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   Non-TechGENI: GenesisIntermedia.com Inc


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From: StockDung4/1/2010 1:55:13 PM
   of 574
 
Saudi Financier Khashoggi Settles SEC’s GenesisIntermedia Case
April 01, 2010, 12:16 AM EDT

By Edvard Pettersson

April 1 (Bloomberg) -- Saudi Financier Adnan Khashoggi and former GenesisIntermedia Inc. Chief Executive Officer Ramy El- Batrawi settled a U.S. Securities and Exchange Commission lawsuit accusing them of orchestrating a stock fraud scheme.

Khashoggi and El-Batrawi, without admitting or denying the allegations, agreed to be barred for five years from serving as an officer or director of a company that issues registered securities, the SEC said in filings yesterday in federal court in Los Angeles.

The settlement doesn’t include any fine, George Newhouse, the lawyer for both men, said in a telephone interview.

The SEC sued Khashoggi and El-Batrawi four years ago, saying they ran a $130 million scheme in which they loaned out GenesisIntermedia stock at market value while artificially inflating the stock price. They failed to repay the intermediary brokers when the scheme collapsed, the SEC said in the lawsuit.

GenesisIntermedia is a defunct Van Nuys, California-based telemarketing company that sold the “Ab-Twister” exercise device and “Men Are From Mars, Women Are From Venus” relationship products through infomercials. Trading in GenesisIntermedia was halted in September 2001 after the shares plunged 65 percent.

The wreckage caused the failure of some of the intermediary brokers that had handled the loans and saddled the Securities Investor Protection Corp. with a $42 million payout.

Khashoggi, 74, is best known as an arms broker in the Iran- Contra scandal of the mid-1980s, when he served as middleman for illegal sales of weapons to Iran. He was often described then as one of the world’s richest men.

The case is SEC v. Ramy El-Batrawi, 06-2247, U.S. District Court, Central District of California (Los Angeles.)

--Editors: Peter Blumberg, Glenn Holdcraft.

To contact the reporter on this story: Edvard Pettersson in Los Angeles at epettersson@bloomberg.net.

To contact the editor responsible for this story: David Rovella at drovella@bloomberg.net.

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To: DrAvPaleske who wrote (522)5/7/2011 8:17:39 AM
From: StockDung
   of 574
 
Hasan Ali Khan 'front man' of arms dealer Khashoggi: ED charge sheet

dnaindia.com
PTI / Saturday, May 7, 2011 17:15 IST

International arms dealer Adnan Khashoggi had helped Hasan Ali Khan open his account with UBS, Zurich, to use it to launder tainted money and for the Pune stud farm owner CHF (Swiss currency) 28.5 million was "petty cash" to buy a hotel in Switzerland.

Khan was acting as a "front man" for Khashoggi, a persona-non-grata in Switzerland, and his UBS account was used to park the arms dealer's money, says the charge sheet filed yesterday under Prevention of Money Laundering Act by the Enforcement Directorate against Khan and Kolkata businessman Kashinath Tapuriah.

The 950-page document quotes Tapuriah as having told them that Khashoggi had introduced Khan to the bank in 1982 and that the Kolkata businessman learnt from the manager of UBS Reto Hartmann that money deposited belonged to the arms dealer, who might have instructed Peter Weily, a former UBS employee and his portfolio manager, not to allow Khan to withdraw any amount above a particular limit.

Tapuriah also told the ED officials that once Khan had shown him the statement of account in 2005-2006 in Zurich having a balance of $2 billion. Tapuriah told his interrogators that Khan had revealed to him the code to operate the account which was "Black Prince".

It was on Peter Weily’s recommendation that Khan had effected the transfer of $300 million to Khashoggi's account temporarily which the latter had returned to Khan's UBS account. Khashoggi's account in the US from where the money was returned to Khan was later identified as tainted money following which Khan' account was blocked by UBS.

According to Tapuriah, the charge sheet says, Khan knew of Khashoggi's movement even while remaining in India.

The charge sheet says Philip Anandraj, an aide of Khan, has said in his statement that the Pune real estate consultant intended to buy Hotel Chateau Gutsch in Switzerland.

"Anandraj also confirmed that the UBS representatives had indeed made a statement regarding Khan’s ability to pay the proposed sale amount of CHF 28.5 million from his petty cash," said ED.

According to ED, the deal for purchase of Chateau Gutsch in Lucerne was finalised and during the payment, UBS informed that USD 30 Crore had arrived with tagged comment "Funds from Weapon Sales".

In its charge sheet, the ED has said that Khan obtained passport from Patna on the forged and fabricated documents after entering into a conspiracy with Tapuriah and Bihar Congress politician Amlendu Pandey.

Tapuriah told ED that he arranged for Khan's passport through Pandey after the stud farm owner informed him that his travel document was in court's custody in Hyderabad because of which he could not operate his bank account with UBS, Zurich.

According to Pandey, Tapuriah told him to arrange a new passport for Khan from Patna and that he was aware that the stud farm owner already had a passport which had been seized.

In his statement, Pandey told ED that Tapuriah informed him that Khan was a "big person" and belonged to the family of Nizams of Hyderabad.

Pandey met the then Member of Parliament Iqbal Singh (now Lt Governor of Pudducherry) and requested him for help in securing the passport. According to ED, Pandey said that Singh called someone in the ministry of external affairs and requested him to get the work done.

URL of the article: dnaindia.com
Permission to reprint or copy this article or photo must be obtained from www.3dsyndication.com


© 2005-2011 Diligent Media Corporation Ltd. All rights reserved.

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To: PaleskeDrAv who wrote (530)6/6/2014 6:18:58 AM
From: StockDung
   of 574
 
Who got to CNN? Network pulls scheduled interview with Donald Sterling’s beat-up mistress

Posted on June 5, 2014 by Daniel Hopsicker

Donald Sterling has unsavory links with the owner of the New York City boutique hotel where his former mistress was beaten up Sunday night.



Four developments during the past few days in New York City offer dramatic evidence that questions recently raised here (and elsewhere) about the links to organized crime of real estate mogul, sexual sleazeball, casual racist, and soon-to-to-ex LA Clippers owner Donald Sterling are both serious and well-founded.

The first thing that occurred has already received lots of coverage. The woman who blew the whistle on Sterling’s casual racism, his former mistress V Stiviano, was badly beaten Sunday night by two white thugs in hoodies at a swank boutique hotel in New York City.

The second development involves the venue where the beatdown occurred, whose significance remains largely unknown. The Hotel Gansevoort, outside whose doors Stiviano was assaulted, belongs to one William Achenbaum.

Until just three weeks before being busted, Hotelier Achenbaum had “owned”— as a straw front man for the CIA—a Gulfstream II luxury jet ( N987SA) that was caught carrying 4 tons of cocaine in the Yucatan as part of the same operation.



During the time the two men controlled the plane, it made numerous trips to the U.S. base in Guantanamo, the McClatchy Newspapers group reported, flying extraordinary renditions for the CIA.

Achenbaum’s partner in the hotel, Arik Kislin of Long Island, whose family is repeatedly linked to the Russian Mob in published reports, also owned the Long Beach CA air charter company, Air Rutter Intern'l, offered the Gulfstream II for charter.

Unsavory links to the global drug trade
Are these facts at all relevant to the current tawdry Donald Sterling saga? Absolutely. Because Donald Sterling and William Achenbaum both share an unsavory link to an expatriate Saudi named Ramy El Batrawi, a longtime lieutenant of notorious CIA fixer Adnan Khashoggi.

El Batrawi and Achenbaum both owned airplanes used in a drug trafficking enterprise in Florida between 2005-2008 that top DEA officials in Miami called an out of control “rogue operation” of the Immigration and Customs Enforcement (ICE) in Tampa.

For his part, El Batrawi has made “fronting” for the CIA, with planes and even airlines, into a career. During Iran Contra, he posed as the owner and president of an airline in Miami called Jetborne that secretly flew Oliver North’s TOW missiles to the mullahs in Iran.

Later court testimony, during bankruptcy proceedings, revealed that Jetborne had all along been a CIA proprietary airline.

"Closest thing to a real scandal we're like to see hereabouts, nowadays"
In July 2003, the drug trafficking operation that DEA officials say was being protected by federal agents in the Tampa ICE Office received a second DC-9 (N12ONE), “sold” or “transferred” or just ‘passed along” to the operation by Ramy El Batrawi.

The operation, called Operation Mayan Jaguar, would soon blow up into the closest thing to a real scandal that anyone is likely to see in America for a long time.

It resulted in the forced sale of America’s 4th largest bank, Wachovia, after that bank was discovered to be laundering drug money from Mexico’s Sinaloa Cartel used to purchase a fleet of 50 American aircraft to be used as drug planes.

Links between recent owners of the two drug planes, first discovered during an examination of FAA registration records, suggested a long-running and continuing criminal conspiracy to engage in massive drug trafficking.

Before the Gulfstream II business was “parked” in the name of New York real estate developer Achenbaum and his partner Kislin with ties to the Russian Mob, the plane had passed through the hands of a secretive Midwestern media baron named Stephen Adams, also a Republican fund-raiser extraordinaire (he was one of the ‘elite’ Bush’s Rangers), who was personally buying over $1 million of billboard ads for George W. Bush for his 2000 Presidential election bid.

Scammers, fraudsters, grifters & bunco artists of the national security state
Adams had another business partner, Michael Farkas, whose company SkyWay owned a DC-9 (N900SA) which became the first drug plane the Tampa operation lost to a big bust in the Yucatan.

SkyWay, the company whose DC-9 was busted in April 2006 in the Yucatan with 5.5 tons of cocaine, for example, had been founded the year before by a slippery Miami attorney named Michael Farkas.

A ccording to SEC filings, Stephen Adams and Michael Farkas jointly control Holiday RV Superstores, Inc., used by mastermind Adnan Khashoggi in the complicated securities fraud which stole as much as $300 million from investors and taxpayers.

Companies Farkas controlled, like Holiday RV and Imperial Credit, were full partners in the stock manipulation scheme, along with Stephen Adams' company, which passed on the Gulfstream II luxury jet to William Achenbaum.

In an example of extremely sloppy tradecraft, Khashoggi and El Batrawi’s partners in the massive fraud were men who’d provided planes to the drug trafficking operation, making “plausible deniability” something of a sticky wicket.

“The complex sale of the Gulfstream II jet and its end in the Mexican jungle highlight the increasingly complicated illicit drug trade,” read the McClatchy Newspapers’ account on September 29, 2007.

From 'whack-a-mole' to 'hide the pea,' its still a sordid business
The ‘players” were an ecumenical cast of international characters: Republican fund-raiser Adams, Saudi arms dealer Khashoggi, oligarchs in the Russian Mob, elements of American military and civilian intelligence who populated the executive ranks at SkyWay, and a large but dirty San Diego defense contractor called Titan Corp. that would soon get even larger when it was merged into L3, one of today’s behemoth defense contractors.

What this means, should any courageous federal prosecutor take note, is that the drug plane’s rapid series of ownership changes are nothing more than sham transactions, part of the CIA’s traditionally sophisticated game of “hide the pea” designed to conceal the aircraft’s true owners. From what we’ve begun to learn of Sterling, he appears to fit right in.

Just knowing unsavory characters who are also acquainted is hardly a crime. What involvement does Donald Sterling have in the sordid business?

The answer comes several months after the SEC charges Ramy El-Batrawi and his boss Adnan Khashoggi, in April 2006, with masterminding a massive financial fraud that resulted in investor and taxpayer losses of more than $100 million (The figure later doubled.)

The two Saudis were the lead actors in a massive financial fraud that earned the name Stockwalk, that complemented the drug trafficking operation by using stock from the same companies—led by Khashoggi and El Batrawi’s company, GenesisIntermedia—that had been supplying drug planes.

The 'other' Donald issues a bizarre press release
Donald Sterling enters the action just as the two Saudis are being hammered by bad publicity from their recent indictment, which gets so bad that both men consider going on the lam to avoid the police. Khashoggi eventually will, living quite comfortably, according to a source in Palm Beach Florida, in a guest cottage on the grounds of Donald Trump’s Mar a Largo Mansion.

At this crucial moment Sterling steps in to help stem the tide of bad publicity swamping Khashoggi and El Batrawi’s efforts to move on to another scam. Sterling, of course, has considerable public relations clout. He regularly buys full-page ads touting his charitable achievements in the Los Angeles Times.

In early August Donald Sterling names Ramy El Batrawi the winner of Sterling’s non-existent “Humanitarian of the Year Award” for El Batrawi’s (also non-existent) efforts to solve the problem of the homeless on Skid Row in downtown Los Angeles.

No one was more surprised at being named “Humanitarian of the Year” than Ramy El-Batrawi himself, judging by his reaction. He freely admits to the LA Times that he’s made no contribution of money or time to helping the homeless.

But it’s what happened in the aftermath of the Sterling mistress beat-down that provides the biggest shock.

Did CNN cave before the bell?
Sterling’s former mistress V Stiviano was in New York to appear in an hour-long interview scheduled with Anderson Cooper on CNN Monday night.

After the beating, her camp leaks to the press that Sterling’s former mistress “started getting death threats almost immediately after Sterling’s racist rants — which she recorded — were made public,” said a well-placed source to Radar Online, which was consistently out in front of the pack on the story.

“Most of the threats were made on social media, “the source continued, “and this is one of the reasons why she has scaled back her activity. It has been very scary for V, and she also hired a bodyguard.”

But plucky Ms V is undeterred, her attorney tells reporters late Sunday night. “Stiviano will still be on Anderson Cooper’s show Monday night. No one will intimidate her.”

Maybe no one will intimidate Stiviano. But somebody sure did get to CNN.

A story nobody is talking about…yet
Just hours before the scheduled sit-down, and with no explanation, CNN removed Anderson Cooper from the broadcast. Producers notified Stiviano that Cooper was unavailable, and that Chris Cuomo would now be conducting the interview.

Stiviano immediately backed out. Thanks but no thanks, the former mistress’ replied. Nothing against Cuomo, her attorney explained. “But Anderson had previously met with V and Donald Sterling several weeks ago when he flew out to Los Angeles. Her camp has a relationship with Anderson.”

Makes sense. What doesn’t make sense: Who kept Anderson Cooper from doing an interview he’d already prepared for? And why?

To put it bluntly: Who got to CNN?

Police Commissioner comes down with virulent case of hoof in mouth
What happened next, the 4th development, is possibly the most revealing. On Monday night NYPD Commissioner Bill Bratton weighs in with gratuitous comments about his feelings towards Sterling’s former mistress.

Asked about V Stiviano’s lawyer’s claim that she was punched out by a pair of N-word-spewing punks outside a Meatpacking District hot spot on Sunday night, Bratton said he wished Donald Sterling’s infamous ex had never shown up in the Big Apple.

“I wasn’t even aware she was in town,” he stated. “We would have hoped that she would stay on the West Coast.”

A follow-up question to Bratton I’d have loved to hear someone ask: “Commissioner Bratton, who do you mean by ‘we’?”

Up for the lead in "Vile little Man"
Don’t all victimized citizens deserve to be treated with respect by the police? Apparently, if you’ve offended someone as “connected” as Sterling, the answer is probably no.

Given Sterling’s unsavory links with William Achenbaum, owner of the New York City boutique hotel where V Stiviano was beaten up, makes Bratton’s comments seem particularly menacing and gratuitous.

The FBI has long touted its success in critically weakening the forces of organized crime through its efforts to break up the Mafia in New York City.

But they clearly remain powerful enough to pull strings at CNN.

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About Daniel HopsickerDaniel Hopsicker is an investigative journalist dubious about the self-serving assertion of U.S. officials that there are no American Drug Lords.
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This entry was posted in News, Uncategorized and tagged Adnan Khashoggi, Arik Kislin, CNN, Donald Sterling, Gulfstream II, Hotel Gansevoort, Operation Mayan Jaguar, Ramy El Batrawi, rogue operation, Russian Mob, Stephen Adams, Tampa ICE Office, Titan Corp, V Stiviano, William Achenbaum, “Humanitarian of the Year Award, “Vile little Man”, ” Bill Bratton. Bookmark the permalink.

? Donald Sterling’s Secret History

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From: StockDung3/22/2015 9:51:25 PM
   of 574
 
2-line headline with not a single grain of truth It was as if Madonna were being given a Life-Time Achievement Award from Focus on the Family.

The press release began: “Donald T. Sterling and friends honored Ramy El-Batrawi as the humanitarian of the year for his support of the homeless people of Los Angeles.”

A casual perusal of the headline turns up nothing that bears the faintest resemblance to the truth:

“Donald T. Sterling Homeless and Medical Center Honors Ramy El-Batrawi With Humanitarian of the Year Award for His Support of the Homeless People of Los Angeles.”

There was no “Donald T. Sterling Homeless and Medical Center,” back then, just for starters. Nor is there one today. No institution. No employees. No Board of Directors to mull over who to choose for next year’s award.

The “Donald T. Sterling Homeless and Medical Center” is just a lie someone invented, and then delivered—not verbally, where it could later be denied—but in a press release, a form explicitly designed for maximum visibility.

Sterling must have been acting with the sure knowledge that no one would ever call him on it; and with a rock-solid confident expectation that he was operating with total impunity.

Donald Sterling, Adnan Khashoggi, and Ramy El Batrawi Ramy El Batrawi is a Saudi national who has been Saudi arms merchant and CIA fixer Adnan Khashoggi’s chief lieutenant in America from more than 30 years. More than once in the past decade, the two men have gone “on the lam” and become fugitives from justice at the same time to avoid arrest.

Back in the days of Iran Contra, El-Batrawi fronted for Khashoggi and posed as the owner and president of an airline in Miami, Jetborne, that flew Oliver North’s TOW missiles to the mullahs in Iran. Court testimony revealed that Jetborne was a CIA proprietary airline, helping to explain how Khashoggi and El Batrawi manage to repeatedly commit financial crimes with impunity.

Khashoggi and El Batrawi also have well-documented links—El Batrawi, for example, “owned” SkyWay’s second DC-9—to the drug trafficking ring operating in St. Petersburg Florida that DEA officials say was being protected by federal agents in the Tampa ICE Office.

Just as the drug trafficking operation out of St Petersburg got underway, in July 2003, ownership of the operation’s second DC-9 (N12ONE) was transferred to El Batrawi.

The airliner came via Finova Corp., which, as was discovered while researching “Barry & ‘the boys,’” is a CIA finance company that was the true owner of Southern Air Transport, Richard Secord’s re-supply cargo airline supplying the Contras with weapons… and the U.S. with cocaine, a fact revealed only much later, when no one was looking, during Southern Air Transport’s bankruptcy proceedings.

El Batrawi and Khashoggi were the lead actors in massive financial fraud which accompanied the drug trafficking. They engineered and ran what came to be called the Stockwalk scandal, which cost investors and U.S. taxpayers hundreds of millions of dollars. It led to what was, at the time, the largest brokerage failure in American history, a record that has been eclipsed many times since.

“Just three months after the company’s Initial Public Offering (IPO), the nearly $17 million raised in the offering was gone,” read one wire service story.

“The creative dealings of defendant El-Batrawi partly explains how this money disappeared so quickly,” reported the AP.

He’s no one’s idea of a prototypical Mobster. He doesn’t sound like he comes from Brooklyn. Nor does he have a colorful nickname. But, like Mobsters of old, Ramy El Batrawi operates with his boss Adnan Khashoggi’s carefully-purchased impunity. In that, he probably something of a poster boy for transnational organized crime in the 21st Century.

So, why was Donald Sterling honoring him as “Humanitarian of the Year?”

The answer was surprisingly simple. El-Batrawi and Khashoggi had just been charged by the SEC with massive financial fraud, and accused of basically stealing more than $100 million. (The figure would later double.)

And Donald Sterling was using his considerable public relations clout—he regularly bought full-page and double-truck spreads in the Los Angeles Times—to stem the tide of bad publicity swamping Khashoggi and El Batrawi’s efforts to move on to the next scam.

Asking if Sterling was doing it as a favor for an unnamed organization to which both he and the two Saudi men belonged is just speculation.

But what isn’t speculation is that Sterling clearly thought no one would notice. And until his recent difficulties thrust him into the harsh glare of a media spotlight, no one did.

The “Humanitarian of the Year Award” headline was a complete misnomer. It implied that the non-existent “Homeless and Medical Center” has given out “Humanitarian of the Year Awards” previously. They had not.

The Legendary Raw Deal After Sterling announced his “homeless initiative” in a press release in full-page newspaper ads in the L.A. Times, it received widespread and skeptical coverage in the media in Los Angeles.

At the City Planning Department, no one had filed plans for the property. The Building and Safety Department said there were no demolition requests or building permits requested in conjunction with the project.

“Aside from these ads, no one has seen anything,” said Estela Lopez, the head of the Central City East Assn., a business advocacy group representing an area of downtown that includes skid row. “What’s the plan? Where’s the proposal?”

The real estate agent for the project said the Sterling family trust was in escrow on the property, purchasing it for a “significant discount” from the $12-million asking price. He would not elaborate.

Sterling’s strategy for real estate investment was to buy properties, hold on to them until the market moves into a hot cycle, then refinance and pour the equity into new acquisitions. Some downtown watchers wondered whether he wasn’t doing the same with the skid row property, waiting out a surge in property prices as downtown gentrifies.

Donald Sterling was exploiting homeless people—who do exist—to aggrandize himself and a select few of his cronies. The homeless got nothing. Not even a reach-around. It was the legendary raw deal.

Thoughts of the Humanitarian of the Year Apparently no one was more surprised than Ramy El-Batrawi himself to have been chosen Humanitarian of the Year.

The Times dutifully sent out a reporter to ask some questions of the newly-minted Humanitarian of the Year. How had he demonstrated support for the homeless?

El Batrawi freely admitted he’d made no contribution of money or time to helping the homeless.

Another celebrity who seemed more than a little vague about the deal was singer Natalie Cole . She appeared with Ramy El Batrawi in one of Sterling’s full-page ads, where she was identified as a “leader” providing support for the homeless, and as a “special guest” at the dinner.

The event’s producer, Tami Bennett, said Cole was a big supporter of Sterling’s project, in part because she herself was once homeless. The next day, Cole’s publicist, sounding miffed, contacted the Times to say the singer was never homeless, was only “a recent acquaintance” of Sterling’s, and had merely told him she would attend his event.

The next day, the publicist phoned the Times reporter again, saying the singer was on “voice rest” and would not be attending the event at all.

A $270 million dollar blemish The Times also coolly noted the current blemish on El-Batrawi’s record. “El-Batrawi was sued earlier this year by the Securities and Exchange Commission, which alleged that he and a partner, Saudi arms dealer Adnan Khashoggi, orchestrated a $130-million scheme to manipulate the stock of a Van Nuys-based company,” reported the story.

“The manipulation, the SEC alleges, resulted in the largest bailout in the history of the Securities Investor Protection Corp.”

“In an interview with the Times, El-Batrawi said the federal charges were untrue and have nothing to do with his interest in helping Sterling launch his homeless center. The businessman said he has not donated money to the cause but has introduced Sterling to other potential donors.”

“I’m devoting a lot of my time, my efforts, in being available,” El Batrawi said. “I’m making introductions … trying to figure out the things he needs.”

It all sounded more than a little vague. What wasn’t vague, not at all, was the massive financial wreckage caused by the swindling Saudi financial fraudsters Khashoggi and El Batrawi, as a news account announcing the huge settlement one of the companies involved signed with the SEC in lieu of going to trial made clear.

“Deutsche Bank, the German financial services giant, will pay as much as $270 million to settle charges stemming in part from the fraud-induced failure of a Twin Cities brokerage subsidiary in 2001.”

“The complicated case involves a trade-clearing subsidiary of Minneapolis-based Stockwalk Group, and several other brokerages that became ensnarled in one of the securities industry’s biggest swindles in history, by a group that included fugitive Saudi arms dealer Adnan Khashoggi.”

Paying $270 million to settle charges is a rough indication of how much real pain and human suffering the scam caused real people.

Whatever Ramy El Batrawi found to say in his acceptance speech at the semi-star-studded dinner at Wolfgang Puck’s Spago in West Hollywood is now lost to history, which is some consolation.

But there’s no consolation at all in the discovery of a tweet Ramy El Batrawi sent just two weeks ago to homegrown American financial pirate Carl Icahn,an icon of 1980’s greed as well as one of the original “barbarians at the gate.”

Tweeted El Batrawi @Carl_C_Icahn “hi Carl how are you its been a long time.”








Those of you who read the stories published here know their value better than I can describe.

The investigative reporting on the impact of drug money on US political life and our economy found here are taboo subjects in the mainstream media. Without your help the effort cannot continue.

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From: StockDung3/22/2015 9:52:11 PM
   of 574
 
2-line headline with not a single grain of truth

I
t was as if Madonna were being given a Life-Time Achievement Award from Focus on the Family.

The press release began: “Donald T. Sterling and friends honored Ramy El-Batrawi as the humanitarian of the year for his support of the homeless people of Los Angeles.”

A casual perusal of the headline turns up nothing that bears the faintest resemblance to the truth:

“Donald T. Sterling Homeless and Medical Center Honors Ramy El-Batrawi With Humanitarian of the Year Award for His Support of the Homeless People of Los Angeles.”

There was no “Donald T. Sterling Homeless and Medical Center,” back then, just for starters. Nor is there one today. No institution. No employees. No Board of Directors to mull over who to choose for next year’s award.

The “Donald T. Sterling Homeless and Medical Center” is just a lie someone invented, and then delivered—not verbally, where it could later be denied—but in a press release, a form explicitly designed for maximum visibility.

Sterling must have been acting with the sure knowledge that no one would ever call him on it; and with a rock-solid confident expectation that he was operating with total impunity.

Donald Sterling, Adnan Khashoggi, and Ramy El Batrawi Ramy El Batrawi is a Saudi national who has been Saudi arms merchant and CIA fixer Adnan Khashoggi’s chief lieutenant in America from more than 30 years. More than once in the past decade, the two men have gone “on the lam” and become fugitives from justice at the same time to avoid arrest.

Back in the days of Iran Contra, El-Batrawi fronted for Khashoggi and posed as the owner and president of an airline in Miami, Jetborne, that flew Oliver North’s TOW missiles to the mullahs in Iran. Court testimony revealed that Jetborne was a CIA proprietary airline, helping to explain how Khashoggi and El Batrawi manage to repeatedly commit financial crimes with impunity.

Khashoggi and El Batrawi also have well-documented links—El Batrawi, for example, “owned” SkyWay’s second DC-9—to the drug trafficking ring operating in St. Petersburg Florida that DEA officials say was being protected by federal agents in the Tampa ICE Office.

Just as the drug trafficking operation out of St Petersburg got underway, in July 2003, ownership of the operation’s second DC-9 (N12ONE) was transferred to El Batrawi.

The airliner came via Finova Corp., which, as was discovered while researching “Barry & ‘the boys,’” is a CIA finance company that was the true owner of Southern Air Transport, Richard Secord’s re-supply cargo airline supplying the Contras with weapons… and the U.S. with cocaine, a fact revealed only much later, when no one was looking, during Southern Air Transport’s bankruptcy proceedings.

El Batrawi and Khashoggi were the lead actors in massive financial fraud which accompanied the drug trafficking. They engineered and ran what came to be called the Stockwalk scandal, which cost investors and U.S. taxpayers hundreds of millions of dollars. It led to what was, at the time, the largest brokerage failure in American history, a record that has been eclipsed many times since.

“Just three months after the company’s Initial Public Offering (IPO), the nearly $17 million raised in the offering was gone,” read one wire service story.

“The creative dealings of defendant El-Batrawi partly explains how this money disappeared so quickly,” reported the AP.

He’s no one’s idea of a prototypical Mobster. He doesn’t sound like he comes from Brooklyn. Nor does he have a colorful nickname. But, like Mobsters of old, Ramy El Batrawi operates with his boss Adnan Khashoggi’s carefully-purchased impunity. In that, he probably something of a poster boy for transnational organized crime in the 21st Century.

So, why was Donald Sterling honoring him as “Humanitarian of the Year?”

The answer was surprisingly simple. El-Batrawi and Khashoggi had just been charged by the SEC with massive financial fraud, and accused of basically stealing more than $100 million. (The figure would later double.)

And Donald Sterling was using his considerable public relations clout—he regularly bought full-page and double-truck spreads in the Los Angeles Times—to stem the tide of bad publicity swamping Khashoggi and El Batrawi’s efforts to move on to the next scam.

Asking if Sterling was doing it as a favor for an unnamed organization to which both he and the two Saudi men belonged is just speculation.

But what isn’t speculation is that Sterling clearly thought no one would notice. And until his recent difficulties thrust him into the harsh glare of a media spotlight, no one did.

The “Humanitarian of the Year Award” headline was a complete misnomer. It implied that the non-existent “Homeless and Medical Center” has given out “Humanitarian of the Year Awards” previously. They had not.

The Legendary Raw Deal After Sterling announced his “homeless initiative” in a press release in full-page newspaper ads in the L.A. Times, it received widespread and skeptical coverage in the media in Los Angeles.

At the City Planning Department, no one had filed plans for the property. The Building and Safety Department said there were no demolition requests or building permits requested in conjunction with the project.

“Aside from these ads, no one has seen anything,” said Estela Lopez, the head of the Central City East Assn., a business advocacy group representing an area of downtown that includes skid row. “What’s the plan? Where’s the proposal?”

The real estate agent for the project said the Sterling family trust was in escrow on the property, purchasing it for a “significant discount” from the $12-million asking price. He would not elaborate.

Sterling’s strategy for real estate investment was to buy properties, hold on to them until the market moves into a hot cycle, then refinance and pour the equity into new acquisitions. Some downtown watchers wondered whether he wasn’t doing the same with the skid row property, waiting out a surge in property prices as downtown gentrifies.

Donald Sterling was exploiting homeless people—who do exist—to aggrandize himself and a select few of his cronies. The homeless got nothing. Not even a reach-around. It was the legendary raw deal.

Thoughts of the Humanitarian of the Year Apparently no one was more surprised than Ramy El-Batrawi himself to have been chosen Humanitarian of the Year.

The Times dutifully sent out a reporter to ask some questions of the newly-minted Humanitarian of the Year. How had he demonstrated support for the homeless?

El Batrawi freely admitted he’d made no contribution of money or time to helping the homeless.

Another celebrity who seemed more than a little vague about the deal was singer Natalie Cole . She appeared with Ramy El Batrawi in one of Sterling’s full-page ads, where she was identified as a “leader” providing support for the homeless, and as a “special guest” at the dinner.

The event’s producer, Tami Bennett, said Cole was a big supporter of Sterling’s project, in part because she herself was once homeless. The next day, Cole’s publicist, sounding miffed, contacted the Times to say the singer was never homeless, was only “a recent acquaintance” of Sterling’s, and had merely told him she would attend his event.

The next day, the publicist phoned the Times reporter again, saying the singer was on “voice rest” and would not be attending the event at all.

A $270 million dollar blemish The Times also coolly noted the current blemish on El-Batrawi’s record. “El-Batrawi was sued earlier this year by the Securities and Exchange Commission, which alleged that he and a partner, Saudi arms dealer Adnan Khashoggi, orchestrated a $130-million scheme to manipulate the stock of a Van Nuys-based company,” reported the story.

“The manipulation, the SEC alleges, resulted in the largest bailout in the history of the Securities Investor Protection Corp.”

“In an interview with the Times, El-Batrawi said the federal charges were untrue and have nothing to do with his interest in helping Sterling launch his homeless center. The businessman said he has not donated money to the cause but has introduced Sterling to other potential donors.”

“I’m devoting a lot of my time, my efforts, in being available,” El Batrawi said. “I’m making introductions … trying to figure out the things he needs.”

It all sounded more than a little vague. What wasn’t vague, not at all, was the massive financial wreckage caused by the swindling Saudi financial fraudsters Khashoggi and El Batrawi, as a news account announcing the huge settlement one of the companies involved signed with the SEC in lieu of going to trial made clear.

“Deutsche Bank, the German financial services giant, will pay as much as $270 million to settle charges stemming in part from the fraud-induced failure of a Twin Cities brokerage subsidiary in 2001.”

“The complicated case involves a trade-clearing subsidiary of Minneapolis-based Stockwalk Group, and several other brokerages that became ensnarled in one of the securities industry’s biggest swindles in history, by a group that included fugitive Saudi arms dealer Adnan Khashoggi.”

Paying $270 million to settle charges is a rough indication of how much real pain and human suffering the scam caused real people.

Whatever Ramy El Batrawi found to say in his acceptance speech at the semi-star-studded dinner at Wolfgang Puck’s Spago in West Hollywood is now lost to history, which is some consolation.

But there’s no consolation at all in the discovery of a tweet Ramy El Batrawi sent just two weeks ago to homegrown American financial pirate Carl Icahn,an icon of 1980’s greed as well as one of the original “barbarians at the gate.”

Tweeted El Batrawi @Carl_C_Icahn “hi Carl how are you its been a long time.”

Those of you who read the stories published here know their value better than I can describe.

The investigative reporting on the impact of drug money on US political life and our economy found here are taboo subjects in the mainstream media. Without your help the effort cannot continue.

Order our books and documentaries, and donate what you can!


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To: Dr. von Paleske who wrote (517)1/7/2016 8:41:06 AM
From: StockDung
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From: StockDung2/6/2016 7:35:13 PM
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SHERMAN MAZUR: NOTORIOUS INTERNATIONAL FRAUDSTER + MONEY LAUNDERER

2 EX-CONS: SHERMAN MAZUR IS A CLOSE ASSOCIATE OF MICHAEL DEMEO
Hypo Group Alpe Adria Bank – Scandals that Encompassed the Bank from its Inception to 2007 – Money Laundering, Inside Trading and Links to Ultra-Right Wing Nationalism





https://compassionwithsizzle.wordpress.com/tag/sherman-mazur/



I have been reading Domagoj Margetic’s book called “ Banking Mafia” (2008) describing the money laundering that took place after the collapse of the Former Yugoslavia. A big player in this scandal was Hypo Group Alpe Adria bank. As somewhat versed in financial language, reading in Margetic’s book about € 100 billion of money laundered from Croatia and Serbia, completely affected destruction of the financial banking system in the Former Yugoslavia before, during and after the split of the country. It was also a big enough of a figure to enrich the 200 Croatian political elite families allowing them to capitalize some of their private ventures in the region. This is what economists would call ‘transition of wealth’ from socialist into capitalist hands, a term not exempt to irony, mostly because the money that was stolen came from employee-owned companies and employees whose lives were stripped from their own retirement packages, etc. € 100 billion was a big enough of a chunk, to continue to enquire more about Hypo Group Alpe Adria, and who originated these operations, helped during origination and made some serious profits. The most concerning in this whole money laundering scheme is a strong connection to arms-dealing and ultra-right wing nationalism which continues among masses as the feeding frenzy in Croatia, today.

Six Mega Fraudsters

Behind the scandal hide six mega fraudsters, who have together or separately brought down the Asian banking crisis in Thailand in 1997, have been an international marketing arm of Lockheed and were involved in Iran Contra scandal in the United States, and have continued working together worldwide (some of them still live in California, U.S.) to execute deceptive deals annually, each generating millions of U.S. Dollars – often working in conjunction with company management and CEOs. Those men are:

  • Regis Possino, U.S.citizen
  • Amador Pastrana, Filipino citizen
  • Sherman Mazur, U.S. citizen
  • Raoul Berthaumieu, a Canadian citizen of Belgian origin
  • Adnan Khashoggi, Saudia Arabian citizen
  • Rakesh Saxena, Indian citizen
The Hypo Group Alpe Adria

The Hypo Group Alpe Adria (HGAA) is an Austrian banking group with numerous cross-border activities in eight (8) countries of the Alps-Adriatic region. Its network of branches and offices extends from Austria through Italy and Liechtenstein, from Slovenia through Croatia, Bosnia-Herzegovina, Serbia, Montenegro, Hungary and Germany on to Brussels. Hypo Group Alpe Adria aims to become the leading commercial bank in the Alps-Adriatic region.

There are three strategic business sectors of the Hypo Group—banking, leasing and consulting. The Group’s owner share includes: 100% Republic of Austria.

Much of the below research, often word-for-word, is taken from Nachrichten Heute (click on the link to follow to the source, and I own no rights to neither research nor to the attached picture found on the web). Dates have been checked, and in certain instances, more details have been added.

In May 2007 the BayernLB (owned by the German State of Bavaria) bought 50% plus one share (controlling stake) of HGAA, Austria’s fifth largest bank, for € 1.63 billion. The majority shareholderin the BayernLB was up to then the Austrian county of Carinthia/Kaernten, whose governor was Joerg Haider, ultra-right winger and well known for his praise of Adolf Hitler’s labor market policies and his derogatory remarks about foreigners as well as asylum seekers.

When in 2000 his Party, the FPOe or so called Liberal Party of Austria, formed a coalition government with the OeVP, Israel recalled its ambassador from Vienna and the European Union reduced its contacts to Austria to a minimum.

In early 2008 it was revealed that BayernLB had made large losses due to investments in sub-prime mortgage securities in the United States. Although the extent of these investments has been the topic of speculation, it was revealed from the company’s Second Quarter (Q2) 2008 financial report that over €24 billion had been invested in critical securities, with losses of €2.3 billion in 2007 and a further €2 billion in the first quarter of 2008. On December 14, 2009, BayernLB, Kärntner Landesholding and Grazer Wechselseitige Versicherung, sold their stakes in the bank to Austrian government for one Euro each. HGAA was nationalized by the Austrian government to avert a bank collapse.

Hypo Group Alpe Adria, however, was not a stranger to controversies since its inception.

Let’s Start in the U.S. in the year 1993

A man by the name Robert “Bud” McFarlane, security adviser to former US President Ronald Reagan at the time of the Iran-Contra scandal (resigned in 1985, convicted and pardoned by President George H.W. Bush on Christmas Eve 1992 along with the other key players in the scandal, during the lame duck period of Bush’s presidency) and was at that time an adviser to the mercenary company AEGIS Defence Services, headed by Tim Spicer, on a Pentagon contract in Iraq, was with others founding a bank by the name of Czech Industries. The company was in 1996 merged with a company Eastbrokers International, in which a certain Wolfgang Koessner from Vienna became a shareholder.

Wolfgang Koessner brought with him a Bank in Austria by the name of WMP AG, which was now merged with Eastbrokers to be named Global Capital Partners. However disagreement led Koessner to disengage from Global Capital Partners and after the Global Capital Partners issued more shares, Koessner lost control of the WMP Bank and became a minority shareholder. Noteworthy is the fact, that Czech Industries was majority-owned by Stratton Oakmont, a broker house that was closed by the Securities and Exchange Commission because of fraud.

Minority shareholder at the WMP-Bank, that was now renamed “General Commerce Bank,” was as well the Hypo Alpe Adria Bank. Koessner did a lot of work to establish the relationship with this bank, before he lost control at the WMP. As a result, Hypo Alpe Adria Bank sold shares and bonds of Global Capital partners to its customers, worthless shares as it would turn out and many of the customers were at that time suing the bank.

A Crack Crew Arrives

Wolfgang Koessner, no longer in control, had to witness a “turnaround.” A crack crew appeared in 2000 at the WMP Bank for a “turnaround”, however not for better, but for worse. The crack crew comprised:

  • Regis Possino, former US lawyer, who was arrested after he tried to sell in 1978 Cocaine to undercover agents. He tried also to land a deal over the monthly sale of Cocaine at a street valued at US$680,000. He tried to sell stolen bonds to the public, and was arrested during his trial because he tried to influence one member of the jury. Possino was disbarred as a lawyer in 1984 because of his criminal record. In 1996, he was again sentenced for stock fraud.
  • Amador Pastrana, Filipino king of the “boiler rooms”. He allegedly commandeered at least 100 boiler rooms, offices, where fraudulent telemarketing of worthless shares is organized from.
  • Sherman Mazur, US citizen, convicted in 1993 in Arkansas for severe check fraud and sentenced to five (5) years imprisonment. Mazur allegedly authorized, while in prison, Amador Pastrana to continue with his fraudulent activities.
  • Raoul Berthaumieu, a Canadian of Belgian origin, alias Raoul Berthamieu, alias Lee Sanders, convicted for check fraud in the US in 1991, met in prison Sherman Mazur, who allegedly taught him there a thing or two.
  • Adnan Khashoggi, international arms dealer and fraudster, involved in the Iran-Contra Scandal. While irrelevant for this research, Adnan Khashoggi’s sister Samira Khashoggi Fayed married Mohammed Al-Fayed and was the mother of Dodi Fayed. At some point, Adnan Khashoggi was for practical purposes considered to be a marketing arm of Lockheed.
  • Rakesh Saxena, Indian, international megafraudster, allegedly committed fraud at the Bangkok Bank of Commerce in the 1990s, together with the then CEO Krirkiat Jalichandra, to the tune of US$2.2 billion and thus triggering the Asian Banking Crisis in 1997. Saxena fled with allegedly US$88 million “pocket money” to Canada and continuing his fraudulent activities there from self-paid house arrest. Extradition procedures to Thailand (Thailand wanted him) lasted until 2009.
This crack crew, with Saxena under house arrest via the phone, allegedly turned the WMP/General Commerce Bank in 2000 into a boiler room, with the fraud allegedly amounting to US$ 1 billion within 1 year.

Dr. Kulterer, CEO of Hypo Adria until 2006, trusted Berthaumieu, the convicted fraudster, according to information he received from the police (The local police station?) an honest man! The Hypo Alpe Adria Bank gave Berthaumieu several loans and tasked him to sort out “problems” at the General Commerce Bank.

In late 2000, Berthamieu introduced Adnan Khashoggi to Dr. Kulterer and his team. A couple of months later, reacting to pressure from the FBI and SEC, the General Commerce Bank was closed by the Austrian authorities. One would expect that the day for departure or better sacking of CEO of Hypo Adria, Dr. Kulterer had arrived by now, however the clocks in Haider’s Kaernten/Carinthia were ticking in a different way.

A Friend, a Good Friend

Kaernten/Carinthia was, as already mentioned, the biggest shareholder of Hypo Alpe Adria bank. And the Governor (Landeshauptmann) of Kaernten/Carinthia is Joerg Haider. Haider praised Dr. Kulterer as “Visionary” and “Austria’s Best Bank Manager.” Kulterer in return gave a loan to Haider’s then party, the FPOe, for expected election expenses with terms through 2013. Obviously the voters in Kaernten were “owners” of his party and were going to serve as collateral. Kulterer accompanied Haider on his trip to Libya in 2000 meeting with Gaddafi, when Libya and Gaddafi were still part of the “axis of evil”.

Ed Fagan Comes on Stage

In 2003, however, Ed Fagan, U.S. star-lawyer entered the stage and took CEO Kulterer and his Bank to court. He accused them of insider trading, fraud and falsifying balance sheets. Kulterer in return lodged a complaint with the state prosecutor in Austria, accusing Ed Fagan of blackmail.

14 Days in 2004

In 2004, Dr. Kulterer could prove, what a ‘visionary’ he was. His bank started trading in Swaps and within 14 days lost €328 million. His bank managers then allegedly tried to hide the loss in the balance sheet by stretching it over several years, a criminal act which came under the spotlight in a parliamentary subcommittee of the Austrian parliament. And he allegedly informed the supervisory board only six (6) months later.

And when the bank ran short of the legally required capital, the bank allegedly issued shares and sold them to customers, giving them at the same time loans in order to buy them, the loan supplied from a subsidiary of the bank in Liechtenstein, re-routing then the money via Virgin Islands back to Austria – a carousel as a money-spinner.

Dr. Kulterer had to vacate his position as CEO however was immediately installed as head of the Supervisory Board, the ‘visionary’ became the controller. Haider wanted to park him there for a while, and then put him back as CEO. And Kulterer was, in view of his performance at the Hypo Alpe offered and he accepted the job of the head of the Flick Foundation and the manager of the Flick money.

As a remainder: Friedrich Flick was a convicted war criminal in the Nuremberg trials and later he became a billionaire and one of the richest, if not the richest man in post-war Germany.

His son, Friedrich Karl Flick, regarded the inheritance tax, which his heirs once would have to pay as too high in Germany and hence, he emigrated lock stock barrel before his death to Austria.

A Former Croatian General

In February 2007, the former Croatian General Vladimir Zagorek was arrested in Vienna on request of the Croatian government. He is accused of embezzlement of state money and money laundering. He was a prominent customer of the Hypo Alpe Adria Bank, which is now also under investigation for alleged money laundering.

That year, the weekly DIE ZEIT reported yet another scandal involving the bank, this time in Istria/Croatia, where large tracks of pristine state land were bought at low prices and then sold with a 200 fold price increase, after the land was subdivided into plots in collusion with the local authorities, many of them now behind bars.

A Bank on Sale

The Hypo Alpe Adria Bank was supposed to be floated on the stock market in 2007, however this became impossible in view of the scandals. Dr. Kulterer actively looked for a buyer and found the Bavarian “Landesbank” (county bank) 100% owned by the state of Bavaria/Germany as being very interested.

Haider flew on May 16, 2007 to Munich to seal the deal. He was not only met by the CEO of Bayerische Landesbank, Werner Schmidt, but also by the Bavarian Finance minister Kurt Faltlhauser and Home Affairs Minister and future Prime minister of Bavaria, Guenther Beckstein. They did, what the European Union refused to do, to negotiate with and thus uplifting the reputation of Haider. And they were not only meeting him, but also exploring ways to strengthen the ties between Bavaria and Kaernten.

Insider Trading?

The sale of the Bank went ahead not without another suspected scandal: Insider Trading. An investment Company headed by Tilo Berlin, the Berlin AG, where the Flicks had also invested their money, bought in January, when the negotiations started with Bayerische Landesbank, 4% of the shares, and another 10%, when the negotiations were coming to a close. These shares were now sold to Bayerische Landesbank with 50% gain, 148 million Euro profit, and cash to carry in less than 6 months. If this is not Insider trading, what is it? However there are more scandals connected with this bank.

A Jewish Family and a Plot in Belgrade

On April 22, 2005 the Hypo Alpe announced, that they had acquired for €20 million from the state, the prime land in Belgrade’s city center. What the Hypo Alpe regional representative did not tell was, that this plot had a history. It was called “Three Tobacco Leaves” and was owned for generations by the Jewish family Galich. Two of the family members were killed in 1944 by the SS when they tried to defend the building against German troops, on the retreat, who wanted to blow up the building, which they eventually did. Immediately after the Germans had left, the Galich family rebuilt the Three Tobacco Leaves Building, however were later expropriated by the Tito government of Yugoslavia.

The Galich Family Emigrated to the U.S.

The building was eventually torn down by the Milosevic Government of Serbia. Potential buyers were advised by the Galich family, that they intend to reclaim the plot from the state, and thus no buyers came forward until eventually the Hypo Alpe Adria Bank entered the stage.

Totally disregarding the interests of the Galich family and the history of the plot and its former buildings on it, Hypo Alpe Adria Bank grabbed the plot. However, protests against this ridiculous grabbing mounted and in May, 2005 several hundred people, some of them Holocaust survivors, demonstrated in front of the Hypo Alpe headquarters in Belgrade. The local newspapers, reporting about the scandal, asked, whether the Hypo Alpe had learned nothing from the scandal related to the Croatian ski-athlete Ivica Kostelic in 2003.

A Ski Athlete Named Kostelic

Kostelic was sponsored by the Hypo-Alpe Adria Bank, better named Scandalpe or Skandalpe. He became not only famous for his skiing performance, but also for his remarks about Nazi-Germany similar to Joerg Haider, Governor of the Austrian county of Kaernten which owned half of the shares of the Hypo Alpe Bank. Haider, similar to Kostelic also became famous for his praise of Nazi Germany’s labor policy, recommending it as a good example to Austria’s government. A few statements of Kostelic in 2003:

  • The Nazi-System was a healthy system for an ambitious person.
  • Before a start to one slalom, he felt well prepared like a German soldier on the 22nd of June in 1941 (the day, Hitler attacked the Soviet Union).
  • The Nazi Regime equals to 2000 years of Roman history, compressed into 12 years.
  • The Communists were worse than the Nazis, because under Nazi rule one could pursue a career.
  • He was excited when watching in a movie the attack of the Nazi air force on Britain, the so called Battle of Britain.
As a remainder: England was at that time alone in its fight against Adolf Hitler’s army. In a heroic performance the British pilots pushed back Hitler’s air force. Their performance was acknowledged in Churchill’s historic speech in the commons “never before in history owed so many so much to so few”. One would have expected, that the Hypo Alpe Adria bank would have immediately cancelled the sponsorship. That did not happen. They were satisfied with a lukewarm apology from Kostelic.

What Happened to the Alleged WMP Criminals?

  • Regis Possino was still in business as of February 2013, a resident of Pacific Palisades in Los Angeles (perhaps your neighbor?) when he was charged with 13 others, including Sherman Mazur, for manipulating stock prices, and could face life in prison, for allegedly manipulating stock prices and causing more than 20,000 investors to lose over $30 million. After the fall of HAA Bank, in 2009, he was with his company “Geneva Equities” on a “roadshow” in Asia and collected US$ 28 million from investors. Geneva Equities was also involved in a fake company by the name of “L-Air” supposedly to be an airline, however its planes never made it to the runway, only the money of the investors flew away-forever.
  • Sherman Mazur was arraigned together with Regis Possino in February 2013, and they were held with no bail, awaiting their trial. In 2009, Mazur was busy in the United States. He created a company with his children by the name of “Accu-Poll-Holdings”, and was selling the shares via boiler-rooms, the usual story.
  • As Pacific Palisades Patch reports in February, 2013: “The defendants (referring to Possino and Mazur) are serial market manipulators that executed several deceptive deals per year, each generating several millions of dollars, according to court documents. They often worked in conjunction with company management and CEOs and targeted several industries including the pharmaceutical, green tech, oil and gas development and e-commerce.”
  • Adnan Khashoggi, now close to 80 years old, is allegedly in either the United Arab Emirates or in Monaco and enjoying his retirement. Deutsche Bank, Germany’s biggest bank, paid US$ 350 million US Dollars in compensation for share fraud, in which both, Deutsche Bank and Khashoggi were involved, in the GenesisIntermedia scandal.
  • Khashoggi, along with Ramy El-Batrawi, was the principal financier behind GenesisIntermedia, Inc. (formerly NASDAQ: GENI), a publicly traded Internet company based in Southern California. After the September 11 attacks, Khashoggi’s U.S.-based checking accounts were frozen and Khashoggi was unable to make a margin call with Native Nations Securities, whose CEO and largest shareholder, at the time, was Valerie Red-Horse, former office manager of junk bond king Michael Milken. In turn, Native Nations and Red Horse were unable to meet their obligations on the margin loan to MJK Clearing, Inc. Trading in the stock of GenesisIntermedia was halted in September 2001. Khashoggi’s unwillingness to pay his margin loan to Native Nations Securities, and Native Nations (and Red Horse’s) inability to pay its debts to MJK Clearing, began a series of bankruptcies that ended in the largest payout in Securities Investor Protection Corporation history. Native Nations Securities and MJK Clearing both eventually filed for bankruptcy.
  • Rakesh Saxena was put in prison, pending extradition to Thailand. On October 29, 2009, he was deported to Thailand after fighting the longest extradition battle in Canadian history, which lasted thirteen (13) years. He is accused of embezzlement in 1994-1995. He is widely reputed to have been engaged in dozens of high risk ventures and deals throughout the world over the previous three decades. Saxena has been accused of many things but has not convicted of anything yet. In India, Saxena has been accused of culpable homicide, extortion, uttering death threats and cheating in the death of biscuit tycoon Rajan Pillai. Those allegations were laid after the tycoon’s widow, Nina Pillai, accused Saxena and three others of conspiring to kill her husband. Former bank officials in Thailand have claimed that Nina Pillai continued to be financed by Saxena after her husband’s death.
  • The Government of Thailand accuse Saxena embezzling $88 million from the Bangkok Bank of Commerce (BBC) and sought his extradition from Canada. The bank had separately filed civil proceedings against Saxena. He has filed a counter-suit.
  • The collapse of the BBC was one of the first dominoes in a financial crisis that spread across Asia, shaking the world economy in 1997. While some blame Saxena for sparking the inferno – The Wall Street Journal described him as the “Mrs. Leary’s cow of the global financial crisis” – he is not facing court action on that score. He is also linked to some of the major hedge fund problems of the late 1990s, particularly problems linked to third world bonds and leveraged currency and interest rate derivatives on such bonds and to problems now associated with Russian and East Europe privatizations of the Yeltsin era.
  • No charges were laid in the ill-fated Sierra Leone affair. The British Parliament’s Report of the Sierra Leone Arms Investigation concluded that the purchase of weapons with Saxena’s money only technically broke a United Nations embargo and that Canada was not yet enforcing the embargo.
  • Raoul Berthaumieu did not get a good reputation either. If you put the name of his company, Pacific Federal SA into a search engine, plenty of warnings appear, not to do business with this company. In 2001, Raoul Berthaumieu, was a head of the supervisory board of GenesisIntermedia.

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From: insidertruth2/17/2016 5:03:00 PM
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I recently saw Ramy El-Batrawi proof of funds from Bank of America for $1.2 Billion dollars in his business account for a project he is working on. He is trying to purchase a resort hotel in Las vegas.

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From: insidertruth2/17/2016 9:55:18 PM
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El-Batrawi formed Genesis Media group, Inc in late 1993, changed the Name to GenesisIntermedia, Inc before taking it public in 1998 under the symbol GENI. GenesisIntermedia was a marketing and incubator company. The Company was very successful and the stock rose at an average of 160% a year until the events of the 9/11 attack of 2001.

Prior to the attack of September 11 attacks GenesisIntermedia (GENI) became a battleground between the shareholders of GENI, led by El-Batrawi, and short sellers intent on destroying the company. This battle began in 2000 and hit a fever pitch in 2001 till the stock was halted when the market crashed after the attack of September 11 attacks.

Some of the facts surrounding this battle:

• Corrupt FBI agents worked for the short sellers

• Many of the short sellers were illegal naked short sellers

• Multiple legal cases, including criminal cases, have resulted from the Battle for GENI

This epic battle between El-Batrawi and illegal short selling is an amazing story of greed and corruption. El-Batrawi has been sued and lost millions of dollars in this battle. When it was all said and done El-Batrawi was vindicated and several people including two FBI special agents were convicted of criminal acts including, fraud, extortion and perjury, all related to GenesisIntermedia.

At the end of a seven-year investigation the justice department found no wrongdoing by El-Batrawi. The class action suit that was filled against GenesisIntermedia and El-Batrawi was declassified as a class and then later dismissed. [5] [6] Just before the statue of limitations expired the SEC filed a lawsuit in haste. The SEC lawsuit was settled without any fines and El-Batrawi entered in a consent decree with the SEC not admitting or denying any of the allegations to avoid any further legal bills.

The true culprits of the GENI Debacle were illegal shorter’s including famed shorter Anthony Elgindy. Also involved where three FBI agents Jeffrey Royer, Lynn Wingate and Cleveland.

On May 22, 2002, FBI agents Jeffrey A. Royer and Lynn Wingate were indicted for engaging in securities fraud, racketeering and obstruction of justice. An extortion charge was also filed against Jeffrey Royer.

Elgindy was arrested in San Diego in May 2002 along with FBI agents Jeffrey Royer and Lynn Wingate, who have been using their FBI positions to feed information on various corporations to Elgindy.

Elgindy used his site to give the impression that he was a selfless “crusader,” thus further exaggerating his influence. At trial Michaelson testified, the defendant “lied all the time. Exaggerated, enhanced himself. Made himself look good.” As noted, he outright lied with respect to GENI. All of these deceptions served to intentionally enhance the defendant’s ability to influence trading and prices.

SEC Attorney Rob Long testified that agent Royer contacted him in January 2001 with information on Genesis Intermedia (GENI) that he had received from Mr. Elgindy. Long then contacted Mr. Elgindy several times and Mr. Elgindy gave him additional information about GENI. In fact, Long requested Mr. Elgindy’s report on GENI, contacted Mr. Elgindy to “follow up” on GENI, and received and reviewed the email alert on GENI from Insidetruth.com

For GENI, and other stocks, the government submitted evidence of the dissemination of alleged law enforcement information on the website through chat logs. The government submitted evidence of dissemination of law enforcement information to Mr. Cleveland and Mr. Elgindy. Royer and Cleveland passed confidential law enforcement information to the defendant, who then passed the information to AP members, concerning GenesisIntermedia (“GENI”) and other stocks.

On July 2001 El-Batrawi sourced acquisitions for Genesisintermedia and arranged $100 million in acquisition loan commitment from Carl Icahn’s Riverdale, LLC for GenesisIntermedia, Inc.

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From: insidertruth2/17/2016 10:03:19 PM
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It looks like Ramy El-Batrawi's net worth has exceeded $1 billion again since the attack on his company GENI and the aftermath. 2016 will be a big year for him he has at least three large transactions closing this year, each exceeding 1 billion dollars each.

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