This article was published as “U.S. Widens Wells Fargo Sales Probe to Wealth Management Unit — 2nd Update”
These wire transfers were being sent to known money laundering Banks in Switzerland and throughout the Caribbean. The funds would then make its way back to family members of DOJ employees, Congressmen and Senators to insure there would be no investigations or prosecutions of those involved.
The wire transfers totaled billions over this ten-year period. The bulk of the funds often ended up in the hands of bad actors, hostile to the United States. This activity was being tracked because it had National Security Implications. The genesis of the funds came from a coordinated criminal enterprise that started with the three Wall Street ratings firms, Moody’s, Fitch and S&P Global. These firms would offer to sell fraudulent bond ratings to multiple Puerto Rican municipalities who would then raise billions in bond proceeds, skimming billions more to wire offshore. The largest period of activity for these events was between 2009 and 2015 but continues today. In an effort to stifle any investigations into this multi-billion-dollar enterprise Political Appointees and Politicians like Eric Holder, Robert Mueller, Chuck Schumer, Paul Ryan, Elizabeth Warren, Former Treasury Secretary Lew, Richard Blumenthal and Diane Feinstein went to great lengths to cover up this activity. In fact, in one discussion this reporter had with a frustrated DOJ employee, I was told that Chuck Schumer put in great effort to have Preet Bharara appointed in New York so he could better control who the DOJ invested and prosecuted. When over 15 complaints were filed with the DOJ from victims of this crime, Chuck Schumer employed Mr. Bharara’s help to make sure no Wall Street Executives or Firms for that matter, were investigated or prosecuted, something he was also called on to do in the 2008 financial crisis.
Chuck Schumer, Elizabeth Warren, Richard Blumenthal and Diane Feinstein were among the first Politicians who tried to monetize this opportunity for themselves by attempting to pass legislation that would prevent Bond Holders from suing the Wall Street Firms. They did this even though they were fully informed about the fraud taking place. The SEC also received multiple complaints about the nature of this on-going securities fraud. Initially it was brought to the attention of then SEC Commissioner, Mary Jo White who made sure the complaints went nowhere. Mary Jo then left the SEC to work for a Wall Street Law Firm that defends the very same Wall Street Firms. Her salary is now a multiple of what it was when she worked for the American people. It appears the corruption and malfeasance in Washington is completely out of control. I believe that there have been increasing leaks about this matter and other matters because the mostly honest rank in file of the DOJ and Intelligence Agencies are tired of being stifled by the corruptible Political Appointees within their organizations. There is much more to disclose on this story and I look forward to writing future articles that will continue to shine a light on this. Mr. Lawless has 25 years in in senior and executive banking experience and writes for a number of financial publications. Confirmation of Story Sources http://caribbeannewsnow.com/topstory-Personal-conflicts-obstruct-FBI-investigation-into-Puerto-Rico-fraud-29906.html This is a link to a story confirming two sources, my source and the editors. https://www.dropbox.com/sh/ry8rwczcvkzv7qa/AABSoEKlEdUs5t_dti0L5nUNa?dl=0 This is a link to a drop box with critical documents. https://www.youtube.com/watch?v=Tysqoqf9B7I This is a link to a video recapping 60 minutes of FBI and SEC Testimony.
This is the structure of this Gov’t supported criminal operation Politicians put compliant officials in the right positions AG Eric Holder FBI Dir Mueller Treasury Sec Lew NY AG Preet Bharara SEC Commissioners Others Mueller directs all cases to Bharara. Bharara makes sure the cases go nowhere. If a case slips by, say a complaint handled in the FBI Kansas office, Holder has one of his people in the AG make sure it is dead on arrival In 2006-2008 American’s lost between 6-8 trillion dollars. This was made possible almost exclusively by the fraudulent credit ratings issued by Moody’s Fitch and S&P. No one was every investigated or prosecuted. The recent 70 billion-dollar Puerto Rico bond default was so obviously criminal, people panicked. Citibank was among the first to actually sell these fraudulent bonds while Treasury Secretary Lew was in charge of Citibank. As Treasury Sec he at first tried to get Congress to do a 100% tax funded bailout. When that didn’t work he put together legislation that revoked all the legal rights of the bond holders and prevented them from suing! There really is much more here. It will have to wait. The Ratings Agencies (Moodys, Fitch and S&P) Rating Agency issues Fraudulent Credit Ratings Gov’t Agency, Private Company Issue Fraudulent Bonds Bond Issuers Skim Money Wire Funds Offshore Some of the money is wired back Gov’t Officials, DOJ Personnel Company leadership, Politicians all get their cut There was however a problem that the participants didn’t realize or thought they could control. Our Intelligence Agencies were tracking these sizable wire transfers. For over ten years the wires were being traced and phone conversations were being recorded. To launder such large sums of money most of the wires went to corrupt countries that were hostile to the United States, directly funding their anti-US or terrorist activities. In addition to the good news that the Intelligence Agencies have 10 plus years of evidence. The Board of Directors and Executives at the Rating Agencies are looking at likely life prison sentences for their roles. The Board of Directors were all sent Federal Express Packages of information telling them about all this. The Executives were all notified. No one at the Rating Agencies reported this to the DOJ or the SEC The Executives and Board Members lied to their shareholders and Analysts about the financial jeopardy their activities were putting the shareholders in. They funded operations against the United States. The Board Members and Executives are likely giving up their Gov’t Contacts and Political relationships to just stay out of the papers. What will they do to stay out of jail? Interesting fact. The FBI Anti-Trust Division says there was no collusion between the Rating Agencies but the Agencies all gave the same fraudulent ratings at the same time?? There is so much more to tell…… I hope this has helped you.