Tuesday, February 26, 2013

STANFORD BANK RECEIVER TAKES GIANT STEPS & SUES EVERYBODY CONNECTED

STANFORD BANK RECEIVER SUES EVERYBODY


Ralph Janvey, the court-appointed receiver in the Stanford International Bank Ltd. case, has brought a Federal civil action* against every major officer and director employed at the Ponzi scheme. for Breach of Fiduciary Duty. The action names the Stanford Chief Compliance officer, its General Counsel, and all the other principal officers and directors.

Some of the 23 others named are below, some of which have already been charged in criminal court:

Executive Director
Treasurer
Chief Marketing Officer
Internal Auditor
Chief Accounting Officer
Chief Investment Officer
President of Mexico Group
President of the Swiss Group
Managing Director for Merchant Banking


These individuals, not charged in the criminal case, who have scattered to the four winds, will now find it a bit difficult to keep their new jobs. This lawsuit makes them a liability to their new employers, not to mention potential damage to the new company's reputation when you are arrested, in the presence of media, at your new desk.

 The moral of the story: if you uncover evidence that indicates that the company where you work is a Ponzi scheme, you need to: (1) resign forthwith, taking your evidence with you (2) employ competent counsel, and (3) with your counsel's advice, cut a deal for immunity, in exchange for your testimony. Do do any less could expose you to civil litigation, and even possible criminal indictment.


___________________________________________________________________
* Ralph Janvey etc. vs. Pablo Alvarado et al, Case No.: 13-cv-0775 (ND TX).

Monday, February 25, 2013

ANTIGUA SERVED WITH SECOND MAJOR FEDERAL LAW SUIT

FROM THE - JOURNALS of Monte Friesner – Criminal & Intelligence Analyst and Consulaire for WANTED SA
~Contributed & Written by Kenneth Rijock ~

 

ANTIGUA NAMED IN SECOND FEDERAL LAWSUIT BY STANFORD INVESTORS



The Government of Antigua also faces additional allegations of rampant official misconduct in a United States courtroom. The Stanford Investors Committee, as assignee of the Receiver, has filed a second action in US District Court in Texas, against Antigua & Barbuda, which may owe as much as $240m, in unpaid loans, extensions of credit, and other payments, to the court-appointed Receiver in the Stanford case. Anyone who is reviewing the other case that I reported on this weekend*, should also examine this civil suit as well.

The allegations are, frankly, scathing, especially involving former Antiguan regulatory chief, Leroy King, who reportedly has first-hand knowledge of governmental corruption in Antigua, at the highest level, which the country's leadership fears he will disclose, if extradited to Texas at trial. Antigua will suffer major reputation damage when the media detail all the corruption alleged by the plaintiff.

Amongst the claims:

(A) That the Government of Antigua was an integral component of Stanford's fraudulent enterprise.
(B) That Antigua obstructed the SEC investigation
(C) That Antigua, which lacked creditworthiness, took an estimated $90m in loans from Stanford, which were actually investors' CD money. none were ever repaid, or restructured.
(D) Stanford and Antigua were "blood brothers" in the Ponzi scheme.

The causes of action listed in the Complaint:

(1) Breach of Contract.
(2) Anticipatory Breach of Contract.
(3) Recovery of Fraudulent Transfers.
(4) Aiding, Abetting or Participation in a Fraudulent Scheme.
(5) Aiding, Abetting and Participation in Breach of Fiduciary Duty.
(6) Violations of the Texas Securities Act.

The case has been transferred, for probable consolidation with one or more of the other related actions. We shall be reporting upon the allegations contained in the third civil suit shortly.
___________________________________________________________________________
* Official Stanford Investors Committee vs. Bank of Antigua, et al, Case No.: 13-cv-0762-N (ND TX).
WANTED SA kindly thanks US Treasury, Kenneth Rijock, AFP, Reuters, BBC, Associated Press, DEA, FBI, ICE, Westlaw, Arutz Sheva, and all the Parties, Press, Journalists, Law Enforcement and Securities forces  who have contributed to the many articles and their sincere opinions and statements.
WANTED SA states that the facts and opinions stated in this article are those of the author and not those of WANTED SA. We do not warrant the accuracy of any of the facts and opinions stated in this article nor do we endorse them or accept any form of responsibility for the articles.

Sunday, February 24, 2013

OKKE ORNSTEIN CONVICTED CRIMINAL STILL ON THE LOOSE

FROM THE - JOURNALS of Monte Friesner – Criminal & Intelligence Analyst and Consulaire for WANTED SA
~Contributed & Written by Kenneth Rijock ~

CONVICTED FRAUDSTER AT LARGE IN PANAMA


The Dutch convicted and sentenced fraudster, Okke Ornstein, remains at large in the Republic of Panama, and you are advised to contact the authorities should you encounter him. Ornstein, who was the former general manager of convicted Ponzi schemer and money launderer, Marc Harris, threatened, in writing, to take the life of Harris, in an extortion scam. He is also linked to an unsolved murder in Panama City, and another death threat delivered in Panama City. In short, his is not the kind of individual you want to walk down a dark street with. Ornstein fled to Panama during a criminal investigation of his involvement in child pornography in the Netherlands.

When apprehended, Ornstein will begin serving a twenty month sentence in one case, and 24 months another case, both in a Panamanian prison not known for its amenities.

Sunday, February 17, 2013

HAMAS CREATES NEWS MEDIA TO DISTRIBUTE PROPAGANDA

 

FROM THE - JOURNALS of Monte Friesner – Criminal & Intelligence Analyst and Consulaire for WANTED SA
~Contributed & Written by Kenneth Rijock ~

HAMAS CREATES ITS OWN NEWS AGENCY



When performing due diligence investigations, you are advised that any information that you may retrieve from Al Rai Agency, located in Gaza, may be more propaganda than truth. Al Rai is the newly-created official  new agency of Hamas, and the announcements regarding it indicate that it shall follow the "official government line" on news and events.

Whilst you may use it to confirm general information about Gaza, it is doubtful that it will explore any topics involving corruption of government officials, money laundering, or bulk cash smuggling, all of which constitute serious issues in Gaza. You can expect mainly positive spins on Gaza politics, but details of Gaza PEPs may not be accurate, and may contain disinformation. You are advised to search elsewhere, if you want objectivity.

Saturday, February 16, 2013

IRAN HIRES PROFESSIONAL "MONEY LAUNDERERS |

 

FROM THE - JOURNALS of Monte Friesner – Criminal & Intelligence Analyst and Consulaire for WANTED SA
~Contributed & Written by Kenneth Rijock ~

IS MAN WITH 300m BOLIVAR CHEQUE IRAN'S PRIMARY MONEY LAUNDERER ?


Tahmasb Mazaheri, the former Governor of the Central Bank of Iran who was caught with the infamous three hundred million Bolivar Cheque in Germany, is not just a former senior government official. He is also the director of record of a Venezuelan bank cleverly organised with a name that is deceptively similar to one of the Western Hemisphere's most prominent institutions, the Inter-American Development Bank. That is a classic money laundering tactic, used by yours truly many times. So the question arises, is Mazaheri the kingpin of the Iranian money launderers ?

The Venezuelan-Iranian front bank, which was immediately sanctioned by the United States, does NOT serve the Venezuelan public. It is an obvious facilitator of Iranian sanctions evasion, and money laundering activity. I have seen the corporate documents; it was formed in record time, and does not appear to play a role in the Venezuelan domestic banking system.

What about Mazaheri ? It is reported that the German customs officials did not arrest him. He does face a $1.4m  fine, but it is understood that he is now back in Iran. And the infamous cheque, reportedly signed, in Iran, by a yet-unnamed director of the government-owned Bank of Venezuela; who was the payee, and why won't German officials release a copy ? Far too many unanswered questions for Germany. They can do better than that. 

Tuesday, February 5, 2013

TWENTY DISTRIBUTORS OF ANONYMOUS PREPAID CARDS ARE OPERATING FREELY IN PANAMA.


There are more than twenty companies, currently operating in the Republic of Panama, who are distributing anonymous prepaid debit cards*, and which are not requiring the customers to properly identify themselves, or to disclose the Source of Funds. The cards are uploaded prior to delivery; there is no limit on the number of cards a user can acquire, and they can be redeemed literally anywhere in the world. The number of criminal, terrorist financing, and sanctions evasions uses for these cards is infinite.Who owns these companies, and how did they obtain government approval to operate ?
 Some of the individuals involved are close relatives of senior government officials; others are known to have made substantial payments to corrupt officers in the relevant regulatory agencies. These illegal payments actually continue to be made after the necessary approvals are obtained. Employees at the card companies' local offices are also allegedly receiving illegal gratuities to approve these companies.Why are anonymous prepaid cards such a major industry in Panama ? Inasmuch as a significant number of the parties involved are known to be Venezuelan nationals, (some of whom who have accounts at the Venezuelan banks with branches in Panama City), and their illicit purposes, and uses for these cards, include:
(1) Evading the global sanctions in place against Iran.
(2) Terrorist financing: criminal profits, earned by Hezbollah Venezuela, being transferred to Beirut.
(3) Funds obtained by corrupt Venezuelan Politically Exposed Persons (PEPs), being bribes, kickbacks, government money stolen from accounts, and money from padded government contracts.
(4) Narcotics profits.
Though complaints regarding some of these companies were filed with the appropriate Panamanian ministries in the past, investigations have not been conducted, and it is understood that certain corrupt officials were responsible for quashing all enquiries. These same officials are alleged to have received illicit compensation from operators of the anonymous card companies.

Likewise, though complaints were also lodged with senior local officers at the card companies, in Panama City, these were also dismissed out of hand, without any investigation.Some of these anonymous card distributors are now believed to be under investigation in Panama City. When more information becomes, known, we shall update this story. If a bank customer attempts to give you a debit card that does not have his or her name imprinted upon it, make a copy of the card, decline to accept it, and immediately report it as a suspicious activity, to your regulator, and to bank counsel, who may choose to notify law enforcement.
______________________________________________________________________
* These cards are also known as Stored Value Cards.

~Contributed & Written by Kenneth Rijock ~

Pre Paid Anonymous Cards Are Tool For Money Laundering & Criminal Activities



 Several readers have, after reading last week's article, "Alert for Distributor of Anonymous Prepaid Cards in Panama"
asked how an unlicensed entity could have been able to create, and manage such an illicit enterprise. The operators, who sold what are referred to as "metal cards*," violated every compliance principle in the book. How did they get started in the first place ? Read on.


Add caption
(2) The Gibraltar company then sponsored a UK entity with the two credit card giants. Again, no local laws were violated

(3) The UK entity then distributed anonymous cards in the Republic of Panama, notwithstanding that it had no license to do so, nor was it properly registered in the jurisdiction.
Note that these are NOT the types of cards that are reloaded by users whose names are imprinted upon the face of the cards. These are blank cards, with no identification thereon. Sometimes referred to as "white cards," they can traverse most international frontiers without violating local laws on currency movement. Large amounts of funds are "topped off," as they say in Gibraltar, meaning that funds are uploaded prior to their delivery. Again, absolutely no Customer Identification or Source of funds enquiries are ever conducted. The user can take his or her criminal proceeds anywhere in the world and redeem the value, again without a paper trail. Billions of dollars in illicit funds, originating in Venezuela, Colombia and Mexico, have been adroitly and safely placed, using the anonymous stored card.Look at the advert below:"Does not require identification""No application and no credit check""No bank account required""Chip and PIN security""Accepted at more than 25m establishments""Purchase securely on the the Internet"
One client mentioned to me his story about moving into a suite of offices in Bermuda, and finding a large cardboard box on the floor, obviously left behind by a prior tenant. It was full of redeemed prepaid cards; obviously someone needed to covertly move funds, and knew that the transport of prepaid or stored value cards leaves no financial footprint. That is just the tip of the iceberg, for most experts now feel that stored value cards have, in many cases now replaced bulk cash smuggling,
Unfortunately, the Panama situation is soon be get worse. The individual I named in the article I mentioned above, and his partners. have actually formed a card processing company there. This entity will allow them to directly process, and redeem, the value from prepaid cards, through the actual financial pipeline of the credit card companies, again without checking on Source of Funds.Apparently, it is all being facilitated through the offices of a  senior corrupt card company executive in Central America, who is reportedly being amply compensated for vouching for the criminal organisations that are in the anonymous prepaid card scheme. There appear to be several international law enforcement investigations in progress regarding the issues I have discussed, and expect an additional article with details shortly on this blog.
____________________________________________________________________________
*The number on the reverse of the card you see above is NOT a PIN number;  it is the user's personal account number, so that he or she can top off the card anywhere. The bank where the cash is on deposit is not identified, nor is it known to me at this time.






~Contributed & Written by Kenneth Rijock ~

Saturday, February 2, 2013

PONZI |ASSOCIATIONS WITH ORGANIZED CRIME


WATCH PONZI SCHEMERS FOR UNSAVORY ASSOCIATES

If you were closely watching the questions and answers in convicted Ponzi schemer/lawyer Scott Rothstein, you saw something very troubling: Government attorneys would not let him get into specifics about his association with organized crime, though he indicated that such individuals were depositing cash with him. That was a hint that those who Ponzi schemers choose to work with might not be exactly country club material.
There were a number of deaths of individuals closely linked to Rothstein, and the question remains: were any of the suicides staged, and what about the homicide of the lawyer ? If there was ever a need for you to identify a bank client's Ponzi scheme operation early on, it is this; if some of his associates, partners or suppliers are from organised crime, you may be unwittingly banking them, and their front companies, believing that they are part of a major client's business, or are his customers.   Rothstein and Florida Governor  One final note, should you tumble to a possible Ponzi scheme operating out of your bank, you must ensure that such information not become general knowledge amongst your staff, because the Ponzi schemer may have planted a junior staff member inside your bank, and if you are the principal witness, one of those organised crime associates may see fit to terminate you, with extreme prejudice.
This is just one reason why you must remain vigilant to potential Ponzi schemes.

VIKTOR BOUT


VIKTOR BOUT'S ATTORNEY MAKES THE DEADLINE ON THE BRIEF

 Notwithstanding that his client obviously did not have an opportunity to proofread the Appellate Brief, Albert Dayan, who is handling Viktor Bout's appeal of hisDistrict Court conviction, did make the deadline set by the Second Circuit Court of Appeals. Yesterday, on the final day, he filed the Brief and Appendix.
You will recall that Mr. Dayan asked for additional extension on the Brief, but the Court failed to rule. Apparently he went ahead and filed on the last day. At least we will now be able to review the issues, and the appeal will not be dismissed for procedural reasons.
 We shall be analysing the issues raised in a future article.


~Contributed & Written by Kenneth Rijock ~

Compliance Officer do not do proper due diligence


PLACES WHERE OPEN-SOURCE DUE DILIGENCE IS WORTHLESS

 

You are a compliance officer vetting a prospective bank customer, or an attorney checking out a factory your client wants to purchase, or a financial services professional examining an investment in a developing country. You need to conduct a Due Diligence investigation. The problem is, in certain countries , the truth is not only hard to find, you may actually encounter disinformation, resulting a disaster for you or your client.
Reporters Sans Frontieres (Reporters without Borders)* has recently published a paper, which includes a map that colour-codes the countries of the world, showing the amount of press freedom encountered there, or the lack thereof. Frankly, discount the accuracy of much of the media information that you collect, regarding the countries that appear in red or black, for corruption, special interest groups, dictators, utter disregard for the rule of law, and many, many other issues result in the failure to publish accurate information, or even result in disinformation, in government-owned or controlled mass media.
Unless you want to bank a corrupt Politically Exposed Person (PEP) who is stealing his national treasury blind, or purchase a factory for your client that is riddled with pollutants, or desire to have your most favoured customer buy a worthless bond issue, you should seek out competent professionals who can ferret out non-public sources in those countries where truth has taken a holiday. Use experienced investigators, with a global reach, lest you recommend somebody to a client, who turns out to be a nightmare.
~Contributed & Written by Kenneth Rijock ~

THE ISRAELI AIR FORCE HAS BOMBED A MUNITIONS CONVOY


RAISE COUNTRY RISK IN THE MIDDLE EAST ?

  Reliable reports from multiple sources have confirmed that the Israeli Air Force has bombed a munitions convoy, reportedly on the Syrian side of the Lebanese frontier, that was transporting surface-to-air missiles,  believed to be Russian SA-17s, on delivery from the Syrian Government, to Hezbollah.The reports say that several flights of IAF F-16 aircraft were involved, and Israel has stated that it will not allow such weapons to fall into Hezbollah control.
Syria whilst denying that such an attack took place, is accusing Israel of destroying a military installation in Jamraya, near Damascus. This may have been an air defence headquarters; Syria is claiming that it was a "military research centre", and that the complex was destroyed, with fatalities and injuries. 
Additionally, numerous Israeli aircraft were reported by Lebanon to have violated its airspace for an extended period of time, near the frontier. Iran has warned that it will consider an Israeli attack on Syria as an attack upon itself. Israel recently moved elements of its Iron Dome missile defence system to the north of the country.
 It is suggested, that if your clients have ongoing trade transactions in the region, or if your bank has any significant financial exposure, that you watch unfolding developments carefully.

~Contributed & Written by Kenneth Rijock ~

SCOTT SAIDEL | ENTERED A PLEA OF GUILTY


PONZI SCHEMER ROTHSTEIN'S WIFE'S ATTORNEY PLEADS GUILTY TO MONEY LAUNDERING

Fallout from the billion dollar Ponzi scheme perpetrated by convicted Attorney Scott Rothstein continues. Yesterday, Rothstein's wife's attorney, Scott Saidel*, entered a plea of guilty in US District Court in Fort Lauderdale.
Saidel, who assisted Kin Rothstein in hiding, and later selling, or attempting to sell, $1m in jewelry that her husband had bought with criminal proceeds, has pled to:
(1) Money Laundering Conspiracy.
(2) Obstruction of Justice.
(3) Witness Tampering.
Saidel, who is from Boca Raton, Florida, forfeited jewelry of his own, $65,000 in cash, and other assets. He faces five years in Federal Prison when he is sentenced on 7 June. ________________________________________________________________________ * Case No.: 12-cr-60204-RSR (SD FL).

~Contributed & Written by Kenneth Rijock ~

SYRIAN ORGANIZED CRIME MAFIA OPERATING IN COLOMBIA, PANAMA & VENEZUELA CONTROLLING PANAMA BANKS



FROM THE - JOURNALS of Monte Friesner – Criminal & Intelligence Analyst and Consulaire for WANTED SA


SYRIAN ORGANIZED CRIME MAFIA CONTROLS DOZENS OF BANKS FOR THEIR CRIMINAL ACTIVITIES – MONEY LAUNDERING -


 
The 1977 Foreign Corrupt Practices Act makes it illegal for U.S. companies and foreign firms whose offices are in the USA and who conduct business affairs in the United States to either bribe partake of criminal activities with government officials in foreign countries. In a parallel action with the SEC, the U.S. Department of Justice said a department investigation of bribes and criminal activities paid inthe Republic of Panama involving government agencies and ministers in Panama who request and accept various manners of bribes is a criminal offence under US Law.
The investigation is part of a broad crackdown on bribery by multinational companies and banks in foreign countries that has hit several of the world's biggest banks, companies and financial groups.
 The Justice Department is cooperating with a private intelligence group based in several countries in Latin America, Middle East, USA and Canada who is volunteering information about past wrongdoing of the above banks, financial groups and companies to the Justice Department.
 Since 2003 the SYRIAN ORGANIZED CRIME MAFIA (“SOCM”) has been operating more aggressively and expanded their money laundering activities with the Hezbollah Organization, which now include more banks, financial groups and Financieras in all three countries. With careful analysis what has been revealed are the exact same Syrian Ex Pat families who have vested interests in many of the banks and pool together their financial resources and controlFinancial Authorities in Panama, Colombia and Venezuela working to protect the flow of HEZBOLLAH DRUG MONEY through their banks in Panama.
 The “SOCM” in Panama have become bolder and wealthier with protection purchased through key government officials that control sectors of Banking, Securities, Courts, Zona Libre and Law Enforcement in Panama. Hezbollah is now a “CLEAR & PRESENT” danger in Latin America and a massive financial force working directly for the masters in the Islamic Republic of Iran. Corruption, Bribes, Criminal Activities, Money Laundering, and Drugs is an everyday culture for the Syrian Mafia which is now firmly established also in Israel, Canada, USA, Switzerland and many other countries with control of banks, insurance companies and positions in Government.