Heh, It's A Bankster CRIMINAL Indictment!
The Market Ticker ® - Commentary on The Capital Markets
Posted 2011-11-17 07:20
by Karl Denninger
in Foreclosuregate
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Heh, It's A Bankster CRIMINAL Indictment!
 

My God, it's full of stars!

The 606-count indictment alleges that the two title officers, Gary Trafford and Gerri Sheppard, directed employees under their supervision to forge their names on foreclosure documents, then notarize the forged signatures, so that it appeared that the pair actually signed the documents.

The pair then allegedly directed the employees to file the fraudulent documents with the County Recorder's office in Clark County, Nevada. The grand jury found "probable cause" that the alleged scheme "resulted in the filing of tens of thousands of fraudulent documents ... between 2005 and 2008," said Nevada Chief Deputy Attorney General John Kelleher.

606 counts, many of them felonies, specifically:

The undersigned, CATHERINE CORTEZ MASTO, Attorney General of the State of Nevada, by and through her Deputies, JOHN P. KELLEHER, Chief Deputy Attorney General and ROBERT G. GIUNTA, Senior Deputy Attorney General, under penalty of perjury, and within their knowledge, information and belief, complain and charge that the above named Defendants, GARY TRAFFORD, (hereinafter "TRAFFORD") has committed the offenses of One Hundred Two (102) Counts of NOTARIZATION OF SIGNATURE OF PERSON NOT IN PRESENCE OF NOTARY PUBLIC, (AID AND ABET), a gross misdemeanor in violation of NRS 240.155; NOTARIZATION One Hundred Two (102) Counts of OFFERING FALSE INSTRUMENTS FOR FILING OR RECORDING; a category C felony in violation of NRS 239.330; and One Hundred Two (102) Counts of FALSE CERTIFICATION ON CERTAIN INSTRUMENTS (AID and ABET); a category D felony in violation of NRS 205.120; and GERRI SHEPPARD (hereinafter "SHEPPARD") has committed the offenses of One Hundred (100) Counts of OF SIGNATURE OF PERSON NOT IN PRESENCE OF NOTARY PUBLIC, (AID AND ABET), a gross misdemeanor in violation of NRS 240.155; One Hundred (100) Counts of OFFERING FALSE INSTRUMENTS FOR FILING OR RECORDING; a category C felony in violation of NRS 239.330; and One Hundred (100) Counts of FALSE CERTIFICATION ON CERTAIN INSTRUMENTS (AID and ABET); a category D felony in violation of NRS 205.120.  Said aforementioned crimes constitute TECHNOLOGICAL CRIMES as defined in NRS 205A.030 and property which was derived from, realized through, or used or intended for use in the course of a technological crime is subject to forfeiture pursuant to NRS 179.1219. 

Hoh hoh hoh.  Not only is Nevada interested in applying some handcuffs they're also looking for forfeiture of any of the "ill-gotten gains" that resulted from the conduct or was used in furtherance of it.

This is aimed at Lender Processing Services indirectly although the firm itself has not been charged (yet anyway.)  The incentive of course is for the employees to roll over on their employers along with everyone else involved, and I suspect part of the path forward here is to go after the business records (e.g. software systems, etc) and potentially make the case in the process that these actions are directed by and through LPS and their client companies, the banks.

Remember folks, both sides of the aisle have repeatedly stated that there was no criminal conduct involved in any of what happened, despite the clear language in the statutes that "robosigning" does in fact break several laws.  In fact President Obama himself has stated that the banks broke no laws.

Well, Nevada disagrees (as do I) and now we're finally seeing criminal charges filed.

May this be the first of many hundreds of thousands and reach right up into some nice posh executive suites.

(Full indictment below -- all 440 pages of it.)

TraffordSheppardIndictment

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User Info Heh, It's A Bankster CRIMINAL Indictment! in forum [Market-Ticker]
Oldno7
Posts: 2138
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Hope for the best.

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IT'S THE SPENDING STUPID The US must become less a government of men, and more a government of LAW.
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Onelegged
Posts: 265
Incept: 2009-11-13

NW Colorado
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My fingers are crossed. If the whole thing disappears and gets "settled" out of court (with no admission of wrong doing) I won't be surprised. After all this indictment could set a precedent that isn't too desirable to a whole bunch of bottom feeders out there.

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The light at the end of this tunnel is a train.
Killersdad
Posts: 1036
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upstate NY
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About friggin time.

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They keep talking about drafting a Constitution for Iraq ...why don't we just give them ours? It was written by a lot of really smart guys, it has worked for over 200 years, and we're not using it anymore.
Perramas
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Online
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All you cash strapped States here is a giant pot of money for your sticky little fingers. Take ALL the bankers to the cleaners and leave them penniless.

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Assassination, Attack, Domestic security, Drill, Exercise, Cops, Law enforcement, Authorities, Disater assistance, Disaster management, DNDO, National prepardness, Mitigation, Prevention, Response, Recovery, Dirty bomb, Swat, Threat
Stonedog
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Green A True American Patriot!
New Jersey
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It's about DAMNED TIME!

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Phoenix
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SC
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An attorney once told me that the wheels of justice turn very slowly, but grind very fine.

I hope the statute of limitations does not run out before the grinding is complete.
Ktrosper
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Silver
ft collins co
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Gen wrote..
May this be the first of many hundreds of thousands ...

Amen.
We don't have a chance at real recovery until the fraud is stopped and prosecuted.
Phoenix wrote..
...wheels of justice turn very slowly.

Justice delayed is justice denied... The clock is ticking.

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The unexamined life is not worth living.-Socrates
The only stable state is the one in which all men are equal before the law.-Aristotle
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Mdm
Posts: 332
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South Florida
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If prosecuting these LPS employees gets them the information they need to go after the TBTF's, lets see if they actually do. I would love to see it, but I'm still not holding my breath. Regardless, hat tip to the Nevada AG's office.
Curbyourrisk
Posts: 3590
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Farmingdale, NY
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Now this needs to go viral.


Throw everyone of the ****ers in jail.

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Time is up.

I hate to burst your bubble, but there is no Santa Claus, the tooth fairy does not exist and American justice does not involve the courts.
Fraudster
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These guys are, strictly speaking, small fish. None of the big boys are going away. Remind me again what action is being taken against Corzine?

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"Circulation ceases first at the outer edges [Europe and Japan]. It will take a while yet for the decay to reach the heart [America]." - Foundation & Empire by Isaac Asimov
Mdm
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South Florida
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Quote:
These guys are, strictly speaking, small fish.


True. But they should have all the information you need to prove conspiracy. Every one of the counts in the indictment could have a second count for conspiracy against the bank for which the forgery was performed.
Vitchilo
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Yeah I'll wait for BAC, Citigroup and many other big wigs honchos to do down before I'm full of joy.

Only the small ones will get arrested.

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"Every normal man must be tempted at times to spit upon his hands, hoist the black flag, and begin slitting throats." -- H.L. Mencken
Tz
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You made my day.

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Tsberts
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Quote:
All you cash strapped States here is a giant pot of money for your sticky little fingers. Take ALL the bankers to the cleaners and leave them penniless.


Remember the tobacco settlement?

I'd like nothing better than if the term "national bank" evoked the same connotation as "tobacco company" in the mind of J6P. The states collectively taking them to the cleaners is full of win.

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Photoguy was an optimist.
In Soviet Russia, the banks are run by the politicians.
The cancer within the federal government has metastasized, it's now up to each of the states to contain the cancer.
Anti
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Praise the Lord!

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Steelhead23
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Let us pray that Trafford and Sheppard becomes a landmark case and they both cop a plea and become state's witnesses against bigger fish, and they in turn cop a plea ..., until Dimon, Blankfein, Mozillo and all their friends are in the dock. It is this - prosecution of this nation's enemies in the FIRE industry - that would do the most to restore the legitimacy of the U.S. Government. The smoke of revolution is in the air, this AG is starting to fight the fire.

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"Give me control of a nation's money and I care not who makes it's laws" —Mayer Amschel Bauer Rothschild Benjamin Bernanke
For-profit commercial banks are a menace and should be eradicated
Pookie
Posts: 260
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Florida
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"These guys are, strictly speaking, small fish."...We will just have to keep moving up the food chain. Get the ball rolling...making them squirm...so they'll turn somebody else in to try to save their own ass.

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Once you admit that the individual is merely a means to serve the ends of the higher entity called society or the nation, most of those features of totalitarian regimes which horrify us follow of necessity. --F.A. Hayek
Vidad
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Praise the Lord and pass the ammunition!
Oldpool
Posts: 873
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There is a lot more to be done to right these wrongs. This makes me reflect on something my mother said at the time of the Watergate hearings, something to the effect that justice always prevails in our country.
She also use to say "thats what the old lady said as she kissed the cow", my point being that all the media distraction/disinformation now directed our way is just trying to interfere with the proper application of justice. Kind of how the system is trying to suppress the Paul vote, or the Guns Gays and God deflector issue that was used to co-opt the Tea Party. To me the "old lady kissing the cow" reflects our inalienable right to Liberty.

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Liberty, Comrade!
Andyc
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Small fish


Good link Oldno7
Gamma
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Oldno smiley that was great! Very Vegasy!

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This stuff we're going through, this is nothing compared to the Middle Ages.
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Preidt2
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Are these little fish,how bout the big tuna paulson,gigner,sorr,omama,buryakee.
Is just to give a little satisfaction while the planners go free,to quite occupy

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Wingnut77
Posts: 2
Incept: 2010-05-20

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I have a friend who lives in Clark Co., NV and purchased a house that had been foreclosed a year or so ago. Is this action going to result in any problems for him if it is found that the foreclosure was improper?
Mannfm11
Posts: 3537
Incept: 2009-02-28
Gold
DFW, Tx
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Note that Obama is a rule of necessity guy. Necessity knows no law. Necessary according to whom. It might be necessary to kill someone to keep their mouth shut. Necessary for banks to forge documents in order that the true nature of a loss not see the light of day. One fraud generally needs another and the more that pile up the more robo signing and such needs to be done. When 10 year bonds hit 10%, these idiots might realize something is wrong. There are few criminals in prison with morals as low as our President. Just listen to the deceit and fraud that repeatedly comes out of his mouth. Listen to his solutions for Europe. If they are followed, we can expect a 1 cent Euro within 10 years. That is, if the US doesn't beat them to the bottom following the same policies.

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The only function of economic forecasting is to make astrology look respectable.---John Kenneth Galbraith
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