Posted on 11/10/2009 1:56:20 PM PST by Coleus
The informant who sparked the biggest criminal sting in New Jersey history briefly emerged from federal protection long enough yesterday to plead guilty to a $50 million bank fraud. But even as Solomon Dwek stood fidgeting before a judge in a perfunctory 30-minute appearance, explosive details about his private con schemes and his role as the cooperating witness in the ongoing federal corruption investigation were coming to light.
A Star-Ledger examination of court documents shows before Dwek became an informer for the FBI, he was running a wild Ponzi operation in which one investment was being used to pay off the debt mounting from the last one and on into the millions in the same kind of geometry that eventually exposed financier Bernard Madoff. The documents also seem to show that once Dwek turned informant he was so good at his work -- money launderer to religious leaders, bribe-taking developer to politicians -- that some of his targets seemed to be virtually throwing money at him.
In an amended bankruptcy petition, Dwek disclosed almost $500,000 in 20 separate secret payments:
There was $75,100 from a former partner, "left in a garbage bag behind his office."
And another $28,400, labeled as "kickbacks for the sale of Florida properties."
Some $9,000 in deposits returned on a cancelled deal for two condominium units located in Miron, Israel.
And $5,000 that were listed as "fictitious charitable donations given through Solomon Dwek's American Express card."
The payments mostly came from people who were set up by Dwek. And the money went straight to the feds, the documents show. The entries, in Dwek's own words, were included in the amended petition because by law all assets must be accounted for, it seems, if the money came from a sting and was passed on to the feds.
(Excerpt) Read more at nj.com ...
With 140 or so millionaires in congress, you’d think the FBI would be working overtime just there. Maybe they go after the little state govt. criminals but let the REALLY HUGE DC CRIMINALS GO FREE ! ! !
Democrat?
Syrians
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