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« Former Fed Vice President Tells CNBC That Bernanke Is Secretly Bailing Out Europe | Main | 'How To Forge A Client's Signature' And Other Lessons From Inside The Ameriquest Sub-Prime Sweatshop »
Tuesday
Jan032012

AMERIQUEST FRAUD UPDATE - Whistleblower Fired After Reporting Rampant Illegal Activity

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Source - Ameriquest Fraud Update

Excerpt:

Unfortunately, William ultimately lost the suit because of a technicality (he did not file his initial complaint with OSHA within 90-days). However, William thoroughly articulated how Ameriquest perpetrated the largest securities fraud scheme in the history of the United States. The securities fraud scheme was one of the biggest contributors to the collapse of the nation's markets and economy in September 2008. All of the bad paper issued by Ameriquest Mortgage Securities made its way around the world as collateralized debt obligations.

 The Administrative Law Judges got it wrong about Section 302. The is due to the fact that Sarbox was thrown together by Congress in the wake of the Arthur Anderson, Worldcom and Enron scandals. William's opinion (and the opinion of many securities attorneys) is that all Sarbox cases should be brought directly before the S.E.C. and not he Department of Labor because the ALJ's do not have a background in securities law. Further, all initial Sarbox whistleblower complaints are filed with OSHA - a government entity that was not designed to deal with complex financial and securities fraud. Employees of OSHA have as much education about securities fraud as your average United States postal worker.

Continue reading...

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Here's an outstanding primer on fraud within Ameriquest by Michael Hudson:

 


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Reader Comments (11)

We read of the daily fraud and criminal activity in this country and no one lifts a finger to stop it. Is it any wonder sales of weapons and ammunition are escalating at an exponential rate? If you're not part of the solution to stop or prevent it, you're part of the problem. These activities are treason, plain and simple. Since there are no agencies willing, capable or have the guts to enforce the law and stop these criminal acts, expect more records of weapon buying.
Jan 3, 2012 at 5:31 PM | Unregistered Commenterchiller
This needs to go Viral. Judges need to be aware that documents being handed to them are FORGED.



David Stern Investors Admit Foreclosure Documents Were Forged

http://my.firedoglake.com/cindykouril/2012/01/04/david-stern-investors-admit-foreclosuredocuments-were-forged/

[snip]

A little after 8 AM EST today, a filing went up on the SEC’s Edgar database. It’s a Complaint in lawsuit, dated yesterday.

The lawsuit is by the investors suing Stern for lying to them about the activities of the document mill and misleading them into believing they were buying a legitimate business instead of a criminal enterprise. Unlike a regular plaintiff or an Attorney General who is dependent on obtaining documents and information FROM the target of their ire via discovery of subpoena or search warrant, these plaintiffs apparently have all the info they need already in hand, because they bought the company.....

...... This is an explosive document, because the plaintiffs here are like insider whistleblowers; they know what’s in the files, because they have the files. This is a godsend for homeowners who have been victims of foreclosure fraud. It should dramatically increase the pressure for criminal prosecution. More to the point, judges with robo signed documents in front of them will be even more concerned about granting foreclosure judgments; at least they will be when the news about this gets widely reported. Huge hat tip to Florida foreclosure defense guru Lynn Szymoniak who emailed me the Edgar link early this morning while the electrons where still warm.

Folks, please tweet, forward, whatever. This is a huge story that deserves to be given major coverage in MSM. Local judges need to be aware that they are being handed forged documents.
Jan 5, 2012 at 9:42 AM | Unregistered Commenterjohn
This is America, doing the right thing and reporting crime will be dealt with with extreme prejudice...

Participating in the crimes and sharing the wealth spreading the wealth through venues such as campaign contributions, politician insider trading, pushing deregulation to make what is a crime today no longer illegal, etc., will be strictly encouraged.
Jan 5, 2012 at 9:51 AM | Unregistered CommenterS. Gompers
("Will Cordray help?")

I really hope he will, but the crooked majority in the US. Congress are going to do everything they can to shut down the CFPB. He may end up spending more time digging through trainloads of paper and defending the CFPB then protecting consumers.

Gompers comment above, is what's happening.
I think Obama knows Congress will make it impossible for Cordray to do his job. So to make it appear that he gives a damn about the middle class he appointed Cordray over the disapproval of Congress. More D.C theatrical bull**it.
Jan 5, 2012 at 11:31 AM | Unregistered CommenterSagebrush
@sage

Agree. Much theater. Watched Shelby grandstanding at hearing. What a putz/sellout/idiot! But, as an Ohio resident, I think Cordray was an outstanding AG. Not many are smarter or more knowledgable, anywhere. And he is an independent thinker. No dogma or political BS. Just a get-r-done guy.

Hopefully, he will be confirmed and get to work doing what he did for Ohio pensioners-attack the fraudsters...
Jan 5, 2012 at 2:15 PM | Unregistered CommenterJosie
("Hopefully, he will be confirmed and get to work doing what he did for Ohio pensioners-attack the fraudsters...")

@ Josie
Your Right, it's what's needed to clean up that sewer called Wall Street. But, check out Obama's top campaign donors. I really can't see him allowing Cordray to bother his top contributors with regulations or prosecution.

http://www.opensecrets.org/pres08/contrib.php?cid=N00009638

For a long time now the Justice Department, SEC, FED, CFTC, FINRA, and other regulatory agencies appear to view Fraud, Forgery and other criminal activities as necessary additions to the way Wall Street conducts business. I'm not going to hold my breath waiting for Cordray to succeed but, I'll damn sure be cheering if he does.
Jan 5, 2012 at 3:37 PM | Unregistered CommenterSagebrush
I have never been a fan of this power. Recent Presidents have made both intersession (between sessions or Congresses) and intrasession (during a recess within a session) recess appointments. Intrasession recess appointments were unusual, however, prior to the 1940s. Intrasession recess appointments have sometimes provoked controversy in the Senate, and there is also an academic literature that has drawn their legitimacy into question.

In the last 30 years the use of this "power" has accelerated. George H. W. Bush appointed Lawrence Eagleburger Secretary of State during a recess in 1992; Eagleburger had in effect filled that role after James Baker resigned.

According to the Congressional Research Service, President Bill Clinton made 139 recess appointments. President George W. Bush made 171 recess appointments, and as of December 8, 2011, President Barack Obama had made 28 recess appointments. While I do not favor the method at all, Josie is correct about Cordray going after them in Ohio. Ohioans on the other had decided to back the thieves with the election of Mike Dewine, the American Banker Association choice for AG with NRA F's, ant the only Republican Senator ever to be endorsed by the Brady Campaign.

http://www.buckeyefirearms.org/node/7503

Conveniently Steve, the link I posted during the election of the ABA endorsement has disappeared off the earth and the link I left here was no good anymore... Hmmmm.

Americans want the crime against them to continue, and nothing will stop that.
Jan 6, 2012 at 4:45 AM | Unregistered CommenterS. Gompers
@Gompers

Dewine is a shill, no doubt. Name recognition, Portman and Republican resurgence in Ohio were the forces behind him. And unfortunately, Dewine has no intention of following Cordray's lead.

@Sage

I hope Cordray shows the independence and will that he showed here in Ohio. At his core, I think he is an ethical, unbiased, and no doubt super-smart man.
Jan 6, 2012 at 10:47 AM | Unregistered CommenterJosie
Sorry for the thread hijack but shoot me a e mail if like Gomp.thanks
Jan 11, 2012 at 1:49 AM | Unregistered CommenterJTS
WELL UNTIL TODAY 02/02/2012 THIS CROOKED/CRIMINALS STILL OUT WITH OUT ANY PUNISHMENT... THIS GOD DAM FOUNDER/OWNER OF AMERIQUEST IS DOING FINE AS AN U.S. AMBASSADOR IN EUROPE, UNDER THE PROTECTION OF OUR CROOKED U.S. GOVT. AND CROOKED/CRIMINAL EX PRESIDENT GEORGE W. BUSH. THE CROOKED/CRIMINAL BANK COLLECTING ALL THE MONEY'S PRESENTLY IN THE U.S. IS THE DUTCH BANK. I WOULD LIKE TO SEE IF JUSTICE IS DONE, IN MY CASE THIS PREDATORY TO FROM ME MY SUMMER HOME AND COST ME OVER NITE MORE THEN $160.000 THOUSAND U.S. DOLLARS. THIS CROOKED/CRIMINALS SHOULD BE PROSECUTE TO FULL EXTREME.
Gil Mendoza, Windham, New Hampshire.
Feb 2, 2012 at 7:39 PM | Unregistered Commentergil mendozza

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