Lehman executives might see courtroom

Lehman executives could be in trouble

FALSE foreclosure proceedings filed under Lehman Brothers’ name, additional way to COOK BOOKS, see:

http://www.lawgrace.org/2008/09/14/lehman-brothers%E2%80%99-mortgage-troubles-nationally-evidence-of-foreclosure-fraud-deception-and-conspiracy-with-wells-fargo-deceptive-judicial-filings/

http://www.lawgrace.org/2008/08/08/my-august-8-2008-statement-to-the-louisiana-secretary-of-state-office-of-financial-institutions-concerning-wells-fargo-irs-and-mortgage-frauds-sham-foreclosures-and-judicial-collusion-and-national-app/

They’re not the only ones...
:p
Feds arrest their first bank bailout fraud suspect
March 15, 2010: Federal authorities on Monday charged the former chief executive of a New York bank with being the first suspect to try and rip off taxpayer funds from the Troubled Asset Relief Program.

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The U.S. Attorney’s office for the Southern District in Manhattan said it arrested Charles Antonucci, former CEO of The Park Avenue Bank, with self-dealing, bank bribery, embezzlement of bank funds and fraud, among other charges. Antonucci is accused of trying to defraud the TARP program of more than $11 million in taxpayer money, according to the U.S. Attorney’s office.

Also, during his time as bank executive, Antonucci allegedly authorized credit extensions and overdrafts to “customers with whom he had financial relationships," in one case extending credit “in exchange for the use of the customer’s private plane," according to documents from the U.S. Attorney’s office.

In addition, he used the bank to defraud Florida pastors out of more than $100,000 that had been earmarked to build a new church, prosecutors said. Antonucci was arrested Monday at his home in Fishkill, N.Y. and is expected to appear in court Monday. Prosecutors say he used a company he owned called Easy Wealth Group to mask some of the fraudulent transactions.

Regulators seized The Park Avenue Bank over the weekend. Antonucci’s attorney, Charles Stillman, told CNNMoney.com: “We just learned of these charges today, are studying them and therefore have no comment."

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Time to reform Wall Street is now
March 15, 2010: WASHINGTON — The head of a key banking panel on Monday released a draft bill of sweeping regulatory changes aimed at warding off future collapses in the financial system.

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The bill put forth by Senate Banking Committee Chairman Christopher Dodd, D-Conn., would create a new consumer regulator housed inside the Federal Reserve to ensure consumers get a fair shake with mortgages and credit cards. It would also push banks and financial firms to strengthen capital cushions and create a new process for taking down giant failing companies and preventing future Wall Street bailouts. “We must plug the gaps and eliminate the inefficiencies that allowed this crisis to happen in the first place," Dodd said in a news conference.

The bill also includes a version of the controversial rule proposed by former Fed chairman Paul Volcker — and heralded by President Obama — aimed at prohibiting financial firms from owning hedge funds or from engaging in proprietary trading on their own accounts. But the Senate proposal isn’t as strong as some were expecting and would create an oversight panel that would have leeway to set rules.

Tight timeline

Dodd wants the banking committee to consider the bill next week and vote before the next congressional recess, which is scheduled to start March 29. He wants to ensure the regulatory overhaul makes it to the Senate floor before the last week of May, because midterm elections could complicate getting a final agreement. The House passed a version of regulatory reform in December.

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