This is a very long list of all the Wallstreet execs that have been prosecuted so please dont let anyone tell you there has not been any charged. We could have wished for more jail time etc. but judges and juries decide that NOT congress or the President. Research by: David Bell Giovanni Montelli Patricia Williams Updated: 07/16/2014 One of the greatestaccomplishments of the Obama Administration is rarely talked about! But ithappened!! Despite what most folks think didnt happen!! I told folks a few yearsback before OWS was launched by Anonymous, against Wall Street, just let theadministration do their jobs in investigating Wall Street, and they would besatisfied with the results. But in today’s fast food, drive-thru, I wantit now society, they tend to go off the cliff and others join them withno hesitation, vice giving themselves the time to back up, think it through,and allowing time to work its magic. The Obama administration hasbeen quite busy going after these financial institutions and the individualsinvolved in a wide array of financial fraud schemes. Thus far there have beenover 14,000+ prosecutions through the FFTF (Financial Fraud Task Force) createdby the Obama administration. Out of the 14,000+ FFTF prosecutionsstopfraud.gov/ over 5,000+ have been convicted and sentenced to prisonterms, and that includes senior officers, CEO and presidents of these financialorganizations. fbi.gov/.../financial-crimes-report-2010-2011 All of these cases belowcame from Wall Street, their subsidiaries, or partner financial institutions. Falsification of financialinformation of public and private corporations, including Corporate fraudinvestigations involve the following activities: False accounting entriesand/or misrepresentations of financial condition; ~ Fraudulent trades designedto inflate profit or hide losses; and ~ Illicit transactionsdesigned to evade regulatory oversight. Self-dealing by corporateinsiders, including: ~ Insider trading, tradingbased on material, non-public information including, but not limited to: ~ Corporate insiders leakingproprietary information. ~ Attorneys involved in mergerand acquisition negotiations leaking information. ~ Matchmaking firmsfacilitating information leaks. ~ Traders profiting oravoiding losses through trading. ~ Payoffs or bribes inexchange for leaked information. ~ Misuse of corporate propertyfor personal gain. ~ Individual tax violationsrelated to self-dealing. ~ Obstruction of justicedesigned to conceal any of the above-noted types of criminal conduct,particularly when the obstruction impedes the inquiries of the SEC, otherregulatory agencies, and/or law enforcement agencies. Here’s a few examples ofactions/results: June 27, 2011. Former Citigroup Vice PresidentCharged in New Yorkwith Bank Fraud for embezzling more Than $19 Million. stopfraud.gov/news/news-06272011.html MARCH 21, 2011. Former Bank PresidentandSenior Loan Officer Indicted in Multi-million Dollar Fraud Conspiracy. stopfraud.gov/news/news-03212011-2.html September 18, 2012. Former Vice President ofPierce Commercial Bank Pleads Guilty to Fraud. stopfraud.gov/iso/opa/stopfraud/WAW-120918.html October 21, 2011. Former Bank President PleadsGuilty in Multi-million Dollar Bank Fraud Conspiracy and Perjury in Atlanta. stopfraud.gov/iso/opa/stopfraud/GAN-111021.html June 17, 2011. Former Colonial Bank SeniorVice President Sentenced to 8 Years in Prison for Fraud Scheme. stopfraud.gov/news/news-06172011-2.html June 10, 2011 Co-conspirators Paul Allen,the former chief executive officer of TBW; Catherine Kissick, a former seniorvice president of Colonial Bank charged stopfraud.gov/news/news-06102011-01.html September 15, 2010 NEW YORK – Robert Egan, the President of Mount Vernon MoneyCenter (MVMC), plead guilty to one count of conspiracy to commit bank and wirefraud stopfraud.gov/news/news-09152010-3.html $1 Billion to Be Paid byBank of America to the United States:Largest False Claims Act Settlement Relating to Mortgage Fraud stopfraud.gov/iso/opa/stopfraud/NYE-120209.html Former Employee (Senior VicePresident), of a National Bank Pleads Guilty for Role in Bid-Rigging and FraudConspiracies Involving Proceeds of Municipal Bonds stopfraud.gov/news/news-09092010-3.html 2012 - Former Citigroup VicePresident Sentenced to 97 Months for embezzlement of $22 million from Citibank. fbi.gov/.../former-citigroup-vice-president... 2012 - Former Goldman SachsGroup Inc. director Rajat Gupta was sentenced to two years in federal prisonfor leaking corporate secrets about the bank to a hedge fund at the height ofthe financial crisis.fbi.gov/.../former-chairman-of-consulting-firm... July 24, 2013 | Washington,DC Three Former UBS Executives Sentenced to Serve Time in Prison for FraudsInvolving Contracts Related to the Investment of Municipal Bond Proceedsstopfraud.gov/.../stopfraud/2013/13-at-839.html July 2, 2013 | New York, NYCEO and President of Investment Fund Plead Guilty in New York Federal Court toOrchestrating Nearly $10 Million Dollar Fraud Schemestopfraud.gov/iso/opa/stopfraud/NYS-130702.html June 28, 2013 | Washington,DC Former Officers of American Mortgage Specialists Inc. Sentenced for $28Million Fraud Against BNC National Bank stopfraud.gov/.../stopfraud/2013/13-crm-743.html June 27, 2013 | Washington,DC Four Northern California Real Estate Investors Agree to Plead Guilty to BidRigging at Public Foreclosure Auctionsstopfraud.gov/.../stopfraud/2013/13-at-729.html June 25, 2013 | Washington,DC Former Executive at Florida-Based Lender Processing Services Inc. Sentencedto Five Years in Prison for Role in Mortgage-Related Document Fraud Schemestopfraud.gov/.../stopfraud/2013/13-crm-711.html June 28, 2013 | Former CEOScott N. Powers, and former officer David McMaster of American MortgageSpecialists Inc. Sentenced for $28 Million Fraud Against BNC Nationalstopfraud.gov/.../stopfraud/2013/13-crm-743.html June 28, 2013 | FourNorthern California Real Estate Investors, Wesley Barta of Oakland, Irma Galvezof Pacheco, Calif., Stan Kahan of Berkeley, Calif., and Joseph Vesce of SanFrancisco, Agree to Plead Guilty to Bid Rigging at Public Foreclosure Auctionsstopfraud.gov/.../stopfraud/2013/13-at-729.html June 25, 2013 | FormerExecutive at Florida-Based Lender Processing Services Inc., Lorraine Brown,Sentenced to Five Years in Prison for Role in Mortgage-Related Document FraudScheme stopfraud.gov/.../stopfraud/2013/13-crm-711.html June 14, 2013 | Axius CEORoland Kaufmann Sentenced for Conspiracy to Pay Bribes in Stock Salesstopfraud.gov/.../stopfraud/2013/13-crm-682.html June 11, 2013 | Former ChiefExecutive Earl Gross of Mortgage Servicing Company U.S. Mortgage, Pleads Guiltyto Bank Fraud for Scheme to Withhold Funds from Wells Fargo Bankstopfraud.gov/.../stopfraud/2013/13-crm-663.html June 11, 2013 | Jury ReturnsGuilty Verdict for Nationwide Foreclosure Rescue Scamstopfraud.gov/iso/opa/stopfraud/CAE-130611.html After a nearlyfour-week trial, a federal jury in Sacramento returned guilty verdicts againstCharles Head, 36, of Los Angeles, and Jeremy Michael “Mike” Head, 33, ofHuntington Beach, Calif. The pair fraudulently obtained $15 million fromhomeowners. June 11, 2013 | New YorkAttorney, Edward Adams, Pleads Guilty to Participating in Multimillion-DollarReal Estate Fraud Schemestopfraud.gov/iso/opa/stopfraud/NYS-130611.html May 13, 2013 | Former NewYork Hedge Fund Level Global Investors Co-Founder, Anthony Chiasson, Sentencedin Federal Court to 78 Months in Prison for Insider Tradingstopfraud.gov/iso/opa/stopfraud/NYS-130513.html May 2, 2013 | Former HedgeFund Manager Todd Newman of Diamondback Capital Management LLC, Sentenced in New York to 54 Months inPrison for Insider Tradingstopfraud.gov/iso/opa/stopfraud/NYS-130502.html April 26, 2013 | Owner ofBuy-A-Home Real Estate Brokerage, Mitchell Cohen, Sentenced in New York CityFederal Court to 70 Months in Prison for Participating in Multi-million DollarMortgage Fraud Scheme and Committing Perjurystopfraud.gov/iso/opa/stopfraud/NYS-130426.html April 12, 2013 | FormerCredit Suisse Managing Director, Kareem Serageldin, Pleads Guilty in Connectionwith Scheme to Hide Losses in Mortgage-backed Securities Trading Bookstopfraud.gov/iso/opa/stopfraud/NYS-130412.html April 4, 2013 | FormerGoldman Sachs Vice President, Matthew Taylor, Pleads Guilty in New York toFraudulently Amassing and Concealing Trading Positionstopfraud.gov/iso/opa/stopfraud/NYS-130404.html SEC actions addressingmisconduct that led to or arose from the financial crisis. Citigroup - SEC chargedCitigroups principal U.S.broker-dealer subsidiary with misleading investors about a $1 billion CDO tiedto the housing market in which Citigroup bet against investors as the housingmarket showed signs of distress. The proposed settlement would require apayment of $285 million by Citigroup that would be returned to harmedinvestors. (10/19/11) Commonwealth Advisors - SECcharged Walter A. Morales and his Baton Rouge-based firm with defraudinginvestors by hiding millions of dollars in losses suffered during the financialcrisis from investments tied to residential mortgage-backed securities.(11/9/12) Goldman Sachs - SEC chargedthe firm with defrauding investors by misstating and omitting key facts about afinancial product tied to subprime mortgages as the U.S. housing market wasbeginning to falter. (4/16/10) Goldman Settled Charges -Firm agreed to pay record penalty in $550 million settlement and reform itsbusiness practices. (7/15/10) Fabrice Tourre Found Liable- A jury found former Goldman Sachs Vice President Fabrice Tourre liable forfraud relating to his role in a synthetic collateralized debt obligation tiedto subprime residential mortgages. (8/1/13) Harding Advisory LLC - SECcharged a Morristown, N.J.-based firm and its CEO for misleading investors in aCDO about the asset selection process. (10/18/13) ICP Asset Management - SECcharged ICP and its president with fraudulently managing investment productstied to the mortgage markets as they came under pressure. (6/21/10) ICP and President SettledCharges - ICP and its president Thomas Priore agreed to pay penalties andsettle the SECs charges (9/6/12) J.P. Morgan Securities - SECcharged the firm with misleading investors in a complex mortgage securitiestransaction just as the housing market was starting to plummet. J.P. Morganagreed to pay $153.6 million in a settlement that enables harmed investors toreceive all of their money back. (6/21/11) Merrill Lynch - SEC chargedthe firm with making faulty disclosures about collateral selection for two CDOsthat it structured and marketed to investors, and maintaining inaccurate booksand records for a third CDO. Merrill Lynch agreed to pay $131.8 million tosettle the charges. (12/12/13) Mizuho Securities USA - SEC charged the U.S. subsidiary of Japan-basedMizuho Financial Group and three former employees with misleading investors ina CDO by using “dummy assets” to inflate the deal’s credit ratings while thehousing market was showing signs of severe stress. The SEC also charged thedeal’s collateral manager and portfolio manager. Mizuho agreed to pay $127.5million to settle the charges, and the others also agreed to settlements.(7/18/12) NIR Capital Management - SECcharged the two managing partners of the Charlotte, N.C.-based investmentadvisory firm for compromising their independent judgment and allowing a thirdparty to influence the portfolio selection process of a CDO. Scott H. Shannonand Joseph G. Parish III agreed to collectively pay more than $472,000 tosettle the charges. (12/12/13) Stifel, Nicolaus & Co. -SEC charged the St. Louis-based brokerage firm and a former senior executivewith defrauding five Wisconsin school districts by selling them unsuitablyrisky and complex investments. (8/10/11) RBC Capital Markets - SECcharged the firm for misconduct in the sale of unsuitable CDO investments tofive Wisconsin school districts. The firmsettled the charges by paying $30.4 million to be distributed to the schooldistricts through a Fair Fund. (9/27/11) Wachovia Capital Markets -SEC charged the firm with misconduct in the sale of two CDOs tied to theperformance of residential mortgage-backed securities as the housing market wasbeginning to show signs of distress. Firm settled charges by paying more than$11 million, much of which will be returned to harmed investors. (4/5/11) Wells Fargo - SEC charged Wells Fargos brokeragefirm and a former vice president for selling investments tied tomortgage-backed securities without fully understanding their complexity ordisclosing the risks to investors. Wells Fargo agreed to pay more than $6.5million to settle the charges. (8/14/12) UBS Securities - SEC chargedUBS Securities with violating securities laws while structuring and marketing aCDO by failing to disclose that it retained millions of dollars in upfront cashthat should have gone to the CDO for the benefit of its investors. UBS agreedto pay nearly $50 million to settle the SECs charges. (8/6/13) American Home Mortgage - SECcharged executives with accounting fraud and misleading investors about thecompanys deteriorating financial condition as the subprime crisis emerged.Former CEO settled charges by paying $2.45 million and agreeing to five-yearofficer and director bar. (4/28/09) BankAtlantic - SEC chargedthe holding company for one of Floridaslargest banks and CEO Alan Levan with misleading investors about growingproblems in one of its significant loan portfolios early in the financialcrisis. (1/18/12) Bank of America - SECcharged Bank of America and two subsidiaries with defrauding investors in anoffering of residential mortgage-backed securities by failing to disclose keyrisks and misrepresenting facts about the underlying mortgages. (8/6/13) Citigroup - SEC charged thecompany and two executives with misleading investors about exposure to subprimemortgage assets. Citigroup paid $75 million penalty to settle charges, and theexecutives also paid penalties. (7/29/10) Commonwealth Bankshares -SEC charged three former bank executives in Virginia for understating millions ofdollars in losses and masking the true health of the banks loan portfolio atthe height of the financial crisis. (1/9/13) Countrywide - SEC chargedCEO Angelo Mozilo and two other executives with deliberately misleadinginvestors about significant credit risks taken in efforts to build and maintainthe companys market share. Mozilo also charged with insider trading. (6/4/09) Mozilo Settled Charges -Agreed to record $22.5 million penalty and permanent officer and director bar.(10/15/10) Credit Suisse Securities(USA) SEC charged the firm with misleading investors in offering of residentialmortgage-backed securities. Credit Suisse agreed to pay $120 million to settlethe SECs charges. (11/16/12) Franklin Bank - SEC chargedtwo top executives with securities fraud for misleading investors aboutincreasing delinquencies in its single-family mortgage and residentialconstruction loan portfolios at the height of the financial crisis. (4/5/12) Fannie Mae and Freddie Mac -SEC charged six former top executives of Fannie Mae and Freddie Mac withsecurities fraud for misleading investors about the extent of each companysholdings of higher-risk mortgage loans, including subprime loans. (12/16/11) IndyMac Bancorp - SECcharged three executives with misleading investors about the mortgage lendersdeteriorating financial condition. (2/11/11) CEO Settles Case - IndyMacsformer CEO and chairman of the board Michael Perry agreed to pay an $80,000penalty. (9/28/12) J.P. Morgan Securities - SECcharged the firm with misleading investors in offerings of residentialmortgage-backed securities. J.P. Morgan Securities agreed to pay $296.9 millionto settle the SECs charges. (11/16/12) New Century - SEC chargedthree executives with misleading investors as the lenders subprime mortgagebusiness was collapsing. (12/7/09) Executives Settled Charges -Paid more than $1.5 million and each agreed to five-year officer and directorbars. (7/30/10) Option One Mortgage Corp. -SEC charged the H&R Block subsidiary with misleading investors in severalofferings of subprime residential mortgage-backed securities by failing todisclose that its financial condition was significantly deteriorating. The firmagreed to pay $28.2 million to settle the charges. (4/24/12) RBS Securities - SEC chargedthe Royal Bank of Scotlandsubsidiary with misleading investors in a subprime RMBS offering. RBS agreed tosettle the charges and pay $150 million for the benefit of harmed investors.(11/7/13) Thornburg executives - SECcharged three executives at formerly one of the nations largest mortgagecompanies with hiding the companys deteriorating financial condition at theonset of the financial crisis. (3/13/12) TierOne Bank executives -SEC charged three former bank executives in Nebraska for participating in a scheme tounderstate millions of dollars in losses and mislead investors and federalregulators at the height of the financial crisis. Two executives settled thecharges by paying penalties and agreeing to officer-and-director bars.(9/25/12) TierOne auditors - SECcharged two KPMG auditors for their roles in the failed audit of TierOne Bank.(1/9/13) Bear Stearns - SEC chargedtwo former Bear Stearns Asset Management portfolio managers for fraudulentlymisleading investors about the financial state of the firms two largest hedgefunds and their exposure to subprime mortgage-backed securities before thecollapse of the funds in June 2007. (6/19/08) Cioffi and Tannin SettledCharges - Agree to pay more than $1 million and accept industry bars. (6/18/12) Charles Schwab - SEC chargedentities and executives with making misleading statements to investors inmarketing a mutual fund heavily invested in mortgage-backed and other riskysecurities. The Schwab entities paid more than $118 million to settle charges.(1/11/11) Evergreen - SEC charged thefirm with overstating the value of a mutual fund invested primarily inmortgage-backed securities and only selectively telling shareholders about thefunds valuation problems. Evergreen settled the charges by paying more than$40 million, most of which was returned to harmed investors. (6/8/09) The SEC also charged thelead portfolio manager of the fund, Lisa Premo. In December 2012, a judge foundPremo liable for aiding and abetting some of Evergreens violations, and shewas barred from working as an investment adviser for five years. Morgan Keegan - SEC chargedthe firm and two employees with fraudulently overstating the value ofsecurities backed by subprime mortgages (4/7/10) Morgan Keegan Settled Charges- Firm agreed to pay $100 million to the SEC and the two employees also agreedto pay penalties, including one who agreed to be barred from the securitiesindustry. (6/22/11) Oppenheimer Funds - SECcharged the investment management company and its sales distribution arm formisleading statements about two of its mutual funds that had substantialexposure to commercial mortgage-backed securities during the midst of thecredit crisis in late 2008. (6/6/12) Reserve Fund - SEC chargedseveral entities and individuals who operated the Reserve Primary Fund forfailing to provide key material facts to investors and trustees about thefunds vulnerability as Lehman Brothers sought bankruptcy protection. (5/5/09) State Street - SEC chargedthe firm with misleading investors about exposure to subprime investments whileselectively disclosing more complete information to specific investors. StateStreet agreed to repay investors more than $300 million to settle the charges.(2/4/10) Two Former State Street Employees Charged - Accused of misleading investorsabout exposure to subprime investments. (9/30/10) TD Ameritrade - SEC chargedthe firm with failing to supervise representatives who mischaracterized theReserve Fund as safe as cash and failed to disclose risks when offering theinvestment to customers. Firm settled charges by agreeing to repay $10 millionto certain fund investors. (2/3/11) Aladdin Capital Management -SEC charged the Connecticut-based investment adviser, its affiliatedbroker-dealer, and a former executive with falsely stating to clients that ithad skin in the game for two CDOs. Aladdin and its broker-dealeragreed to pay more than $1.6 million combined, and the former executive agreedto pay a $50,000 penalty. (12/17/12) Bank of America - SECcharged the company with misleading investors about billions of dollars inbonuses being paid to Merrill Lynch executives at the time of its acquisitionof the firm, and failing to disclose extraordinary losses that Merrillsustained. Bank of America paid $150 million to settle charges. (2/4/10) Brooke Corporation - SECcharged six executives for misleading investors about the firms deterioratingfinancial condition and for engaging in various fraudulent schemes designed toconceal the firms rapidly deteriorating loan portfolio. Five executives agreedto settlements including financial penalties and officer and director bars.(5/4/11) Former CEO Settled Charges -The sixth executive agreed to an officer and director bar and financialpenalty. (9/8/11) Brookstreet - SEC chargedthe firm and its CEO with defrauding customers in its sales of riskymortgage-backed securities. (12/8/09) Judge Orders Brookstreet CEOto Pay $10 Million Penalty - Stanley Brooks and BrookstreetSecurities ordered to pay $10,010,000 penalty and $110,713.31 in disgorgementand prejudgment interest. (3/2/12) Brookstreet Brokers Charged- SEC charged 10 Brookstreet brokers with making misrepresentations toinvestors in sale of risky CMOs. (5/28/09) Capital One - SEC chargedCapital One Financial Corporation and two senior executives for understatingmillions of dollars in auto loan losses incurred during the months leading intothe financial crisis. Capital One agreed to pay $3.5 million to settle theSECs charges. The two senior executives also agreed to pay penalties to settlethe claims against them. (4/24/13) Claymore Advisors/FiduciaryAsset Management - SEC charged two investment advisory firms and two portfoliomanagers for failing to adequately inform investors about a closed-end fundsrisky derivative strategies that contributed to its collapse during thefinancial crisis. Claymore agreed to distribute $45 million to fully compensateinvestors for losses related to the problematic trading, and Fiduciary Asset Managementagreed to pay more than $2 million. (12/19/12) Colonial Bank and Taylor,Bean & Whitaker (TBW) - SEC charged executives at the bank and the majormortgage lender for orchestrating $1.5 billion scheme with fabricated orimpaired mortgage loans and securities, and attempting to scam the TARPprogram. Lee Farkas, Chairman of TBW(6/16/10) Desiree Brown, Treasurer ofTBW (2/24/11) Catherine Kissick, VicePresident at Colonial Bank (3/2/11) Teresa Kelly, Supervisor atColonial Bank (3/16/11) Paul Allen, CEO of TBW(6/17/11) Credit Suisse bankers - SECcharged four former veteran investment bankers and traders for their roles infraudulently overstating subprime bond prices in a complex scheme driven inpart by their desire for lavish year-end bonuses. (2/1/12) Fifth Third Bank - SECcharged the holding company of the Cincinnati-based bank and its former CFO forimproper accounting of commercial real estate loans in the midst of thefinancial crisis. (12/4/13) Jefferies & Co.executive - SEC charged a former executive at a New York-based broker-dealerwith defrauding investors while selling mortgage-backed securities in the wakeof the financial crisis so he could generate additional revenue for his firm.(1/28/13) KCAP Financial - SEC chargedthree top executives at a New York-based publicly traded fund being regulatedas a business development company with overstating the funds assets during thefinancial crisis. The executives agreed to pay financial penalties to settlethe SECs charges. (11/28/12) UCBH Holdings Inc. - SECcharged former bank executives with misleading investors about mounting loanlosses at San Francisco-based United Commercial Bank and its public holdingcompany during the height of the financial crisis. (10/11/11) SEC charged former bankexecutive with misleading the banks independent auditors regarding risks thebank faced on certain outstanding loans. (3/27/12) Sources: Financial Crimes Report tothe Public, Fiscal Years 2010-2011, (October 1, 2009 –September30, 2011) fbi.gov/stats-services/publications/financial-crimes-report-2010-2011 A letter from the DOJ toSenator Grassley at his request, online.wsj/news/interactive/docid=120513221213-fc76a1cd22b94376b579c2c2fd4cfe84%7Cfile=doj_responseto03-09-12letter?ref=SB10001424052702303505504577401911741048088 SEC enforcement actions indetail, sec.gov/spotlight/enf-actions-fc.shtml
Posted on: Fri, 18 Jul 2014 03:31:38 +0000
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