Jewish Frauds

[jbg]

Over the two + years I have been posting here, I have often advocated on behalf of both my country, the USA and the Jewish people. I am proudly a member and supporter of both. But, I will also call out our respective blemishes.

The Jewish people, at least in the U.S. has an unhealthy affinity for being in the middle of financial frauds. Mark Levine's arrest back in the 1986 insider trading scandals started the unravelling of Drexel, whose head was the Jewish Michael Milken (sp). Now, sadly, a Jew is in the middle of a major financial debacle, touching on Canada. Prominent New York attorney Mark Dreier was arrested in Toronto for criminal impersonation, when he showed up impersonating an attorney named Padfield of the Ontario Teacher's Pension Trust. (link to article), excerpt below.

Firm in Turmoil After Arrest of Marc Dreier

The New York City office of 250-lawyer Dreier LLP was in turmoil last week following the Tuesday arrest of its founder, Marc S. Dreier, in Toronto on an impersonation charge.

"It's like an atom bomb went off in the building - people are stunned and dazed," a lawyer in the firm said Friday.

After three days in jail, Mr. Dreier posted $100,000 bail Friday following a hearing at the Ontario Court of Justice earlier in the afternoon, according to a spokesman for the Canadian Ministry of the Attorney General.

In an interview, Mr. Dreier's lawyer, Edward Greenspan, said Mr. Dreier was expected to return to the United States by Sunday.

**************

The Toronto Globe and Mail, which sent a reporter to the bail hearing, reported that the charges against Mr. Dreier stem from a multimillion-dollar deal between the Ontario Teachers Pension Plan and Fortress Credit Opportunities. Mr. Dreier pretended to be Michael Padfield, senior legal counsel for investments at Ontario Teachers, according to legal documents. When Mr. Padfield arrived, police were called.

The scandal proved far more serious (link to more recent article about denial of bail in New York).

Dreier Stole $380 Million, U.S. Says; Denied Bail as 'Enormous' Flight Risk

By Mark Hamblett

December 12, 2008

A prosecutor yesterday more than tripled, to $380 million, the sum the government says attorney Marc Dreier has stolen from hedge funds and investors.

The prosecutor, Assistant U.S. Attorney Jonathan Streeter, also told a federal magistrate judge that Mr. Dreier's frauds, initially reported as occurring since October and amounting to $113 million, stretched back at least to January 2006.

****************

Mr. Dreier, a commercial litigator who founded Dreier LLP, was arrested at LaGuardia Airport Sunday night on a bare-bones complaint charging one count each of securities and wire fraud for trying to sell, and selling, to three hedge funds fictitious notes he claimed had been issued by a real estate company. Along the way, he allegedly hijacked the identity of both Solow Realty and an accounting firm to make the sales.

Based on what Mr. Streeter said yesterday in court, Mr. Dreier could face additional charges.

"He has been fooling some of the most sophisticated investors in the world," Mr. Streeter said.

This event does not diminish my pride in being Jewish. It is just important to admit that we have our faults. With some groups, it is unabashed, unrestrained violence. Others, alchoholism. With Jews, it's swindles. Most Jews are honest. But not all.

[Sir Bandelot]

I fail to see what this has to do with jews per se. If he were a christian, would this thread be called "christian frauds"? I doubt it.

Or is the guilt complex another manifest of jewish neurosis?

[jbg]

I fail to see what this has to do with jews per se. If he were a christian, would this thread be called "christian frauds"? I doubt it.

Or is the guilt complex another manifest of jewish neurosis?

Good question.

I have over the years been quite the advocate for Jews and Israel. I wanted to show some balance and objectivity.

[August1991]

The Jewish people, at least in the U.S. has an unhealthy affinity for being in the middle of financial frauds.

Jewish? What's that? I have noticed that humans with a penis seem to be at the base of many frauds.

Between Jewish and penis, at least the penis designation has something measurable. (Are you Jewish if your mother was Jewish but your father Christian?)

----

jbg, underneath your OP is the idea that specific groups can be identified with specific behaviour. I happen to think that they can be. For example, someone with a Japanese passport probably speaks Japanese.

But here's the question: does the passport make them speak Japanese or do their Japanese language skills entitle them to a passport?

[BC_chick]

jbg, you could've read that article and just shrugged it off, so I commend you for taking the time to try and prove your unbiased opinon on this forum by pointing out that "Yes! Jews aren't perfect!"... but seriously, fraud isn't a Jew crime, it's a human crime.

I'm thinking you're so busy reading the news and attributing bad qualities of certain other tribes (no names mentioned) to populations as a whole, that perhaps your inclination toward stereotyping people is starting take place with your own kind as well.

In reality, violent crimes exist in all kinds of people, so does fraud, petty theft, child-molestation... and yes, even being disrespectful to your mother.

[AngusThermopyle]

I have noticed that humans with a penis seem to be at the base of many frauds.

Interesting, I didn't know Martha Stewart has a penis, I wonder if she knows?

[White Doors]

Interesting, I didn't know Martha Stewart has a penis, I wonder if she knows?

I've always suspected

[AngusThermopyle]

I have noticed that humans with a penis seem to be at the base of many frauds.

That just can't be refuted.

In all honesty I don't think any monkey or donkey has ever been at the base of any frauds.

[GostHacked]

In all honesty I don't think any monkey or donkey has ever been at the base of any frauds.

Some people can be roosters, and some can be donkeys.

[kimmy]

Why do humans with a penis seem to be involved in large-scale frauds more often than humans without a penis?

Probably because humans with a penis have historically and continue to be more often in positions to commit large scale fraud. High positions in banking and business and so-forth.

Why do Jews seem to be involved in large-scale frauds more often than their numbers might indicate?

Probably because Jews have historically and continue to be often in positions to commit large scale fraud. High positions in banking and business and so-forth.

I think the people most likely to commit a $380 million fraud are people who handle $380 million on a regular basis. (that is where I would start investigating such a crime, at least...) If a disproportionate number of people in such positions were Jewish, that's not a slam at Jewish people. Jewish people have a long history in finance, and I would not be surprised if they continue to be active in finance in disproportionate numbers, simply for reasons of family tradition.

-k

[jbg]

I think the people most likely to commit a $380 million fraud are people who handle $380 million on a regular basis. (that is where I would start investigating such a crime, at least...) If a disproportionate number of people in such positions were Jewish, that's not a slam at Jewish people. Jewish people have a long history in finance, and I would not be surprised if they continue to be active in finance in disproportionate numbers, simply for reasons of family tradition.

Probably a good observation.

[mystic]

"I fail to see what this has to do with jews per se. If he were a christian, would this thread be called "christian frauds"? I doubt it"

If three people called Aloysius embezzle you, it's human nature to be suspect of every person with that name. Yes, statistically of course, most Jews are honest, but when there is a patten, one leapa to (dangerous) conclusions. Howcome the 3 trillion dollars on Pentagon comptroller Rabbi Dov Zakheilm's watch disappeared overnight and he fled to Israel? Howcome no one is asking that question? Then there's the 400 billion that disappeared from Lehman Bros between Sept 15 and 19. Then the US Federal reserve, (a private bank), won't tell anyone who the beneficiaries of the "bailout" were. Sounds like a huge epic fraud to me. Aloysius is suspect.

[Sir Bandelot]

Sounds like a huge epic fraud to me. Aloysius is suspect.

Now theres a great opening post... all jews guilty by association. So what do you conclude, mein Herr, shall we start rounding them all up?

[Oleg Bach]

Now theres a great opening post... all jews guilty by association. So what do you conclude, mein Herr, shall we start rounding them all up?

Some Jews traditionally cut a deal with the powers that be..There job is to do the dirty work and generate confusion - this allows their superiours to continue the good and powerful existance they are so used to..but there is a sad part to the contract - when it all turns to shit - The Jews job is to keep his mouth shut and take the fall..and they get paid for falling - sometimes this arrangement gets out of hand and a good old fashioned holocausting is in order to appease the population that just got robbed - much like the collapse of the economy back in the 20s ----mean while Jews that had nothing to do with the fraud get burned - and those that are responsible along with their elite anglo gentile masters get to walk away free every time - great arrangement for some.

[jbg]

Unfortunately, a major financial fraud hit the news, about Bernard Madoff (pronounced "made-off", pun intended) (llink to article, subscription required, will e-mail link good for two weeks upon PM request). Excerpts below:

By ROBERT FRANK, PETER LATTMAN, DIONNE SEARCEY and AARON LUCCHETTI

New potential victims emerged of Wall Street veteran Bernard Madoff's alleged giant Ponzi scheme, with international banks, hedge funds and wealthy private investors among those sorting out what could amount to tens of billions of dollars in losses.

New York Mets owner Fred Wilpon, GMAC LLC Chairman J. Ezra Merkin and former Philadelphia Eagles owner Norman Braman were among the dozens of seemingly sophisticated investors who placed money on what could prove to be history's largest financial scam.

*********************

"I'm wiped out," said Sandra Manzke, Maxam's founder and chairman. The Darien, Conn., fund of hedge funds will have to close as a result of the losses, she said.

Mr. Madoff, the founder and primary owner of Bernard L. Madoff Investment Securities LLC in New York, was arrested and charged Thursday. Prosecutors allege that the 70-year-old Mr. Madoff hid losses, paying certain investors returns using principal he received from other investors. Prosecutors and regulators have yet to determine how much has been lost, or the amount in assets still held by Mr. Madoff's business.

******************

During golf-course and cocktail-party banter, Mr. Madoff's name frequently surfaced as a money manager who could consistently deliver high returns. Older, Jewish investors called Mr. Madoff " 'the Jewish bond,' " says Ken Phillips, head of a Boulder, Colo., investment firm. "It paid 8% to 12%, every year, no matter what."

**************

Mets owner Mr. Wilpon, who also owns real-estate investor Sterling Equities, often raved about Mr. Madoff's investment prowess and invested tens of millions of dollars of both his own money and the team's with his company, say financiers who have worked with him. Mr. Madoff handled investments for the Judy & Fred Wilpon Family Foundation, which distributed about $1 million a year in 2005 and 2006 to charities, according to its most recent federal tax returns.

[jbg]

Now theres a great opening post... all jews guilty by association. So what do you conclude, mein Herr, shall we start rounding them all up?

I am Jewish. My sole point was that unlike certain other groups, we discuss our foibles publicly.

[Sir Bandelot]

I know that JBG, I was referring to the post immediately above mine... guess I shoulda QUOTED it!

[jbg]

Unfortunately, a major financial fraud hit the news, about Bernard Madoff (pronounced "made-off", pun intended) (llink to article, subscription required, will e-mail link good for two weeks upon PM request).

Links to free articles:

1. New York Times (link);
   
2. Yahoo News (link)
   

[August1991]

Interesting, I didn't know Martha Stewart has a penis, I wonder if she knows?

Angus, your attempt at being PC is pathetic.

[in fact, women criminals typically choose fraud as a way to win.]

----

My point was that 78 year old women tend not to hijack planes, rob banks or organize home invasions. So why, when we all board a plane, do security staff undertake "random" checks?

I think the people most likely to commit a $380 million fraud are people who handle $380 million on a regular basis. (that is where I would start investigating such a crime, at least...) If a disproportionate number of people in such positions were Jewish, that's not a slam at Jewish people. Jewish people have a long history in finance, and I would not be surprised if they continue to be active in finance in disproportionate numbers, simply for reasons of family tradition.

I think Kimmy got my point.

[Oleg Bach]

Israel is a real nice money laundering center. I know of two brothers who defrauded on of their own for almost 7 million bucks - off they went to Israel with a suit case - the only questions asked at the bank was "country of origin" - that was it - so one brother skips off to south America and gets money sent for a while - then his own tribe rip him off...now he is back in Canada on welfare ALSO with no questions asked - not even the mention of a potential crimminal charge - I guess they are very close and forgiving - even when they rip each other off.

[Ontario Loyalist]

Good question.

I have over the years been quite the advocate for Jews and Israel. I wanted to show some balance and objectivity.

Are you sure that you're not just doing this to bait people into making what you would consider anti-Semetic remarks?

[Ontario Loyalist]

Probably because Jews have historically and continue to be often in positions to commit large scale fraud. High positions in banking and business and so-forth.

I think the people most likely to commit a $380 million fraud are people who handle $380 million on a regular basis. (that is where I would start investigating such a crime, at least...) If a disproportionate number of people in such positions were Jewish, that's not a slam at Jewish people. Jewish people have a long history in finance, and I would not be surprised if they continue to be active in finance in disproportionate numbers, simply for reasons of family tradition.

-k

"family tradition," is it? LOL. People who put themselves in a position where they are part of a corrupt system and perpetrate these kinds of crimes have lack morality and CHOOSE to put themselves in that position. The fact that so many Jews are involved in this kind of thing largely has to do with the fact that nothing, to my knowledge, in their religion teaches them that money, greed, corruption is wrong in the eyes of GOD; they believe by virtue of racial heritage that they are God's "chosen people" and whatever it takes to perpetuate the Jewish race is acceptable conduct. That said, there are people in every race and religion that are totally devoid of morality and halp keep this corrupt society going.

[Oleg Bach]

"family tradition," is it? LOL. People who put themselves in a position where they are part of a corrupt system and perpetrate these kinds of crimes have lack morality and CHOOSE to put themselves in that position. The fact that so many Jews are involved in this kind of thing largely has to do with the fact that nothing, to my knowledge, in their religion teaches them that money, greed, corruption is wrong in the eyes of GOD; they believe by virtue of racial heritage that they are God's "chosen people" and whatever it takes to perpetuate the Jewish race is acceptable conduct. That said, there are people in every race and religion that are totally devoid of morality and halp keep this corrupt society going.

The average Jew is not rich or corrupt - go take a look at the Orthodox ones along Bathurst Street in Toronto..they are law biding and believe in God and goodness...of course there are those that are not religious but like to seek the protective security blanket of religious privledge and protection - It's usually these corrupt ones that say they are Jewish but are only nominal Jews...These culprits are the same type back in the 30s who did committ grand fraud and quietly stood by as their religious bretheren were blamed and slaughtered. So it's not whether you are a Jew or not - It is whether you adhere to goodness...bad people fly the banner of every race - culture and religion...much like a privateer will fly the nations flag - when he should be really flying the Jolly Rodger.

[AngusThermopyle]

Angus, your attempt at being PC is pathetic.

Actually the only pathetic thing here is your feeble attempt to justify and defend a hugely sweeping generalization and totally stupid comment.

Thank you, run along now.

[August1991]

Actually the only pathetic thing here is your feeble attempt to justify and defend a hugely sweeping generalization and totally stupid comment.

Feeble? Who is being feeble, me or you?

Angus, 78 year old women tend not to hijack planes. Old women may defraud people or tell lies but they rarely if ever organize home invasions.

----

According to the religion of Political Correctness (and you apparently are a believer, Angus), we're all equal and no one is different. The 78 year old grandmother must submit to a random check just as the 21 year old sweaty student. In your faith-based religion, it is heresy to suggest that the young student (much less a swarthy young student) is any more guilty than the 78 year old grandmother.

Angus, I suggest you go back to basic principles of the Scientific Method and the Enlightenment. A hint: Left-handed people write with their left hand.

I am Jewish. My sole point was that unlike certain other groups, we discuss our foibles publicly.

Oy vey. What group on this world does not gossip. Edited December 16, 2008 by August1991