Skip to comments.Millions missing in funds controlled by L.A. federal judge (US District Court Judge Manuel L. Real)
Posted on 04/01/2009 5:29:25 PM PDT by NormsRevenge
At least $5 million, and perhaps 10 times that amount, appears to be unaccounted for in funds entrusted to U.S. District Court Judge Manuel L. Real, and the rival Filipino claimants to the account want the controversy-plagued Los Angeles judge to provide full details of what happened with their money.
In a protracted legal action brought by victims of late Philippines dictator Ferdinand Marcos, Real had been given control over about $34 million in assets seized from a Swiss bank account and a Panamanian shell company while the Manila government, the Philippines National Bank and individuals abused by Marcos pressed their claims to rightful ownership of the funds in U.S. courts.
But the U.S. Supreme Court last year sent the battle to Philippines' courts to resolve, and it ordered Real to remit the entrusted funds to a Merrill, Lynch, Pierce, Fenner and Smith Inc., account for safekeeping while the ownership issues are resolved.
Real, 85, who has been privately reprimanded by the judicial council of the U.S. 9th Circuit Court of Appeals for misconduct and been stripped of responsibility for at least eight cases, has so far refused to provide more than a perplexing half-page list of account activity that leaves unclear whether or how much interest was earned on the funds over nearly a decade. His account mentions a $63,000 payment for trustees fees and nearly $5 million in "other disbursements." It also alludes to $98 million in purchases and $118 million in sales, suggesting the account earned at least $20 million in transactions.
Real "doesn't comment on things," his clerk, William Horrell, said when The Times called the judge's chambers for his reaction to demands that he explain what happened to the plaintiffs' money.
(Excerpt) Read more at latimesblogs.latimes.com ...
Born 1924 in San Pedro, CA
Federal Judicial Service: Judge, U. S. District Court, Central District of California Nominated by Lyndon B. Johnson on September 26, 1966, to a new seat created by 80 Stat. 75; Confirmed by the Senate on October 20, 1966, and received commission on November 3, 1966. Served as chief judge, 1982-1993.
Education: University of Southern California, B.S., 1944
Loyola Law School, Los Angeles, CA, LL.B., 1951
Professional Career: U.S. Naval Reserve, 1943-1945 Assistant U.S. attorney, Southern District of California, 1952-1955 Private practice, San Pedro, California, 1955-1964 U.S. Attorney for the Southern District of California, 1964-1966
Race or Ethnicity: Hispanic
So many crooks—so little prosecution!
Do all these people steal?
Probably is a tax cheat as well. Gosh, that would make him eligible for appointment to Zerobama’s cabinet!
DimoRat appointee. Figures. Did anyone check his freezer??
Trillions of dollars are being wasted in DC as we speak.
I would bet a hefty sum that a big chunk of the so-called TARP money is finding its way to numbered bank accounts. No need to even mention who might be suspect.
I wonder if he didn’t invest a couple of mil with Uncle Bernie?
Check the freezer!