Anonymous ID: 4248ae Nov. 25, 2024, 5:39 p.m. No.22057302   🗄️.is 🔗kun   >>7663 >>7750 >>7925 >>8105 >>8139

Former Cleveland City Council Member Charged with Bribery and Fraud

 

CLEVELAND – Basheer Jones, 40, of Cleveland, Ohio, has been charged in a two-count information with conspiring to commit wire fraud and honest services fraud for using his role as a public official for personal financial gain by seeking to defraud multiple community stakeholders out of more than $200,000. He previously served as an elected Cleveland city council member representing Ward 7.

 

According to court documents, from about December 2018 to June 2021, Jones allegedly misrepresented and concealed material facts to induce nonprofit organizations to enter into a variety of arrangements that would benefit Jones and his romantic partner co-conspirator. Under the guise of working on projects to benefit the city of Cleveland and revitalize Ward 7, Jones fraudulently sought and obtained funds from local nonprofits while he concealed his connection to his romantic partner, through whom he benefited from these arrangements.

 

Jones’s schemes were devised to deceive nonprofit entities into making payments toward projects they thought were for the community’s benefit. Instead, the money ultimately went into bank accounts controlled by Jones’s romantic partner. Jones would then direct her to divert those funds to herself, Jones, and to other associates who were involved.

 

The information alleges that Jones deceptively advised nonprofits to provide funding to move community projects forward or to hire a purported “consultant,” with the full knowledge that the funds would flow back to himself. For example, Jones recommended that a nonprofit hire a consultant for community outreach. Unbeknownst to the nonprofit, the “consultant” who quickly submitted a proposal and whose business was ultimately contracted, was Jones’s co-conspirator and romantic partner. She submitted the proposal and requested $5,000 per month at Jones’s prompting. The investigation discovered that she did not provide the nonprofit with substantial services in exchange for payments she received.

 

Jones later defrauded the same nonprofit out of an additional $50,000, again through his romantic partner’s consulting business. Jones claimed that he needed $50,000 to plan a community event, which included buying backpacks for schoolchildren, and falsely promised that the city would reimburse the organization. Instead, after the funds were paid, no event was held, and Jones directed his romantic partner to divide the money amongst herself, Jones, and others associated with the scheme.

 

Some of the projects Jones pushed included seeking community funding to rehabilitate certain distressed properties while concealing his financial interest in them. In one instance, Jones devised a bribery scheme under which he arranged for co-conspirators, including his romantic partner, to acquire a dilapidated property on Superior Road, and used his position as councilperson to pass ordinances allocating city funds to buy that property from them. Jones arranged for a co-conspirator to buy the property a minimal cost. After asking a nonprofit to purchase and rehabilitate the property, and promising city funding, Jones sponsored an emergency ordinance to fund the nonprofit’s purchase and renovation of the property. When Jones was unable to convince the nonprofit to proceed, he arranged to transfer the property to his romantic partner’s consulting business, with the understanding that she too would share the proceeds of the sale with him. After sponsoring another ordinance to reauthorize city funding for the same project, Jones sought to finalize the nonprofit’s purchase of the property from his partner’s entity for $80,000. Ultimately the scheme failed when the nonprofit decided not to proceed with the purchase.

 

https://www.justice.gov/usao-ndoh/pr/former-cleveland-city-council-member-charged-bribery-and-fraud

Anonymous ID: 4248ae Nov. 25, 2024, 5:40 p.m. No.22057307   🗄️.is 🔗kun   >>7524 >>7663 >>7750 >>7925 >>8105 >>8139

Former Chief Investment Officer Of Global Bond Investment Firm Charged With Over $600 Million Investment Adviser Fraud

 

Ken Leech, Former Chief Investment Officer of Western Asset Management, Charged With Fraudulent Scheme to Favor Certain Clients at the Expense of Others

Damian Williams, the United States Attorney for the Southern District of New York, and James E. Dennehy, the Assistant Director in Charge of the New York Field Office of the Federal Bureau of Investigation (“FBI”), announced today the unsealing of an Indictment charging S. KENNETH LEECH II, the former Chief Investment Officer of Western Asset Management Company (“WAMCO”), with securities fraud, investment adviser fraud, commodity trading adviser fraud, commodities fraud, and making false statements. WAMCO is a global fixed-income investment adviser that manages hundreds of billions of dollars on behalf of its clients. Between 2021 and 2023, LEECH defrauded WAMCO’s clients by engaging in a criminal cherry-picking scheme to favor certain clients at the expense of others, assigning over $600 million of gains to favored clients and over $600 million of losses to disfavored clients. LEECH has been summoned to make his initial appearance in the Southern District of New York in connection with the charges by December 6, 2024. The case has been assigned to U.S. District Judge Gregory H. Woods.

 

U.S. Attorney Damian Williams said: “We allege today that S. Kenneth Leech II—the Chief Investment Officer of a significant manager of pension funds and other long-term investments—used his position to cherry pick trades and prop up his favored but failing accounts at the expense of others. These charges should be a reminder that this Office continues to police all corners of the financial markets and will swiftly hold those accountable who believe that they can cheat and abuse the trust of clients for their own purposes.”

 

FBI Assistant Director in Charge James E. Dennehy said: “Kenneth Leech, the former CIO of Western Asset Management Company, allegedly violated his fiduciary duty by crafting a preferential treatment scheme to allot more than $600 million in profits and losses to particular clients. Instead of allocating trades appropriately, Leech allegedly allowed favoritism to benefit preferred accounts for their benefit. The FBI will continue to investigate any individual who exploits their trusted position to favorably treat certain clients at the expense of others."

 

According to the allegations in the Indictment unsealed today in Manhattan federal court:[1]

 

Between 2021 and October 2023, LEECH committed fraud and abused the trust placed in him by clients of the investment-management company WAMCO. LEECH engaged in a criminal scheme commonly known as “cherry picking” to compensate for losses in his marquee investment strategy by assigning trades that performed well during their first day into client accounts associated with that investment strategy, and assigning trades that performed poorly over their first day into the accounts of other clients, who were not aware that LEECH was causing them losses to favor others. LEECH’s victims included institutional and retail investors who trusted LEECH to manage their savings and pension plans. Over the course of his criminal scheme, LEECH allocated trades with net first-day gains of at least approximately $600 million to his favored strategy and clients, and allocated trades with net first-day losses of at least approximately $600 million to clients to whom he owed an equal fiduciary duty.

 

LEECH was able to carry out this scheme because, as Chief Investment Officer of WAMCO, LEECH was responsible for making trades on behalf of different portfolios and assigning those trades to the portfolio for which he had traded—a process generally referred to as “allocation.” One set of portfolios for which LEECH traded followed what WAMCO called the “Macro Opportunities” strategy (“Macro Opps”). Another set of portfolios followed what WAMCO called the “Core” and “Core Plus” strategies (together, the “Core Strategies”). LEECH owed a fiduciary duty to any client who invested in portfolios that followed either of these strategies.

 

https://www.justice.gov/usao-sdny/pr/former-chief-investment-officer-global-bond-investment-firm-charged-over-600-million

Anonymous ID: 4248ae Nov. 25, 2024, 5:41 p.m. No.22057309   🗄️.is 🔗kun   >>7663 >>7750 >>7925 >>8105 >>8139

Multi-Jurisdictional Law Enforcement Collaborative Dismantles Four Criminal Organizations Operating Throughout Southwestern Baltimore

 

Operation Tornado Alley, a GVRS Investigation Leads to Largest Takedown in Baltimore in Decades

Baltimore, Maryland – Today, the U.S. Attorney’s Office for the District of Maryland joined the Office of the State’s Attorney for Baltimore City (SAO) — and its Major Investigations Unit — the Mayor’s Office, Baltimore Police Department (BPD), U.S. Drug Enforcement Administration (DEA), and Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) to share details about the largest takedown in Baltimore in decades.

 

This investigation uncovered four separately operated criminal organizations whose primary enterprise was trafficking narcotics. Ivan Roman and Andre Berry are facing federal charges for firearm-related offenses and possession with the intent to distribute narcotics. The SAO announced charges against 40 individuals for drug trafficking and firearm offenses that occurred throughout southwest Baltimore City. This takedown is part of the City’s Group Violence Reduction Strategy (GVRS). Ongoing violence in these areas was the catalyst for the investigation. While examining violent feuds in these regions, law enforcement uncovered the existence of at least four separate criminal organizations that engaged in the daily street-level distribution of narcotics.

 

During the course of the nearly year-long investigation, law enforcement employed various investigative methods. This included executing search-and-seizure warrants and recovering approximately 65 firearms of varying calibers, including ghost guns and firearms equipped with rapid-fire trigger activators, which allow the firearms to operate as fully automatic weapons. Additionally, law enforcement recovered body armor, approximately 7.25 kilograms of suspected cocaine, approximately three kilograms of suspected heroin/fentanyl mixture, approximately 110 pounds of suspected cannabis, approximately $373,275.50 — believed to be proceeds from the sale of narcotics — and 15 stolen automobiles.

 

“Operation Tornado Alley comes on the heels of our newly executed Baltimore Organized Crime Drug Enforcement Task Force (OCDETF) Strike Force memorandum of understanding between the Maryland U.S. Attorney’s Office and our federal, state, and local law enforcement partners,” said U.S. Attorney Erek L. Barron. “This operation proves that we’ve taken the Strike Force to the next level in combating violent crime in the Baltimore region. Violent offenders better beware, we are a force-multiplier for the work of our state and local partners on the ground.”

 

These four criminal organizations conducted criminal activity in the surrounding areas of the 1700 block of Lemmon Street, 2000 block of W. Pratt Street, 500 block of Millington Avenue, and 2800 block of Edmondson Avenue. The SAO has secured 38 state indictments with 35 defendants, involving four conspiracies.

 

https://www.justice.gov/usao-md/pr/multi-jurisdictional-law-enforcement-collaborative-dismantles-four-criminal

Anonymous ID: 4248ae Nov. 25, 2024, 6:07 p.m. No.22057409   🗄️.is 🔗kun   >>7415 >>7750 >>7925 >>8105 >>8139

“I PROBABLY SHOULDN’T BE SAYING THIS OUT LOUD;”

@NIH

Chief Confesses COVID Health Initiatives Were "COMPLETELY MADE UP”

 

"I don’t even know if these vaccines stop you from getting COVID. They don’t.” Adds, "We're all going to learn [about vaccine safety] when it's too late," as Pfizer & Moderna "are just getting a bunch of money… Vaccines were accelerated through the approval.”

 

‘We fly under the radar of being scrutinized…I don't think I have too much to worry about.’

 

Trump victory “worse for the NIH.”

 

“It would be better for a Democrat to be in office.”

@pfizer

 

@moderna_tx

 

@RobertKennedyJr

 

@RenateMyles

 

@DrJBhattacharya

 

https://twitter.com/i/status/1861190563338559758