Friday, June 8, 2012

AIG, JP Morgan, JPMorgan Chase, Prudential, MetLife, and Unum Commit Identical Crimes !!

No One is Prosecuted By Obama’s DOJ, DOL, and SEC Directors. The Dangerous Crimes Continue !!

Section 1 - JP Morgan

JP Morgan received a non prosecution agreement for bid rigging in 32 States on July 6, 2011.

Here’s a quote from the U.S. Department of Justice :

“From 2001 to 2006, certain then-employees of JPM at its municipal derivatives desk (which was closed by the Company in 2008) and/or predecessor desks entered into unlawful agreements to manipulate the bidding process and rig bids on certain relevant municipal contracts, and made payments and engaged in other activities in connection with those agreements, in violation of Section 1 of the Sherman Act, 15 U.S.C. § 1, and certain sections of Title 18 of the United States Code”

No one was prosecuted !!

The full agreement can be seen at :

JP Morgan received another agreement from the SEC. Here are quotes from ProPublica :

“The $154 million settlement the Securities and Exchange Commission wrested from JPMorgan Chase involved only one of more than two dozen mortgage securities deals that the hedge fund Magnetar helped create. As we detailed last year [1], many banks in the waning days of the boom created collateralized debt obligations, or CDOs, with the help of Magnetar, which also bet against many of the same investments.”

 I believe it’s important to note that almost $3 million dollars was given to President Obama and other political candidates by managers and employees of JP Morgan and JP Morgan Chase in 2008.

Here’s a link to $1,862,725 :

Here’s a link to $982,561 :

In 2010, 38 different lawmakers disclosed holdings in JP Morgan Chase, assets totaling between $2.1 and $3.8 million. Democrats and Republicans alike own stock in the company, while the biggest congressional shareholder was Sen. Frank Lautenberg (D-N.J.), who reported owning at least $1,000,001 in JPMorgan Chase stock

Section 2 - AIG

AIG received multiple Non Prosecution agreements for bid rigging and aiding & abetting Securities fraud. This occurred while AIG also received $186 Billion dollars in bailout money from the U.S. taxpayers !!

AIG Crime  1 of 4 

AIG Insurance Company rigged so many bids in Workers Comp cases they were fined 1.6 billion dollars !!!!

In 2006 the Securities Exchange Commission wrote :

"AIG will pay in excess of $1.6 billion to resolve claims related to improper accounting, bid rigging and practices involving workers’ compensation funds.”

No one was prosecuted !!

This occurred during the exact same time that WFAA-TV won a Peabody Award for a series of reports that included this quote :

“a remarkable number of Texans committed suicide because they could no longer endure the pain caused by their injuries and they had been repeatedly turned down for worker’s comp care.”

AIG Crime 2 of 4

AIG underreported premiums on Workers Comp policies allowing it to shortchange state insurance pools by making lower contributions

“A federal judge has approved American International Group Inc's (AIG.N) $450 million settlement with rival insurers to end litigation accusing AIG of underreporting premiums on workers' compensation policies. AIG will make the payment after rivals accused it of understating its market share in workers compensation to state insurance regulators, allowing it to shortchange state insurance pools by making lower contributions. Rivals claimed the understatements dated back to the 1980s.”

AIG Crime 3 of 4

Here’s another AIG Non Prosecution Agreement as seen in quotes from :

“In a non-prosecution agreement with DOJ and a settlement with SEC, AIG pays $126 million”

• “Fine: $80 million”

• “Disgorgement/interest: $46 million”

“Transaction with PNC takes losing assets off of PNC’s balance
sheet without transferring risk, allowing PNC to avoid charges
to its reported earnings”

(end of quotes)

AIG Crime 4 of 4

AIG and Prudential Share Fraud Agreements

Here are quotes from an article seen at Risk.Net :

“The US Securities and Exchange Commission (SEC) has reached a $12.2 million settlement with reinsurance firm General Re over charges of involvement with accounting frauds at insurers American International Group (AIG) and Prudential Financial.
Separately, the Department of Justice has announced that Gen Re has agreed to pay a $19.5 million settlement to the US Postal Inspection Service Consumer Fraud Fund as part of a non-prosecution agreement in connection with a related criminal investigation into Gen Re’s transactions with AIG.

The SEC accused Gen Re of involvement in separate schemes by bailed-out insurance giant AIG and New Jersey-based insurer Prudential, saying it helped them to “manipulate and falsify their reported financial results”.

“Gen Re arranged to sell financial products to AIG and Prudential for the sole purpose of enabling those companies to manipulate their accounting results and to mislead investors,” said Andrew Calamari, associate director of the SEC’s New York regional office.

Gen Re is a subsidiary of billionaire Warren Buffet’s Berkshire Hathaway conglomerate. The SEC has previously charged AIG with securities fraud and improper accounting, which AIG settled in February 2006 by paying more than $800 million.

The SEC complaint against Gen Re, filed in the US District Court for the Southern District of New York, claims senior managers at Gen Re helped AIG structure two fake reinsurance transactions between AIG and a Gen Re subsidiary in 2000, and allowed AIG to improperly reverse its declining reserve trend and falsely report additions to both loss reserves and premiums written.

Separate transactions between Gen Re and Prudential Financial allowed Prudential to improperly recognize more than $200 million in revenues between 2000 and 2002. The SEC says Gen Re entered into a series of sham reinsurance contracts with Prudential’s property and casualty division between 1997 and 2002.

“The contracts had no economic substance and purpose other than to allow Prudential to build up and then draw down on an off-balance sheet asset or 'finite bank' parked with Gen Re,” says the SEC.”

(end of quotes)

No one was prosecuted !!

Here’s Prudential Again !!

Prudential $600 Million in Securities Fraud Fines

As seen in the chart on page two of the following website :

Prudential’s Settlement Total on (8/06) was $600 million

Criminal Fine portion $325 million For Securities Fraud

Prudential Commits Identical Crimes With More Corporations !!

Prudential Insurance, Unum Insurance, and MetLife also committed identical bid rigging violations regarding health care plans, They all received multiple Non Prosecution agreements from multiple government agencies !!!!!

The District Attorney press release about these three companies can be seen at :

Court documents, letters and emails prove I have given Obama’s DOJ and DOL Directors overwhelming evidence that proves MetLife continues to ignore medical conditions and endanger lives when patients file claims on the policies that MetLife rigged bids to sell !!

The evidence you’ve just seen is part of many more patterns of life threatening crimes that are posted at :
Barry Schmittou