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Friday, April 6, 2007

FBI Swamped with Bank of New York Violations

FBI Swamped with Bank of New York Violations of Non-Prosecution Agreement

by Frank Brady © 2007
Friday, April 6, 2007

In November of 2005, the Bank of New York in a Non-Prosecution agreement with federal prosecutors was required to pay $38 million to settle various criminal charges. Those crimes involved fraud, money laundering, reporting failures and cover-ups over a ten-year period. And as admitted to by the bank, those criminal acts were committed by Bank of New York executives, officers and employees. During its investigation, federal agents found evidence of $7 billion in underground Russian monies, phony import/export businesses, fraudulent medical equipment leases, elaborate cover-ups, wire fraud and tax evasion. One Long Island Bank of New York branch manager admitted that she improperly executed escrow agreements to assist highly valued customers.

The current allegations include the continuation of the illegal activity by the Bank of New York to improperly assist its highly valued customers, according to informed sources. Those “highly valued customers” include numerous law firms that are on the bank’s approved preferred list who, it is alleged, have been illegally favored by certain courts and specified judges in at least four different counties.

“Most of the malfeasance stems from the Surrogate’s Courts, though various New York State Supreme Courts are also named,” according to one source familiar with the filings and who asked not to be identified. If the allegations are true, those acts would appear to be in violation of the 2005 Non-Prosecution agreement.

When the Bank of New York admitted its criminal conduct and forfeited $26 million to the Federal Government, it also agreed to pay another $12 million in restitution to its victims and to refrain from unlawful activity for three years. The federal government’s press release in November of 2005 noted that, “Should the Bank of New York violate the terms of the agreement, or commit any other crimes, it shall be subject to prosecution, including prosecution for the criminal conduct described in the agreement.”

“I can tell you that top executives at the Bank of New York are frantic over the current allegations that they have violated the Non-Prosecution agreement,” said a New York attorney who requested that he not be identified. “The current inquiries could lead to dozens of indictments, and would surely involve court employees and a few judges. You don’t have to be James Bond to find out what judges are allowing lawyers for the Bank of New York to get away with everything- the question is WHY. Oddly, the Non-Prosecution agreement was meant to bring closure and so they could get back to business as usual. Instead, the agreement brought other long-time and on-going illegalities to light.”

One employee, who asked not to be identified in this article, says that he has provided information showing how “illegal activity by law firms are overlooked by judges who have close ties to those lawyers.” “It’s frightening. I know lawyers in estate cases involving this bank who admit they’ve handed over envelopes full of cash.”

One Manhattan trust and estate attorney says that he has learned to live with “bank-controlled biased courts.” “I flatly refuse to take any contested estate case outside of Manhattan,” he says. “I don’t waste my time going to courts in counties where the Bank of New York owns the court.” He declined to specify about which counties he was referring.


In 2005, United States Attorney Rosylynn R. Mauskopf called the Non-Prosecution agreement with the Bank of New York one of this nation’s largest settlements with a financial institution. “When that trust is knowingly violated at the highest levels of a financial institution, as happened here, fraud and other criminal activities continue unabated, victims suffer staggering losses, and the integrity of our financial systems is seriously undermined. This agreement fixes responsibility for the illegal conduct by bank executives, officers, and employees, secures immediate compensation for victims, and ensures accountability going forward in the exercise of an essential public trust.”

“When the Bank of New York admitted to its criminal activity, I’m sure the U.S. Attorney’s office thought the matter was largely resolved,” says the estate attorney. “But with the onslaught of new complaints against the bank, federal investigators are only now seeing just how deep these frauds go. It’s as simple as the lawyers getting a judge to approve the Bank of New York as a fiduciary, executor, guardian, etc., and then the bank hires that lawyer as its legal counsel in that matter. Lawyers tell everyone that this is the custom to get around any conflicts that are raised.”

“After all that’s happened, the Bank of New York has to be characterized as factually dishonest,” says the veteran estate attorney. And he asks an intriguing question, “How does any Court of Law approve a position of trust- as fiduciary, executor, guardian- to a petitioner like the Bank of New York who has admitted to criminal acts involving fraud, money laundering and cover-ups, and who has paid $38 million to avoid criminal prosecution?”

Good question.

Laughing, the estate attorney asks one last question. “Enough said?”

Hardly.

The FBI will not comment on the current investigation, but has acknowledged that a special unit was created to monitor the Bank of New York and investigate the allegations pertaining to violations of the Non-Prosecution agreement.

Frank Brady © 2007

www.ExposeCorruptCourts.blogspot.com © 2007

57 comments:

Anonymous said...

Excellent story, let's see what the banking regulators do, my guess would be very little.

Anonymous said...

BONY pulls another BONER!

Anonymous said...

This is outrageous --- what happened to the state banking department?

Anonymous said...

They get away with criminal acts, they get a nothing fine, it like the cost of doing business its a JOKE!

Anonymous said...

Something is wrong to allow this type of thing to go on. I do my banking there, after seeing this NO MORE!!!

Anonymous said...

When you read this about the bank as well as how Keltz stole a house with the license of the bank etc., this is right out of Charles Dickens, The Bleak House. Things have not changed they just haven't been exposed.

Anonymous said...

What's the deal here? Is the Surrogate Court money deposited in the Bank of New York? Is that the way this works?

Anonymous said...

Somebody has the right idea follow the money.

Anonymous said...

Who are the favored law firms in this scandal? The Bank of New York must give them work so everyone is fat and happy all the way to the BANK!

Anonymous said...

Absolutely Dickens, with the same cast of characters which no one would believe in this day and age.

Anonymous said...

Who is Fagin, Judge Anthony Scarpino?

Anonymous said...

grave robbers - common thieves

Anonymous said...

don't forget about the Public Administrator and the law firms all buzzing around...they are all in this thing too.

Anonymous said...

The Bank of New York just bought Mellon Bank...the crooks get bigger and bolder.

Anonymous said...

How many of the people that they act as fiduciaries for did they notify of the criminal conduct?

Anonymous said...

Who are all the law firms that they deal with?

Anonymous said...

First they deny, they continue with obstruction and then they sign so-called "Non-Prosecution Agreements" and pay a minor fine and admit to ............ These are all attornys at LAW! It's great! What a racket....

Anonymous said...

If the Bank of NY is doing this what about all the other banks and their lawyers are they pulling the same things?

Anonymous said...

A Scandal and who's doing anything about it.

Anonymous said...

Heap disrespect on all those who desperately deserve it

Anonymous said...

The Surrogate Court is a big trough where the lawyers, banks & judges/courts eat from the estates of the dead.

Anonymous said...

This is an internet portal into what goes on behind the curtains, you don't read this in the papers. Stellar work!

Anonymous said...

believe Mellon Bank also signed a Non-Procescution Agreement on criminal actions, something to do with the IRS.

Anonymous said...

The deal was on the house with the Bank of New York don't forget that.

Anonymous said...

the cover-up is in motion

Anonymous said...

Hello, where is Judge Kaye, Lippman et al.

Anonymous said...

Both Bank of New York & Mellon Bank signed Non-Prosecution agreements for criminal acts - is that correct?

Anonymous said...

any other banks have criminal things?

Anonymous said...

all this is even beyond Charles Dickens

Anonymous said...

If a bank is involved in a criminal matter they are prohibited from acting as a fiduciary due to dishonesty. Most people don't know this.

Anonymous said...

Bankers Trust Company (Deutsche Bank) became an actual felon in SDNY Federal Court at the end of July, 1999, so another bank can be added to the list of banks behaving badly.

Anonymous said...

Since Judge Kaye et al. have passed on this, it is high the federal authorities moved on this.

Anonymous said...

How many Judges hide stolen assests in trusts and partnerships with other Judges?

Anonymous said...

By the way did you know that Judge Tony Scarpino worked at Bankers Trust Company. Wonder how many Banker Trust Company matters he has handled at any time?

Anonymous said...

Sullivan & Cromwell (Legal Harlots Inc.) represents both BONY and Bankers Trust Company/Deutsche Bank if I'm not incorrect... where are they in all this? a fly on the wall.

Anonymous said...

Both BONY, Bankers Trust Co.(Deutsche Bank) and their law firm are dishonest.

The Shadow said...

BONY hired the son of a Surrogate Judge to work in the Trust Dept. when they had a contested case before the same Surrogate Judge involving the Estate of deceased Sullivan & Cromwell partner. Follow the bouncing ball folks, that's the way it works - The Shadow knows

Anonymous said...

THE BANKS BUY EVERYONE! So now we understand why nothing changes and the blantant corruption continues.

The Shadow said...

NOW HEAR THIS - The Bank of New York has more than one NON-PROSECUTION AGREEMENT and in my opinion are in violation of all of them! So what is being done about it - NOTHING!!! WHY???

Anonymous said...

When you read this and then the Jody Keltz piece also involving the Bank of New York you just want to puke all over these people

Anonymous said...

That's the way I feel also, maybe if we all did it these folks would get a message.

Anonymous said...

all these stories leave one clear impression - "The Inmates Are Running the Asylum"

Anonymous said...

The best disinfectant is sun light!

Anonymous said...

Does anyone know exactly how many so-called Non-Prosecution Agreements or Agreements of this kind the Bank of New York has signed with anyone?

Anonymous said...

The Bank of New York is waiting for the fire to go out and has many friends

Anonymous said...

THE BANK OF NEW YORK IS A CRIMINAL!

Anonymous said...

for the deal they pulled with the Surrogate's Court and Jody Keltz they should all be locked up

Anonymous said...

the answer to this tawdry tale is -there continues to be NO OVERSIGHT by the responsible parties!

Anonymous said...

Another example of the STENCH FROM THE BENCH!

Banker Be 'Ware said...

People are crazy to let this bank handle their money, trusts or estates. And they shouldn't be able to bet away with simply changing their name!!! The same characters that run the bank now, and that have pulled another trick by changing the name of the bank, are the same hoods who committed the crimes.

Anonymous said...

how many trusts and estates does the Bank of New York have in Westchester?

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Anonymous said...

I liked it. So much useful material. I read with great interest.

Anonymous said...

The corruption is pervasive.Being connected to this crime.org.Is required for employment.
Suffolk County Surrogates Court.Hon.Gary Weber..a family member.Acquired commercial properties located in both Westhampton & Bridgehampton.Robbing the deceased.Same time frame. 1988/90s. Let's hope that the Spirits of these people he robbed under color of law.Come back to haunt these properties.
They don't care.An indicator of a true Sociopath. Frightening is an under statement.

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