Showing posts with label #SEC. Show all posts
Showing posts with label #SEC. Show all posts

Wednesday, November 10, 2010

WHISTLEBLOWER! #oops New ETFs Offer a Basket of Precious Metals, Including Gold, Silver, Platinum DailyFinance

@Marc Durant hmmm... me seems to recall you had a case about this? How is Martin Armstrong since you dopped the case. Still in jail on contempt? Did they ever find the missing money. Not the millions frozen by Judge owen in a TRO. Funny how that works. Like you always said, it is not how well you know the law, it is how well you know the judge. WTG, Dad! Send my love to the boys. #CFTC #GATA #whistleblower $950 Million could by a lot of freedom or a lot of silence.

http://www.dailyfinance.com/story/new-etfs-enable-investment-in-a-bundle-of-p...

Posted via email from ElyssaD's Posterous

Prosecutors Request Closed Courtroom For Goldman HFT Programmer's Trial #conspiracy

Prosecutors Request Closed Courtroom For Goldman HFT Programmer's Trial on Thursday October 28, @01:06PM

Posted by timothy on Thursday October 28, @01:06PM
from the sealed-in-carbonite dept.
dave562 writes "Goldman Sachs' lawyers have asked the Federal judge to seal the court room during the trial of Sergey Aleynikov. Aleynikov was one of the programmers who developed Goldman's High Frequency Trading (HFT) programs. What does this say about the state of the financial industry? Given the problems HFT seems to have caused over the last few years, shouldn't more light be shined into the dark corners of how it works?"

http://yro.slashdot.org/story/10/10/28/1734231/Prosecutors-Request-Closed-Cou...

File Under: Conspiracy of Silence

Posted via email from ElyssaD's Posterous

Sunday, June 27, 2010

The Fleecing of America: Those Missing Pentagon Trillions @firetown #wtc7 #911 #SEC

Military waste under fire

$1 trillion missing -- Bush plan targets Pentagon accounting

The Department of Defense, already infamous for spending $640 for a toilet seat, once again finds itself under intense scrutiny, only this time because it couldn't account for more than a trillion dollars in financial transactions, not to mention dozens of tanks, missiles and planes.

The Pentagon's unenviable reputation for waste will top the congressional agenda this week, when the House and Senate are expected to begin floor debate on a Bush administration proposal to make sweeping changes in how the Pentagon spends money, manages contracts and treats civilian employees.

The Bush proposal, called the Defense Transformation for the 21st Century Act, arrives at a time when the nonpartisan General Accounting Office has raised the volume of its perennial complaints about the financial woes at Defense, which recently failed its seventh audit in as many years....Source: SF Gate

Comments:
Anonymous said...

A trillion here, a trillion there and pretty soon we're talking some serious cash. While the average American can't even pronounce trillion without stumbling, Congress has it down to a fine art and is working on getting gazillion. Where will it stop? nobody knows but Congress seems bent on getting there faster than those before them.

3/5/10 9:17 AM
Anonymous said...
Poof it's gone and the towers came down

3/7/10 12:32 PM
Elyssa D'Educrat said...
Anonymous said...
Poof it's gone and the towers came down
3/7/10 12:32 PM

~i heart anonymous~

But i always found it curious that they had no back-up files for the 300 open investigations that were lost on 9/11 by the SEC.

just another little piece of the puzzle...
http://www.nylawyer.com/news/01/09/091401b.html

"The office, which enforces SEC regulations, lost files on about 300 pending investigations, including a major inquiry into the manner in which investment banks divvied up hot shares of initial public offerings during the high-tech boom."

http://911review.org/Storage/Http/elitewatch.netfirms.com/7WTC.html

ORIGINALPOST: http://grantlawrence.blogspot.com/2010/03/fleecing-of-america-those-missing.html

Posted via email from ElyssaD's Posterous

SEC Charges N.Y.-Based Investment Adviser With Fraudulent Management of CDOs Tied to Mortgage-Backed Securities; Release No. 2010-105; June 21, 2010


SEC Charges N.Y.-Based Investment Adviser With Fraudulent Management of CDOs Tied to Mortgage-Backed Securities

FOR IMMEDIATE RELEASE
2010-105

Washington, D.C., June 21, 2010 The Securities and Exchange Commission today charged a New York-based investment adviser and three of his affiliated firms with fraudulently managing investment products tied to the mortgage markets as they came under pressure in 2007.

The SEC alleges that, at the direction of its owner and president Thomas Priore, ICP Asset Management LLC defrauded four multi-billion-dollar collateralized debt obligations (CDOs) by engaging in fraudulent practices and misrepresentations that caused the CDOs to lose tens of millions of dollars. Priore and his companies also improperly obtained tens of millions of dollars in advisory fees and undisclosed profits at the expense of their clients and investors.

"ICP and Priore repeatedly put themselves ahead of their clients," said Robert Khuzami, Director of the SEC's Enforcement Division. "Instead of acting as fiduciaries, they took advantage of a distressed market to line their own pockets."

According to the SEC's complaint, filed in the U.S. District Court for the Southern District of New York, ICP began serving in 2006 as the collateral manager for what were known as the Triaxx CDOs, which invested primarily in mortgage-backed securities. ICP's affiliated broker-dealer ICP Securities LLC and its parent company Institutional Credit Partners LLC also are charged in the SEC's complaint.

The SEC alleges that ICP and Priore directed more than a billion dollars of trades for the Triaxx CDOs at what they knew were inflated prices. ICP and Priore repeatedly caused the Triaxx CDOs to overpay for securities in order to make money for ICP and protect other ICP clients from realizing losses. The prices for such trades often exceeded market prices by substantial margins. In some trades, ICP caused the CDOs to pay a price that was substantially higher than the price another ICP client paid for the security earlier the same day.

George S. Canellos, Director of the SEC's New York Regional Office, said, "The CDOs were complex but the lesson is simple: collateral managers bear the same responsibilities to their clients as every other investment adviser. When they violate their clients' trust, we will hold them accountable."

According to the SEC's complaint, ICP and Priore caused the CDOs to make numerous prohibited investments without obtaining necessary approvals, and they later misrepresented those investments to the trustee of the CDOs and to investors. The prices of many of these investments were intentionally inflated to allow ICP to collect millions of dollars in advisory fees from the CDOs. The SEC further alleges that ICP and Priore executed undisclosed cash transfers from a hedge fund they managed in order to allow another ICP client to meet the margin calls of one of its creditors. Priore subsequently misrepresented the transfers to the hedge fund's investors.

The SEC's complaint charges the defendants with violations of Section 17(a) of the Securities Act of 1933, Sections 10(b) and 15(c)(1)(a) of the Securities Exchange Act of 1934 and Rules 10b-3 and 10b-5 thereunder, and Sections 204, 206(1), 206(2), 206(3), and 206(4) of the Investment Advisers Act of 1940 and Rules 204-2, 206(4)-7, and 206(4)-8 thereunder. The SEC's complaint seeks permanent injunctions barring future violations of the federal securities laws, disgorgement of the defendants' ill-gotten gains with pre-judgment interest, and monetary penalties.

Celeste A. Chase, Joseph O. Boryshansky, Susannah M. Dunn, Joshua R. Pater, and Kenneth Gottlieb of the New York Regional Office conducted the SEC's investigation, which is continuing.

# # #

For more information about this enforcement action, contact:

George S. Canellos
Regional Director, SEC's New York Regional Office
(212) 336-1020

Andrew M. Calamari
Associate Regional Director, SEC's New York Regional Office
(212) 336-0042

Celeste A. Chase
Assistant Regional Director, SEC's New York Regional Office
(212) 336-0049

 

http://www.sec.gov/news/press/2010/2010-105.htm
Home | Previous Page
Modified: 06/21/2010

sound familiar??? it should...

#dots

Posted via email from ElyssaD's Posterous

Sunday, March 7, 2010

5 Squad: Philadelphia police engaged a long-standing pattern of appalling public corruption. The fact of this harm is readily ascertainable.


IN THE  UNITED STATES
DISTRICT COURT
FOR THE EASTERN DISTRICT
OF PENNSYLVANIA


1 In deciding a motion for judgment on the pleadings under Rule 12(c), a court must “‘view the facts presented in the pleadings and the inferences to be drawn wherefrom in the light most favorable to the . . . non-moving party’” Green v. Fund Asset

Management, L.P., 245 F.3d 214, 220 (3d Cir. 2001), quoting Institute for Scientific Info, Inc. v. Gordon & Breach, Science Publishers, Inc., 931 F.2d 1002, 1004 (3d Cir.1991).

Judgment is appropriate “only if the plaintiffs would not be entitled to relief under any set of facts that could be proved.” Id., citing Consolidated Rail Corp. v. Protlight, Inc., 188 F.3d 93, 95-96 (3d Cir. 1999).

BLANE NEELY a/k/a WALTER MITCHELL : CIVIL ACTION v SIX CONTINENT’S HOTELS, et. al. : No. 02-3890

ORDER-MEMORANDUM

AND NOW, this 15th day of October, 2003, the “Motion for Judgment on the Pleadings of Defendants, Six Continents Hotels, Inc., Holiday Inns, Inc. and John Sweetwood” is granted, Fed. R. Civ. P. 12(c).1

This civil rights action arises from the March 1977 arrest and subsequent conviction and incarceration of plaintiff Blane Neely a/k/a Walter Mitchell. On March 17, 1977, plaintiff was a guest at the Holiday Inn in Philadelphia, where defendant Elliott Jurist was the night manager. Second Amended Complaint, 

10, 11. At approximately 11 p.m., Jurist is alleged to have given defendant David Grove, a Philadelphia police officer, access to plaintiff’s telephone records and to have permitted him to listen in on plaintiff’s telephone conversations. Second Amended Complaint,

12. It is further alleged that later that night, Jurist and Grove entered plaintiff’s room and assaulted and robbed plaintiff. Second Amended Complaint,

13, 14. As a cover-up, plaintiff was then arrested, and subsequently convicted and incarcerated based on the testimony of Jurist and Grove.

2 Plaintiff pro se filed the original complaint and, on July 15, 2002, an amended complaint. On January 13, 2003, Cozen & O’Connor was appointed as counsel for plaintiff and immediately moved to amend the complaint. The motion was granted and on February 10, 2003, a Second Amended Complaint was filed.

3 “A claim may be dismissed as time-barred where it is clear from the complaint that the applicable statute of limitations has lapsed.” Buckalew v. Ebi Companies, 2002

WL 1335110, *1 (E.D. Pa., June 5, 2002) (citations omitted).

4 Molina v. City of Lancaster, 159 F. Supp.2d 813 (E.D. Pa. 2001). See also Bailey v. Tucker, 533 Pa. 237, 261, 621 A.2d 109, (1993)
 
(“it would seem that being subjected to a term of imprisonment is a harm or injury to the person. Nor can there be any doubt the fact of this harm is readily ascertainable upon its occurrence.”)

2

On June 25, 2002, plaintiff filed this civil rights action.2 On February 18, 2003, movants filed an answer to the second amended complaint, asserting a statute of limitations defense, and now move for judgment on the pleadings.

3

The parties agree that Pennsylvania’s two-year statute of limitations applies to federal claims arising under 42 U.S.C. §§ 1981, 1985(3) and 1986. In general, civil rights claims for false arrest and false imprisonment accrue at the time of the arrest and are timebarred if not commenced within two years of the arrest.4 Plaintiff was arrested in March 1977, and any civil rights claim based on the arrest was time-barred two years later. This case was not filed until 2002, 25 years after the arrest and well past the expiration of the applicable statute of limitations. Plaintiff contends, however, that the statute of limitations this case is tolled by the federal equitable tolling doctrine.

“Equitable tolling may be appropriate where the defendant has actively misled the plaintiff regarding her cause of action, where the plaintiff has in some extraordinary way been prevented from asserting her rights or where she has mistakenly asserted her rights in the wrong forum.” Buckalew v. Ebi Companies, 2002 WL 1335110, at *4 (E.D. Pa, June 5 Plaintiff’s arrest occurred in March 1977. The documented activities of the 5 Squad occurred three years later, during the period 1980 through 1984. See Sentencing Memorandum.

3

5, 2002), citing Lake v. Arnold, 232 F.3d 360, 370 n.9 (3d Cir. 2000); Oshiver v. Levin, Fishbein, Sedran & Berman, 38 F.3d 1380, 1387 (3d Cir. 1994). It is plaintiff’s burden to demonstrate the applicability of equitable tolling, and part of the burden is proving the exercise of reasonable diligence in pursuing the claim. Buckalew, supra, at *4 (citations omitted).

Here, a period of 25 years elapsed between plaintiff’s arrest and his assertion of a federal civil rights violation. Plaintiff argues that he was prevented from asserting his rights “in an extraordinary way” because defendant Grove was a member of the 5 Squad, a group of Philadelphia police officers engaged in “a long-standing pattern of the most appalling public corruption.” United States v. Wilson, No. 88-282, Government Sentencing

Memorandum, at p.2. However, plaintiff does not make out how the 5 Squad prevented him from proceeding with his claim. Also, there is no allegation that the 5 Squad was involved in plaintiff’s arrest.5 In addition to the 25-year delay between arrest and the filing of this claim, there was a 12-year delay after the sentencing of the 5 Squad in 1990.

Whatever influence or effect the 5 Squad may have had was dissipated upon the conviction and sentencing of its members.

“To invoke equitable tolling, [plaintiff] must show that [he] exercised reasonable diligence in investigating and bringing [his] claims.”
New Castle County v. Hallibur NUS Corp., 111 F.3d 1116, 1126 (3d Cir. 1997) (18-month delay in bringing CERCLA claim not excused by equitable tolling; complicated clean-up implementation procedures did not constitute extraordinary circumstances).
"One who fails to act diligently cannot invoke equitable principles to excuse that lack of diligence." Baldwin County Welcome Center v. Brown, 104 S. Ct. 1723, 1726 (1984)

(equitable tolling not invoked where pro se plaintiff ignored specific instructions regarding filing deadlines and filed employment discrimination action after 90-day period permitted by law).

Plaintiff does not attempt to explain the extraordinary delay in filing his claim. In that he has not satisfied his burden of proving diligence in the pursuit of his claim, equitable tolling cannot be sustained.

Plaintiff’s claims are time-barred.

BY THE COURT:

_______________________

Edmund V. Ludwig, J.

Labels: , , , ,

yeah... i think you wannna see this...

Posted via web from ElyssaD's Posterous