Bank executives had their employees selling the mortgages ignore all the paperwork requirements & deceive the underwriting department to get the mortgages approved.
The guilty plea implicates the founder Scott Seligman, a minority owner of the San Francisco Giants.
The bancorp was forced to flip on more than 100 former employees & executives who participated in the crimes.
Sterling Bank has sued Seligman for stealing $100M from the bank to recover as much money as possible from him. Seligman & his family reportedly sold $114M in stock after the IPO that over inflated the value of the company.
Several of their executives plead guilty in May 2021 in this case.
Silicon Valley Bank closed by regulators.
2nd largest bank failure in US history.
CEO was on the board of the San Fran Federal Reserve Bank now fired.
Funded the #SiliconValleyOligarchs
Major player in venture funding & ESG shell games. #ButNothingsHappening
Ohio Speaker of the House Larry Householder: Guilty
Lobbyist & former head of the Ohio GOPe Matt Borges: Guilty
Took $61M in Swampy bribes to let FirstEnergy collect more than a billion dollars from Ohioans. #ButNothingsHappening
Swiss prosecutors charge 4 Russian bankers with laundering millions in assets belonging to Vladimir Putin.
The Swiss branch of Russia's Gazprombank has been winding up operations due to sanctions.
Bank officials classified Putin pal & his daughter's Godfather as a non politically connected customer to avoid due diligence like asking where the money was coming from.
The banks knew who he was but pretended he was just a conductor at a theater.
Who needed to move more than $10M per year through Swiss banks.
The Johnie Doc connected bribery trial ends with prison for Philly Councilmember Henon.
But it's just one piece of much larger prosecutions including election crimes that swung control of Congress in 2018 by electing PA SC Justices to redistrict House seats. #ButNothingsHappening
One of their biggest crimes was blocking Gov. Wolfe's Supreme Court nominations, then rigging the Democratic primaries to elect the justices they wanted in 2015.
They quickly & unconstitutionally redrew Congressional districts to steal 9 seats from GOP.
Nicholas Palmeri, DEA Regional Director of North and Central Americas Region, was ousted for diverting funds from Special Investigative Unit funds for a birthday party & other travel expenses.
This serves as a great example of how what looks like a small investigation pulls threads on so many other investigations & much larger issues.
This isn't about birthday parties, but DEA personnel laundering money for drug cartels, ignoring Chinese fentanyl supplies, & much more.
This report came out about a month ago, but there is so much coming out that it is impossible to see it all.
But within a few minutes, it connected to several other issues.
Some of the funds were used to pay for trips for Acting DEA Administrator Tim Shea...