10 Banking Crimes They Hope You Forget About
Mick Meaney
RINF Alternative News
It’s long been established that the financial system is infiltrated and controlled by criminals, however recent scandals and the economic crash of 2008 has diverted attention away from other misdeeds, which should not be ignored -and serve as a reminder that widespread corruption within the banking industry is nothing new, in fact you could say it was built that way.
There are numerous other crimes perpetrated by banks including.
Iran Contra
In the Iran Contra scandal, the Bank of Credit and Commerce International revealed how it aided the CIA and other intelligence agencies in laundering billions of dollars in financial fraud, illegal drugs deals, and other crimes.
Drugs Money
In 2009 the United Nation’s drug and crime tsar reported to the observer that drug money to the tune of billions of dollars saved the financial system from going under during the global crisis.
“Allocated” Gold Scam
In August 2005 a Morgan Stanley were forced to settle a class-action law suit for duping their clients. The bank sold precious metal under false pretences, claiming that it was bought and stored by the company. The bank went ahead and invested in lesser value stocks and securities.
Fraudulent Foreclosure
Giant banks have been showed to have engaged in fraudulent foreclosure practices. The big banks used robosigners to forge mortgage documents which led to many people losing their homes. This included people that never held any mortgages. Even president Obama was affected. Attorney generals from 40 states have launched investigations.
Nazi Connections
In 1999 the BBC reported that the NAZIs were funded by American banks. According to unclassified documents, Manhattan Chase Bank froze the assets of Jews when it collaborated with German authorities during the war.
Mortgage Scam
The Bank of America NA received financial incentives from a federal program to assist homeowners get mortgage-loan modifications. However, it prevented the home owners from receiving these modification programs that could have saved them millions of dollars in losses.
Illegal Fees
And in a massive fraud against American taxpayers and veterans, JP Morgan Chase and San Francisco’s Wells Fargo Bank of America and appeared on the list of 13 banks and mortgage lenders that charged military veterans some illegal fees to refinance their home loans. In order to conceal the illegal fees, the banks and mortgage companies inflated the legal charges.
Hiking Interest Rates
Morgan Stanley was exposed for its part in hiking interest rates. Unsealed documents revealed that the global bank cabal colluded and schemed for many years to manipulate the interest rates.
Insider Trading
Research indicates that most cases of bank fraud usually involve the bank’s insiders. More than half of these cases usually involve chief executives finance directors and other senior managers.
Dirty Money
Recently, HSBC were accused in a report by the senate of exposing the American economy to money from Saudi Arabian terrorists, rogue regimes in Cuba and Korea and Mexican drug cartels.
Like always, these crimes are just a glimpse into the murky world of the corrupt establishment. Do your own research, the items listed here are just the beginning.
Notes:
http://content.time.com/time/magazine/article/0,9171,157496,00.html
http://www.latimes.com/business/la-fi-mo-hsbc-senate-20120717-story.html
http://content.time.com/time/magazine/article/0,9171,157496,00.html
http://www.washingtonsblog.com/2012/07/big-banks-funded-the-nazis-and-launched-a-coup-against-the-president-of-the-united-states.html
http://www.theguardian.com/global/2009/dec/13/drug-money-banks-saved-un-cfief-claims
http://uk.reuters.com/article/2007/06/12/morganstanley-suit-idUKN1228014520070612
http://www.washingtonsblog.com/2010/10/at-the-root-of-the-crisis-we-find-the-largest-financial-swindle-in-world-history-where-counterfeit-mortgages-were-laundered-by-the-banks.html
http://www.reuters.com/article/2012/03/08/bank-of-america-whistleblower-idUSL2E8E804820120308
http://www.zerohedge.com/news/unsealed-documents-expose-morgan-stanley-forcing-rating-agencies-inflate-ratings
http://www.sfgate.com/business/article/Banks-allegedly-charged-vets-illegal-mortgage-fees-2328659.php
http://www.theguardian.com/business/2012/jul/09/fraud-bosses-206m
Source: http://rinf.com/alt-news/latest-news/10-banking-crimes/
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