal and it’s un-American. There is no question about that.”

-Sen. Tester

(U.S. SENATE) – Senator Jon Tester is pushing the U.S. Justice Department to investigate the nation’s biggest banks for allegedly adding illegal fees to the home loans of veterans and their families.

A recently unsealed whistleblower lawsuit alleges that Bank of America, Wells Fargo, and J.P. Morgan Chase disguised fees that are specifically forbidden under VA rules on veterans’ home refinancing loans. 

Because these loans are guaranteed by the federal government, they are low-risk, leading to additional profits for the banks. But the Justice Department has so far declined to pursue the case.

In a letter to Attorney General Eric Holder, Tester called for the Justice Department to take up the case, saying defrauding veterans would be “illegal and Un-American.”

“I request that you investigate the full extent of these illegal activities, and provide my office with detailed information about the subsequent damages as well as the actions the Justice Department will undertake to prevent them from happening in the future,” Tester wrote Holder. “Despite what some of our nation’s largest banks may believe, the men and women who have honorably served our country deserve better than this. They have earned as much.”

Under VA rules, lenders may not charge veterans for attorneys’ fees or settlement closing fees when handling home loans. The lawsuit alleges that lenders instructed mortgage brokers to disguise these fees by combining them with other, permitted charges.

“Taking advantage of veterans who put their lives on the line—that’s something no Montanan and no American should stand for,” Tester said. “The Justice Department needs to protect not only the men and women who defend this country, but also the American taxpayers who guaranteed these loans. The actions of these banks deserve a close and thorough look from this Administration.” 

According to the lawsuit, more than 1.2 million VA home loans have been issued to veterans over the past 10 years, and as much as 90 percent may involve some degree of fraud. 

Tester is Montana’s only member of the Senate Veterans’ Affairs Committee. Earlier this year, he introduced a bill that increases the penalties for banks that violate the Servicemembers Civil Relief Act, which protects active duty troops from certain financial and legal hardships.

Tester’s letter to Attorney General Holder appears below.

###

October 11, 2011

The Honorable Eric Holder
Attorney General
Department of Justice
950 Pennsylvania Ave, NW, Suite 5111
Washington, DC 20530

Dear Attorney General Holder:

I write regarding the lawsuit recently unsealed in federal court which reveals that as many as 13 banks and mortgage firms imposed excessive, hidden and illegal fees on a number of our nation’s veterans and their families. Because these home loans were backed by the federal government, they were low-risk and led to additional profits for the banks. I am bothered by the fact that the Justice Department reportedly will not be taking on the case at this time. I request that you provide justification for this decision, and urge you to reconsider. I also request that you investigate the full extent of these illegal activities, and provide my office with detailed information about the subsequent damages as well as the actions the Justice Department will undertake to prevent them from happening in the future.

According to the lawsuit, these veterans were fraudulently charged millions in illegal fees through a Department of Veterans Affairs (VA) loan program through which they sought to lower their interest rates or shorten the terms of their mortgages. More than 1.2 million of these loans have been issued over the past 10 years, and as much as 90 percent may involve some degree of fraud.

In defrauding these veterans and their families with excess fees, the banks allegedly also benefitted by receiving hundreds of millions of dollars in loan guarantees from the VA. That resulted in better prices from the loans that banks and mortgage brokers sold to investors. And as more of these loans went into default or foreclosure, it was ultimately American taxpayers who were on the line.

If true, this type of behavior is illegal and it’s un-American. There is no question about that. Despite what some of our nation’s largest banks may believe, the men and women who have honorably served our country deserve better than this. They have earned as much. Nevertheless, this lawsuit comes on the heels of multiple settlements that have been reached in legal actions against banks that have illegally seized homes, overcharged and defrauded members of the U.S. military. This is an alarming trend that cannot stand. And it must not continue.

The men and women who are serving or have served in uniform should never have to struggle to receive the protections due to them and their families under law. At the same time, we owe it to hard-working taxpayers in Montana and across the country to recover any federal funds that have been lost through the illegal actions of unscrupulous actors. 

As the Department of Justice begins taking more aggressive steps to address this matter, I urge you to work with Congress in a close and productive manner.

I look forward to your response.

Sincerely,
(s)
Jon Tester

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Posted in STOP FORECLOSURE FRAUDComments (0)

Oversight Committee Subpoenas Attorney General Holder for ‘Operation Fast and Furious’ Communications and Documents

Oversight Committee Subpoenas Attorney General Holder for ‘Operation Fast and Furious’ Communications and Documents


WASHINGTON, D.C. – House Oversight and Government Reform Committee Chairman Darrell Issa (R-CA) today announced the issuance of a subpoena to Attorney General Eric Holder, Jr. for Justice Department documents related to the “Operation Fast and Furious” gun walking scandal.

 “Top Justice Department officials, including Attorney General Holder, know more about Operation Fast and Furious than they have publicly acknowledged,” said Chairman Issa. “The documents this subpoena demands will provide answers to questions that Justice officials have tried to avoid since this investigation began eight months ago. It’s time we know the whole truth.”

 The subpoena seeks the following:

 In accordance with the attached schedule instructions, you, Eric H. Holder Jr., are required to produce all records in unredacted form described below:

  1. All communications referring or relating to Operation Fast and Furious, the Jacob Chambers case, or any Organized Crime Drug Enforcement Task Force (OCDETF) firearms trafficking case based in Phoenix, Arizona, to or from the following individuals:

 a. Eric Holder Jr., Attorney General;

 b. David Ogden, Former Deputy Attorney General;

 c. Gary Grindler, Office of the Attorney General and former Acting Deputy Attorney General;

 d. James Cole, Deputy Attorney General;

 e. Lanny Breuer, Assistant Attorney General;

 f. Ronald Weich, Assistant Attorney General;

 g. Kenneth Blanco, Deputy Assistant Attorney General;

 h. Jason Weinstein, Deputy Assistant Attorney General;

 i. John Keeney, Deputy Assistant Attorney General;

 j. Bruce Swartz, Deputy Assistant Attorney General;

 k. Matt Axelrod, Associate Deputy Attorney General;

 l. Ed Siskel, former Associate Deputy Attorney General;

 m. Brad Smith, Office of the Deputy Attorney General;

 n. Kevin Carwile, Section Chief, Capital Case Unit, Criminal Division;

 o. Joseph Cooley, Criminal Fraud Section, Criminal Division; and,

 p. James Trusty, Acting Chief, Organized Crime and Gang Section.

 2. All communications between and among Department of Justice (DOJ) employees and Executive Office of the President employees, including but not limited to Associate Communications Director Eric Schultz, referring or relating to Operation Fast and Furious or any other firearms trafficking cases.

 3. All communications between DOJ employees and Executive Office of the President employees referring or relating to the President’s March 22, 2011 interview with Jorge Ramos of Univision.

 4. All documents and communications referring or relating to any instances prior to February 4, 2011 where the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) failed to interdict weapons that had been illegally purchased or transferred.

 5. All documents and communications referring or relating to any instances prior to February 4, 2011 where ATF broke off surveillance of weapons and subsequently became aware that those weapons entered Mexico.

 6. All documents and communications referring or relating to the murder of Immigrations and Customs Enforcement Agent Jaime Zapata, including but not limited to documents and communications regarding Zapata’s mission when he was murdered, Form for Reporting Information That May Become Testimony (FD-302), photographs of the crime scene, and investigative reports prepared by the FBI.

 7. All communications to or from William Newell, former Special Agent-in-Charge for ATF’s Phoenix Field Division, between:

 a. December 14, 2010 to January 25, 2011; and,

 b. March 16, 2009 to March 19, 2009.

 8. All Reports of Investigation (ROIs) related to Operation Fast and Furious or ATF Case Number 785115-10-0004.

 9. All communications between and among Matt Axelrod, Kenneth Melson, and William Hoover referring or relating to ROIs identified pursuant to Paragraph 7.

 10. All documents and communications between and among former U.S. Attorney Dennis Burke, Attorney General Eric Holder Jr., former Acting Deputy Attorney General Gary Grindler, Deputy Attorney General James Cole, Assistant Attorney General Lanny Breuer, and Deputy Assistant Attorney General Jason Weinstein referring or relating to Operation Fast and Furious or any OCDETF case originating in Arizona.

 11. All communications sent or received between:

 a. December 16, 2009 and December 18, 2009, and;

 b. March 9, 2011 and March 14, 2011, to or from the following individuals:

 

      • Emory Hurley, Assistant U.S. Attorney, Office of the U.S. Attorney for the District of Arizona;
      • Michael Morrissey, Assistant U.S. Attorney, Office of the U.S. Attorney for the District of Arizona;
      • Patrick Cunningham, Chief, Criminal Division, Office of the U.S. Attorney for the District of Arizona;
      • David Voth, Group Supervisor, ATF; and,
      • Hope MacAllister, Special Agent, ATF.

 12. All communications sent or received between December 15, 2010 and December 17, 2010 to or from the following individuals in the U.S. Attorney’s Office for the District of Arizona:

 a. Dennis Burke, former United States Attorney;

 b. Emory Hurley, Assistant United States Attorney;

 c. Michael Morrissey, Assistant United States Attorney; and,

 d. Patrick Cunningham, Chief of the Criminal Division.

 13. All communications sent or received between August 7, 2009 and March 19, 2011 between and among former Ambassador to Mexico Carlos Pascual; Assistant Attorney General Lanny Breuer; and, Deputy Assistant Attorney General Bruce Swartz.

 14. All communications sent or received between August 7, 2009 and March 19, 2011 between and among former Ambassador to Mexico Carlos Pascual and any Department of Justice employee based in Mexico City referring or relating to firearms trafficking initiatives, Operation Fast and Furious or any firearms trafficking case based in Arizona, or any visits by Assistant Attorney General Lanny Breuer to Mexico.

 15. Any FD-302 relating to targets, suspects, defendants, or their associates, bosses, or financiers in the Fast and Furious investigation, including but not limited to any FD-302s ATF Special Agent Hope MacAllister provided to ATF leadership during the calendar year 2011.

 16. Any investigative reports prepared by the FBI or Drug Enforcement Administration (DEA) referring or relating to targets, suspects, or defendants in the Fast and Furious case.

 17. Any investigative reports prepared by the FBI or DEA relating to the individuals described to Committee staff at the October 5, 2011 briefing at Justice Department headquarters as Target Number 1 and Target Number 2.

 18. All documents and communications in the possession, custody or control of the DEA referring or relating to Manuel Fabian Celis-Acosta.

 19. All documents and communications between and among FBI employees in Arizona and the FBI Laboratory, including but not limited to employees in the Firearms/Toolmark Unit, referring or relating to the firearms recovered during the course of the investigation of Brian Terry’s death.

 20. All agendas, meeting notes, meeting minutes, and follow-up reports for the Attorney General’s Advisory Committee of U.S. Attorneys between March 1, 2009 and July 31, 2011, referring or relating to Operation Fast and Furious.

 21. All weekly reports and memoranda for the Attorney General, either directly or through the Deputy Attorney General, from any employee in the Criminal Division, ATF, DEA, FBI, or the National Drug Intelligence Center created between November 1, 2009 and September 30, 2011.

 22. All surveillance tapes recorded by pole cameras inside the Lone Wolf Trading Co. store between 12:00 a.m. on October 3, 2010 and 12:00 a.m. on October 7, 2010.

 ###

source: oversight.gov

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Posted in STOP FORECLOSURE FRAUDComments (0)

WHERE TO REPORT FINANCIAL FRAUD/DOJ

WHERE TO REPORT FINANCIAL FRAUD/DOJ


StopFraud.gov - Financial Fraud Enforcement Task Force

 I would *NOT* make a report by e-mail.  I would send a signature-required package.

http://www.stopfraud.gov/report.html  

Fraudulent activities should always be reported to your local law enforcement office. The following is additional information on how specific types of fraud complaints or cases of suspected fraud can be submitted to federal agencies.

Posted in foreclosure fraudComments (0)

Securities and Investments: Fraud Digest

Securities and Investments: Fraud Digest


Securities and Investments 

Morgan Stanley

Action Date: May 12, 2010 
Location: New York, NY 

EDITORIAL: On May 12, 2010, Morgan Stanley’s Chief Executive announced in response to a Wall Street Journal article that he was unaware of any criminal investigation by the Justice Department that his firm, like Goldman Sachs, misled investors about mortgage-backed derivative deals. The WSJ had reported that Morgan Stanley was the subject of such an investigation. In addition to determining whether the firm was betting against the very products it was promoting to investors, the Justice Department COULD investigate whether Morgan Stanley and other securities firms exercised secret control over the rating agencies, causing risky investments to get the highest ratings by these firms. The Justice Department COULD also investigate whether the mortgage-backed trusts put together by Morgan Stanley were comprised of much riskier mortgages than represented to investors. Another investigation COULD be conducted regarding the pay-outs from the insurance policies behind the CDOs and whether the servicing companies working for the trusts are collecting twice – from the insurance and from the foreclosures – and then turning around, acquiring the foreclosed properties for $10 – and profiting yet a third time. Investigators COULD even determine whether foreclosure mills working for trusts created by Morgan Stanley are now using forged proof of ownership to foreclose because Morgan Stanley never acquired the mortgages, notes and assignments they claimed to have in their vaults, backing the mortgage-backed securities. In the battle between the Justice Department and Wall Street, Goliath is in New York, not D.C. 

Posted in cdo, concealment, conspiracy, foreclosure, foreclosure fraud, fraud digest, goldman sachs, Lynn Szymoniak ESQ, S.E.C., securitizationComments (0)

House Democrats calling for criminal investigation of Goldman Sachs

House Democrats calling for criminal investigation of Goldman Sachs


Rep. Kaptur is the one that keeps grilling Geithner on the AIG scam involving you guessed it …Goldman Sachs!

April 21st, 2010 7:15 PM

House Democrats calling for criminal investigation of Goldman Sachs

 

  By Eric Zimmermann / The Hill

 A growing number of House Democrats are asking the Department of Justice to open a criminal investigation into Goldman Sachs.

 Rep. Marcy Kaptur (D-Ohio) made the request Tuesday in a letter to Attorney General Eric Holder. Since then, almost 20 of her colleagues have signed on.

 The Securities and Exchange Commission (SEC) has filed a fraud action against Goldman for allegedly promoting a package of investments that was designed to fail. But the SEC can only pursue civil actions. Kaptur wants the Justice Department (DOJ) to consider criminal charges as well.

 “[I]f the DOJ is not currently looking into this particular case, we respectfully ask you to ensure that the U.S. Department of Justice immediately open a case on this matter and investigate it with the full authority and power that your agency holds,” Kaptur wrote to Holder.

 “The American people both demand and deserve justice in the matter of Wall Street banks whom the American taxpayers bailed out, only to see unemployment and housing foreclosures rise.”

 Republicans have accused Democrats of engineering the SEC charge to bolster the case for financial reform. Democrats have vehemently denied that claim, but the push for criminal charges isn’t likely to quiet the conservative charges.

 The letter has so far garnered 18 signatures, and the Progressive Change Campaign Committee (PCCC) is organizing a grassroots campaign to urge more lawmakers to sign on. The group says it has gathered 23,000 signatures and organized 2,400 calls to Congress. 

“Now is the moment to make clear: Nobody on Wall Street is ‘too big for jail,’ ” PCCC co-founder Aaron Swartz wrote to supporters.

 The following House Democrats have signed on to Kaptur’s letter: Jim McDermott (Wash.), Diane Watson (Calif.), Chris Carney (Pa.), Raul Grijalva (Ariz.), Keith Ellison (Minn.), John Lewis (Ga.), Charlie Melancon (La.), Tom Perriello (Va.), Betty Sutton (Ohio), Jay Inslee (Wash.), Pete Stark (Calif.), Mike Honda (Calif.), John Salazar (Colo.), Niki Tsongas (Mass.), Alan Grayson (Fla.), David Loebsack (Iowa) and Bob Filner (Calif.).

 Top Republican asserts feds 'looked the other way' from financial fraud

Posted in goldman sachsComments (0)


GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Chip Parker, www.jaxlawcenter.com
Kenneth Eric Trent, www.ForeclosureDestroyer.com
Advertise your business on StopForeclosureFraud.com

Archives