möge JMW ihres amtes walten...
so looong *klonk*
/paketix
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http://www.reuters.com/article/2011/10/05/newyork-kontogiannis-idUSN1E7941SZ20111005?feedType=RSS&feedName=financialsSector&rpc=43
Developer gets 9 years for $98 mln mortgage fraud* Judge: "One of largest mortgage origination frauds"
* Kontogiannis already in prison for money laundering
* Banks lost combined $98 mln from fraud
NEW YORK, Oct 5 (Reuters) - A New York real-estate developer jailed for laundering bribes for former Congressman Randy "Duke" Cunningham was sentenced to nine years in prison Wednesday for playing a lead role in what a federal judge called "one of the largest mortgage origination frauds on record."
Thomas Kontogiannis, 62, received an initial sentence of 12 years 10 months, which was then reduced by U.S. District Judge Kiyo Matsumoto to nine years, to be served concurrently with the remainder of the eight-year sentence he received in 2008 for laundering money given to Cunningham, a former member of the U.S. House of Representatives who admitted to taking $2.4 million in bribes.
Kontogiannis, a U.S. citizen born in Greece, pleaded guilty in October 2010 to conspiring to commit bank and wire fraud. He faced up to 30 years in prison on that charge.
During the sentencing hearing in Brooklyn federal court, Matsumoto called Kontogiannis' scheme "one of the largest mortgage-origination frauds on record" in the United States.
"The offense is extremely serious, especially in light of the staggering losses," Matsumoto said.
From 2003 until 2007, Kontogiannis sold to Washington Mutual (WAMUQ.PK: Quote, Profile, Research, Stock Buzz) and DLJ Mortgage Capital Inc, a subsidiary of Credit Suisse AG (CSGN.VX: Quote, Profile, Research, Stock Buzz), mortgages he had fraudulently obtained on properties he owned in the New York boroughs of Queens and Brooklyn, according to federal prosecutors in Brooklyn.
Prosecutors said Kontogiannis arranged for family members, friends and employees to pose as straw buyers, taking out mortgages repeatedly on the properties. The mortgages, financed by entities controlled by Kontogiannis, were then sold to secondary buyers at the banks.
The banks lost a combined $98 million when payments stopped coming in on the fraudulent mortgages, prosecutors said. Kontogiannis has been ordered to pay that sum back to the banks in full.
Kontogiannis was arrested in June 2009 along with eight other individuals charged in the fraud. So far, seven of his co-defendants have pleaded guilty, according to the U.S. Attorney's Office.
An attorney for Kontogiannis, Gregory O'Connell, declined to comment.
The case is U.S. v. Kontogiannis et al., in the U.S. District Court for the Eastern District of New York, no. 09-360.
For Kontogiannis: Gregory O'Connell and Philip Patterson of DeFeis O'Connell & Rose.
For the U.S.: Assistant U.S. attorneys Shannon Jones and Claire Kedeshian.
(Reporting by Jessica Dye, editing by Bernard Orr)
Apple's Steve Jobs, Visionary Leader, Dead at 56
zur zeit spinnt hier alles....
beiträge doppelt
s ladet ewig
charts stimmen net
kommastellen werden versetzt
Rosen
Mary
den knick hier im September den gabs doch auch nicht, sonst hätt ich ja noch mehr gekauft:
guten morgen,
ich habe jetzt einige seiten gelesen, aber nix gefunden!
wer kann mir was zu dem brief sagen, den ich gestern im briefkasten hatte?! war aus Delaware!
viele dank!
Deutsche Mittelstands Nachrichten | 06.10.11, 00:24
Leider ist mein englisch nicht so, dass ich alle eingestellte docs in ihrer Aussage verstehe.
Anmerkung man müsste ein neues Forum starten nicht über Milch sondern über die wirtschaftliche Situation und was sich die Politik so leistet.
=
VG JUAN
ich verstehe die meisten hier ganz ehrlich nicht!!!Für mich persönlich spielen die auf Zeit und wollen UNS weiß machen dass wir NULL bekommen...die versuchen es mit einer Art sagen wir mal Hirnwäsche...
Die wissen ALLE genauso gut wie WIR, dass hier ein RIESENBETRUG vorliegt...zahlreiche INDIZIEN bestätigen das...und was machen DIE??blablabla....
Das kann doch nicht wahr sein, dass die einst größte Sparkasse der USA eindeutig in den RUIN befördert wurde, von JPM, der FDIC und wer weiß von wem noch alles und jetzt einfach so davon kommen ohne zu zahlen und dafür zu bluten!!!Und Hosen kommt an, von wegen die Commons gehen leer aus!!!Dem sollte man die ganze Kohle, die der mit WAMU gemacht hat inkl. 3-facher Strafe zurück verlangen...der sollte sich schämen..
Egal wie....egal wann... ich bin mir ganz sicher, dass in diesem Fall entweder bezahlt wird oder einige hinter Giiter sogar landen werden!!oder beides...
Genauso mit der Kaufpreisanpassung.....was ist nun damit???haben die meisten das vergessen?also bei einer Nacht und Nebelaktion wamu verschenken...und dann kommen mit halt nach § so und so ist der Kauf/Verkauf noch nicht endgültig abgeschlossen!?
Oh Mann...armes US of B...echt...und wenns noch 5 jahre dauert....egal...ich bleib drin...egal wie es ausgeht...
Und was bitte soll heute passieren?Ich schau ganz ehrlich nicht mal mehr großartig rein...es kommt wie es kommt entweder irgendwann hop oder top...
macht sich ganz offensichtlich vor der Mediation in die Hose. Er will den Personenkreis und vorallem die zu meditierenden Themen stark einschränken.
Mal schnell ein paar verlogene Kostenkalkulationen für die Mediation aus dem Hut zu zaubern entspricht seinem Stil.
Das IT von der confirmation zu trennen ist kein Schachzug von Rosen sondern zeigt seine Orientierungslosigkeit und Überforderung die ihm diese Tatsache einbringt. Weg damit ist ja wohl die billigste Variante. (Kindergartenniveau)
Jetzt hat er Angst, gemeinsam mit seinen Arbeitgebern und seinen Feinden an einem Tisch zu sitzen, weil er durch seine Lügengebilde und Anklagen betreffend Mitwirkung bei IT in seiner Handlungsfreiheit stark eingeschränkt ist.
Ich glaube nicht, dass dieser Typ noch von irgendjemanden ernst genommen wird. Natürlich schlägt er um sich, da seine Reputation von Tag zu Tag schwindet.
Dass dieser Mann noch nicht am Tropf hängt ist bewundernswert.
So präsentieren die sich selbst in der Finanzwelt....so funktioniert also WALLSTREET ja???na bravo...applause...ein 3-faches hiphiphurra statt...3-facher Strafe...
Also tickt die US of B so ja?Also hat der Mensch dort kein Wert?Es geht den GROSSEN nur ums GELD...anstatt den Menschen eine Sozialversicherung als Pflicht gesetzlich festzusetzen machen die was???Gehen an das den Menschen nach sichergedachte gesparte...oh Mann muss der STAAT arm sein....
Gott sei dank lebe ich in Deutschland!!!!
Good one by the EC, my take is in ( )
In fact, much of the expense and delay complained of in the Debtors’ Statement is of the
Debtors’ own making, traceable to the Debtors’ willful refusal to accommodate – or even to
acknowledge – the interests of many of its constituents.
Obviously, there can be no assurance that mediation will be completely or even partially
successful, but the Equity Committee submits the cost of finding out will be well spent.
The Debtors rely on an overstated burn rate to justify skipping mediation of
the entire plan. The $30 million per month figure cited by the Debtors is apparently derived
from the accrual of post-petition claims at the contract rate. At the federal judgment rate, the
interest accrued monthly is only approximately $11.4 million. Fees and expenses will be
incurred in some amount in addition to this, but those fees would undoubtedly be much greater if
teams of lawyers must gear-up for another contested confirmation hearing than they would for
mediation. (Crooks)
There are also potential benefits to the estate from some delay, which are
ignored by the Debtors. The billions in assets now held by the estate are earning interest,
presumably, in an amount that should offset at least some of the interest expense. More
significantly, postponing emergence until after January 1st will increase the size of the usable tax
NOL held by the reorganized debtor by several billion dollars. Indeed, the increase in value of
this NOL between a confirmation and emergence in December and one in January is so
significant that at this point confirmation should be postponed until the new
any mediation.
Mr. Kosturos would then be vested with the
authority to settle the very claims against the Settlement Note Holders these estates objected to
being brought in the first instance. As the Liquidating Trust Agreement is now drafted, he would
have authority to settle such claims without seeking this Court’s approval, (Yeah and We know Special K is going to cover everyones arse in this mess.)
If the Debtors intend that the Equity Committee will control the ongoing
Settlement Note Holder litigation, the plan must be modified accordingly. 3 And provisions must
be made for funding the case and determining settlement authority. None of these issues are
addressed in the Debtors’ proposal. Of course, the Debtors could have raised and discussed such
issues with the Equity Committee before filing their Statement yesterday. As has been typical of
the Debtors’ high-handed and hostile treatment of equity, they made no effort to do so. (That’s because they are trying to get as far away from this IT things as they can!)
Further, although the Plan authorizes the Liquidating Trustee to seek estimation of
Disputed Claims (Plan § 27.2), Mr. Kosturos is not the proper individual to pursue estimation of
the Settlement Note Holders’ claims for the same reasons that he should not have prosecution
and settlement authority over those same claims. (Fox guarding the henhouse)
Mr. Kosturos’ demonstrated animosity toward maximizing the value of the NOLs
renders him unsuitable to exercise the rights attendant to the Reorganized Common
those assets are held in reserve. And aside from that clearly unacceptable mechanism, there is no
other means by which to preserve the value of the NOLs, which equity holders believe can be
exploited but that the creditors have insisted they will disregard. (has to do with that little A vs L thing)
The
draft WMI Liquidating Trust Agreement attached to the Statement, however, suggests that the
Liquidating Trustee shall have the authority to settle, dispose or abandon any cause of action,
claim or litigation with a value in excess of $500,000 with only Trust Advisory Board approval
and without Bankruptcy Court approval. (Of course it does, who woulda thunk it)
Mr. Kosturos should not have any authority with respect to the estates’ potential
claims and causes of action against the Debtors’ former Officers and Directors – the same claims
that the Debtors have ignored for over two years and then attempted to sweep under the rug by
entering into tolling agreements in the middle of the July confirmation hearing. The Debtors
conduct to date amply demonstrates a willingness to sacrifice estate value to further the interests
of management and board members and thus the Debtors’ current representatives, including Mr.
Kosturos, cannot be relied upon to pursue these claims for the benefit of the Debtors creditors
and equity holders. (I remember discussing the tolling agreements back then)
The Equity Committee believes that after accounting for the modifications
to the Plan imposed by the Court’s September Opinion, the shortfall at the PIERS Class is less
than $50 million. (AND THE GAP DECREASES!)
Furthermore, the Liquidating Trustee
should be chosen by the Trust Advisory Board, not by the Debtors’ management (Mr. Kosturos)
who, not surprisingly, has chosen himself. (Nice punch in Special K’s gut Parker!)
Furthermore, the Liquidating Trustee
should be chosen by the Trust Advisory Board, not by the Debtors’ management (Mr. Kosturos)
who, not surprisingly, has chosen himself. (Bull Shiat Rosie!)
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=67733093
Gruß
Dude44
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