angelburst29
The Living Force
Laura said:
Minneapolis banking scandal relates to mysterious Nordic covenant.
I wonder, if any one of these three scandal's might relate to the C's comment - above?
2 Men Sentenced For Multi-State Bank Fraud
http://minnesota.cbslocal.com/2012/08/13/2-men-sentenced-for-multi-state-bank-fraud/
August 13, 2012 - MINNEAPOLIS (WCCO) — Two men were sentenced Monday in Minneapolis federal court for their involvement in a
$50 million bank fraud scandal.
Prosecutors say 44-year-old Julian Okeayaninneh, of California, and 36-year-old Olugbenga Temidago Adeniran, of New York, orchestrated an organized crime group that spanned six states. The organization involved an extensive network of bank employees, and victimized up to 500 people worldwide.
The scandal involved identity theft, bank fraud, credit card fraud, and money laundering. U.S. Attorney for Minnesota B. Todd Jones says the investigation started in Minnesota.
“When we started the case, we had no idea that it would span out and pull in people that were in California, pull in people that were in New York, which again just shows some of the challenges in investigating financial fraud and identity theft, where the platform is the Internet.”
The Minnesota Financial Crimes Task Force headed up a multi-year investigation called “Operation Starburst.” It was a joint operation of federal, local and state law enforcement.
Edina Police Chief Jeff Long said his officers played an integral part in the investigation. “It started small,” he said. “It was just a typical investigation that led to more and more information by some relentless officers that just continued to follow up.”
Okeayaninneh was sentenced to 27 years in federal prison and Adeniran was sentenced to 22 years. Because the federal criminal justice system does not have parole, the two men will serve most of their sentences behind bars.
Fmr. Viking Accused Of Multi-Million Dollar Ponzi Scheme
http://minnesota.cbslocal.com/2015/04/15/fmr-viking-accused-of-multi-million-dollar-ponzi-scheme/
April 15, 2015 - MINNEAPOLIS (WCCO) — Two Minnesota men, including a former Minnesota Vikings tight end, are charged with running a Ponzi scheme that defrauded investors out of millions of dollars.
The U.S. Attorney’s office says 66-year-old Stu Voigt and 61-year-old Jeffery Gardner face several criminal charges in connection to a real estate scheme between 2005 and 2007.
The complaint says Voigt and Gardner raised money from private investors in connection with Gardner’s business, Hennessey Financial, LLC, promising returns of 10 to 20 percent annually. But the duo is accused of using the funds instead to repay previous investors and pay off Gardner’s debts from his other companies.
Gardner also allegedly knew Hennessey was failing, but continually lied to investors. Gardner and Voigt then allegedly begin to set up new companies and new bank accounts to funnel money away from Hennessey.
Voigt, who played for the Vikings throughout the 1970s, was chairman of the board at First Commercial Bank at the time. He allegedly secured loans from the bank to Gardner to keep Hennessey afloat, even though Gardner’s financial situation would have prevented him from loan approval.
The complaint also alleged that Gardner misrepresented the circumstances surrounding the departure of Hennessey’s CFO to the bank, saying he was having family issues. In reality, the CFO allegedly left after finding out about Hennessey’s dire condition.
Gardner and Voigt each face these charges: two counts of conspiracy to commit mail fraud; four counts of mail fraud; five counts of bank fraud; and seven counts of giving false statements on a loan application. Gardner also faces one count of making monetary transactions in criminally-derived property, while Voigt will face 16 counts of the same crime. Voigt was also charged with two counts of making false statements to the FDIC.
The case was the result of work between the U.S. Postal Inspection Service, the FBI, the FDIC and the Minnesota Department of Commerce’s Fraud Bureau.
There’s no point to breaking up banks
http://nypost.com/2016/02/20/theres-no-point-to-breaking-up-banks/
February 20, 2016 - Last week rookie Minneapolis Fed President Neel Kashkari — on the job for only seven weeks — screamed “fire” in a crowded room via his Bernie Sanders -inspired “break up the banks” speech at the Brookings Institution in Washington, DC.
How ironic it is to have Kashkari — one of the ex-soldiers of the Treasury Department’s $700 billion Troubled Asset Relief Program — now calling for the breakup of the big banks. Wall Street banks actually got bigger under the TARP plan. It was the Federal Reserve and Treasury, along with the Federal Deposit Insurance Corp., that helped push weaker banks into the larger banks’ arms.
The big banks weren’t always very open to bailing out their failing smaller competitors, so they often needed some Washington grease, which came in the form of “special capital arrangements” such as guarantees of loss protection from the FDIC and the rest of the alphabet soup of regulators.
Think Wachovia, Washington Mutual, Merrill Lynch and Bear Stearns. The patriots that ran the megabanks, including JPMorgan, Bank of America and Wells Fargo, did the country and the government a service by swallowing up their smaller rivals, albeit one that helped their own industry as well.
So why would Kashkari now work to dismantle some of the very work he took part in?
