The hits keep coming for Attorney Sam Shaulson (pictured, left) and the scum bucket Citibank rats who opened a can of worms they can't shut now at MCAD. See, the Citibank scum buckets accused me of being a scammer, but they wrote the book on it and now they are trying to scam MCAD.Almost every multinational banking scam involves Citibank. I've been listing Enron, Ohio, California, Mexico, Russia and some of the others here and at Citibankisracist blog, but now here is yet another case closer to home and ongoing even. I have notified the authors of this 2009 Wall Street Journal story, "Citi, SEC Are in Talks to Settle Asset Probe." I'll tell you whose assets are getting probed: Those of the American Public if you catch my drift.
"Citigroup Inc. is in the early stages of negotiating with the Securities and Exchange Commission to settle an investigation into whether it misled investors by not properly disclosing the amount of troubled mortgage assets it held as the market began to implode in 2007, people familiar with the matter say.
Among issues being debated inside the SEC is whether, as a recipient of government-rescue funds, Citigroup should pay a large penalty in the case. There is concern at the SEC about the notion of financial firms in effect using taxpayer money to pay penalties, people close to the situation say. Citigroup received $45 billion from the government's Troubled Asset Relief Program and plans to raise an additional $5.5 billion in capital from private investors."
Wowzers. Yet another instance of a design, pattern and practice of corporate deception, a Corporate ne're do well foisting its malfeasance unto the shoulders of the American (and World) Public. We are dealing with the lowest of the low. MCAD will have to fumigate the hallways when these guys walk in, what a bunch of corporate scum-sucking rats. Friday's filing.
Shaulson_SEC_Mortgage_Enron_hijab_Memorandum.doc.
US Bank Money Laundering -
ReplyDeleteEnormous By Any Measure
By James Petras
Professor of Sociology, Binghamton University
9-1-2
For example, in the case of Raul Salinas, PB personnel at Citibank helped Salinas transfer $90 to $100 million out of Mexico in a manner that effectively disguised the funds' sources and destination thus breaking the funds' paper trail.
In routine fashion, Citibank set up a dummy offshore corporation, provided Salinas with a secret code name, provided an alias for a third party intermediary who deposited the money in a Citibank account in Mexico and transferred the money in a concentration account to New York where it was then moved to Switzerland and London.
The PICs are designed by the big banks for the purpose of holding and hiding a person's assets. The nominal officers, trustees and shareholder of these shell corporations are themselves shell corporations controlled by the PB. The PIC then becomes the holder of the various bank and investment accounts and the ownership of the private bank clients is buried in the records of so-called jurisdiction such as the Cayman Islands.
Private bankers of the big banks like Citibank keep pre-packaged PICs on the shelf awaiting activation when a private bank client wants one. The system works like Russian Matryoshka dolls, shells within shells within shells, which in the end can be impenetrable to a legal process.
The complicity of the state in big bank money laundering is evident when one reviews the historic record. Big bank money laundering has been investigated, audited, criticized and subject to legislation; the banks have written procedures to comply. Yet banks like Citibank and the other big ten banks ignore the procedures and laws and the government ignores the non-compliance.
I most definitely agree! As an employee I'e witnessed it first hand.
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