Posted on 04/18/2014 6:36:13 PM PDT by B4Ranch
Every account held by Reid Bunkerville LLC (essentially secret bank accounts), and Reid-related energy/land accounts at Zion Bank Corp need to be unveiled ASAP.
Nevada taxpayers, ranchers, cowboys, cowgirls, militias, cattlemen, landowners, taxpayers, Bundy sympathizers, Oathkeepers and other patriots must demand the Bank Secrecy Act be employed to uncover and prosecute all of Reid's shady dealings.
Under the Bank Secrecy Act, banks are required to establish, implement and maintain programs designed to detect and report suspicious activity indicative of money laundering, and that might be indicative of govt fraud, embezzlement, and other financial crimes.
“The Bank Secrecy Act was enacted to protect the public from harm by identifying and detecting money laundering from criminal enterprises, terrorism, tax evasion, govt fraud, bank fraud, or other unlawful activities,” the special agent in charge for Internal Revenue Service Criminal Investigation, explained.
L/E needs to examine the above-referenced bank and Reid-related accounts. ASAP.
<><> Joint bank accounts might be used to facilitate the transfer of of govt funds. Govt monies may pay for personal and private expenses, credit cards, real estate subsidies and vehicle purchases.
<><> To cover their tracks, the principled might create fake invoices to show that money deposited into accounts was being used for legitimate purposes.
The scheme might be advanced by issuing phony statements of payments from federal and state sources that actually covered the transfer of funds for the principles own use.
<><> L/E is directed to get ahold of: (1) copies of Reid checks, (2) wire transfers, (3) account statements, (4) invoices, (5) bills, (6) delivery tickets, (7) correspondence including e-mail, contracts, loan agreements, and, (8) any other books or records. L/E should also explore (a) monies paid to brokers, sub-brokers, (b) family members, (c) mortgage brokers, (d) financial managers, and, (e) real estate agents, brokers, and developers.
<><> L/E should scrutinize bank accounts for suspicious activities: (A) large deposits, (B) funds transferred from one account into another, (C) frequent requests for withdrawals.
<><> Bank records might also show diversions to other LLcs, secret offshore accounts, to operate personal businesses. Fraud can also be facilitated by withdrawals, gift cards purchases, credit card purchases and intrabank transfers from seemingly legit accounts into personal accounts on orders of the accountholders.
<><> A huge tipoff is whether bank withdrawals support payments for real estate, investment and stock holdings, vehicles, offshore travel and so on.
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REFERENCE When Madoff went to jail, investigators found Ponzi King Bernie had stashed billions offshore---into a labyrinth of financial and business entities.
COLLUSION AND CONSPIRACIES GALORE Some $8.9 billion was funneled to Madoff through a dozen so-called feeder funds based in Europe, the Caribbean and Central America......a labyrinth of hedge funds, management companies and service providers that, to unsuspecting outsiders, seemed to compose a formidable system of checks and balances. But the purpose of this complex architecture was just the opposite: the feeder funds provided different modes for directing money to Madoff in order to avoid scrutiny.
I’m sure there’s money laundering going on but what perked my interest was the land transfers with no money changing hands or so it was recorded on the titles.
I wouldn't be surprised if Reid didn't have major dirty hands... but very carefully concealed and ‘technically’ within the law. A good reporter could check some of this stuff out - but democrats own them - so it won't happen.
Seems that ordinary men get elected to congress and within a few short years they're multimillionaires. I suspect many of them don't 'fight for the right' be be congressmen because they want to be public servants but because they want to feather their own nests...and accumulate power.
Rusty might also be right about the use of the IRS as personal 'thugs for hire' - without having to 'hire' them...Nothing would surprise me...
Liz - I enjoyed your comments on this thread.
CNBC's American Greed did the segment on a huge land fraud in Florida---an elaborate scheme that fooled retirees, seasoned real estate agents and big companies alike. The list of alleged victims is still growing long after the crooks fled to Russia.
Allegations include claims that the Florida-based Sky Development Group:
- Forged deeds and sold more than $1M n worth of property it didn't own in one Citrus County development, Citrus Springs.
- Took millions of dollars for land without turning over the property to the buyers.
- Referred buyers to a fake title company managed by the crooks to close land deals.
- Took money for new homes it never built or never finished.
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Rory Reid is a lawyer; he claims he received "legal fees" via an account at Bonneville Bank. The fees from I Works’ general ledger that same day shows $50,000 was paid to RMR Consulting for “legal fees.” Another $200,015 was paid Dec. 2..
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We need to study the complex scheme one NY law firm engaged in before it was closed down for fraud.
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3/7/14 NY DAILY NEWS REPORT By Shayna Jacobs --Manhattan law firm top executives indicted in book-cooking scheme....three top executives of shuttered Manhattan firm firm Dewey & LeBoeuf were indicted Thursday in a $200 million book-cooking operation. They pleaded not guilty to grand larceny, scheme to defraud, securities fraud and falsifying business records.
Principles pleaded not guilty to grand larceny, scheme to defraud, securities fraud and falsifying business records. The fraud involved swindling big cash from insurance companies and financial institutions over a four-year period. --SNIP--
SOURCE Jefferson Siegel/New York Daily News http://www.nydailynews.com/new-york/nyc-crime/law-firm-execs-indicted-book-cooking-scheme-article-1.1713723#ixzz2vqNjKHQR
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ZEROHEDGE.COM---The Law Firm's Fraudulent Methods
RELATED CHARGES----MISLEADING BOND OFFERING--SEC filed a related civil lawsuit against Davis, DiCarmine, Sanders and two former Dewey finance officials, finance director Frank Canellas and former controller Thomas Mullikin. The SEC complaint accused the former executives of defrauding investors by misleading them about Dewey's finances in marketing materials for a $150 million bond offering in 2010.
By the end of 2008, the Schemers had created a document they called the “Master Plan” that described certain fraudulent accounting adjustments that the Schemers decided to pursue as part of the Scheme. From in or about the end of 2008 until the Firm’s bankruptcy in 2012, the Schemers input numerous of these and other fraudulent adjustments, and engaged in other fraudulent conduct, most of which made it appear that the Firm had either increased revenue, decreased expenses, or limited distributions to partners.
Some of these fraudulent adjustments and acts were:
a. Reversing disbursement write-offs – From 2008 through 2011, the Schemers improperly reversed millions of dollars of write-offs of client disbursements that the Firm had no intention or reasonable expectation of collecting.
b. Reclassifying disbursement payments – From 2008 through 2011, the Schemers improperly reclassified millions of dollars of payments that had been applied to client disbursements during the year and applied the payments instead to outstanding fee amounts.
c. Reclassifying Of Counsel payments – From 2008 through 2011, the Schemers reclassified millions of dollars of compensation to Of Counsel lawyers as equity partner compensation. Historically, Of Counsel compensation had been treated as an expense in the Firm’s financial statements.
d. Reversing credit card write-offs – In 2008 the Firm initially properly wrote off more than $2.4 million in charges from an American Express card associated with defendant SANDERS that had not previously been expensed and were not chargeable to clients. For year-end 2008, the Schemers fraudulently reversed this write-off and hid the amount in the Firm’s books as an unbilled client disbursement receivable. Each subsequent year, the Schemers initially wrote this amount off, but then reversed the write-off at year-end. The amount remained on the Firm’s books as an unbilled client disbursement receivable at the time of the bankruptcy.
e. Reclassifying salaried partner expenses – In 2008, the Schemers improperly reclassified as equity partner compensation millions of dollars in compensation paid to, and amortization of benefits related to, two salaried, non-equity partners. Similar amounts had previously been treated as expenses on the Firm’s financial statements, so the reclassification had the effect of reducing Firm expenses. This change in treatment was neither disclosed to the Firm’s auditors nor disclosed on the Firm’s audited financial statements. In later years, the compensation paid to these two salaried partners was classified as equity partner compensation.
f. Seeking backdated checks – During at least two year-ends from 2008 through 2011, the Schemers sought backdated checks from clients to post to the prior year. At the end of each of the Scheme years the Schemers engaged in efforts to hide the date on which checks were received by the Firm. These efforts minimized the risk that the Firm’s auditors would discover that December checks received in January, including backdated checks, were being posted to the prior year.
g. Applying partner capital as fee revenue – For year-end 2009, more than $1 million that had been contributed by a partner to satisfy his capital requirement was applied as a fee payment for the client of a different partner. This amount was backed out of fees and applied to the partner’s capital account during 2010, but for year-end 2010 it was again applied as a fee payment for the same client.
h. Applying loan repayments as revenue – In 2008, pursuant to defendant DAVIS’s authorization, the Firm took on $2.4 million in bank loans that benefitted defendants DICARMINE and SANDERS. In early 2012, defendants DICARMINE and SANDERS repaid the Firm the final $1.2 million owed under the loans but structured the transaction so the loan repayment would increase the Firm’s revenue for 2011.
Bottom line: on or about March 2012, the Scheme had collapsed in on itself. For years, the Schemers had been fraudulently claiming revenue that the Firm did not have and pushing expenses and financial obligations off into the future. The Firm could no longer pay partners enough to prevent their departure, and the Schemers could no longer fool the Firm’s lenders, investors, and others. The Firm declared bankruptcy; thousands lost their jobs; and the Firm’s creditors were left owed hundreds of millions of dollars.
Did anyone go to prison?
Don’t believe they’ve been tried yet.....just indicted.
We need James O’Keefe’s group to tear into all of Dingy’s Dirty Dealings, post haste. Hopefully, they (or SOMEONE) already have.
That’s perfectly hilarious ;)
Just read another thread where lawyer client privilege was denied because the “lawyer” was acting as an accountant to help disclose fraud
Made me rethink the entire Reid-legal clan! Is that why they all got law degrees— so they wouldn’t have to testify against each other ?
MONEY ALWAYS SPEAKS LOUDER than one following ones faith,
another PRIME EXAMPLE is the Kennedy’s and Catholic church, Pelosi
and Catholic church!!!! I think Beck’s stand on this is TOTALLY because
of the church, his stand on this is absolutely out of character for him!!!!
Being a lawyer compels adherence to strict rules....client/atty confidentiality is a biggie. They could lose their licenses if they breach that.
Accountants also are burdened w/ responsibilities toward clients.
Such as ....an accountant is the client's "fiduciary" (a fiduciary adds another level of responsibilities).
A fiduciary is compelled to protect the financial interests of the client in every transaction.
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All of this might be brought to bear on the Reids.
The Reid sons and son-in-laws all have law degrees No need to get outside people involved
Check out # 42 and 45.
Thanks, Liz.
.
BTTT
Just watched the entire video. This stuff has been going on for some time since the 80’s it appears.
Thi s story is bizarre as hell and then you can throw in mineral rights such as magnesium dolemite as well,water rights, oil fracking, you name it its all under discussion.Biggest question is how far will Vegas migrate and who will benefit first.
According to the whistle blower Hill in the video the Reid family trust holding of land especially near hwy170 increases as BLM land decreases. But, there is no record of who paid what or if anything was even paid for the land now in the name of the Reid family trust.
How does all that work?
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