It is beyond the surreal, when you watch a case you lived for a decade plus - come up on public television. Today, on CNBC World, Episode #55 "Generous With Other People's Money" - is about the Tom Petters Ponzi scheme case (see it again or TIVO at 2 pm eastern time on CNBC WORLD). They denote the fact that the Petters Ponzi scheme was the largest scheme, Ever, in America - until Madoff (I would argue it is bigger than Maddof - because it also has connections to Fingerhut, eToys, Dreier, Traub and even our Presidential wannabe Mitt Romney - oh yeah and even a connect the dots to Madoff).
CNBC's American Greed is narrated by Stacy Keach and details many facts about the Petters Ponzi scheme case. They do properly note that the beginning of the big climb is the Fingerhut acquisition. A deal worth several hundred million dollars. After that, Tom Petters went on to purchase Polaroid, Sun Country Airlines and more.
However, there are many other parties and issues involved that are not being mentioned. It was released by the feds, that Petters and some partners knew the heat was coming in 2007 (the year the stock market took a big beating and money to fund the scheme began to dry up). There are conflicts of interest all over the place - including one overlooked by American Greed - as it interviews the federal court appointed Receiver Doug Kelley; they fail to note Mr. Kelley's 1st worked as attorney for Tom Petters companies.
Bain, Goldman Sachs, Paul Traub connections don't bode well for Mitt Romney
What is a really big deal is the facts that Tom Petters partner was Paul Traub. It is noteworthy on many levels. Such as the fact taht Mr. Traub continues to fraudulently benefit Mitt Romney thru his Bain entity. Paul Traub was Tom Petters partner in Fingerhut, Red Tag/ UBid, Petters Group Worldwide and Polaroid. Of all the assets seized by "the" former Petters attorney turned Receiver and Bankruptcy Trustee (Doug Kelley) - you see very little mention of Red Tag / UBid. Almost no mention of Fingerhut that received a $50 Million funding (and change of ownership) from BAIN and Goldman Sachs - right before the FBI arrested Petters. The Minnesota Public Radio article (here) denotes that;
Bain Capital. Controlling investors. Sound familiar at all?Paul Traub now owns Polaroid that stiffed Ritchie Capital more than $150 million
It's the company founded by Mitt Romney.
Paul Traub is my enemy, Bain & Goldman Sachs are my enemies, Mitt Romney Is My Enemy.
Being that I am also, more likely than not, on the Secret Service watch list to not be allowed near Mitt Romney - so that I cannot throw glitter upon him,
I am also an enemy with any and all of the corrupt federal agents protecting Sachs/ Bain/ Romney & Traub from investigation and prosecution.
You can see my websites and affidavits on the Fraud, Cronyism and Corruption
Connections to Mitt Romney/ Bain
- via organized criminal Paul Traub
There are many connections germane in this Petters case. One partner of Tom Petters was only recently prosecuted and is going to trial in October - Frank Vennes. Why he was kept out of the limelight is anybody's guess. Though it may have something to do with the fact that Frank Vennes claims to be super religious and donated monies to Christian charities = as well as politicians like Senator Coleman and another presidential wannabe Michele Bachman.
It took us years of reporting Paul Traub, Tom Petters and Palm Beach Links Capital (PBL) to the feds, before any actions transpired.They still are not arresting Tom Hay, David Baer, Mary Jeffries and PBL affiliateds Steve Cammach or Bill Cawley. They may all get away Scott Free.
But, they are minor fish in the sea of fraudulent woes. Hopefully their crimes sprees have come to an end. It is he who continues to be nefarious, that is the crux of our case concerning tyranny, cronyism and corruption that is benefiting an organized criminal empire.
Paul Traub was partners with Tom Petters even in 1999. In a Delawware bankruptcy case entitled PillowTex, Paul Traub and Tom Petters enjoyed a neat play on words of their entity that tried to acquire PillowTex. Their partnership was entitled PT Partners. They were unsuccessful. Petters and PT Partners were outbid in 2002 as whole = by separate individual piece bids (see article (here)).
Connections to Romney's Bain and Goldman Sachs in 2001
For all you naysaying followers of my main adversary here (yeah YOU know who I mean) - it is simply transitive logic that connects the dots of Mitt Romney to federal fraud in these cases. If A=B and B=C then A=C or has a connection to C.
Mitt Romney was CEO of Bain in 2001
In 2001 Bain committed organized federal frauds (and still does)
As CEO in 2001 of Bain - Romney was head of the organized crime entity.
Paul Traub benefits Bain
Bain (even today) Benefits Mitt Romney
Paul Traub benefits Romney
(and a POTUS wannabe power potential benefits Traub)
Paul Traub was partners with Tom Petters
Bain/ Goldman Sachs collude and conspire with Paul Traub in fraud
Tom Petters and Paul Traub owned Fingerhut/ UBid and Polaroid
Paul Traub now owns Polaroid as partner at Gordon Brothers
Goldman Sachs and Bain refinanced ownerships of Fingerhut (August 2008)
Feds have not seized Fingerhut assets or arrested Paul Traub (Petters partner).
Romney still gets millions annually from Bain
It is public knowledge that Mitt Romney still gets millions per year from Bain. He claims it is part of his retirement package. As remarked upon in this Think Progress story in 2011 - even before Mitt Romney had snagged the 2012 GOP nod lead - Romney gets millions every year from Bain. It states;
In what would be the final deal of his private equity career, he negotiated a retirement agreement with his former partners that has paid him a share of Bain’s profits ever since, bringing the Romney family millions of dollars in income each year and bolstering the fortune that has helped finance Mr. Romney’s political aspirations.Just remember, Mitt Romney himself has documented this connection. That is what he argued when he said "Corporations Are People". As seen in this Talking Points Memo YouTube video - Mitt the pitts argues himself into the corner of making my point for me - as he iterates so succinctly - that the money goes to people.
MSM lying about Romney leaving Bain in 1999
Yes, this one is for YOU. We know that the main stream media has done a massive point making that Mitt Romney left Bain in 1999. It has been stated over and over again. Just remember - A Lie is a LIE - no matter how often it is repeated or how many naively are duped into accepting it. The truth is the TRUTH - even if everyone refuses to believe it. Fortunately, you have this abused blogger still holding onto the tiger's tail.
At FACT CHECK.ORG (here) - it erroneously picks on Newt Gingrich's film "King of Bain" stating - falsely - that Mitt Romney left Bain 2 years before Bain [Capital] acquired Kay Bee Toys (by the way it is Bain Capital that is germane - you have to be careful with their quirks/ twists).
But, as you may have noticed - John McCain's 2008 two-hundred (200) page document on Mitt Romney tells us the true facts. It denotes - as reported (here) by the Legal Insurrection - that on page 136, Mitt Romney was still at Bain as CEO in 2001. It states;
Romney Served As CEO Of Bain Capital Through August 2001, Even Though He No Longer Ran Daily Operations. “Although he gave up running day-to-day operations at the venture capital firm in order to head the Salt Lake Winter Olympics, he remained CEO and held his financial interest in the company through August 2001.” (Stephanie Ebbert and Yvonne Abraham, “Camps Spar Over Romney Word Choice,” The Boston Globe, 10/31/02)The other evidence about this is the DDI case. That Mitt Romney had signature resposibilities for that deal in 2001. Bain affiliated parties have come out and said that it was really a "ghost" position Romney was filling. The same "ghost" position excuse that Mr. Paulson and Mr. Blankfein hope they can give you concerning our cases.
Romney/ Bain Benefit from Paul Traub's Criminal Efforts
It is a fact that Paul Traub committed federal fraud and perjury. He has already confessed to it in 2005 (see parts 19 & 35 of the US Trustee Testimony of Paul Traub's Fraud on the court confession (here)). He admitted that he illegally placed his (secret) partner (Barry Gold) in as post bankruptcy petition President/ CEO of eToys. This is a criminal act of conflict of interest, because Paul Traub worked for the creditors of eToys. A bankruptcy estate is supposed to have a diametrically opposed Creditor v Debtor (like GOP v Dem). The Debtor wants to keep the monies and survive - the Creditors want to get paid. Not only did this relationship destroy Congress's intent of the Code/ Rule of Law - it was a much more fiendish scheme.
We have been ranting and raving about this for more than a decade now. Yes, we have won many battles. As you can see from the picture to the right (from www.BankruptcyMisconduct.com websites) - Paul Traub (pictured far right side) was not only partners with Petters, he was partners with the Marc Dreier law firm. Dreier is doing 20 years, Petters 50 years - another double sided case (OKUN 1031 Tax Group) - has Okun doing 100 years. Yet Paul Traub winds as an owner of Polaroid for Free.
(NOTE: Speciously 1031 Tax Group website is now DOWN).
In our previous Diary (here) we pointed out another case that the main stream media is failing to bring the attention of public concerning Romney/ Bain. That is the case of The Learning Company. It cost Mattel $3.8 Billion in losses and was given away for free to Gores Technology Group (who later paid Mattel a total of $27 million). That did happen in 1999. It was merged with Mattel by Delaware law firm MNAT (another Bain secret firm).
Obviously, they would have to change the date of Romney's tenure again - to escape that one. Thus, they just simply don't report it. However, in the fall of 2000, Bain [Capital] acquired Kay Bee Toys. Now with Bain affiliated parties working with / inside Mattel and Kay Bee Toys - a scheme was hatched to snatch the entire, independent, toy retail industry by monopoly.
Bain now owns Toys R Us, that owns Kay Bee Toys, BabyUniverse, The Parent Company, FAO Schwartz and eToys. All those cases have one common element/ formula of success.
Paul Traub was the attorney for the Creditors and Bain wound up with the sweet deal.
A big sweet heart deal is the Fingerhut deal. What the main stream media and CNBC's American Greed does not tell you is that Paul Traub flew into Minnesota July / August 2008 - right before Petters was arrested. Mr. Traub made arrangements for his secret friends (Bain and Goldman Sachs) to give $50 million in new funding to Fingerhut. At the same time they neatly and surreptitiously changed the ownerships. A great criminal strategy - simply have Capone put the assets in a friends name - when the feds are gonna come a callin. See the Minnesota Public Radio website story (Here) that states;
Fingerhut's financial strength is excellent, having recently completed a new round of equity financing of more than $50 million of additional capital from controlling investors Bain Capital and Battery Ventures.What now one is revealing is the fact that Petters and Traub bought Fingerhut with fraudulent monies. They CAN"T mention that fact - without Paul Traub's name getting published. That would spell doom for Mitt Romney/ Bain and Goldman SAchs.
Paul Traub settles eToys v Fingerhut and then Buys Fingerhut with Petters Frauds
Even more significant is the fact that the Fingerhut was the entity blamed for eToys need to file bankruptcy. There was a major lawsuit going on between eToys and Fingerhut - because Fingerhut kept messing up eToys Christmas season deliveries. Paul Traub and his partners (MNAT and Barry Gold) - speciously settled the eToys v Fingerhut law suit for a paltry sum. Then Paul Traub and Tom Petters bought Fingerhut with fraudulent monies.
Several corrupt Federal system/ Department of Justice issues have helped assure this success. Colm Connolly, Delaware United States Attorney worked for the Bain/ Goldman Sachs law firm MNAT in 2001 - the very year the eToys/ Kay Bee crime spree began. Mr. Connolly refused for 7 years to investigate or prosecute the crimes - even when we had confessions to intentional fraud on the court.
After that, Paul Traub's partners Marc Dreier committed $750 million in fraud. YOu can't find fault with him for not making the billion dollar mark - he got started late with Traub (in 2007). Then Tom Petters committed over $40 billion in fraud. Yes, I know the main stream has reported on $3.7 billion. But that is bogus too. Larry Reynolds and Michael Catain - each testified they did not work with one another and committed $10 billion and $12 billion in fraud.
NOTE - Larry Reynolds was under investigation by IRS and SEC when he committed his $12 billion in fraud in Las Vegas Nevada and Los Angeles California. I know this, because I shared an office with him and declined to become part of their schemes and left. Reynolds and his partners had previously set me up to lose $750,000 to Tom Petters (a neat story in itself of The Wiz case). But, MOST importantly - Larry Reynolds did this while enjoying Federal Protection.
Department of Justice is invested in Romney's Bain & Paul Traub frauds.
As if the Larry Reynolds issue of his being in WISTEC while committing Billions of dollars in fraud. While also in Las Vegas and under investigation by the IRS and SEC. Is not enough to command a full blown federal investigation and Congressional hearings on the incompetence or failures thereof.
It is not the worse Yet.
There are many issues of tyranny, cronyism and corruption. MN Judge Ann Montgomery took the Illinois federal case away after the fact. Giving it to her crony Doug Kelley (see details on Petters 2nd fraud website (here)). Doug Kelley was 1st Tom Petters attorney, then the Federal Receiver and - if those conflicts of interest were not enough already - she allowed Doug Kelley to be a bankruptcy trustee of Petters.
We reported how US Attorney Colm Connolly did engage in criminal duplicity - to bury the cases of Bain and Traub - to the US Attorneys' office of the Public Corruption Task Force in Southern California. They responded by Shutting it down and stating there were NO Public Corruption cases to prosecute and actually Threatened career Assistant United States Attorneys to keep their mouths shut or Else.
See this Los Angeles Times article "Shake-up roils federal prosecutors"
But, that is not the worst of it all. There are several - Questionable - Untimely deaths in these related cases. I moved a gal back to Minnesota and she gets cancer. Another person in DE gets cancer and one he introduced me to winds up dead in the dump. But they all pale in compare to the one thing that I know and the main stream media refuses to tell you.
You ask how a Madoff or Tom Petters can get away with it for a decade?
Here's how. Department of Justice willful blindness and duplicity. I've been threatened by the FBI on 3 separate times and in 3 separate states. They don't want the evidence. Especially when a MN Assistant United States Attorney is directly linked to the case. In the transitive logic examples MN US Attornehy = Prosecution of Tom Petters Ponzi and Petters Ponzi Prosecution equals Greg Bell.
Greg Bell's associate involved in the Billion dollar fraud in Illinois was Marty Lackner
Marty Lackner was a brother to MN Assistant US Attorney J Lackner.
But we will not get to see their proof of Traub/ Bain/ Romney
Because Marty Lackner purportedly committed suicide - before giving me his files
And the press - the brilliant Main Stream Media - says that is not a public story
I would hurry and copy/ paste all the links and clip board these facts.
If I happen to specious demise - who will be left to report them?
You can catch the Tom Petters case again today at 2 pm eastern on CNBC World