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Afghan Murder Suspect Bales 'Took My Life Savings,' Says Retiree
Yahoo/ABC ^

Posted on 03/20/2012 3:53:40 AM PDT by nuconvert

Robert Bales, the staff sergeant accused of massacring Afghan civilians, enlisted in the U.S. Army at the same time he was trying to avoid answering allegations he defrauded an elderly Ohio couple of their life savings in a stock fraud, according to federal documents reviewed by ABC News.

"He robbed me of my life savings," Gary Liebschner of Carroll, Ohio told ABC News.

Financial regulators found that Bales "engaged in fraud, breach of fiduciary duty, churning, unauthorized trading and unsuitable investments," according to a report on Bales filed in 2003. Bales and his associates were ordered to pay Liebschner $1,274,000 in compensatory and punitive damages but have yet to do so, according to Liebschner.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Crime/Corruption; Front Page News; News/Current Events
KEYWORDS: afghanistan; robertbales
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1 posted on 03/20/2012 3:53:48 AM PDT by nuconvert
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To: nuconvert

Wow. Yahoo is at the top of its investigative journalism game. If only they were around when the press was vetting Obama. Wait a minute...


2 posted on 03/20/2012 4:03:01 AM PDT by Pat4ever
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To: Pat4ever

“If only they were around when the press was vetting Obama. “

If only the GOP were around back then. Wait a minute...


3 posted on 03/20/2012 4:05:40 AM PDT by nuconvert ( Khomeini promised change too // Hail, Chairman O)
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To: nuconvert

So how old would Bales have been when this was taking place, If I remeber correctly he’s 32 now.


4 posted on 03/20/2012 4:16:27 AM PDT by Dusty Road
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To: nuconvert

A staff sergeant is involved in million dollar stock deals? really?


5 posted on 03/20/2012 4:17:07 AM PDT by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: driftdiver

Kinda what I thought.


6 posted on 03/20/2012 4:19:35 AM PDT by Dusty Road
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To: driftdiver

Plus he wouldn’t have had that rank at the time.


7 posted on 03/20/2012 4:21:05 AM PDT by Dusty Road
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To: driftdiver

I think he joined after 9/11. This happened prior to that.


8 posted on 03/20/2012 4:26:22 AM PDT by Starstruck
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To: driftdiver

I think this is one of those little things the background investigators might have stumbled across during his security clearance investigation.

I’m not sure I buy this story.


9 posted on 03/20/2012 4:32:14 AM PDT by Never on my watch (I'd rather light a candle than curse the flatulence.)
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To: Dusty Road

If he’s 32 now, then he would have been about 20 according to this story


10 posted on 03/20/2012 4:34:20 AM PDT by nuconvert ( Khomeini promised change too // Hail, Chairman O)
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To: nuconvert

Sgt. Bales, or someone who looks like him, once washed my car for free when I wasn’t around.


11 posted on 03/20/2012 4:34:51 AM PDT by MrBambaLaMamba (This Message Contains Privileged Attorney-Client Communications)
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To: Starstruck

Quick search, not sure if correct case:

In the Matter of MPI
Investment Management, et al., Investment Advisers Act Release No. 1876 (June 12, 2000)

And MPI was bought by GunnAllen Financial, Inc., many of the lawsuits seem to name GunnAllen asopposed to MPI.


12 posted on 03/20/2012 4:36:05 AM PDT by JerseyHighlander
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To: driftdiver; Dusty Road

According to this story, he joined the military after


13 posted on 03/20/2012 4:38:58 AM PDT by nuconvert ( Khomeini promised change too // Hail, Chairman O)
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To: Dusty Road

“If I remeber correctly he’s 32 now.”

I think he’s 38 now, so that would have made him 26 then


14 posted on 03/20/2012 4:41:09 AM PDT by nuconvert ( Khomeini promised change too // Hail, Chairman O)
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To: Dusty Road
So how old would Bales have been when this was taking place, If I remeber correctly he’s 32 now.

He's 38.

15 posted on 03/20/2012 4:42:16 AM PDT by The Citizen Soldier (America needs Gingrich in 2012 about as much as England needed Churchill in 1940!)
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To: Never on my watch

Sounds like he worked for a company that had problems.


16 posted on 03/20/2012 4:42:24 AM PDT by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: driftdiver

Seems also that he had serious problems himself.


17 posted on 03/20/2012 4:47:42 AM PDT by John W (Viva Cristo Rey!)
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To: John W

What was happening with the stock market at that time?


18 posted on 03/20/2012 4:52:27 AM PDT by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: Never on my watch

If he didn’t need a clearance, he wouldn’t have been investigated


19 posted on 03/20/2012 5:10:26 AM PDT by Razwan (Yeah, yeah, I know...Razwan, member since 30 June 2000)
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To: nuconvert

In an article in Cincinnati, residence of Bales, there was additional information.

Bales was a financial advisor in one of the businesses filed against by this couple. In all, there were 7 individuals and businesses in this filing. Bales was a part (employee?) of just one of those businesses.

So, one has to wonder if he isn’t in the same boat as an insurance agent who serviced a client but who actually worked for a larger company. The client would know “him” but not the company.

Now, we also have to ask why this information against this individual is being carried by the media at the time this soldier is charged of something entirely different.

This event happened prior to the soldier even enlisting in the military right after 9/11, so it had to have come out in any security investigation conducted by the military in order to issue a security clearance to a SSG.


20 posted on 03/20/2012 5:22:04 AM PDT by xzins (Retired Army Chaplain and Proud of It! Pray Continued Victory for our Troops Still in Afghan!)
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To: nuconvert
It says Bales and his associates....That changes the story right there.

It's a huge amount so why wasn't it in the news before??

21 posted on 03/20/2012 5:23:11 AM PDT by Sacajaweau
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To: nuconvert

http://www.newsnet5.com/dpp/news/Soldier-who-allegedly-killed-16-Afghans-accused-of-financial-fraud-in-Ohio1332176001033


22 posted on 03/20/2012 5:29:06 AM PDT by Sacajaweau
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To: xzins; Sacajaweau

Mrs. Liebschner said that her husband was ill, so she decided to sell some of their stocks through Bales’ company to pay for medical fees.

She says that’s when Bales started pocketing their money.

Thanx for the link, Sacajaweau


23 posted on 03/20/2012 5:39:55 AM PDT by nuconvert ( Khomeini promised change too // Hail, Chairman O)
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To: Dusty Road

I thought they said he was 38.


24 posted on 03/20/2012 5:42:41 AM PDT by org.whodat
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To: nuconvert; Future Snake Eater; Sacajaweau
In that very same article linked by Sacajaweu is this line buried at the very end:

Seven other individuals and companies are listed in the arbitration and accused of the same charges.

What do you think it means "seven other individuals and companies"?

What do you think if means "accused of the same charges"?

Finally, why is this relevant to Bales' guilt or innocence more than a decade later in Afghanistan?

To me, the only reason this is published is to prejudice readers against this soldier.

The sure didn't publish it when he won his purple hearts, did they?

25 posted on 03/20/2012 5:49:46 AM PDT by xzins (Retired Army Chaplain and Proud of It! Pray Continued Victory for our Troops Still in Afghan!)
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To: nuconvert

These folks sued 7....seven....companies. How strange is that?? Are these folks senile?? Who do they know??


26 posted on 03/20/2012 5:49:52 AM PDT by Sacajaweau
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To: xzins

“Finally, why is this relevant to Bales’ guilt or innocence more than a decade later in Afghanistan?
To me, the only reason this is published is to prejudice readers against this soldier.”

It isn’t relative to his guilt or innocence per se....but all the background info coming out, shows his character.
Of course the media wants to smear him.
It may not be what we want to hear about him, but if it’s the truth, why deny it? Should everyone go on thinking he was just a great guy if he wasn’t?


27 posted on 03/20/2012 6:02:18 AM PDT by nuconvert ( Khomeini promised change too // Hail, Chairman O)
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To: Sacajaweau

Hard to say what the facts are regarding the other people & companies without further investigation


28 posted on 03/20/2012 6:08:36 AM PDT by nuconvert ( Khomeini promised change too // Hail, Chairman O)
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To: nuconvert

I call BS. If this couple were awarded money from arbitration, the broker-dealer would have beenon the hook as well as the brokers. FINRA, SEC, SIPC insurance, E&O insurance all exist for a reason. Bernie Madoff’s portfolios were fiction and his investors are still getting some money back.


29 posted on 03/20/2012 6:17:25 AM PDT by jdsteel (Give me freedom, not more government.)
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To: nuconvert

Well, if this soldier really is a twerp, maybe he did this killing to cause Obama to pull out the troops. You know, to cause such an uproar that the public demands the speedy return of all soldiers. Then Obama could say he had no choice. I pray this was not it, but these days you never know. For someone to go into a village and shoot 16 people, then walk back and turn in his weapon? Sounds suspicious to me. I’m not a conspiracy nut, but we still need to be careful what we take at face value.


30 posted on 03/20/2012 6:19:45 AM PDT by Shery (in APO Land)
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To: nuconvert; Future Snake Eater

Does his saving the skin of his platoon leader speak about his character?

Does his voluteering to be the lead soldier in dozens of dangerous missions speak to his character?

Do purple hearts speak to his character?


31 posted on 03/20/2012 6:25:39 AM PDT by xzins (Retired Army Chaplain and Proud of It! Pray Continued Victory for our Troops Still in Afghan!)
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To: xzins

They all do. But we can’t just ignore the negative stuff.


32 posted on 03/20/2012 6:27:27 AM PDT by nuconvert ( Khomeini promised change too // Hail, Chairman O)
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To: jdsteel

“If this couple were awarded money from arbitration, the broker-dealer would have beenon the hook as well as the brokers. FINRA, SEC, SIPC insurance, E&O insurance all exist for a reason.”

“In 2003, Bales was ordered to pay $637,000 as compensatory damaged, plus interest at the Ohio statutory rate of 10 percent until the date of payment in full, $637,000 as punitive damages, $216,500 as attorney’s fees, $375 to reimburse the Liebschners’ filing fee, and several other small damages.”

The company & other brokers were sued. I think I read somewhere that it had been settled since then, so someone paid up.


33 posted on 03/20/2012 6:31:15 AM PDT by nuconvert ( Khomeini promised change too // Hail, Chairman O)
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To: nuconvert

yes we can. If it is brought up to prejudice an entirely different case it is irrelevant.

Also, I directly showed the quote that said Bales was part of a financial group of individuals and businesses, so the fact that he happened to be their financial advisor is no different than if he’d been their insurance man.

Your State Farm guy is who you know, but that man is NOT State Farm.


34 posted on 03/20/2012 6:31:29 AM PDT by xzins (Retired Army Chaplain and Proud of It! Pray Continued Victory for our Troops Still in Afghan!)
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To: xzins

We have no idea how involved the rest of the company was, or if he was skimming all the $ on his own.
With the details in the arbitration naming him specifically, it sounds like he wasn’t just an innocent broker working for a crooked company, but a combination of a crooked broker working in a crooked company.


35 posted on 03/20/2012 6:37:03 AM PDT by nuconvert ( Khomeini promised change too // Hail, Chairman O)
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To: xzins

Exactly!...Just piling on.....to draw sympathy away.


36 posted on 03/20/2012 6:37:03 AM PDT by Guenevere (....Whom God calls,... He equips......Press On Santorum!)
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To: xzins

Exactly!...Just piling on.....to draw sympathy away.


37 posted on 03/20/2012 6:37:17 AM PDT by Guenevere (....Whom God calls,... He equips......Press On Santorum!)
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To: nuconvert

What I know is that the original actual accusation included 7 other individuals and companies.

I don’t know it was skimming, I don’t know what it was to be honest with you. I do know that many financial firms charged both front end loads, back end loads, and fees.

How did they collect those? I have no idea.

For all we know it was just BAD PRACTICES in the same way as the mortgage industry a decade ago was pushing adjustable rate and interest only loans. Many were sued successfully for bad advice, but that doesn’t mean at the time they thought they were doing anything illegal...and they weren’t.


38 posted on 03/20/2012 6:43:26 AM PDT by xzins (Retired Army Chaplain and Proud of It! Pray Continued Victory for our Troops Still in Afghan!)
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To: nuconvert

Another very implortant point is it goes to his veracity. I strongly suspect he’ll argue temporaty insanity brought about by the interaction of his present stressful situation and a traumatic brain injujry he earlier received caused his actions. In my own family I’ve seen how an old traumatic brain injury can lead to a present psychosis that results in suicide, meaning it could be a very strong defense. If the prosecution can prove Bales was an accomplished grifter who conceived and executed a $1,000,000+ scam, it would cast a huge cloud over his otherwise strong temporary insanity defense.


39 posted on 03/20/2012 7:54:57 AM PDT by libstripper
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To: xzins

Yes and no, Ted Bundy was a nice guy, so they say, and a boy scout. You seem to be the one wanting to decide before the trial. If he killed even one of those kids. Cook him in the chair.


40 posted on 03/20/2012 8:35:55 AM PDT by org.whodat
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To: xzins

This whole business isn’t adding up. Here’s what I’m finding. One report says the retiree, ......... Gary Liebschner of Carroll, Ohio, filed his complaint in May, 2000. At that time Bales supposedly worked for an Ohio brokerage firm, MPI.

According to federal documents, Bales failed to appear at an arbitration hearing to resolve Liebschner’s complaint. In 2003, Bales and his associates were ordered to pay Liebschner $1,274,000 in compensatory and punitive damages. According to Liebschner, that payment never happened because they didn’t know where Bales was.

Okay, another report says Bales “handled investments before a market downturn pushed him out of the business.

Florida records show that Bales was a director at an inactive company called Spartina Investments Inc. in Doral, Fla.; his brother, Mark Bales, and a Mark Edwards were also listed as directors.”

Marc Edwards was a former NFL player that played with the Patriots. He claims the business lasted around a year (2000 to 2001 time frame) and closed due to market forces. He has just released a statement in support of Bales and his character.

So, long story short, who all was found responsible for the 1.4 million owed this retiree? Marc Edwards could easily have been found, if he was also liable for this debt. Are MPI and Spartina Investments two different or the same company? There’s plenty that’s missing here.


41 posted on 03/20/2012 9:05:37 AM PDT by Girlene
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To: org.whodat

You obviously weren’t following the conversation. It was about the storyline regarding a financial accusation from 12 years ago and the comment was that something back thing told us about his character.

My point is simply that lots of things tell us about his character.

And, no, we don’t administer capital punishment for every capital crime.


42 posted on 03/20/2012 9:37:45 AM PDT by xzins (Retired Army Chaplain and Proud of It! Pray Continued Victory for our Troops Still in Afghan!)
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To: Girlene

And if they were incorporated none of them were personally responsible for that debt. It would have been the responsibility of a defunct corporation.

He could have worked for Bain Capital. :>)


43 posted on 03/20/2012 9:43:08 AM PDT by xzins (Retired Army Chaplain and Proud of It! Pray Continued Victory for our Troops Still in Afghan!)
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To: JerseyHighlander

I don’t know anything about the case itself only timelines.I think Bales is 38 which means he was probably in some line of work before he joined.


44 posted on 03/20/2012 9:53:40 AM PDT by Starstruck
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To: nuconvert

The original article made it look like the couple lost all of their money and didn’t get it back. It sounded very fishy to me.


45 posted on 03/20/2012 10:28:03 AM PDT by jdsteel (Give me freedom, not more government.)
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To: Razwan
If he didn’t need a clearance, he wouldn’t have been investigated

I had a "secret" clearance but was never investigated as did several of my buddies. In fact, their judges gave them the choice of jail for their youthful indiscretions or volunteer for the draft. They took the later......Our MOS was 72B, communication center specialists, where we had access to top secret communications passing thru our relay station to other com-centers throughout the Canal Zone

As a side note, I was the E-5 in charge of the center one weekend when a top secret flash msg came thru over a non-secure circuit. I had to secure the teletype tape then call my staff sergeant at home and have him come in as well as the station's CO. This was on a Sunday afternoon. By the end of the following Monday, my clearance had been updated to Top Secret.......

Given the infrequency of the type of message that came thru, and especially the small, irrelevant station on the Atlantic side of the canal that sent it, I suspect it was just a training message that the knuckle heads in that center screwed up by sending it over the wrong circuit.....

46 posted on 03/20/2012 12:39:31 PM PDT by Hot Tabasco (No matter what you post here, someone's going to get pissed off......)
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To: jdsteel
The original article made it look like the couple lost all of their money and didn’t get it back. It sounded very fishy to me.

Then they lied during the television interview too........Why would that old couple do that?

47 posted on 03/20/2012 12:49:32 PM PDT by Hot Tabasco (No matter what you post here, someone's going to get pissed off......)
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To: driftdiver

It was a retail account. The figures could not be that high except that these are both compensatory and punitive damages.

I understand they were trading without authorization and churning.


48 posted on 03/20/2012 12:57:14 PM PDT by BunnySlippers (I LOVE BULL MARKETS . . .)
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To: xzins

Everything counts when assessing character. And there was NO purple heart:

http://seattletimes.nwsource.com/avantgo/2017770505.html


49 posted on 03/20/2012 1:05:12 PM PDT by BunnySlippers (I LOVE BULL MARKETS . . .)
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To: nuconvert

The Liebschners claimed they asked Bales to sell their AT&T stock to pay for medical bills. They said they never got the money and soon after Bales fell off the radar.

http://www.nydailynews.com/news/national/u-s-soldier-accused-gunning-16-afghans-a-man-feds-bilked-elderly-couple-a-million-article-1.1047563?localLinksEnabled=false


50 posted on 03/20/2012 1:14:10 PM PDT by kcvl
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