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LA Times: Bank at center of Rep. Waters inquiry has checkered past
Los Angeles Times ^ | August 12, 2010 | By E. Scott Reckard and Stuart Pfeifer

Posted on 08/12/2010 5:34:30 AM PDT by Oldeconomybuyer

OneUnited Bank, the financial institution at the center of a congressional ethics investigation involving Rep. Maxine Waters, paid for a luxurious lifestyle for its chairman, including a Porsche and a house on Pacific Coast Highway in Santa Monica despite his having a record that includes arrests and allegations of drug use.

The bank has been criticized by regulators in Florida for having an unusually poor record of lending to people in low-income neighborhoods. It also has failed to pay back $12 million in federal bailout funds.

Cohee's high-flying perks came despite his having been charged in 2007 with felonies after his arrest by the Santa Monica Police Department on suspicion of possessing cocaine, crack cocaine and concentrated cannabis, according to the Los Angeles County district attorney's office. The case was dismissed the next year after Cohee completed a drug diversion program.

He was also arrested in 2007 after a woman filed a complaint alleging that Cohee had forcibly sodomized her, according to public records. Prosecutors did not pursue the assault charge. The Boston Herald quoted Cohee as saying that the arrest was "utter and complete nonsense that went nowhere."

Cohee could not be reached Wednesday for comment on the arrests.

(Excerpt) Read more at latimes.com ...


TOPICS: Crime/Corruption; News/Current Events; Politics/Elections; US: California
KEYWORDS: maxinewaters; oneunited; oneunitedbank

1 posted on 08/12/2010 5:34:33 AM PDT by Oldeconomybuyer
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To: Oldeconomybuyer

Unusually poor record of lending to people in low-income.
Obamaites are like cockroaches there all over the place.


2 posted on 08/12/2010 5:41:30 AM PDT by Vaduz
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To: Oldeconomybuyer
“Cohee had forcibly sodomized her”

I suppose that if this case didn't have anything to do with waters the LA Times would've used the conventional term RAPE.

3 posted on 08/12/2010 5:51:31 AM PDT by Tempest (I give up)
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To: Liz; onyx; STARWISE; penelopesire; maggief

mmm mmm mmm

More banking problems

This time Waters will go under the bus

(WOnder what the bank’s connection to CHicago/Obama is?)


4 posted on 08/12/2010 5:53:28 AM PDT by hoosiermama (ONLY DEAD FISH GO WITH THE FLOW.......I am swimming with Sarahcudah! Sarah has read the tealeaves.)
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To: All
Can OneUnited Bank prove where it spent the $12 millions TARP bailout?

Anyone at OneUnited Bank involved in any criminal activity, illegalities, and improprieties needs to be held accountable. Jail time is mandatory.

We need to connect the dots to Waters federal and state campaign finance filings. If M/M Waters colluded to extort TARP money for OneUnited Bank that was legislated for one purpose.....but that TARP money was converted for other purposes---perhaps even campaign donations----that is illegal.

ACTION The FBI should interrogate M/M Waters to determine if anything of value was exchanged---money, jobs, campaign contributions, political cover---in exchange for bailout money, and the extent of the collusion to misuse Congressional influence.

POSSIBLE CHARGES: illegal conversions; facilitating govt fraud; official acts prohibited; misuse of Congressional funds; abuse of public office; violating oath of office; misuse of government position; abuse of government power; conflict of interest; influence buying; conspiracy to deceive; misuse of elective office, collusion, conspiracy to collude; falsifying official documents, presenting false instruments for filing.

M/M Waters official campaign finance records filed with the FEC, and state election commissions, should be scrutinized for possible violations. (a) Determine if names of contributors are legit, (b) whether campaign contributions were disguised. (d) whether they colluded and agreed to give/get something of value, campaign assistance, campaign cash, a govt gratuity, jobs for relatives, etc, in exchange for TARP money.

FBI TIP PAGE http://tips.fbi.gov/ (you may remain anonymous)

Schemes such as illegal conversions and money laundering to evade the IRS, SEC, FEC and US banking laws may have been utilized.

==================================

Since several felonies have been alleged, it is also possible that other federal offenses have also been committed including but not limited to;
Title 18 U.S.C. §1341, Mail Fraud,
18 U.S.C.§1001, Presenting a False Document to the an Agent of the US Govt;
18 U.S.C.§1027 False statements and concealment of facts WRT documents required by the Employee Retirement Income Security Act of 1974
Other possible offenses including civil and/or criminal RICO violations.
18 U.S.C. §§1961-68 (RICO Act)
18 U.S.C. §1001 (False Statements to Agents of the US Government),
18 U.S.C. §241 (Conspiracy Against Civil Rights).

Full investigations of a RICO conspiracy under 18 U.S.C. §1962(c) are warranted because (1) the defendant persons (2) were employed by or associated with an enterprise (3) that engaged in or affected interstate commerce and that (4) the defendant persons operated or managed the enterprise (5) through a pattern (6) of racketeering activity, and (7) the complaints were injured in its business or property by reason of the pattern of racketeering activity.

Thus, a formal RICO investigation is warranted, since violations of Title 18 U.S.C. §241 may have occurred. Conspiracy Against Constitutional Rights – prohibits in relevant part, “two or more persons (from conspiring) to injure, oppress, threaten, or intimidate any person in any State, Territory, Commonwealth, Possession, or District in the free exercise or enjoyment of any right or privilege secured to him by the Constitution or laws of the United States, or because of his having so exercised the same . . .” See, 18 U.S.C. §241.

=========================================

OneUnited Bank filed thousands of document. Taxpayers demand to know the scope and dimension of deceptive and intentionally ambiguous information contained therein.

OneUnited Bank may have violated RICO (the Racketeer Influenced and Corrupt Organizations Act) by generating fraudulent documents to extort taxpayers and steal govt monies.

L/E should place a hold on all OneUnited Bank documents. Stealing and conveying (or destroying) official govt records nets 10 years in prison and a $250,000 fine. L/E should also look at Computer Trespass--a class C felony if access is made with the intent to commit a crime and/or the violation involves a computer or database maintained by a government agency.

============================================

Did OneUnited Bank advertise low ball salaries for public consumption, then file falsified papers to get much higher salaries. LE should examine all OneUnited Bank perks, expense accounts, unauthorized 6-figure bonuses, pensions, tax-evading annuities, etc, etc, etc.

==================================

THE BIG ONE M/M Waters’ tax returns will reveal their actual bank income compared with the bank’s accounting entries. In particular, examine M/M Waters’ “interest income” on IRS forms.

IRS TOLL-FREE 1-800-829-0433 (you may remain anonymous when reporting possible tax fraud).

The IRS should relentlessly pursue these individuals to determine if all relevant income was reported and whether all taxes due were paid (stolen money is taxable).

===============================

THE MODUS OPERANDI? (1) Awarding bloated contracts to cronies and family that had “kickback” written all over it? (2) Pricing a contract lower on paper then increasing the amount taken out of the budget? (3) Having a hidden equity interest in companies receiving contracts?

NEEDS TO BE DONE NOW L/E must should demand all records filed by OneUnited Bank. L/E may be looking at the legal parameters of prosecutable crimes including collusion, making false statements to state/federal officials, obstructing proceedings before state/federal agencies, conspiracy; obstructing and delaying US justice.

5 posted on 08/12/2010 6:03:23 AM PDT by Liz
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To: hoosiermama
Wonder what the bank’s connection to Chicago/Obama is?

Don't forget Ohaha/Rahm/Biden control the $$$bailouts. The deal could be that Waters would get the $12 million TARP bailout in exchange for campaign contributions.

They could have used anyone to make the contributions----but it would be interesting to see the extent of OneUnited Bank personnel who contributed.......maybe bundling contributions.

6 posted on 08/12/2010 6:08:33 AM PDT by Liz
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To: All

Kevin Cohee, Chairman & CEO of OneUnited Bank

As Chairman & CEO of OneUnited Bank, I would like to share my perspective about these economic times. It is more important than ever to have real conversations about money with your family and friends. It’s also important to have a real understanding of how you are spending and saving your money.

As a Community Development Financial Institution, we believe savings provides protection for families and businesses…which is why we promoted savings to urban communities when other institutions were promoting subprime mortgages. So consider the following real affordable choices for your money. SOURCE OneUnited Bank web site.

7 posted on 08/12/2010 6:14:02 AM PDT by Liz
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To: Vaduz

Yes and if you see one, you better call orkin because there are hundreds hiding.


8 posted on 08/12/2010 6:16:32 AM PDT by Marty62 (marty60)
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To: All
Ut, oh---this could be huge. Crimes committed under the aegis of the FDIC means big trouble for this bank.

SOURCE OneUnited Bank web site: Important disclosures regarding the FDIC’s Transaction Account Guarantee Program: OneUnited Bank is participating in the FDIC's Transaction Account Guarantee Program. Under this program, the FDIC temporarily provides a full guarantee for deposits held by FDIC insured institutions in noninterest bearing transaction accounts. This coverage became effective on October 14, 2008 and will expire at 11:59 PM EST on December 31, 2010.

Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC's general deposit insurance rules. OneUnited Bank does not guarantee that its rates for interest bearing checking, money market and IOLTA accounts will not exceed 0.25%, and therefore these accounts are not eligible for TAGP. Please visit the FDIC website for more information on this pro gram (www.fdic.gov)

9 posted on 08/12/2010 6:17:20 AM PDT by Liz
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To: Liz; maggief; STARWISE
campaign contributions = money laundering

Of course....

They have to keep the members on the plantation.

10 posted on 08/12/2010 6:20:10 AM PDT by hoosiermama (ONLY DEAD FISH GO WITH THE FLOW.......I am swimming with Sarahcudah! Sarah has read the tealeaves.)
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To: Liz
ACTION The FBI should interrogate M/M Waters to determine if anything of value was exchanged---money, jobs, campaign contributions, political coverDRUGS
11 posted on 08/12/2010 6:22:21 AM PDT by hoosiermama (ONLY DEAD FISH GO WITH THE FLOW.......I am swimming with Sarahcudah! Sarah has read the tealeaves.)
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To: hoosiermama

The FBI isn’t going to do a damned thing.
These people are from a protected class...


12 posted on 08/12/2010 6:31:04 AM PDT by Eric in the Ozarks (Impeachment !)
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To: hoosiermama
The FBI should interrogate M/M Waters to determine if anything of value was exchanged---money, jobs, campaign contributions, political cover.......and DRUGS.

Good addition.....maybe her grandson (her COS) knows?

13 posted on 08/12/2010 6:42:18 AM PDT by Liz
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To: stephenjohnbanker; CutePuppy; TommyDale; sickoflibs; writer33; marstegreg; PGalt; GOPJ; ...
OneUnited is a Boston-based bank with branches in Massachusetts, Florida and California. The bank has been criticized by regulators in Florida for having an unusually poor record of lending to people in low-income neighborhoods.

OneUnited Bank is now at the center of a congressional ethics investigation involving Rep. Maxine Waters (D-Cali). She is accused of facilitating $12 million in federal bailout funds while her husband was affiliated with the bank, that the bank has failed to pay back.

=====================================

OneUnited Bank paid for a luxurious lifestyle for its chairman and CEO Kevin Cohee.........including a Porsche and a house on Pacific Coast Highway in Santa Monica......... despite Cohee's having a record of arrests and allegations of drug use.

Cohee's high-flying perks came despite his having been charged in 2007 with felonies after his arrest by the Santa Monica Police on suspicion of possessing cocaine, crack cocaine and concentrated cannabis, according to the Los Angeles County district attorney's office. The case was dismissed the next year after Cohee completed a drug diversion program.

Cohee was also arrested in 2007 after a woman filed a complaint alleging that Cohee had forcibly sodomized her, according to public records. Prosecutors did not pursue the assault charge. The Boston Herald quoted Cohee as saying that the arrest was "utter and complete nonsense that went nowhere."

Kevin Cohee, Chairman & CEO of OneUnited Bank

14 posted on 08/12/2010 7:01:38 AM PDT by Liz
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To: Oldeconomybuyer

Uh, no...that’s CRIMINAL past!!!


15 posted on 08/12/2010 7:38:09 AM PDT by Oldpuppymax
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To: Liz; All

” OneUnited Bank paid for a luxurious lifestyle for its chairman and CEO Kevin Cohee.........including a Porsche and a house on Pacific Coast Highway in Santa Monica “

For those who don’t know, there are only about a dozen homes here, and they rent for about 20,000 per month ;-)


16 posted on 08/12/2010 8:12:38 AM PDT by stephenjohnbanker (.Go troops! " Vote out RINOS. They screw you EVERY time" Jim Robinson)
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To: stephenjohnbanker

“Pacific Coast Highway” conjures up big buck drivers.


17 posted on 08/12/2010 8:26:18 AM PDT by Liz
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To: Liz

Yep. Oceanfront homes in Malibu rent from 20,000 for a ratrap, to 75000 per month for The Colony...(where all the left wing movie stars endure their suffering).


18 posted on 08/12/2010 8:38:09 AM PDT by stephenjohnbanker (.Go troops! " Vote out RINOS. They screw you EVERY time" Jim Robinson)
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To: Liz
The IRS should relentlessly pursue these individuals

They've probly already made contact with Porkgut...


19 posted on 08/12/2010 8:39:48 AM PDT by ErnBatavia (It's not the Obama Administration....it's the "Obama Regime".)
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To: stephenjohnbanker

Well, at least all the whining left wing movie stars have a view of the ocean while they’re suffering


20 posted on 08/12/2010 8:41:01 AM PDT by Liz
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To: Liz

View? Hell....the homes in the Colony are only 20 feet from the water.

I got to spend a weekend in a friends house there years ago. Just open the french doors, and go to sleep by the sound of the surf. Heaven on earth for those of us that love the ocean. The homes run from 12 to 30 million at about 2500 to 3500 sq. feet ;-)


21 posted on 08/12/2010 8:48:24 AM PDT by stephenjohnbanker (.Go troops! " Vote out RINOS. They screw you EVERY time" Jim Robinson)
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To: stephenjohnbanker

HHHmmmm Is that the part that’s going to fall into the ocean when the “BIG” one comes? ;~)


22 posted on 08/12/2010 9:16:48 AM PDT by hoosiermama (ONLY DEAD FISH GO WITH THE FLOW.......I am swimming with Sarahcudah! Sarah has read the tealeaves.)
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To: Liz

Liz, pointing out that there was such abuse as this by a ‘minority bank’ is just “racist”! (/sarcasm)

I wonder how much of this information is actually going to be reported?


23 posted on 08/12/2010 9:29:08 AM PDT by TommyDale (Independent - I already left the GOP because they were too liberal)
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To: TommyDale

I did the hard part-——I put it all out there.

The rest is up to L/E.


24 posted on 08/12/2010 9:43:49 AM PDT by Liz
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To: hoosiermama

If it does, a lot of rich liberals are going to meet their maker early ;-)


25 posted on 08/12/2010 1:01:01 PM PDT by stephenjohnbanker (.Go troops! " Vote out RINOS. They screw you EVERY time" Jim Robinson)
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To: Liz; All
OneUnited Bank
100 Franklin St.
Boston MA 02110

2009 Employees: 130
2009 Revenues: $41M

The largest African-American owned and run bank in the US, OneUnited Bank was formed by the 2001 merger of Boston Bank of Commerce, Founders National Bank of Los Angeles, and People's National Bank of Commerce in Miami. After acquisition of Los Angeles' Family Savings Bank in 2002, OneUnited Bank operates about 10 offices that serve urban communities in California, Massachusetts, and Florida.

Since 2003, the bank has financed more than $500 million in loans, with about half that amount devoted to the development of low- to moderate-income communities. Loans for multi-family residential properties account for almost two-thirds of the bank's portfolio.

OneUnited Bank opened the first black-owned Internet bank in the country in 2006, to expand its presence beyond the brick and mortar branches in communities in which it operates.

Board Members

Title Name Add'l Info
Chairman and CEO  Kevin Cohee JD, Harvard Law School
MBA, University of Wisconsin
Member Alpha Phi Alpha Fraternity Inc.
Board Member, Boston Bank Of Commerce
fmr. with Salomon Bros, Inc.
President and Director Teri Williams MBA., Harvard University
Board Member, Greater Deliverance Ministries Inc.
Board Member, The First Black-Owned Internet Bank
fmr. with Blacks in Government
Director  J. Alan Rosen MBA, NYU School of Business.
Chairman and Treasurer, Century City Chamber of Commerce
Treasurer, Beyond Shelter
Board Member, Foundation for the Preservation of Film Music
Director  George A. Russell Jr. MBA, NYU Stern School of Business
Board of Advisors, Boston University
State Street Corp.
fmr. with City of Boston
fmr. with Urban League
stepped out from OneUnited board - March 2010
Director Richard D. Carr D.D.S.
Board Member, Urban League
Boston University School of Dental Medicine
fmr. with Roxbury Medical and Dental Group
Director  John L. Sims
Director  Walter B. Prince
Director  Melvin B. Miller
Director  Leander J. Foley

State Street official left OneUnited. Resigned from board despite firm’s stake - BG, 2010 August 13, by Beth Healy


26 posted on 08/13/2010 2:37:51 AM PDT by CutePuppy (If you don't ask the right questions you may not get the right answers)
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To: CutePuppy; stephenjohnbanker; maggief; STARWISE; hoosiermama; Tempest; Vaduz; Oldeconomybuyer
I hear that, these days, Cohee has the affirmative action office of Harvard Law School on speed-dial.


OneUnited Bank Chairman and CEO, Kevin Cohee
JD, Harvard Law School
Board Member, Boston Bank Of Commerce
Formerly with Salomon Bros, Inc.

Thanks to Cong Maxine Waters, OneUnited Bank was bailed out with our tax dollars which helped finance a luxurious lifestyle for chairman and CEO Cohee, including a Porsche and a mansion on the exclusive Pacific Coast Highway.

Cohee's high-flying perks came despite his having been charged in 2007 with felonies after his arrest on suspicion of possessing cocaine, crack cocaine and concentrated cannabis, according to the LA County DA's office. The case was dismissed the next year after Cohee completed a drug diversion program.

Cohee was also arrested in 2007 after a woman filed a complaint alleging that Cohee had forcibly sodomized her, according to public records. Prosecutors did not pursue the assault charge. The Boston Herald quoted Cohee as saying that the arrest was "utter and complete nonsense that went nowhere."

27 posted on 08/13/2010 5:42:10 AM PDT by Liz
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To: CutePuppy; stephenjohnbanker; hoosiermama; STARWISE; penelopesire; maggief; Ernest_at_the_Beach; ...
US Representative Barney Frank (D-Mass),House Financial Services Committee chair, helped author the bill that enabled OneUnited Bank and low-performing banks like it to get taxpayers bailout funds. But yesterday he appeared to distance himself from the troubled bank. “I never told any regulator I wanted OneUnited or any other bank to get TARP money," he said, adding, “At no point have I ever suggested any withholding of full regulatory scrutiny."

EASY QUESTION FOR BWANEY If there was no withholding of full regulatory scrutiny, which of these regs screwed-over taxpayers?

TITLE I—TROUBLED ASSETS RELIEF PROGRAM (required 'Congressional Oversight' sections listed)
Sec. 101. Purchases of troubled assets.
Sec. 102. Insurance of troubled assets.
Sec. 103. Considerations.
Sec. 104. Financial Stability Oversight Board.
Sec. 105. Reports.
Sec. 107. Contracting procedures.
Sec. 108. Conflicts of interest.
Sec. 111. Executive compensation and corporate governance.
Sec. 116. Oversight and audits.
Sec. 118. Funding.
Sec. 119. Judicial review and related matters.
Sec. 121. Special Inspector General for the Troubled Asset Relief Program.
Sec. 125. Congressional Oversight Panel.
Sec. 127. Cooperation with the FBI.
Sec. 129. Disclosures on exercise of loan authority.

============================================

NOTEWORTHY OneUnited has made only one quarterly dividend payment on its TARP funds, because it’s still struggling financially. The bank lost $283,000 in the second quarter and set no money aside for loan losses, even though its nonperforming loans continue to grow.

============================================

NOW HEAR THIS FWANKIE In HR 1424, there are enough rules, regs and CONGRESSIONAL OVERSIGHT REQUIRED that not one Thin Dime should have been 'misspent.'

The $700B TARP Bailout is now being called, "A MASTERFUL DECEIT." Congress' phony outrage is a puzzlement. The fact is you people flagrantly violated the law by throwing tax dollars at this abominable bank....that had connections. You people screwed-over the taxpayers.

Ergo, by extorting tax dollars for OneUnited Bank, Bwaney and Waters can be charged with several felonies.

====================================

FBI TIP PAGE http://tips.fbi.gov/ (you may remain anonymous)

28 posted on 08/13/2010 6:05:42 AM PDT by Liz
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To: Liz

Democrat Culture of Corruption...(and drugs,sodomy,sexual assault and rape).

I WANT MY COUNTRY BACK!!


29 posted on 08/13/2010 6:17:26 AM PDT by penelopesire (FOX NEWS TRIBAL PRINCESS)
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To: Liz; Oldeconomybuyer; CutePuppy; All

Thanks for the ping; post. Thanks to every researcher/educator/linker. OUTSTANDING thread! BTTT!


30 posted on 08/13/2010 7:00:13 AM PDT by PGalt
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To: Liz
Ergo, by extorting tax dollars for OneUnited Bank, Bwaney and Waters can be charged with several felonies.

Thanks, Liz. BTTT!

31 posted on 08/13/2010 7:06:49 AM PDT by PGalt
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To: Liz

Thanks for the post it looks like Cohee and his clan of felons may walk away from the new charge,po old black folk never get a break.No wonder the race card is dead.


32 posted on 08/13/2010 11:13:47 AM PDT by Vaduz
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