Och-Ziff Company and subsidiaries implicated in bribing Guinean, Zimbabwean and Congolese Authorities to get favourable business operations in these nations, Raid January 2017 report claims!

guinea-mining

“The Home Secretary, Amber Rudd, at the FCA’s 2016 Financial Crime Conference, stated:15 ‘The UK is attractive to criminals and corrupt kleptocrats who steal billions from their own people, often some of the poorest people in the world.’ The Home Secretary concluded: ‘If…we develop world leading legislation to combat financial crime whilst continuing to develop the capabilities of our law enforcement agencies, then we will reduce the flow of dirty money into the City….’” (RAID, P: 14, 2017).

Well, this is not the first or the last time we will discuss mineral-resources and the extractions of these to gain quick profits, either in sophisticated ways of administrative affairs between the ones the licence the operations to the company, which usually is government officials who are pocketed by subsidiaries if multi-national corporations; this is happening in the Democratic Republic of Congo, Zimbabwe and Guinea. As showed in the RAID report of January 2017: “Bribery in its purest form”; that I will uncover certain parts of to show the apparent companies and holding-companies that are owning and operating in the these countries by bribing officials to export minerals. They get ownership of giant mines and resources from these nations as they are licenced after favourable transactions for the governments, as they are kept bribed to uphold production as well.

This happening in nations that are sanctioned and has sanctioned persons that should stop these transactions and licences of United Kingdom and United States corporations, even if they have shell-companies and official headquarters in Tax-Havens that proves the ability of extracting the massive fortunes in these minerals, without proper transparency in the nation they operate with their mining operation.

I think the report should speak for itself and should be publically known to show how they are able to take the monies, profit and also bribing the officials without any consequences, even when the nations of Zimbabwe and DRC had sanctions against it; still the His Majesty Treasury of United Kingdom didn’t stop the transactions and trade with them. This proves that the UK Government doesn’t care about their own sanctions and how their businesses are operating without judgement and fear of getting fined for breaking laws to get rights and takeover mining operations in other countries.

Take a look! 

The review of mining licences that the Congolese government embarked on in 2007, which was supposed to clear up the murky legacy of wartime contracts, provided Och-Ziff and its collaborators with a golden opportunity to snap up valuable assets at knock-down prices. Working with the Congolese political elite, this group were able to exploit the threat of expropriation or revocation of mining permits to their own advantage. By 2014, according to Forbes Magazine, President Joseph Kabila had amassed an estimated personal fortune of US$15 billion in just over 13 years of power.xxiv In 2015, The Sunday Times Rich List estimated Michael Cohen’s wealth to be £335 million (US$500 million). Forbes puts Daniel Och’s (the founder and CEO of Och-Ziff) net worth at US$2.5 billion and Dan Gertler’s wealth at $1.18 billion. The DRC is one of the poorest and least developed nations in the world, ranked 176 out of 188 countries.xxv Almost 87% of its 69 million people live on less than $1.25 a day. Put another way, that $1.25 each day equates to $450 per year, and with life expectancy of 58 years, Och’s personal fortune would last the lifetimes of more than 95,000 Congolese at today’s values” (Raid, P: 10, 2017).

Och-Ziff subsidiaries:

“Mvela Holdings is incorporated in South Africa.31 Mvela Holdings is described in the Och-Ziff release as ‘a private investment company founded in 1998 by Tokyo Sexwale, Mikki Xayiya and Mark Willcox. It is the controlling shareholder of JSE-listed Mvelaphanda Group Ltd and has a significant interest in JSE-listed Mvelaphanda Resources Ltd. It has other substantial privately held interests in the mining, energy, real estate and various other industrial sectors in South Africa and Africa.’ It appears that Mvela did not ultimately participate directly in AML” (…) “Palladino Holdings is described as a private investment vehicle, founded in 2003 by Walter Hennig holding ‘a variety of significant mining, energy and other assets in Africa.’32 A company under the name Palladino Holdings Limited is registered in the UK, and recorded as originating in the Turks & Caicos Islands.33 Other market notifications that refer to Palladino Holdings Limited as a shareholder give an address for Palladino in the Turks & Caicos Islands.34 Palladino Capital 2 Limited, a closely-related Palladino subsidiary behind a controversial loan to the Guinea government (see below), is registered in the British Virgin Islands” (…) “Other than Och-Ziff employees, directors of Africa Management (UK) Limited include or have included, Walter Hennig (Palladino), Andre Cilliers (Palladino) and its chief executive Mark Willcox (also Chief Executive Officer of Mvela Holdings)” (Raid, P: 17, 2017).

Guinea agreement:

“Och-Ziff Employee A and Och-Ziff Employee B, along with the CEO of AML and South African Business Partner, conceived of a related-party transaction that would accomplish these goals….According to the deal documents, South African Business Partner was to buy 31.5 million shares in the oil and gas company from the South African conglomerate for $77 million and then immediately resell 18.5 million of those shares to AGC II for $77 million.…” (…) “Contrary to the deal documents…Och-Ziff Employee A and Och-Ziff Employee B knew that South African Business Partner would not pay the full $77 million to the South African conglomerate. South African Business Partner bought 31.5 million shares…for only $25 million, and then immediately resold 18.5 million shares in that same company to AGC II for $77 million, providing South African Business Partner with $52 million and an additional 13 million shares in the company. With the $52 million, South African Business Partner then paid $2.1 million to Och-Ziff to satisfy an outstanding debt relating to AGC I (in which the Investor had no interest), $25 million to the government of Guinea to try to secure access to valuable mining investments there, $1 million to the agent affiliated with the a high level Guinean government official and his family, and the remainder to personally benefit himself and his business partners” (RAID, P: 19, 2017).

Guinea 2011:

“In or about March 2011, a company controlled by Coconspirator #1 [‘the beneficial owner of the Turks & Caicos Entity’ ] entered into an agreement with the Guinean government, which gave the company the option to buy into the SOMC [‘Guinean state-owned mining company’]. On or about April 29, 2011, an affiliate of the Turks & Caicos Entity loaned the government of Guinea $25 million as part of a deal to become a partner in the SOMC. Coconspirator #1 raised the $25 million through a related-party stock sale to the Joint Venture. MEBIAME signed the loan document on behalf of the affiliate of the Turks & Caicos Entity. According to MEBJAME, the partnership with the SOMC ultimately did not go forward due to negative press accounts, which indicated that the deal between the Guinean government and Coconspirator #1 was corrupt” (…) “He [Alpha Condé] said that he agreed. So we made the loan, we signed the loan to Soguipami…,and so I was authorised to sign and make the transfer.’ Another exhibit – a witness statement, from a UK High Court case, made by the chief executive of a company advising BSGR – states:67 ‘funds were transferred to Alpha Condé by way of a recorded loan of $25million and further unrecorded transfers believed to be “much much more”….Alpha Condé attempted to reward his backers. He entered into an agreement known as the Palladino Contract, pursuant to which the provider of the $25million loan would, on default of the loan, become entitled to a 30% share in a new Guinean national mining company established by Alpha Condé.’ Other exhibits in the ICSID case refer to Walter Hennig and AGC” (RAID, P: 20, 2017).

DRC laundering of mining exports:

“Gertler’s use of London markets to launder DRC assets began with another AIM-traded entity, Nikanor plc. Nikanor plc was described as ‘the holding company of a Group with copper and cobalt assets in the DRC’. The company was incorporated and headquartered in the Isle of Man.87 On 17 July 2007, Nikanor was admitted to AIM” (…) “In the Nikanor admission document, reference is made to allegations that Dan Gertler ‘acquired a temporary monopoly on sales of diamonds from the DRC as a result of improper dealings with the Government of the DRC’.88 The Nikanor admission document concludes that: ‘These allegations do not relate to the Company [Nikanor], the Group or any of their activities. They concern Mr Gertler in his capacity as a shareholder.’ Yet it is stated under ‘risk factors’ in the admission document: ‘…each of the Major Shareholders will be able to exercise significant influence over all matters requiring shareholder approval, including the election of Directors and significant corporate transactions.’ Moreover, there is also a reference to how the group of Nikanor companies with mining assets in the DRC and ‘some of the Major Shareholders’ have been ‘subject to criticism from a number of NGOs’ which included lack of transparency in the process by which the assets were awarded, the absence of public tendering and a joint venture agreement ‘unreasonably favourable to the Group and that as a result Gécamines [the DRC’s state-owned mining company] has not received proper consideration for valuable assets with a resulting detrimental effect on the economy of the DRC”(RAID, P: 22 ,2017).

Another DRC Agreement – Camrose transaction:

“The DOJ refers to ‘a $124 million convertible loan through a subsidiary company and AGC to Company B, a DRC Partner-controlled shell entity, funded in or about and between April and October 2008 (the “Convertible Loan Agreement”)’.121 Under the heading ‘C. Corrupt Takeover of DRC Mining Company’” (…) “the SEC Order states: Also in April 2008, Och-Ziff caused AGC I to enter into an approximately $124 million convertible loan with a holding company affiliated with DRC Partner. The stated uses of these funds were threefold: first, to provide DRC Partner with approximately $15 million to purchase a Congolese entity that had acquired the rights to a valuable mining asset in the DRC (the longstanding asset of a Canadian mining company) through an ex parte default judgment in the DRC that resulted in judicial misconduct proceedings; second, to provide DRC Partner with approximately $100 million to purchase a majority stake in that Canadian mining company in exchange for resolving its legal issues; and third, to advance an additional $9 million to be used for future mining operations in the DRC” (RAID, P: 26, 2017). “The transaction gave Och-Ziff control over what assets could be bought or sold by the entity, equity conversion rights into DRC Partner’s entity, a pledged interest in the shares of the Congolese entity, and a right to future deals with DRC Partner in the DRC. Moreover, the transaction gave DRC Partner complete discretion over how to use approximately $24 million of the funds provided by Och-Ziff. Further, Och-Ziff understood this transaction was part of a broader, ongoing partnership with DRC Partner. Finally, both Och-Ziff Employee A and Och-Ziff Employee B knew that DRC Partner was going to use a portion of the funds to pay bribes, and knew that the transaction was structured to accomplish that goal. This knowledge was not shared with others within Och-Ziff or with outside counsel” (RAID, P: 27, 2017).

drc-business

Camrose II:

“A 50% interest in Société Minière de Kabolela et Kipese Sprl (‘SMKK’) was acquired on 9 November 2009 as part of the CAMEC acquisition….In 2009 the Group acquired an option, for a cash consideration of US$25 million, to purchase the outstanding 50% of the issued share capital of SMKK by acquiring the entire issued share capital of Emerald Star Enterprises Limited (‘ESEL’), (an entity controlled by the Gertler family trust), the owner of the outstanding 50% of SMKK. The Group exercised this option and the acquisition of ESEL was effectively completed and control obtained by the Group in June 2010. The total cash consideration in respect of the outstanding SMKK shares, inclusive of the US$25 million option, amounted to US$75 million” (…) “Throughout the period of DRC Partner’s acquisition of Kolwezi Tailings and SMKK, DRC Partner continued to make corrupt payments to DRC Official 2. For example, on or about December 23, 2009, DRC Partner delivered $1 million to DRC Official 2; on or about January 5, 2010, DRC Partner delivered $2 million to DRC Official 2” (…) “On or about August 20, 2010, Mining Company 1 acquired 50.5 percent of Company B. Mining Company I agreed to pay up to $575 million over two years, including $50 million in cash. Och-Ziff Employee 3 and Och-Ziff Employee 5 were informed by a co-conspirator that the $50 million was for DRC Partner to “use on the ground” to corruptly acquire Kolwezi Tailings. As part of the deal, Mining Company 1 guaranteed repayment of the Convertible Loan Agreement through a novation of the loan” (RAID, P: 30-31, 2017).

Camrose Resources Limited, BVI company number: 1055983, incorporated in the British Virgin Islands on 9 October 2006. “ (…) ”124 According to the company website: ‘The Fleurette Group is comprised of various businesses organized under Fleurette Properties Ltd., a company established in 2006 for the benefit of the Gertler Family Trust.’ (<http://fleurettegroup.com/&gt;). A press release attributed to Fleurette Properties Limited states: ‘The Fleurette Group of Companies is a Dutch-resident group of companies whose primary activities are the investment in, exploration, exploitation and development of mining assets in Africa. The parent company of the group is called Fleurette Properties Limited, which is owned by Line Trust Corporation Limited strictly and solely on behalf of the Ashdale Settlement, a trust established in 2006 for the benefit of the family of Dan Gertler.’” (RAID, P: 58, 2017).

“Camrose is described as holding indirect interests in five copper and cobalt exploitation licences in DRC, including a 70% interest, via the Highwind Group, in Metalkol Sarl, which ENRC states as owning ‘the tailings exploitation licence covering the Kolwezi Tailings Site (otherwise known as the Kingamyambo Musonoi Tailings, or “KMT”) (PER 652)’. See ENRC plc, ‘Acquisition of 50.5% of the Shares of Camrose Resources Limited’, op. cit” (RAID, P: 59, 2017).

UK gives Concent to Camrose transaction:

“Consent for the Camrose transaction was therefore sought from the UK authorities, consent that was clearly forthcoming. ENRC sought to prevent publication of media reports relating to the SAR: 101Reporters has published not only the SAR, but also the letter it received from ENRC’s lawyers, which stated: ‘you will respect the public interest in maintaining the confidentiality in SARs and remove that aspect from your article.’” (RAID, P: 33, 2017). “There is a permissive pathway by which mines and minerals from zones of conflict and weak governance are transferred to companies trading on AIM who, in turn, through a process of acquisition, transfer these tainted assets to companies in the premium segment of the main market. This process can only be described as asset laundering. Certain of ENRC’s Congolese and Zimbabwean assets, at the heart of the SFO criminal investigation, were derived from the acquisition of AIM-traded Central African Mining and Exploration Company Limited (CAMEC), which was allowed to flourish unchecked on the junior market, despite a myriad of compliance issues that have never been addressed by AIM Regulation” (RAID, P: 34, 2017).

zim-platinum

Zimbabwe Platinum deal:

“On 11 April 2008, CAMEC announced the acquisition of an interest in platinum mining assets in Zimbabwe via its acquisition of 100% of Lefever Finance Ltd, registered in the British Virgin Islands.209 Lefever owned 60% of Todal Mining (Private) Limited, a Zimbabwean company, which held the rights to the Bougai and Kironde claims south west of the city of Gweru in Zimbabwe. 210 The remaining 40% of Todal was held by the Zimbabwe Mining Development Corporation (‘ZMDC’), wholly owned by the Government of Zimbabwe” (…) “…The consideration paid for Lefever was a cash payment of US$5 million and the issue of 215,000,000 new CAMEC ordinary shares. CAMEC’s announcement of the acquisition stated:211 ‘Furthermore, CAMEC has agreed to advance to Lefever an amount of US$100 million by way of loan to enable Lefever to comply with its contractual obligations to the Government of the Republic of Zimbabwe. Repayment to Lefever is to be made from the ZMDC’s share of dividends from Todal.’” (…) “According to the company’s own 11 April news release announcing the Zimbabwean platinum deal, CAMEC advanced the $100 million loan to Lefever to enable it ‘to comply with its contractual obligations to the Government of the Republic of Zimbabwe “ (PAID, P: 38, 2017).

“Och-Ziff had control over divesting from CAMEC after the platinum deal was announced (Mugabe and senior Zimbabwean government figures were already designated under US sanctions) or after the designation of both the Zimbabwe Mining Development Corporation (ZMDC – CAMEC’s state-controlled partner in the platinum venture) and Billy Rautenbach, later described by the US as a ‘Mugabe crony’. Och-Ziff, however, held onto its CAMEC shares into 2009, selling its remaining holding only when ENRC acquired CAMEC in November of that year” (RAID, P: 41, 2017).

Important Notes:

Africa Management is referred to in the Memorandum of Association of Camrose Resources: ‘…Africa Management Limited, a company incorporated in Guernsey with registered number 47651 and whose registered office is at Ogier House, St Julian’s Avenue, St. Peter Port.’ (See Memorandum and Articles of Association of Camrose Resources Limited, Incorporated 9 October 2006, Amendment registered in this 20th day of November 2008, Memorandum of Association, 10 Definitions and Interpretation, 10.1, “Africa Management Limited”)” (RAID, P: 55, 2017).

Mail&Guardian graphic about how Tokyo Sexwale investing in Gertler corporations.
Mail&Guardian graphic about how Tokyo Sexwale investing in Gertler corporations.

That this company Och-Ziff and their subsidiaries are handling their business in this way is not acceptable, the way they are catering to corrupt government officials and stifling the citizens of the nations they are earing fortunes. These corporate-stooges are writing-off dozens of nations desirable taxes and regulated levies on businesses. As they are bribing both high-level like Alphe Conde who accepts the deals in Guinea, as well as friends of Joseph Kabila in Democratic Republic of Congo, even getting Tokyo Sexwale the former minister of ANC in South Africa to be parts of their network. These levels of bribing and usage of political connection to get resources and takeover companies with ownership of licences of profitable mines, proves the graft and bribe that occurs to secure extravagant luxury for the government officials that are accepting these deals.

The Och-Ziff are using these subsidiaries and corporations to money laundering or tax-exempt them to gain more profits on the mining in the nations. Certainly done with the leadership knowledge and showed their employee tactics to bribe and secure the transactions and ownership of profitable mines. That is certainly the reason for these sophisticated business-models, that enrichen the corporate leadership and gives government officials giant envelopes to give away nations vital resources. These well-planned well-crafted companies that uses all kind of loopholes and ways to escape the punishment for their breaching of international and national law to salvage as much profit as possible.

The long-term effect is certainly that the Guinean, Congolese and Zimbabwean government get less tax on the dollar as the corporate leadership pays them directly a smaller fee, than actually paying the legitimate taxation for their operation and their owned businesses. These actions shouldn’t be in the wind, it should be in the public and be addressed, even send the corporate leadership and government officials should answer to the public thievery as the minerals are taken without proper legal rights because of the fraud, secondly the corporate and the government officials are implicated in the thievery and should be sanctioned by courts and under the rule of law. Third the corporations themselves should lose the licence and the mining operations as they got them without proper procedure and there is invalid. They should also be fined and get banned from working in this nations or the corporations with these corporate bosses that are acting for them to gain this default destructive profits. Peace.

Reference:

Rights and Accountability in Development (RAID) – ‘‘Bribery in its purest form’: Och-Ziff, asset laundering and the London connection’ January 2017

Opinion: Ugandan Government rising debt levels, brings fear of higher inflation, devalued currency and defaulting on the debt!

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Well, an election year and campaigning as a tyrant and dictator cost, the fortunes splashed on fellow peers and citizens to buy goodwill costs. The price usually happens after the splash funds on villages and on buses. The estimated exhaust of funds and State House can strain the economy. Therefore after elections in the past there been rising food-prices, more expensive oil and gas and other needed imported goods for the average citizen.

This is happening as the donor-community doesn’t have the same faith in the Movement or the President that been there since 1986. His longevity is now hurting him, as his tricks of trade isn’t building steady progress, instead he is using up every single allocation to make sure the loyal servants and movement peers are paid-in-full, even as his own party haven’t paid salaries for months. There are rumours of how the Special Force Command with Maj. Gen. Muhoozi Kainerugaba has gotten their salaries received as much there are questions of the government bailouts of the friends and business-mates of Gen. Salim Selah.

Still, the economic problems continue to arise, the ill-minded would say there hope of wealth, but the lack of transparency, misused funds as the Uganda Revenue Authority – Oil Money scheme and other’s prove there are lacking accountability for how the government funds are spent. This with the knowledge of the lacking salaries to teachers and even Local Government funds that are spent without concern of showing where it got spent; all these activities doesn’t give confidence and trust between the stakeholders and citizens.

With all of this in mind the revelation that the growing debt are now eating too much of government spending, as the arising splashing of funds to civil servants are happening; the reports from Bank of Uganda (BoU) isn’t a beautiful fairy-tale, instead it is doom.

“In its state-of-the-economy report for December 2016, BOU said: “There are also perceptions in the market that Uganda may not be able to service its rising debt levels.” (…) “The central bank said external debt has grown rapidly and, on a commitment basis, is now estimated at $10.7bn as at end of October 2016. BOU said: “A lump up [in] infrastructure investment has contributed to a rise in our debt portfolio in recent years.” (…) “Uganda’s public debt burden has risen by 12.7 per cent to 38.6 per cent of GDP in 2016/17 from 25.9 per cent of GDP in 2012/13. BOU says it is projected to continue rising towards 45 per cent of GDP by 2020” (Mwesigwa, 2017).

Highlights on the 2015/16 budget (New Vision Graphic)
Highlights on the 2015/16 budget (New Vision Graphic)

That the Movement and the NRM are not able to service their debt, is an indication and will also create a problem with the banks and multi-national financial institutions that has offered these loans to help the government with the day-to-day operations of a sufficient government, as well as offering loans to promising infrastructure projects. These all are now in danger of defaulting loans. These levels are estimated to become 45% of the income of the Republic, which is not the sign of riches; more of poverty and mismanagement. The Executive that has been leading the nations for the decades have seen the signs of the wall, but instead of telling the truth; he has promised industrial revolution and amazing progress that would be bigger than when the United Kingdom found out how to earn money on the Steam-Engine. The same kind of promises to become a middle income nation, when your debt burden is arising as rapidly as it is doing now.

This should be worrying as the Movement has revealed and gotten released plans for own total production and releasing own notes, that could also increase possibilities of devaluing the currency, this with growing debt can create a hyper-inflation that only his fellow comrade has been able to create in Zimbabwe. That is the worst case scenario if the bank-notes production gets out of bond to sort of make quick fortunes for the Movement.

The Movement has all their days used any kind of acts to get monies for themselves and hide it away, only when gotten public they needed to have inquiries and detain the ones that not kingpins, but the low-level employees that doesn’t hurt the leadership. Therefore the concern of not a fiscal well-thought monetary policy, as the Movement are more settled on building projects without having to have giant loans from Multi-National Monetary lenders like IMF; AfDB and others. These loans has to be paid back and also with interest. As the Government bonds has also lost their track compared to the need of sufficient funding. These institutional defaults and as well with the lack of clear conscience of the use of funds, shows the Movement has to step up their game if they don’t want their currency and their budget to lack funds for the coming budget year.

The growing loans will also stop the amount of absorbed funds in the republic goes down as the government has to use bigger parts of the resources on loans, as the extended collected funds from URA might have grown, but they are not collecting enough to keep up with the debt. If so they wouldn’t have defaulted and probably would have paid their interest and debt rate as promised when they we’re accepting taking on the debt.

Time for the Movement and their regime to charge, change patterns, their eating as much as they can, but they will leave the next one with a huge bill of no-confidence, while their short-term riches will be spoiled and devalued as the coming depressing economic stability will not give the market and the currency the needed trust as it should has a tool for exchange values between two parties. Peace.

Reference:

Mwesigwa, Alon – ‘CENTRAL BANK WARNS ABOUT RISING DEBT’ (06.01.2017) link: http://www.observer.ug/business/50631-central-bank-warns-about-rising-debt

Leaked Memo: Show’s Mnuchin’s OneWest foreclosure practices, which was very questionable!

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The nominee for becoming Secretary of Treasury, the man who follows legislation and other close connected to business in the United States. Should be worrying how he has done his businesses in the past. The California courts and Attorney General tried in 2013 to create a case on the public filings of the OneWest bank and their Foreclosure practices, which got stifled by the possibility to hide liabilities through certain fixed laws that OneWest used.

OneWest did it to not get scrutiny and the Attorney General tried get them on the docket, but the working paper was the only one showing, together with what was collected from one County in the State of California. Steve Mnuchin knew about this very well, as he got the profits from the acts of malicious and defrauding citizens, using false pretence to buy properties and selling for subsidiaries.

This $2.4 billion figure should not be confused with the $2.3 billion that CIT Group received from the US Government under TARP in 2008. When CIT filed bankruptcy in 2009, the $2.3 billion became a free gift from taxpayers, never to be repaid. Total government subsidy between the two banks is almost $5 billion, yet both banks claim they are prepared to merge and become a Systemically Important Financial Institution if the proposed merger is approved by the Federal Reserve and the Office of the Comptroller of the Currency”(CRC, 2015).

“Since March 2009, OneWest has foreclosed on approximately 35,000 California homes and initiated foreclosures of approximately 45,000 more. In April 2011, OneWest agreed to the Office of Thrift Supervision’s (OTS) entry of a Consent Order. The Order included findings that OneWest recorded documents that were not properly notarized, initiated non-judicial foreclosures without proper authority, failed to devote sufficient resources to ensure proper administration and oversight of its foreclosures process, and failed to sufficiently oversee vendors” (DOJ, P: 4, 2013).

“Finally, in the review of the 300 OneWest loan files obtained from LPS, we found that 21 files evidenced unlawful conduct by OneWest. Those 21 files (7 percent of those reviewed) contained falsely dated instruments executed by OneWest, substitutions of trustee in which OneWest falsely stated that it was beneficiary under an applicable deed of trust when it was not, or both. This unlawful conduct occurred throughout the state, concentrated primarily in Southern California. The 21 files related to homes in the nine following counties: Los Angeles, Orange, Placer, Riverside, San Bernardino, San Diego, San Mateo, Santa Barbara and Ventura” (DOJ, P: 9, 2013).

“The Investigation has uncovered evidence of unlawful credit bidding, a type of misconduct that is not squarely addressed by either the National Mortgage Settlement or the Homeowner’s Bill of Rights. As detailed below, unlawful credit bidding occurs when a party other than the foreclosing beneficiary uses of the credit reflected by the deed of trust to take title to the home, when it is not legally entitled to do so. This means than other bidders at the auction (perhaps in some cases the borrowers and/or their families) are unfairly disadvantaged in the bidding process and that cities and counties throughout the state lost documentary transfer tax revenue” (DOJ, P: 11, 2013).

“OneWest undertook critical steps in the foreclosure process when it lacked the authority to do so. OneWest falsely asserted that its subsidiaries and the trustees for the mortgage-backed securities trusts had authority to conduct critical steps in the foreclosures process when they did not. This misconduct related to three common steps in the foreclosure process, each governed by statute: (1) credit bidding; (2) payment of or claim of exemption from documentary transfer tax; and (3) execution of SOTs” (DOJ, P: 18, 2013).

“To date, we have located five examples of such examples of such misconduct from public records, and we believe that many of the 86 examples of recorded substitutions of trustee (SOTs) executed in OneWest’s name bearing dates prior to date that OneWest began operations are likely to have been executed without authority (the entity purporting to sign them did not exist on the date the assignment purportedly took place). Similarly, in the review of 175 completed OneWest foreclosures in Alameda County, we found 10 unlawful substitutions of trustee” (DOJ, P: 20, 2013).

“In response, we will argue that: (1) it is undisputed that conflict preemption applies after July 2011; and (2) that complaint seeks to hold OneWest accountable for types of misconduct that were outside the scope of OTS’s claimed field preemtion because they involve criminal and civil code statutes which only incidentally affect the lending operations of federal savings associations” (DOJ, P: 23, 2013).

“We recommend that the Attorney General authorize use to file a civil enforcement against OneWest” (DOJ, P:26, 2013).

Complain files:

“OneWest also made false statements concerning its own status as beneficiary, as well as the beneficial status of others. These statements were made in a variety of contexts, including the context of the trustee’s sale bidding process and in the avoidance of transfer taxes” (County of Alameda, P: 4).

onewest-court-2012

This was only what we’re reported by two single reports earlier in the recent years, but there been questioning about the merger for OneWest with another Bank. Therefore the reality of their ways of foreclosure should have stopped and should have been looked into, as the malpractice for a quick profit. The profits of the OneWest bank we’re earned in a very disgraceful way:

“After foreclosing on almost 8,000 homes here in LA County, how can OneWest Bank say with a straight face that they’ve been a good community partner or that this merger is going to somehow help our communities?” Kinlaw said in a statement. “Foreclosing on families meant billions in profits for the billionaire owners of OneWest, but it came at the expense of families who were thrown out of their homes.” (…) “Stein said the coalition is composing a letter that will ask the Consumer Financial Protection Bureau , U.S. Department of Housing and Urban Development and the Department of Justice to conduct a fair housing and fair lending investigation into OneWest’s lending practices” (Smith, 2015).

So there wasn’t only the Attorney General of California who knew there was malpractice and unlawful activity from the OneWest on their practices on the foreclosing of their properties to secure more funds. As they bought into funds with loans and defunct debt that could give the bank property as collateral and resell the properties for more profits, especially if they fixed the contracts and back-dates so the home-owners could be sealed off or resold in subsidiary of the OneWest.

So with the knowledge of these actions, these vulture capitalists shouldn’t be running the Administration. The Administration should make sure these men and woman doesn’t get power. Because their loose, laisses-faire economic regime might loosen the regulations and will lead to more quick profits, but hurt the bottom-line, the public! Trump Administration will favour possible vultures and people who do anything to earn bucks, with no concern of the outcome for the average families and the working-class, the ones that initially got them in power. That the ironic part is the ones that exhausted and gave way for the Administration is the ones that will suffer for the economic programmes from the coming term of presidency.

Steve Mnuchin has only been in business to get wealth, by any means; his business savvy way of OneWest proves the way of use all ways to gain profits. OneWest proves that they didn’t care about how they earned their profits on foreclosures, even if they twisted documents and their ways of buying titles. As long as this is known the vulture of Mnuschin should be known and not be put away in some chamber. Instead it should be questioned if he is fit to be Secretary of Treasury and be a part of the Administration at all! Peace.

2009-03-19-indymac-federal-bank-became-onewest-bank-blank

Reference:

California Reinvestment Coalition (CRC) – ‘Fact Sheet: OneWest Bank Expected to Receive Over $2.4 billion from the FDIC’ (12.04.2015)

State of California Vs OneWest, FSB, Federal Saving Bank and DOES – Complaint for Civil Penalties, Permanent Injunction, and other equitable relief – County of Alameda

Department of Justice – MoU: ‘Executive Summery – Request for Authorization File Action against OneWest Bank, FSB OneWest Investigation (SF2012105513) – 18.01.2013

Smith, Kevin – ‘Coalition seeks investigation of OneWest foreclosures’ (09.05.2015) link: http://www.sgvtribune.com/business/20150609/coalition-seeks-investigation-of-onewest-foreclosures

RDC: Interdiction de l’Importation de la viande de porc en provenance de la Belgique (03.01.2017)

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Tanzania – Re: Stopping the Utilization of the new Electricity Tariff Order 2016-026 (31.12.2016)

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Opinion: The next steps for Besigye and continued defiance against the Movement!

OPM Press Release 05052016

It’s not easy to give words of advice to the men and woman who are in the line of fire. But we cannot let the Movement and their spin-control run the mill. They are stealing and thieving with massive speed and impunity. They are trying to avoid the weakness of the economy, trying to find new ways of revamping the economy without too much state debt and without loving donor direct aid. They still have the military and equipment served from loyal allies in the United States, if that will happen under Trump and it has happen under Bush/Obama is not easy to know; certainly U.S. will still let other brigades do the dirt they don’t want to do themselves.

The ones who toll with the problems are Dr. Kizza Besigye and his Forum for Democratic Change (FDC), they work for a peaceful transition in Uganda from the militarized politics of the President Museveni’s Movement. So with this in mind, after a year of issues, a year of tribulations, arrests, detained and charges of treason against the government; the political change is still in the wind. Besigye had deserved a better start and a fresher place as he is still monitored and still has Police following all movement done by the man. The same with his party who cannot hold meetings and public consultations without police taking stereo equipment, arrests or intimidation of citizens who shows up or just happen to be around.

Besigye had started the Campaign of Defiance under the Election Road Map for the General Election of 2016. So in 2015 it was started and has been put under fire from the Resistance Movement, an ironic problem for a draconian and tyrant regime who cannot really be democratic as they tries to silence or get rid of the worst opponents. Besigye is only kept because of known place and international scrutiny of they try to attack him too much.

FDC Besigye 05.04.2016

First Step – Defy with actions:

Besigye should continue and with more force, use more than just words and get the FDC to actually take a stronger stand against the ones that supports the regime. The Mafia regime or junta government, which he has described the Movement so many times. If FDC wants to be fair and wants to defy the Movement, they should suspend themselves first from Parliament. It is risky, but would be a grandeur position to take away the Shadow Government and the legitimacy of the current government.

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Second Step – Defy with dialogue with other opposition:

Secondly the FDC should be in talks with Democratic Party and other smaller parties that are not involved directly in the Movement regime, as they can try to weaken and strengthen the other voices. As Besigye have already done with his friendship with Lord Mayor Erias Lukwago and Gen. David Sejusa. FDC needs to be connected with people of stature like Norbert Mao and others, who are real opposition to Museveni. Not talk to Jimmy Akena or others who just uses their parties as fronts of beacon of democracy, instead of actually challenging the Movement.

Kale Kayihura Choose Peace

Third Step – Defy the Courts like IGP Kayihura:

Just as IGP Kale Kayihura defied his own court-orders, the same should Besigye himself start to do in 2017, to show that he doesn’t respect the unlawful character of the regime; as the peaceful acts of showing up for treason charge that continue running into oblivion. Time to just say it is a kangaroo court and is only doing it to silence his voice. Therefore not showing up and instead continue to travel around the country to meet and greet party officials and locals to prove the value of building institution over being a sole candidate in Museveni and the NRM.

Times is a wasting, it’s hard to do stuff when you’re behind bars or at court, it’s hard to always move when the Police Force and other Security Organizations follow your every step.

NRM to Daily Monitor 09.02.2016

Fourth Step – Hurt the pocket of the Government:

Certainly the Defiance needs to be hurting the regime. Try to stop the foreign exchange rates, the taxation and the revenue of the Uganda Revenue Authority (URA), even the business that is inter-connected with the Movement. As much as it should stop the state owned businesses that is being used by the Movement. Museveni would hate that he couldn’t misuse the profits of needed businesses, the ones that are owned by investors who are supplying him funds to pay Special Force Command and other militarized outfits that keeps him as the Executive.

If the Besigye and his folks stood behind and hurt the pocket and legitimacy, not in words only, but also actions that could move the regime and also create a vacuum that Museveni and his movement couldn’t control. The ripple effect and the true hurt would be shown. Especially with the knowledge, that the Election already hurt the economy with massive effect. So if they continue pounding on it took out the cash out of the Museveni owned banks and stopped profits to companies that the Museveni clan partly own. Than the Movement and family would feel the pinch.

Defying the state institutions and the government procedures, stop respecting the Police and Courts, stop listening to the draconian laws and also stop the funding of taxes and funds to directly keep the Movement alive. Something that would really hurt Museveni and his elite; this would really make it hard for the Movement to continue to use Police Force and use the state to gain wealth.

Besigye can continue to talk peaceful transition and I respect that. This sort of acts is not easy. They are hard and costly. Many will be arrested, many more detained, more torture and more innocent dying, but there been so much over 30 years that the defiance campaign has to take it to the next level. Show disrespect, let the government lose its value and show the world that the ones behind Besigye don’t see Museveni as their President. Museveni is just a citizen, not an Executive, as he wasn’t really elected to be so; he coup d’état again when he got sworn-in on the 12th May of 2016.

Time for acts, not talk, time for really defying the government and use the power of the people. Time to use the popularity and risk being harassed, as if you don’t than the Police will continue as they do; business as usual and also target the FDC as much as possible without it costing much for the illegitimate government it is. The illegal detained and the illegal arrests cannot be sustained, as much as the house arrests and unlawful behaviour of the Police towards the FDC is unbearable. This is not militant; it is fighting for a just cause. The real freedom and liberty, not to talk about a real legitimate government who represent the citizens of Uganda! Not a government representing Museveni and only his vision. Peace.

Uganda: “Staple food prices atypically increasing alongside prospects of below-average harvest” – Desember 2016

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Burundi: The State Controlling the Prices proven with this leaked document (27.12.2016)

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Opinion: Mwenda’s life shouldn’t be in focus, there are so many other important political questions unanswered right now in Uganda!

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I find it weird that the Facebook posts on Facebook are addressing the sexual preferences of Independent Magazine editor and owner Andew Mwenda, the man who has gone from a lone voice for the citizens to suddenly sounding like a regime imposter. Still, that is a another discussion than what has been on the web of late. Whatever sort of love-life he has is in my opinion his business, unless he marries and get wedded to the daughters of President Museveni or related to his kin. If so, than he is part of the Movement elite and the discussion of his “free” mind would be more in question, than it is already is after the revelations of late about his economic transgression with Rwandan Government and other questionable clientele.

Still, the bum-fun and the dirty dozen is the questions that are trying to figure out, instead of discussion needed political transgression that needs to be addressed, as of all of sudden in Masaka where there only green area that is saved the Masaka Golf Club, but the rest of land is grabbed by rich Chinese investors in haste that seems more like a heist than a power move from the buyers of the land. As they have sealed of land for banking business without proper titles or informed the other Central Government and not even the Local Government; the Local Council seems also boggled as much as the Masaka Golf Club who even written a letter to Central Government on the 27th December.

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This is interesting enough as the trial and imprisoned soldiers that came from the UPDF garrison in the AMISOM mission, that has already leaked pictures of torture where the fellow who are alleged for selling weapons and ammunition to Al-Shabaab warlords that the AMISOM mission tries to squash and get rid of, apparently have been mistreated by their own before a trial and proof of evidence. Soldiers and men who are serving the military and one apparent wrong to selling equipment while being on tour; still, the reason for these activities is that the UPDF and Ugandan Government haven’t paid steady salaries and the hungry fighting soldiers has to get funds to sustain themselves. Even stealing and selling ammunition to the ones they are trying to fight. That shows how wrong the systematic eating of the Central Government towards their own, how forgotten and how the mismanagement of funds from African Union and United Nation in the AMISOM army. They even torture their own who has done the last resort to pay themselves as the soldiers needs to eat food and send their family needed funds. That is why they signed up in the first place, not because all of them loves to shoot-to-kill. We already has seen during the years that the Ugandan Garrisons has sold gasoline and other equipment to sustain themselves, so that the soldiers goes to these extend says something about the arranged maladministration from the top to the bottom of the food-chain.

These two cases alone should be put on blast, more than the Mwenda’s troubles and that he cannot keep his house in order. That the land-grabbing happens as rampant that the commercial golf-course in Masaka reacts by the Chinese land-grab should put the fear in the locals and the ones who feels that the state shouldn’t just move people and take away land for a simple dime without consideration of the Local Council and Local Government, because the Central Government really needs funds. That is evident with the recent case of soon starting to print own monies that even the Bank of Uganda, fearing the inflation and devalued currency that could make the hyper-inflation as pure case for Uganda. So that President Museveni can follow the suits and shades of President Robert Mugabe who made it possible in 2007-2008. So the 50,000 note wouldn’t be biggest anymore after the start of printing. The Ugandan Citizens might have use 300,000 to buy a hand of tomatoes at the market and pay for a short ride on a boda-boda 100,000 instead of the about for instance 3,000 now. So the biggest note from the Central Government of Museveni will be after the deal is sealed is 500,000 or even a 1,000,000. That is if his business partners are lucky and get their hands in the cookie-jar while the citizens will struggle more to pay for ordinary products. That is the worst case scenario, but not far away from the regulated funds and monies in the market might be juked and fixed to the moment of brilliance of Museveni instead of technocrats that can keep the inflation at bay.

Still, people are more worried if the Mwenda has a gay-lover or more, if he has a girlfriend or even if has land overseas, as the editor is that special and needs to be discussed in this matter. Like Tamale Mirundi needs to explain how he orders tires to his taxis, buses and how make his wife happy. Instead of us hearing and understanding their machine mouths of ignorance, brilliance or nonsense depending on their day.

We should be worried of the debate, the level of what is important when the national dialogue goes on this while we haven’t gotten answers for the apparent violation of movement and religious activity as the Police Force and the other Security Organizations went into the Nakasero Mosque in the middle of the night without any pre-warning and raided the holy-house on non-existent intelligence during the Christmas Season.

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We are not to may days ago since the UPDF and Special Force Command burned the Bukihari Royal Palace in Kasese. The Kasese clashes and the deaths of several guards, police officers and soldiers during the bloody days of November 2016; this together with the aftermath where the Ombusinga bwa Rwenzuururu Charles Wesley Mumbere are lingering on treason charge at Luzira Prison while the state and security organization isn’t delivering any profile or case worth talking about. But they could pull the trigger and delete the existence of Royal Guards, kids and other bystanders as the UPDF, UPF and Special Force Command had no issues killing hundreds of people during 48 hours.

Still, a month after this we have no answers, a silent President Museveni who couldn’t care less about the killed and slaughtered citizens in Kasese and in the sub-counties close to Royal Palace. This done without precautions and done with purpose to unsettle the area and also keep people afraid of the Central Government as they can go in with all weapons and guns on civilians without any warrant. Just like they did at the Nakasero Mosque, we will see more of this as the NRM Regime doesn’t care about the loss of life and the viable aftermath after the violence. They are trying to shade over the deaths and move-on. Like they families of the dead can get a new father or mother. They just vanished in the middle of no time and without any charges except the bullets from security organizations from the NRM regime.

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When we have all of this, as much as we have a Parliament who are just thinking about themselves and not the public, why can I say that because the MPs are more important that the rest of the ordinary paying citizens who pays taxes on their salaries; something the MPs in Uganda doesn’t have to care about. While that is happening after all the newly created districts and new levels of MPs the old Parliament in Kampala is to small and doesn’t have enough facilities to the loyalist of Museveni. They need bigger space and that cost, so they can divert funds to fix the building and chambers to be filled with all of them, even if they are not always there and instead fixing suits, fixing fresh posh cars and other casual business. Like a MP who we’re caught during December that he wanted to pay over 1,5 million shillings for a three-some with two female Makererere Students while their University we’re closed. The disgraced MP has not answered after the leaked conversation came unto the web. Still, that discussion is more interesting than the bumping movements of Mwenda.

People shouldn’t dance easy just because these men are Honourable, they are MPs because they are “elected” by the people and they are paying for their existence. Still, they are fist eating without any courtesy and now their workplace get upgraded, while schools are falling apart, teachers payments are inadequate and they even has small farms to feed themselves; while the same teachers are seeing ghosts being paid to secure the local government needed funds to their post cars. Still, the MPs let them walk because the allocations are happening slow and never as much as the budget. They claim there trouble in the system, but not the people who are doing this to eat of it in the Central Government so that the ones in districts has less or nothing to eat off. That is the current state and in this state the MPs decided they doesn’t deserve to pay tax and secondly deserves a better working condition. This is disgraceful to all the diligent civil servants who doesn’t get their salary on time or getting needed funds to keep their buildings, schools and police station that are falling apart.

This is the reality of Steady progress, the proof that the Yellow Movement is a poof, it’s a created manufactured design to divert attention while the President is having a splendid time. Let you forget the torture, the mismanagement and the greed of the MPs. While the system are led by a party where the NRM EC Dr. Tanga Odoi has also been going unpaid and even Justine Kasule Lumumba had to go public and tell that the Movement we’re broke. So dope the Party running the country, the steady progress has let their men and woman go without payments for 6 months. As fresh funds has dwindled. NRM are like Central Government very broke and out of bound with reality. They are spending stupid and not caring about the consequences. Therefore the solution in the silence to print own currency together with a company that is inter-connected with the Museveni clan; that is double payment for the Executive while the citizens pays to pay for their money. A brilliant idea, but also a way of certify the inflation, if they are actually going through with this arrangement.

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Still, people care more about the donuts that Mwenda is eating. So beautiful way of spending Christmas season discussing the dumping grounds of a editor, instead of torture, ghost-salaries, land-grab or Parliamentary Mismanagement where the systemic idiocrasy of Museveni gets into the same speed as Lewis Hamilton on the Formula 1 race track in Dubai. That speed is so fast we cannot follow all of the curves as the track is burning after the wheels leave stains on the tarmac.

The same is happening with real news when the Editor is in focus for his love-life and not all of these government acts. The Ugandan President Museveni should be happy his family and elite can run their Wild West show and let a egocentric writer get all the attention. Still, the people and citizen should react to the UPDF; question the acts of Kasese and not forget together with all the other current events. Peace!