Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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(WSJ)* ...Today...The National Credit Union Administration, via federal regulators, filed two lawsuits in the U.S. District Court in Kansas. These suits are the most aggressive actions to date by federal authorities seeking to recover more than $800 million tied to the sales of bonds backed by risky mortgages to failed credit unions. The lawsuits filed Monday allege that the offering documents provided to credit unions in conjunction with the sale of mortgage-backed securities by.... J.P. Morgan contained "untrue statements of material fact," or "omitted to state material facts"  in violation of state and federal securities laws, according to the complaints. 
 
JP MORGAN CHASE has a HUGE compound in Columbus Ohio
Our OHIO FRAUDclosure related blog/post/commentary  (Link Here)
 
*Today's Wall Street Journal story (Link HERE)
 
Download Chase Complaint (PDF copy HERE) - Courtesy link from Wall Street Journal

 
 
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Although most of you are here to learn, assist, and share information in the fight to help stop FRAUDclosure.....we still like to share and link to pertinent NEWS of national importance which reveals the entities that most of you are up against. These entities (especially the five TBTF banks) still operate and foster environments that facilitate and reward their "Culture of Greed". In our opinion - front and center (along with Goldman Sachs) is JP Morgan Chase. The latest NEWS and a link to same are below,.....but first let me share an opinion along with a couple quotes from the linked article.

OHIO FRAUDclosure: Chase agreed to quickly settle with the SEC (pocket change of $156 million) and use this as "cover and distraction" for the real story, hitting the main stream media, which was the two NCUA suits - seeking $800 Million. (this thread)

However, an intelligent Bankruptcy trustee (Irving Picard) realized the recent settlement was a media savvy and public relations move by JP Morgan Chase. So Picard, who is seeking to disgorge the enormous profits from the criminal entities (JP Morgan Chase) that assisted and facilitated Bernard Madoff crimes .....had a media savvy move of his own!

Picard waited until the end of the business day (and week) to amend his complaint thereby preventing Chase from any major "media spin". So.. what was this major news...that was filed AFTER the close of business yesterday???
In an amended complaint, trustee Irving Picard now seeks $19 BILLION DOLLARS instead of the previous $6 Billion (of which $5.4 Billion was a requested "damages" fine) The JP Morgan "spin department" was unable to respond - except with an email (a copy of a previous scripted answer). The previous copied email was updated only with a comment that "JP Morgan did not know about or in any way become a party to the fraud orchestrated by Bernard Madoff,"

OHIO FRAUDclosure translation: We took billions in profits, from these moving-around-the-money transactions, by simply pretending to not know what was happening. You know...business transactions...you know?? ..really...we didn't know what he was doing!..........Can you imagine all the cell phones ringing yesterday on a FRIDAY and around 4pm-5pm.....just as all the executives were jetting off to their vacation homes, or heading off for the "Week-End in the Hamptons". GREAT move Picard!

From the news story (REUTERS-Here)...: Picard disclosed the amended complaint after U.S. markets closed, it is said to also include a demand that the case be heard before a jury. The amended complaint was filed... just three days after the second-largest U.S. bank agreed to pay $153.6 million to settle U.S. Securities and Exchange Commission fraud charges. (Had to wait for the noise to die down from that!) and the complaint includes additional allegations, (oh my!) including that two former employees of an unnamed financial institution (hmmm??) had seen....  "nearly daily circular transactions" between accounts at their employer and at Chase...and... "JP Morgan Chase's bankers literally watched the fraud unfold before their very eyes," Deborah Renner, a lawyer representing Picard, said in a statement.

In the complaint made public in February, Picard accused JP Morgan of being "thoroughly complicit" in Madoff's fraud and ignoring red flags. JP Morgan now has until August 1 to (spin, pay-off, settle, or further cover-up) respond to the amended complaint, Picard said.

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