jennie pakula's request: sub 2.1 foreign bribery inquiry

8/17/2019 Jennie Pakula's request: Sub 2.1 Foreign Bribery Inquiry

1/7

Dear Senators,

Submission to the Senate Inquiry

chaired by Senator Sam Dastyari

into

Foreign Bribery/Corruption

This E ~ l ; m.1d0

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We enclose our law colleagues' Minutes

..

from 1930, the age of gangsters, tommy guns and

stock market crashes - some of our people have seen a lot.

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age

Foreign briberySubmission 2 - Supplementary Submission


2/7

Tor B Suppression Orders:

The RBA documents in the Note bribery case had to go to real overseas law enforcement and

intel people under one proviso

in

Justice Hollingwo1ih ' s gag order (that was lifted a year later ,

last week). Who's protecting who? (Incidentally you should look at power companies basically

owned by relatives of

foreign politicians and ask whether faux management fees are siphoned

off

the top: are power company customers paying the consequences, and was the Royal Commission

into bushfires run by lawyers rather than accountants?

We

think the accountants are better

·nves iga ors, we support

fil

e RiCU 3

e enclose the Telstra-FBI agreement for i r e taps.

n

ew of the illion comments ins

accountin · laws call ·

n Sia

elped vo

in

the fl i-graft Independ

'red

of

e corporate greed and graft

I

T h i s i s ra c k e tee r ing a t its f i nes t a n d F O S i s comp l i c i t i n t h i s . .A de f in i t ion :

R a c

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is

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l e m

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such

as s e t s . Sec t ion

1957 pro

h i b i t s the

mone ta ry t r an s ac t i o n with p r o p e r t y

known

t o be the proceeds o f

un iawfu l a c t i v i t y wi th a va lue g r ea t e r than

10,000,

i.e. t he

proceeds o f

{ i ) a fore ign o f fense involv ing the

misappropr i a t ion ,

t h e f t ,

or

r r i ~ z z l m n t

o f

publ i c

funds

by

o r

f o r the b e n e f i t o f a p u b l i c o f f i c i a l ; i i ) a

fore ign of f ense

involv ing b r i b e r y

o f a publ i c

o f f i c i a l ; i i i ) t r anspo rtati

on of

s t o l en

or f raudulen t ly obta ined money (18 U.S .C. § 2314);

o r

( iv)

rece ip t o f s to l en

money (18

U.S.C. § 2315) . ee 18 U.S.C.

21 § § 1956

(c)

(7) B) iv ) , and 1956

(c)

(7) A)

incorpora t ing

by

22

re fe rence of fenses enLunerated in

18 U.S.C. §

1961 1) ) .

I Page



4/7

A Modest

Proposal:

Prosecute JPMorgan Under RICO

http://bankvictims

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m a u/

bank

sters/ item/ I l 9 0 ~ a m o d e s t p r o p o ...

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A Modest Proposal: Prosecute JPMorgan Under RICO

A Modest Proposal: Prosecute

JPMorgar Under RI O

2. December

4

D

OG

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rcn:

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ad 499 times

President Obama and Attorney General Eric Holder continue to

be conscientious objectors

in

the war against banksters. The

/07/201 5 2:57 AM



5/7

A Modes t Proposa l: Prosecute JPMorgan Unde r RICO

htt p:// bankvic tim s.eom.au/banksters/ item/ l l 590 a modest proposa ..

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of7

big

bank

bandits who steal

bi

ions fr

om

thei r customers

get

off

scott

free

because they sha

re

thei

rwea

lth

with t

he

people in

ashington

In

a compel ling cail to action ; Helen Davis Chaitman and Lance

Gotthoffer, authors of the riveting book

JP

Madoff:

The

Unholy

Alliance Between America's Biggest Bank and

Am

erica's Biggest

Crook, published on their

webs

ite jgmadoff.com , ask a fascinat ing

question: When big banks commit fraud , why not prosecnte their

officers under RiCO--ihe Racketeering In fluenced Corrupt

Organization \ c t ~ wh1cn provides for

d1s

gmgement of pmfits and

long pr ison sentences for the offe

ders?

Working from the thesis of the late Senator Robert F Kennedy that

citizens get the quality of law enforcement they demand, the authors

make a.

compelling case that nothing wou ld have a greater impact on

~ l e n i n g up Wall Street than prosecuting undeFRiC O t·he senior

officers

of

a financial institution that routinely flouts the law

=

JPMorgan

Chase

The proposal is neither theoretical nor

Quixotic except

to the extent

the current administration seerns

unw

illing to pursue big bank bandits

for anything more than their shareholders' dollars Though enacted to

battle organized crime, the statute includes arnong its predicate

racketeering acts decidedly Wall Street kinds of crime like securities

fraud, wire fraud , mail fraud, br ibery, etc. And at its core, the authors'

proposal hinges on another question so irrefutable in its logic that,

with anyone but the Obama/Holder administratlon . it wo uld seem to

be tautological. When bankers act like g;;mgsters,

why do

n't

we

treat

them like gangsters? aufhors explaiAed in Chapter 4 of thei r

book, the similarities between JP Morgan Chase 's operations and

those of the

Gambino

Crime Family are more striking than the

':lifferences.

And the authors' proposal really isn ;t

ra

dical. Why shouldn't criminal

bankers be put

in

jail? As Chaitman and Gotthoffer point out, 25

years ago the federal

government

prosecuted junk-bond king Michael

Milken and his firm, Drexel Burnham Lambert , under RICO. Milken

made

a deal

wiU1

the

government

and served a reduced prison

sentence in return for giving the

government

evidence on other

criminals at Drexel. Isn't the epidemic of criminality on Wall Street

due

to the fact that the

government

has adopted a hands-off policy?

Chaitrnan and (3otthoffer use the abysma l recent history

of

JP

7 /07/2 5 2:57 AM



6/7

A Mo dest Proposal: Prosecute JPMorga n Under RICO http :// bankvic tim

s.eom.a

u/banksters/ item/ l 1590 a modest proposa

3

of7

Morgan h a s e ~ w h i c h as the ';Wheel

of

Misfortune" on their website

confirms, has paid out $29 billion to various governmental agencies

and customers since 2009 on claims that the Bank acted illegally.

Check out the Wheel of Misfortune and you will see why a RICO

prosecution makes sense. The authors gathered an impressive array

of facts from the public record about JP Morgan Chase's al eged

(and,

in

many instance

s

admitted) violations

of

law and have shown

exactly

how

the pattern

of

illegal activity

faHs

squarely within the

RICO statute. Just this month, the Senate issued a report concerning

its investigation of bank control over the physicial commodities

market

in

which it quoted representatives

of

the Federal Energy

Regulatory Commission that they had ''never before witnessed the

degree

ot

blatant rule manipulation and gaming strategies" that

JPMorgan utiiized in the electricity market. Can anyone think of a

legitimate reason

why

bankers

who

commit crimes should not be

imprisoned for those crimes?

Unlike the present adm inistration that protects the identity

of

banksters, Chaitman and Gotthoffer name names. In fact , they have

served up al the ingredients of a

F ~ I O

prosecution on a silver

platter. he one thing left to be

done

is for the prosecutors to do their

job

. The specific criminal episodes they dissect are fascinating too .

There is. of course. the recent bombshell launched by former JP

Morgan Chase

in

-house lawyer, Alayne Fleischmann. on how

JPMorgan Chase routinely lied about the toxic nature of the

mortgages they were selling and how her complaints about this to

managing directors were ignored; and how, if her statements are

true, at least one of these officers lied to fed eral regulators about it

in

violation,

at

least,

of

18 USC

1001.

There is also the 20+ year relationship

of

the Bank with Bernard

Madoff. which

tt1e

authors have so ably covered

in

prior chapters,

where the poten

ti

al "predicate act" crimes are infinite

in

their

possibiiities. And the authors descr ibe two current criminal

investigations of JPMorgan Chase: one for alleged bribery of high

eve l Chinese government officials ( including the former Prime

Minister)

in

return for getting business

in

China a classic violation

of the Foreign Corrupt Practices Act; and the other, JPMorgan

Chase's admitted involvement

n

a scheme with other major U.S. and

European banks to fix foreign currency exchange rates. There isn't

too much dispute about what happened here. JPMorgan Chase has

already paid regulators penalties

of

over

$350 million and it is still

under investigation by the Department

of

Justice, so this would seem

to be the ideal time for the government to protect the public by putting

17 /07/201 5 2:57 AM



7/7

jennie pakula's request: sub 2.1 foreign bribery inquiry

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