Home Owners Across the Nation Sue All Bank Servicers and Their Offshore Havens; Spire Law Officially

Home Owners Across the Nation Sue All Bank Servicers and Their Offshore Havens; Spire Law Officially Announces Filing of Landmark Lawsuit

www.marketwatch.com

NEW YORK, NY, Apr 23, 2012 (MARKETWIRE via COMTEX) -- In a lawsuit alleged to involve the largest money laundering network in United States history, Spire Law Group, LLP -- on behalf of home owners across the Country -- has filed a mass tort action in the Supreme Court of New York, County of Kings. Home owners across the country have sued every major bank servicer and their subsidiaries -- formed in countries known as havens for money laundering such as the Cayman Islands, the Isle of Man, Luxembourg and Malaysia -- alleging that while the Obama Administration was publicly encouraging loan mod

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I know here on ATS there have been many stories about how mortgage companies strung people along; illegally foreclosed on; loans illegally sold and so on and on.

Here at ATS we are the ones who speculate, "how far down does the rabbit hole go" and this site is a great resource. As a person who works on foreclosures I have an inside view of the back-end of the mortgage crisis. This lawsuit will lift the veil on the banks corrupt business practices as the banksters FED drives the American economy into the ground with crony capitalism. This is the only comprehensive lawsuit that I have seen that is making the banksters accountable for the "systemic fraud" of the system they built and manipulated for profit. and The quotes in Slire Law's press release kinda sums up my thoughts on the matter;

""The laundering of trillions of dollars of U.S. taxpayer money -- and the wrongful taking of the homes of those taxpayers -- was known by the Administration and expressly supported by it. Evidence uncovered by the plaintiffs revealed that the Administration ignored its own agencies' reports -- and reports from the Department of Homeland Security -- about this situation, dating as far back as 2010. Worse, the Administration purported to endorse a 'national bank settlement' without disclosing or having any public discourse whatsoever about the thousands of foreign tax havens now wholly owned by our nation's banks. Fortunately, no home owner is bound to enter into this fraudulent bank settlement," stated Eric J. Wittenberg of Columbus, Ohio -- a noted trial lawyer, author and student of US history -- on behalf of plaintiffs in the case. "

and this

"Commenting further on the case, Mr. Wittenberg stated: "As if it is not bad enough that banks collect money and do not credit it to homeowners' accounts, and as if it is not bad enough that those banks then foreclose when they know they do not have a legally enforceable interest in the realty, we now learn that they have been operating under unbridled free reign given by the Administration and some states' Attorneys General in formulating this international money laundering network. Now that the light of day has been shined on it, I believe we can all rest assured that the beginning of the end of the bank crisis has arrived."

Spire Law Group, LLP is a national law firm whose motto is "the public should be protected -- at all costs -- from corruption in whatever form it presents itself." The Firm is comprised of lawyers nationally with more than 250-years of experience in a span of matters ranging from representing large corporations and wealthy individuals, to also representing the masses. The Firm is at the front lines litigating against government officials, banks, defunct loan pools, and now the very offshore entities where the corruption was enabled and perpetrated.




Contact:
James N. Fiedler, Esq.
Managing Partner
Spire Law Group, LLP
877-475-2448


www.marketwatch.com
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This will be extremely interesting to follow.

The cynic in me believes that the Supreme court is probably part of the racket or at least hob-nobs with those involved, making any real prosecution possible.

However, if nothing else, the fact that concrete legal action is being taken against the financial institutions who have committed, in many cases very well documented, outrageous fraud can only mean to more light being shed on this brazen criminal activity.

Thanks for posting!

the Billmeister

I hate to be the one to point this out, but this is the sort of thing Wilcock and the mysterious Drake were talking about. They said something about 18 semi-trailer trucks of evidence. (Presumably it's not actually kept in the trucks.)

Anyway, I just thought I'd point out that they may actually be more knowledgeable than some have been able to admit. In any case it's great news.

ETA: The cynic in me has to agree with Billmeister. It may or may not be pointless to depend upon our supreme courts--or any courts--to do anything about all this. We won't know how deeply they themselves are mired in this corruption until we see how they handle this and the Keenan lawsuits....

didnt know those 4 countries listed were 'havens' for money laundering too (in addition the fed reserve banks=)

interesting, is this like a class action? and is there a list of mortgage servicing companies etc involved so we know if we are affected/involved or not?

reply to post by BiggerPicture


Not clear whether this is a public class-action from the article, but it does state:

All United States home owners may have the right to bring a lawsuit of this kind if they paid money to a national bank servicer during the years 2003 through 2009.

Which is another reason why I believe this case may have "too broad of a brush" to be effective, but then again, I really believe this is a step in the right direction!

the Billmeister

Originally posted by Ex_CT2
I hate to be the one to point this out, but this is the sort of thing Wilcock and the mysterious Drake were talking about. They said something about 18 semi-trailer trucks of evidence. (Presumably it's not actually kept in the trucks.)

Anyway, I just thought I'd point out that they may actually be more knowledgeable than some have been able to admit. In any case it's great news.

ETA: The cynic in me has to agree with Billmeister. It may or may not be pointless to depend upon our supreme courts--or any courts--to do anything about all this. We won't know how deeply they themselves are mired in this corruption until we see how they handle this and the Keenan lawsuits....

edit on 4/30/2012 by Ex_CT2 because: (no reason given)

I would have thought that since the press release is from last week that Wilcox and others people would have also come out and announce in conjunction with the Spire Law and I have not seen a specific announcement.

I don't think this is the lawsuit that Wilcox is speaking of.

I do not know if this is a class action suit or not. I am like the rest of the posters. I have hope but I know the corruption of man know no ends.

I hope they don't try to claw back the money I was paid for securing, cleaning and doing maintenance on foreclosed properties.

Wow. That's some rabbit hole! So what would be a reliable way to find out if a homeowner should become involved in this lawsuit? How can we tell if we are victims of this fraud? Or is it everyone who has had their mortgage serviced by the banks named here?

One name that might sit at the top that caused all this. Roland Arnall

Saw it first hand.

I also would really like to see a list of the servicers. I'm in a fight for my home now. The title is so screwed it is unreal.

The current "investor" has no assignment but has filed a "lost assignment affidavit". I can't believe that the courts just say OK to these things. Anyone could file a "lost assignment" whether there was actually an assignment or not.

I have a lawyer working on it and I've forwarded the article to her as well.

Originally posted by TXTriker
I also would really like to see a list of the servicers. I'm in a fight for my home now. The title is so screwed it is unreal.

The current "investor" has no assignment but has filed a "lost assignment affidavit". I can't believe that the courts just say OK to these things. Anyone could file a "lost assignment" whether there was actually an assignment or not.

I have a lawyer working on it and I've forwarded the article to her as well.

edit on 4/30/2012 by TXTriker because: fat fingers

I would imagine that any "lost assignment" would have to include the time and dates the trust were "originally"set up. If these dates are after the date that the foreclosure started then it is an obvious fraudlent document and the securitization of the deed was never lost but never created. The bank or servicer would be lying to the court because without the securtized deed they can never legally hold title. the deed is supposed to be put into a trust as soon as loan is closed then the house is put into a CDO or some other mortgage financial instrument....

when you buy a house you actually creat 2 distinct financial documents ... a promisory note and a securtized deed ......

Originally posted by Urantia1111
Wow. That's some rabbit hole! So what would be a reliable way to find out if a homeowner should become involved in this lawsuit? How can we tell if we are victims of this fraud? Or is it everyone who has had their mortgage serviced by the banks named here?

I would either call them or email them with info and questions. I see they also are working with other attorneys in a coordinated fashion across the country. They might have an affiliate lawyer cloase to you.

reply to post by TXTriker


I caught the first news of this on Friday- I sent it to my attorney too. Like you, I'm in a fight with the bank and servicer. I'll let you know what I hear- let me know if you get any interesting news?

reply to post by fnpmitchreturns


Best news I've heard in a long time.

No doubt had those "guys" mentioned by someone earlier known about this coming, they would have "claimed it" and announced it so that they could take credit for it. They didn't. They didn't know. Help them get over themselves by getting over it. (All said here is my opinion. Those guys lie big time to get you to quiet down and to attract attention to themselves. The bigger the lie, the more likely you'll believe it -- golden streets, boogeymen, aliens, 6 million jews killed in an area where there weren't nearly that many, etc)

But back to the good news. Hope it works out for the firm. I just wonder why the banks didn't buy these guys off? Hmm. Maybe it doesn't matter for some reason at this point...that's all I'll say. Keeping my stupid speculation to myself.

reply to post by fnpmitchreturns


thank you for the good news,

i have been following the aterny generals settlement with the banks,
as of yet there are zero staff working on behalf of the home owners to prosicute the settlements

i kind of think if there is no staff how can they clean up this mess,
makes the whole thing look like a fraud from start to finish.

it looks like if you want something done you got to do it yourself
because so far zero criminal convictions coming from the govenment for these crimes.

the banks are not above the law, they7 are being shielded from it from up high.

this action is the sort of thing people have to do when the authorites do nothing,
or in this case promise to do something and then "forget to staff the investigating office"

ever wounder how 50 FBI agents can work on the KIM DOT COM case while 0 work on housing fraud,

and dont get me started on robosigning fake documents and presenting them in court,
if you wernt a bank and did this you would go to jail,
WHY CAN THE BANKS PRESENT FRAUDULENT DOCUMENTS AND NOT GO TO JAIL?

and MERS
Morgage Electronic Registary service
set up to avoid paying state and county fees from transfer of tittle,

also means that the set up from word go was fraudulent.

xploder

I'm pretty sure that off shore accounts are legal. I'm doubting that this law suit will get very far. What exactly is the claim of the home owners in regards to the off shore accounts? How do they claim they are illegal?

reply to post by FlyersFan


If I understand the article correctly, it is claimed that the financial institutions involved accepted mortgage payments, did NOT apply them to the mortgage in question, but rather shipped the money to affiliated companies for them to hide in off-shore accounts.

So, it is not the fact that the off-shore accounts exist which are being questioned (though that is probably a very relevant debate on its own account), but the apparent systemic theft and fraud allegedly perpetrated by these institutions.

As I stated above, it seems to me that this case is perhaps too broad and seems imply too many actors at too many levels to be effective, but I am by no means a legal expert!

The root of the problem always seems to be the need for actual LIQUIDITY. In the world of stock market transactions and debt-created loans all completed by a few clicks of a computer mouse, the reality is, at some point, you need actual "cold-hard" cash in the vault.

The financial debacle, caused massive amounts of "on the books" money (i.e. not "real") to disappear by almost exponential factors which led to these institutions doing anything they could to get their hands on actual cash to keep their operations afloat.

This includes laundering drug money (see Wachovia), threatening governments and citizens that martial law would occur (see Paulson and TARP) and outright theft (see MF Global... and maybe this case) so the potential for prosecution is definitely there.

All that said, history has shown us that justice is relative, and that, even facing concrete evidence and often admissions of guilt, the penalty is usually a fine which equates to a minute amount compared to the profits generated.

Very much akin to penalizing the bank robber, who stole $1 million dollars nothing more that a $100 dollar fine... not much of a deterrent, in fact robbing banks would become a viable business model... oh wait, I think that is exactly what has happened with these financial institutions!

the Billmeister

reply to post by FlyersFan


There are multiple offences that break the patriot act, a little reading wouldn't hurt and it is quite interesting, it seems they do have standing.

Originally posted by Ex_CT2
I hate to be the one to point this out, but this is the sort of thing Wilcock and the mysterious Drake were talking about. They said something about 18 semi-trailer trucks of evidence. (Presumably it's not actually kept in the trucks.)

Anyway, I just thought I'd point out that they may actually be more knowledgeable than some have been able to admit. In any case it's great news.

ETA: The cynic in me has to agree with Billmeister. It may or may not be pointless to depend upon our supreme courts--or any courts--to do anything about all this. We won't know how deeply they themselves are mired in this corruption until we see how they handle this and the Keenan lawsuits....

edit on 4/30/2012 by Ex_CT2 because: (no reason given)

yes,I immediately thought of Drake. There are things like this happening that appear to be related.
Encouraging!
P.S. my thought about the Supreme Court: when faced with overwhelming evidence and public scrutiny it may serve them best to "sacrifice" the banksters to keep the light off of themselves. Become the heros instead of the accomplices perhaps