Urgent: Arrests Imminent
Posted 17 December 2012 - 08:50 PM
Posted 17 December 2012 - 08:58 PM
If "no one is able to tell me if people got arrested" means "I have reading comprehension issues" then you might have a point. If you think I'm actually going to go through 45 pages of pictures of forged currency or you tube videos of pyramids, you are as crazy as you actually are
You should try doing your own research sometime, versus wanting to be hand-fed information.
Posted 17 December 2012 - 11:24 PM
Posted 23 December 2012 - 03:17 PM
Egypt’s vice president, Central Bank governor resign
Saturday, 22 December 2012
By AL ARABIYA WITH AGENCIES
Egypt’s vice president, Mahmoud Mekky, and Central Bank governor Farouk el-Okadah announced resignations on Saturday, state television reported, on the day of a referendum on a new constitution that leaves unclear whether his position would be maintained.
In a statement obtained by AFP, Mekki said he was stepping down because “political work does not suit my professional character as a judge.”
Central Bank governor Okadah handed his resignation to President Mursi during a meeting later on Saturday.
Vice President Mekky said he had initially submitted his resignation on November 7, but delayed it until now because of a series of events, including the Israel-Hamas war in Gaza and a decision by Mursi last month to bolster his own powers.
“I saw that today (Saturday) was an appropriate time to announce my resignation as vice president of the republic, and I will continue to volunteer as a soldier,” he said.
Mekky took a leading role in hosting “national unity” talks called by President Mohamed Mursi, although the main opposition politicians stayed away.
Mekki, 58, was a respected judge before Mursi named him to the post in August.
He led judicial opposition to ousted leader Hosni Mubarak, but eschewed calls to become a presidential candidate himself, saying he wished to stay politically independent.
Mekki had previously intimated to Egyptian media that he considered resigning. His brother, Ahmed Mekki, is Mursi’s justice minister. Mekki was only the second Egyptian vice president in more than 30 years.
Mubarak never filled the post during his three-decade tenure, until he named his intelligence chief, Omar Suleiman, to the job in February 2011, in the midst of the revolt that eventually toppled him.
Born in Alexandria in 1954, Mekki studied at the country’s police academy and is a former officer in the interior ministry, which he eventually left to join the judiciary.
Posted 23 December 2012 - 03:19 PM
Ex-Singapore Banker Charged in U.S. Over Olympus Fraud
By David Glovin - Dec 20, 2012 4:56 PM PT
A former Singapore banker who allegedly helped Olympus Corp. (7733) engage in what U.S. prosecutors said was a $1.7 billion accounting fraud was arrested in California.
Chan Ming Fon was arrested in Los Angeles yesterday and faces U.S. fraud charges in New York, Preet Bharara, U.S. Attorney in New York City, said in a statement. Chan, a citizen of Taiwan who lives in Singapore, made an initial appearance in federal court in Los Angeles yesterday.
Enlarge image Ex-Singapore Banker Charged in U.S. in Olympus Fraud
According to U.S. prosecutors, former Singapore banker Chan Ming Fon’s involvement in the $1.7 billion accounting fraud ran from 2004 to 2010.
Olympus, a Tokyo-based camera and endoscope maker, restated five years of earnings last year and took a $1.3 billion cut in its net assets after admitting it paid inflated fees on takeovers and overpaid for three Japanese companies to conceal past investment losses. On Sept. 25, former Olympus executives including ex-Chairman Tsuyoshi Kikukawa pleaded guilty in Japan to hiding losses in one of Japan’s biggest frauds.
“Chan Ming Fon was handsomely paid to play an international shell game with hundreds of millions of dollars of assets in order to allow Olympus to keep a massive accounting fraud going for years, duping its auditors and shareholders,” Bharara said in the statement.
The 13-year accounting fraud at the world’s biggest maker of endoscopes was exposed last year by former President Michael Woodford, who was dismissed in October 2011 after publicly questioning fees paid by Olympus for takeovers.
Olympus later said it attempted to conceal past losses by inflating fees to advisers on the $2.1 billion acquisition of London-listed Gyrus Group Plc in 2008 and overpaying for three Japanese companies.
According to U.S. prosecutors, Chan’s involvement in the scheme ran from 2004 to 2010. He worked as a vice president at financial institutions that prosecutors didn’t identify. One of his responsibilities was to manage a Cayman Islands entity called SG Bond Plus Fund that purportedly held Olympus funds invested in government bonds and other secure investments, prosecutors said.
At the direction of Olympus executives, Chan transferred the portfolio to an Olympus-controlled entity called Easterside Investments Ltd, prosecutors said. Easterside, based in the British Virgin Islands, liquidated the bonds and used the money to repay an undisclosed, outstanding loan, they said.
“These improper transfers and the concealed repayment of the loan allowed Olympus to present a significantly stronger financial condition of itself to its auditor, and ultimately, its investors,” Bharara said.
Chan also submitted false records about the portfolio’s value to Olympus’ outside auditor, prosecutors said. Confronted by agents of the U.S. Federal Bureau of Investigation this week, he “confessed” that he was paid more than $10 million for “purportedly investing money on behalf of Olympus,” Bharara said.
Chan is accused of conspiracy to commit wire fraud.
Founded in 1919 as a microscope and thermometer maker, Olympus produced its first camera in 1936 and a predecessor to the modern-day endoscope in 1950, according to its website. The company controls 75 percent of the global market for endoscopes, instruments doctors use to peer inside the body to help diagnose disease.
The case is U.S. v. Chan Ming Fon, 12-mag-3307, U.S. District Court, Southern District of New York (Manhattan).
Posted 31 December 2012 - 12:40 PM
JERUSALEM — Avigdor Lieberman, Israel's controversial former foreign minister, was indicted Sunday on charges of fraud and breach of trust.
The indictment, issued in a Jerusalem court, follows a long, drawn-out legal investigation into accusations of corruption against Lieberman, known for his uncompromising right-wing positions toward the Palestinians and Israel's own Arab population.
It also comes three weeks before general elections and casts a shadow over Prime Minister Benjamin Netanyahu's senior ally, whose political future depends on the legal outcome.
Originally investigated for more serious charges of money-laundering and bribery, Lieberman was ultimately indicted in a side case that grew out of the primary investigation over the past decade.
According to the indictment, Israeli investigators in confidence asked the Israeli Embassy in Belarus to ask local authorities for discreet assistance on the probe into Lieberman’s activities. Israeli Ambassador Zeev Ben-Aryeh passed this information on to Lieberman when the latter, then deputy prime minister, visited Belarus in 2008.
Posted 31 December 2012 - 12:42 PM
Dec 28 (Reuters) - Two former executives at an Icelandic bank which collapsed in the 2008 financial meltdown were sentenced to jail on Friday for fraud which led to a 53 million euro loss, in the first major trial of Icelandic bankers linked to the crisis.
All three of the small North Atlantic island's top bankscollapsed in quick succession in October 2008 due to big debts incurred during a rapid overseas expansion.
Glitnir was the first to fall after the collapse of Lehman Brothers caused international credit markets to freeze up.
A Reykjavik court sentenced Glitnir's former chief executive, Larus Welding, and former head of corporate finance, Gudmundur Hjaltason, each to nine months in jail, of which six months were suspended for two years. They had denied the charges.
Prosecutors said the two approved a loan to a company which owned shares in Glitnir so that the company could in turn repay a debt to Morgan Stanley.
The decision, taken outside the regular decision-making process, meant Glitnir was too exposed to the company and cost the bank at least 53.7 million euros ($71 million), the prosecution said.
The sentence was less than the jail terms of at least five years demanded by Iceland's special prosecutor, who is looking into alleged wrongdoing connected to the crisis.
"We have a conviction, which is of course the main thing," prosecutor Holmsteinn Sigurdsson told reporters outside the courtroom when asked whether he was disappointed with the length of the sentence.
The special prosecutor is also looking into alleged wrongdoing linked to the collapse of the other two former topbanks, Landsbanki and Kaupthing. ($1 = 0.7563 euros) (Reporting by Omar Valdimarsson; Writing by Patrick Lannin in Stockholm; Editing by Pravin Char)
Posted 31 December 2012 - 01:14 PM
The Tehran Police force has announced that 88 "gold and foreign currency brokers" have been arrested, as disputes have intensified between the Iranian government and the Central Bank over handling the crisis in the currency and gold markets.
Police officials reported today, December 30, that 88 people had been arrested for being engaged in the illegal and criminal handling of gold and foreign currencies, the Fars News Agency reports.
The detainees are charged with selling "fake gold coins, stealing money from their customers, and distributing counterfeit dollars and low-quality coins."
The possible distribution of $5 billion in counterfeit money was noted in Parliament in recent months.
The currency market has been highly volatile in Iran in the past several months, and the government previously had announced a number of arrests prior to this, also in connection with the fluctuations in the currency market.
Some MPs have accused the Ahmadinejad administration of deliberately keeping the foreign currency market in a state of fluctuation in order to make greater profit from the sale of state dollars.
The government has denied the allegations and blames the intensification of international sanctions for the steep fall in the national currency.
In first half of 2009, the dollar was traded in Iran at about 10,000 rials, but in the past year the exchange rate in the free market has risen to 35,000 rials.
EU and U.S. sanctions on Iran's oil and financial sector have reduced Iran's oil revenues by half, which has had a direct effect on Iran's foreign currency reserves.
Posted 02 January 2013 - 11:47 AM
Here's a list ok
Final green light was given last night.
He said the first arrests will be:
Hillary Clinton - as soon as she come back on US soil. She will be handcuffed at taken off the plane.
Eric Holder - for mounting evidence things going much bigger than Fast & Furious.
Valerie Jarrett - for some illegal activity in the white house.
Rahm Emmanuelle - For illegal activities in Chicago and at the white house
George Bush Sr. - For War Crime and international extortion and drug running.
Posted 02 January 2013 - 05:32 PM
Posted 07 January 2013 - 03:20 PM
By Nate Raymond and Lynnley Browning
NEW YORK | Fri Jan 4, 2013 8:27am EST
(Reuters) - Wegelin & Co, the oldest Swiss private bank, said on Thursday it would shut its doors permanently after more than 2 1/2 centuries, following its guilty plea to charges of helping wealthy Americans evade taxes through secret accounts.
The plea, in U.S. District Court in Manhattan, marks the death knell for one of Switzerland's most storied banks, whose original European clients pre-date the American Revolution. It is also potentially a major turning point in a battle by U.S. authorities against Swiss bank secrecy.
A major question was left hanging by the plea: Has the bank turned over, or does it plan to disclose, names of American clients to U.S. authorities? That is a key demand in a broad U.S. investigation of tax evasion through Swiss banks.
"It is unclear whether the bank was required to turn over American client names who held secret Swiss bank accounts," said Jeffrey Neiman, a former federal prosecutor involved in other Swiss bank investigations who is now in private law practice in Fort Lauderdale, Florida.
"What is clear is that the Justice Department is aggressively pursuing foreign banks who have helped Americans commit overseas tax evasion," he said.
Charles Miller, a Justice Department spokesman, declined to comment immediately.
Wegelin admitted to charges of conspiracy in helping Americans evade taxes on at least $1.2 billion for nearly a decade. Wegelin agreed to pay $57.8 million to the United States in restitution and fines.
Otto Bruderer, a managing partner at the bank, said in court that "Wegelin was aware that this conduct was wrong."
He said that "from about 2002 through about 2010, Wegelin agreed with certain U.S. taxpayers to evade the U.S. tax obligations of these U.S. taxpayer clients, who filed false tax returns with the IRS."
INITIALLY VOWED TO RESIST
When Wegelin last February became the first foreign bank in recent memory to be indicted by U.S. authorities, it vowed to resist the charges. The bank, founded in 1741, was declared a fugitive from justice when its Swiss-based executives failed to appear in U.S. court.
The surprise plea effectively ended the U.S. case against Wegelin, one of the most aggressive bank crackdowns in U.S. history.
"Once the matter is finally concluded, Wegelin will cease to operate as a bank," Wegelin said in a statement on Thursday from its headquarters in the remote, small town of St. Gallen next to the Appenzell Alps near the German-Austrian border.
But the fate of three Wegelin bankers, indicted in January 2012 on charges later modified to include the bank, remains up in the air. Under criminal procedural rules, the cases of the three bankers - Michael Berlinka, Urs Frei and Roger Keller - are still pending.,
Although Wegelin had about a dozen branches, all in Switzerland, at the time of its indictment, it moved quickly to wind down its business, partly through a sale of its non-U.S. assets to regional Swiss bank Raiffeisen Gruppe.
A corporate indictment can be a death knell. In 2002, accounting firm Arthur Andersen went out of business after being found guilty over its role in failed energy company Enron Corp. A 2005 Supreme Court ruling later overturned the conviction, but it was too late to save the company.
Wegelin, a partnership of Swiss private bankers, was already a shadow of its former self - it effectively broke itself up following the indictment last year by selling the non-U.S. portion of its business.
Dozens of Swiss bankers and their clients have been indicted in recent years, following a 2009 agreement by UBS AG, the largest Swiss bank, to enter into a deferred-prosecution agreement, turn over 4,450 client names and pay a $780 million fine after admitting to criminal wrongdoing in selling tax-evasion services to wealthy Americans.
William Sharp, a tax lawyer in Tampa, Florida, with many U.S. clients of Swiss banks, said Wegelin's plea "should serve as a wake-up call" to the world banking community servicing U.S. clients to takes steps to ensure compliance with U.S. law.
Sharp called Wegelin's change of heart "shocking."
Banks under U.S. criminal investigation in the wider probe include Credit Suisse, which disclosed last July it had received a target letter saying it was under a grand jury investigation.
Zurich-based Julius Baer and some cantonal, or regional, banks are also under scrutiny, sources familiar with the probes previously told Reuters. So are UK-based HSBC Holdings and three Israeli banks, Hapoalim, Mizrahi-Tefahot Bank Ltd and Bank Leumi, sources also said previously.
Those banks have not commented on the inquiries.
In a statement after the plea, Assistant U.S. Attorney General Kathryn Keneally said it was a top Justice Department priority "to find those who continue to shirk their tax obligations," as well as those who help them and profit from it.
"The best deal now for these folks is to come in and 'get right' with the IRS, before either the IRS or the Justice Department finds them," she said.
Under its plea, Wegelin agreed to pay the $20 million in restitution to the IRS as well a civil forfeiture of $15.8 million, the Justice Department said.
Wegelin also agreed to pay an additional $22.05 million fine, the Justice Department said. U.S. District Judge Jed Rakoff, who must approve the monetary penalties, set a hearing in the case for March 4 for sentencing.
Last year, the U.S. government separately seized more than $16 million of Wegelin funds in a UBS AG account in Stamford, Connecticut, via a civil forfeiture complaint.
Since Wegelin has no branches outside Switzerland, it used UBS for correspondent banking services, a standard industry practice, to handle money for U.S.-based clients.
In court papers, Bruderer said that Wegelin "believed it would not be prosecuted in the United States for this conduct because it had no branches or offices in the United States and because of its understanding that it acted in accordance with, and not in violation of, Swiss law and that such conduct was common in the Swiss banking industry."
The case is U.S. v. Wegelin & Co et al, U.S. District Court, Southern District of New York, No. 12-cr-00002.
(Additional reporting by Martin De Sa'Pinto in Zurich; Editing by John Wallace, Steve Orlofsky and Peter Cooney)
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