Major Banks Accused of Defrauding Veterans, Taxpayers (DSNews)

[chill_wind]

Major Banks Accused of Defrauding Veterans, Taxpayers

10/14/2011
Krista Franks

While five major banks continue to deliberate with the state attorneys general for a settlement involving violations in mortgage documentation, the same five banks, plus several others, also face charges for committing fraud against veterans and taxpayers.

Two Georgia-based mortgage brokers – Victor E. Bibby, president and CEO of U.S. Financial Services, Inc., and Brian J. Donnelly, VP of operations of U.S. Financial Services, Inc. – brought the case before a federal court in Atlanta. The case was just recently released to the public.

Bibby and Donnelly accuse 13 banks of “a brazen scheme to defraud both our nation’s veterans and the United States Treasury of millions of dollars in connection with home loans guaranteed by the United States Department of Veterans Affairs,” according to the court filing.

(snip)

The banks allegedly “submitted hundreds of thousands of false and fraudulent documents, records and claims,” following which “(t)ens of thousands of IRRRL loans have gone into default or resulted in foreclosure.

”

more at the link: http://www.dsnews.com/articles/major-banks-accused-of-defrauding-veterans-taxpayers-2011-10-14

Banksters deeds charges here adding up to hundreds of millions of damages to Americans in FRAUD.

In other news:

JPMorgan Rebuffs Reports That AG Settlement Is Imminent
10/13/2011
Carrie Bay

JPMorgan Chase used its third-quarter earnings call with investors Thursday to rein in expectations about when a mortgage servicing settlement might be reached with state officials.

CEO Jamie Dimon described the settlement talks as “getting bogged down” because of the many varying demands of each of the 50 state attorneys general, a couple of which have already pulled out of the negotiations because they disagree with the terms of the proposal under consideration.

JPMorgan is one of five major mortgage servicers involved in the negotiations, and Dimon’s remarks don’t jibe with the flood of media reports coming out this week citing unnamed sources who claim a final settlement agreement is just days away.

(snip)

Dimon told his company’s investors, “We would love to have some kind of settlement. We think it’s actually good for everybody to get (it done) and move on,” but he was quick to add, “if it’s reasonable.”

http://www.dsnews.com/articles/index/jpmorgan-rebuffs-reports-that-ag-settlement-is-imminent-2011-10-13

[sarcasmo]

1. Big banks only know one thing, GREED!

[rfranklin]

2. I would love some indictments...

If you or I falsified legal documents the way these crooks did, we would face decades in the a federal prison. they get to sit down in a conference room and bargain away their crimes and the trillions of dollars in losses as if they had done nothing wrong.

[chill_wind]

3. All so very stoic and antiseptic,

that Dimon. "Yesss. Let's just pop this little blister while it's still so painfully little (to us) and move along. Just trying to keep things reasonable."

[lonestarnot]

4. hmmmmf.