Screenshot 2019-07-15 at 9.23.29 AM - Edited

 

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Truth (Moldova) , July 18, 2019 11:00
Deputy Speaker of Parliament Mihai Popsooi said that the American partners assured the new government in Chisinau that if Vlad Plahotniuc is in US territory and there will be an arrest warrant and evidence of his involvement in the theft of the bill he will be extradited to the Republic Moldova to be judged

 

 

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Rome, April 5 – Rome prosecutors requested the shelving of a probe into ex-premier Silvio Berlusconi on alleged sentence-rigging at the Council of State, Italy’s highest administrative court.
Last month the three-time former premier and media magnate was placed under investigation for alleged corruption in legal procedures.
The case concerns a ruling on March 3, 2016, by the Council of State, Italy’s top administrative court, that annulled the obligation for the ex-premier’s holding company to sell a stake held in financial services group Mediolanum.
Berlusconi’s lawyer Niccolo Ghedini told media outlets that he was sure the case would be dropped.

[June 3 2018 Forgive $296 billion of Italian debt? ]
giovanni-tria

Arguing it is “time to abandon many taboos” on the euro, newly-appointed finance minister Giovanni Tria said it is now necessary to find “alternative solutions” to how the eurozone is being regulated.berlusconi18 5

German Chancellor Angela Merkel said while cohesion among members of the single currency bloc was important, “solidarity among euro partners should never lead to a debt union, rather it must be about helping others to help themselves.”

The Chancellor made the remarks when asked about a media report that Italy’s anti-establishment 5-Star Movement and far-right League had planned to ask the European Central Bank to forgive 250 billion euros ($296 billion) of Italian debt.

[May 29 Cottarelli gets Berlusconi backing ]

Former Italian Premier Silvio Berlusconi says he’s open to running for office in Italy’s next parliamentary election as part of the same center-right bloc that won 37 percent of the vote March 4. “I cannot believe I am writing these words, but faced with the alternatives, Berlusconi might not so bad after all.” Esme O’Keeffe

Rome, May 28 – League leader Matteo Salvini that the centre-right coalition will collapse if Silvio Berlusconi’s Forza Italia backs an interim government led by former spending review chief Carlo Cottarelli [Carlo Cottarelli, a former official at the International Monetary Fund].

[ May 13  Berlusconi rehabilitated, may run   ]

pascale berlusconi

Pascale looks on

Berlusconi may run for office.   The ban on the former prime minister seeking or holding public office was due to expire next year but the tribunal ruled that he already had been “rehabilitated”.

[ March 5 2018  Salvini not Berlusconi to lead?   ]

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Salvini and Berlusconi – heading for almost 18 percent and 14 percent respectively – appeared to have dominated the wealthier north, with the center-left squeezed into a narrow stretch of central Italy. The League emerged as the senior partner. The role reversal marks a bitter personal defeat for the billionaire media magnate.

[November 12 2017 Berlusconi: “It’s time to put Italy first again” ]

Screenshot 2017-11-12 at 1.34.30 PM - Edited

Silvio Berlusconi, an 81-year-old, arrived at his political homecoming party on the posh island of Ischia last month aboard a fancy yacht alongside his 30-year-old live-in girlfriend Francesca Pascale and his closest advisors. The Sicilian election held on Nov. 5 marked a strong political comeback for Silvio Berlusconi, handing government of the island to a center-right bloc backed by the four-times prime minister. Berlusconi brought his Forza Italia party to a somewhat astonishing victory in regional elections in Sicily when his candidates outperformed expectations on a platform for change which, for the longest-serving elected prime minister in modern Italian history, is a curious promise. But he also embraced an anti-immigration stance promising that Italy would no longer be the welcome mat for migrants. He promised his party would cut taxes and renegotiate some key trade deals, which, as a businessman only he has the smarts and the power to do. “It’s time to put Italy first again,”

[February 28 2016 Silvio Berlusconi and 21-year old Roman Lavinia Palombini and a furious Francesca Pascale ]

berlusconi-pascale-divino-amore_zpsisjdtehy

[June 21 $6.3 billion from Italy shipped to China for sneakers ]

[

More than 4.5 billion euros ($6.3 billion) in proceeds from counterfeiting, prostitution, labour exploitation and tax evasion had been sent to China in less than four years though a money-transfer service called Money2Money. Close to half the €4.5bn, transferred between 2007 and 2010, went through Bank of China branch in Milan. The Bank of China received €758,000 in commission for the transfers. The bank had an exclusive contract with Money2Money. Investigators said they got nowhere when they tried to appeal to Chinese authorities for help. Once the money left Italy, it vanished behind China’s great legal firewall. The case is now stalled in Italian courts, as prosecutors try to notify nearly 300 hard-to-find defendants, most of them Chinese. Prosecutors in Florence have filed a 170-page document to be reviewed by a judge, who will decide whether to file formal charges.
Money laundered through Money2Money was used to buy counterfeit goods in China, which were then smuggled back to Europe, a large import-export firm called the Wenzhou Cereals Oils and Foodstuffs Foreign Trade Corporation, sent tens of thousands of fake Converse sneakers to the United States and Croatia is suspected.

[March 12 Silvio Berlusconi’s acquittal in “bunga bunga” final – Francesca thumbs up]

Signorina Pascale

The President of the  current session of the Court of Cassation Antonio Esposito reads the judgment

The President of the current session of the Court of Cassation Antonio Esposito reads the judgment

The Rome court Corte Suprema di Cassazione, in a ruling that is now definitive, rejected an appeal by Milan prosecutors to overturn the acquittal and to hold a new trial. It upheld Silvio Berlusconi’s acquittal in his infamous “bunga bunga” case.

[February 12 Berlusconi raises 392 million euros ($447 million)]

– Fininvest, the holding company controlled by the family of former Italian Prime Minister Silvio Berlusconi ,78 years (September 29, 1936), said February 12 it will sell a 7.8% stake in broadcaster Mediaset SpA.. The firm controls a 30% stake in bank Mediolanum , a 50% stake in publishing firm Mondadori and will continue to be the largest investor in Mediaset, with a 33.4% stake. It also controls soccer team A.C. Milan and other activities. But both Mediaset and Mondadori have been struggling with their finances.
The stake is worth 392 million euros ($447 million) at February 12’s closing price. Fininvest said the profits from the sale could also contribute to “investments aimed at portfolio diversification.” In 2005 the company had cut its stake in Mediaset to 34.3 percent from 51 percent.

[February 6 Berlusconi good behavior allows a higher-profile role]

The friends of Gianpaolo Tarantini

The friends of Gianpaolo Tarantini

Silvio Berlusconi will not have to serve the final 45 days of a one-year community service on good behaviour grounds. Berlusconi will also regain his freedom of movement, which was restricted under the order, enabling him to resume a higher-profile role in national politics, despite still being banned from public office.
In a trial in Bari this week, businessman Gianpaolo Tarantini and six other people are charged with having promoted prostitution because, between 2008 and 2009, they organised for 26 different young women to attend parties in various Berlusconi residences.
To a certain extent, this trial involves a replay of the infamous Rubygate trial which in June 2013 found Mr Berlusconi guilty of “abuse of office” and having underage sex with Karim “Ruby” El Mahroug, then aged 17.

That judgment was later overturned by a January 2014 appeal court ruling which acquitted the media tycoon.
At issue then and now is the exact nature of Mr Berlusconi’s parties. Were they, as his defence always claimed, “elegant dinner parties” or were they, as various participants have reported, “bunga, bunga” nights of multiple sexual encounters?

[January 31 Berlusconi’s Forza Italia party in disarray]
former shop assistant

Silvio Berlusconi’s Forza Italia party appeared in disarray after the vote for President on January 31, a political victory for Prime Minister Matteo Renzi.. Berlusconi ordered his party to cast blank ballots after accusing Renzi of betraying what he said was a promise to give him a role in choosing the candidate. Instead, more than 30 refused, opening a wound in the party.

[December 31 Passion spent: Francesca Pascale, in Madrid, to study languages, Berlusconi in Arcore]
All is not well between the media mogul and Francesca Pascale, a former shop assistant and member of the Berlusconi fan club.The couple spent Christmas apart, with Mr Berlusconi at his principal home, Villa San Martino in Arcore. Ms Pascale, meanwhile, was settling into her a new apartment in Madrid, where she hopes to study languages. His legal travails continue as he faces charges of inducing a pimp to commit perjury and of bribing a senator to swap sides in parliament, which he denies.
[September 24 Berlusconi redux, tax case appeal granted]

The Prime Minister met with predecessor Silvio Berlusconi

The Prime Minister met with predecessor Silvio Berlusconi

The European Court of Human Rights has agreed to hear an appeal by former Italian Prime Minister Silvio Berlusconi against his conviction for tax fraud in August 2013, to examine Berlusconi’s argument that he had been denied a fair trial in the case. A date had been set for the appeal to begin.

[August 6]
Rome, August 6 – Former premier Silvio Berlusconi met August 6 with Premier Matteo Renzi to discuss reforms to Italy’s discredited electoral law, now being debated in parliament. The session in the premier’s office marked the third such meeting between Berlusconi, head of the center-right Forza Italia (FI) political party, and Renzi, who leads the center-left Democratic Party (PD).
The Prime Minister met with predecessor Silvio Berlusconi August 6 in a bid to rally parliamentary support for his reform bill, which was presented with nearly 8000 amendments on its first day in parliament.

“Italy never got out of the recession. If you look at the figures it has stagnated for years,”.

[July 18 Ruby case overturned: Silvio Berlusconi sentence can be restored on appeal]

A Milan appeals court overturned a conviction of former Italian Prime Minister Silvio Berlusconi of paying for sex with an underage girl and then abusing his power in trying to cover it up. Italian prosecutors can appeal the July 18 decision to Italy’s highest appeals court. The final decision by the country’s highest appeals court isn’t likely to come before next year.
Mr. Berlusconi—who was then prime minister—phoned a Milan police station asking for information about a Moroccan woman, Karima El Mahroug, an underage nightclub dancer nicknamed Ruby Heart-Stealer, who had been detained for allegedly stealing cash. Ms. El Mahroug has always denied the allegations

The billionaire politician was sentenced to seven years in prison as a result of the guilty verdict last year. Mr. Berlusconi, who was also banned from public office and ousted from Italy’s Senate as a result of the tax fraud conviction, has always denied the charges in the sex case, which dates back to May 2010.

Prosecutors alleged that Mr. Berlusconi pressed the police to release the woman, thus constituting abuse of power. They also argue that Mr. Berlusconi sought to have her released to cover up the fact that he had paid her for sex when she was 17. Berlusconi claims that he never had sex with her and that, anyway, she told him she was twenty-four. He admits that he gave her thousands of euros at the end of her first evening at Arcore, and tens of thousands more later, but insists that these were innocent acts of generosity. He instructed the police to release her from custody, he says, because he thought that she was a niece of the former Egyptian President Hosni Mubarak, and he wanted to avoid straining diplomatic relations. (Mahroug, who was born in Morocco and grew up in Sicily, is not related to Mubarak.)

http://www.newyorker.com/reporting/2011/06/06/110606fa_fact_levy?currentPage=all
http://online.wsj.com/articles/silvio-berlusconi-underage-sex-conviction-overturned-1405682830

[June 13]

Arriving at   Fiumicino airport in Rome, former senator of Forza Italy was assigned to the medical facility inside the prison

Arriving at Fiumicino airport in Rome, former senator of Forza Italy was assigned to the medical facility inside the prison

Marcello Dell’Utri was arrested last month on an Interpol warrant in Beirut

Marcello Dell’Utri was arrested last month on an Interpol warrant in Beirut

Marcello Dell’Utri, 72, landed at Rome’s Fiumicino airport on June 13 accompanied by Interpol officials and was handed over to the Italian police, airport authorities said.

An Italian court has sentenced Dell’Utri, who comes from Sicily, to seven years in jail for acting as a go-between for the mafia and the Milan business elite, including Berlusconi’s companies, from 1974 to 1992.
Lebanon extradited Dell’Utri to Italy on June 13 who fled to Beirut in April just before being found guilty of dealings with the Sicilian mafia.

Shares in Berlusconi’s Mediaset rose 3.5 percent on June 12 after reports that Telefonica (Madrid: TEF.MC – news) would make an offer to buy the Italian broadcaster’s stake in Spanish pay-TV group Digital Plus.
[May 13]
Supreme Court of Cassation in Rome has confirmed the sentence imposed on 72-year-old Marcello Dell’Utri by Palermo’s Court of Appeal in March last year.
The longtime ally of ex-premier Silvio Berlusconi is facing extradition to Italy after his arrest last month on an Interpol warrant in Beirut for allegedly fleeing a likely conviction from the supreme court for Mafia association.
“In the period of time we’re talking about a continuous crime,” said prosecutor Aurelio Galasso. Silvio Berlusconi – Italy’s former Prime Minister and one of the world’s most recognisable politicians – did business with the mafia for nearly two decades via his conduit and former senator Marcello Dell’Utri. Judges sentenced Dell’Utri to seven years for mafia association. Three-time premier Berlusconi, 77, has always denied rumours that mob links were behind the large and opaquely sourced investments used to kickstart his construction and media businesses in the 1970s and 1980s. But Supreme Court judges accepted prosecutor Aurelio Galasso’s claim that “for 18 years, from 1974 to 1992, Marcello Dell’Utri was the guarantor of the agreement between Berlusconi and Cosa Nostra”.

[April 15]

Former Prime Minister and current friend Francesca Pascale

In the first sentence against him ever confirmed by Italy’s highest court, former Premier Silvio Berlusconi must spend at least four hours a week in the service of the elderly to repay society for his tax fraud convictionBerlusconi was sentenced to four years for tax fraud, reduced to one year for a general amnesty. The one-year community service order may eventually be reduced by 45 days.

The state prosecutor supported the petition for community service, but asked the court to consider revoking it if Berlusconi insults judges while serving — something he has frequently done as he has fought numerous prosecutions over the years, mostly related to his business dealings.

The media mogul is on trial for political corruption in Naples and under investigation in Milan for witness tampering in trials relating to sex-fueled parties at his villa near Milan. His appeals trial for a conviction for having paid for sex with a minor and using his influence to cover it up is scheduled to open in June. He was sentenced to seven years in jail and given a lifetime political ban, but that has yet to be confirmed.

[December 4 2013]

Marcello Dell'Utri was the

Marcello Dell’Utri was the ” contract broker” of an agreement between Cosa Nostra and Silvio Berlusconi,

Italian Finance Minister Fabrizio Saccomanni says the sidelining of the longtime conservative leader leaves the government led by Prime Minister Enrico Letta “more cohesive and…more determined in the implementation of our program.”
.

Mr. Berlusconi—whose threats earlier this fall to bring down the Letta government made it exceedingly hard for the young coalition to govern—was stripped of his Senate seat because of a conviction for tax fraud.
.

Mr. Letta is under intense pressure to step up the pace of reforms aimed at freeing up Italy’s sclerotic economy.
.

The premier is hoping the government will survive until 2015, giving it time to cut taxes, ease labor laws and lower unemployment.
.

Mr. Saccomanni said Italy’s economy is slowly on the mend after what he described as a “deep depression.” The Italian economy has contracted for nine quarters in a row, and the government expects little more than anemic growth next year.
.

With a stronger majority in Parliament, the government should “operate with a more medium-term perspective than the one we have been obliged to have until now,” .

After months in which the Letta government teetered on the brink of collapse, European policy makers have publicly fretted over the ability of Rome to enact serious overhauls and keep its debt—currently more than 130% of gross domestic product—under control. Some regard chronic instability in Italy, the euro one’s third-largest economy, as the major threat to the currency bloc.

EU Economic and Monetary Affairs Commissioner Olli Rehn said that Italy has “no margins [to] maneuver.” He also expressed skepticism as to whether Mr. Letta’s government would manage, for instance, to achieve its ambitious privatization program.

[November 5]

Italian Senators will vote on November 27 on whether to expel center-right leader Silvio Berlusconi from parliament following his conviction for tax fraud, officials from the main parties said on Tuesday.

[October 23]
Italian ex-PM Silvio Berlusconi has been ordered to stand trial for the alleged bribery of a senator.
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Berlusconi is accused of paying the left-wing senator 3m euros ($3.9m) to defect to his party in 2006 and help bring down the government.

The senator, Sergio De Gregorio, was sentenced to 20 months on October 23 at a plea bargain hearing in Naples.

[October 19]

The Court of Appeal of Milan ruled on October 19 that former Italian Prime Minister Silvio Berlusconi should be barred from holding public office for two years following a conviction for tax fraud.

However, since Berlusconi is a senator, the court’s decision will have no immediate effect and his expulsion from the Senate will depend on a separate vote in the upper house of parliament, expected to take place next month.

Bulgarian actress, producer and director Michelle Bonev has described her nights at his Arcore home. “This is how it works. At the end of the party, each girl has a request to make to him because she came to get something – a part in a film, a python handbag, a… to pay the rent, the electricity, the gas. He would stay in the room. We all went out and sat on the sofas. Then he would listen to what we wanted, one by one like the godfather”

The appellate court was ordered by Italy’s highest court to determine the length of the political ban accompanying his tax fraud conviction and four-year jail term after prosecutors conceded sentencing errors in the original five-year ban.

[October 3]

Prime minister Enrico Letta, the centre-left leader of the government won the Italian senate confidence vote with a sweeping majority. Only 70 of 305 MPs voted against; 235 MPs voted for. Berlusconi – the man who triggered the crisis and spent days clamouring for the government’s downfall – was one of them. Berlusconi been forced into a humiliating climbdown by a rebel faction of his own MPs, 32 senators voting with their leader, 24 absenting themselves, and 25 against him. He is scheduled for expulsion from the senate and the enforcement of his commuted one-year sentence, at the moment.
[September 29]
“In the end it’s all up to the PDL, I think there’s a deep debate taking place within the PDL.” Italian Prime Minister Enrico Letta
20 senators of Berlusconi’s People of Liberty, or PDL, are ready to form a breakaway group if the ex-premier doesn’t back down on his confrontation with Letta, perhaps. Letta needs 24 votes in the Senate to secure a new majority without Berlusconi. To do so, the 47-year-old premier must win over opposition lawmakers or convince members of Berlusconi’s People of Liberty party to abandon their leader.
[September 23]
Silvio Berlusconi was forced from office at the height of the euro zone debt crisis in November 2011. 54th Prime Minister of Italy Mario Monti ‘s efforts to deregulate services and labor laws were squashed by the parties that propped up his government before Italians gave him a resounding thumbs down at an election in February 2013 which produced no clear winner.

The resulting left-right coalition government led by Enrico Letta has bickered from the moment it took office and prospects for both growth and the debt have continued to worsen.

The economy shrinking 1.7 percent this year, down from a 1.3 percent contraction forecast in April, and it cut 2014 growth to 1.0 percent from 1.3 percent. Most analysts see growth of 0.7 percent at best next year.

Italy’s political situation has made no more progress than its economy, dimming prospects for the reforms needed to turn things around.

Italy’s medium term growth potential is now close to zero due to its failure to reduce costs and bureaucracy, tackle corruption or reform the justice system.
Since the days of the deepest crisis (in 2011) Italy has done nothing to improve its competitiveness, As a result its prospects for sustained debt reduction are non-existent.

Letta cuts a far more sober and reassuring figure than Berlusconi, but his ruling coalition is just as unruly and is deeply divided on economic policy.

Speculation has risen that there will be a new election in spring and on September 22 Economy Minister Fabrizio Saccomanni threatened to resign as the government squabbled over whether to suspend a hike in sales tax due to take effect in October.

[September 17]

Fininvest, The family holding company of former Italian prime minister Silvio Berlusconi was ordered on Tuesday to pay 494 million euros in damages stemming from the disputed purchase of publisher Mondadori.
The final ruling by Italy’s top appeals court was a fresh blow to Berlusconi, 76, already reeling from a supreme court verdict which confirmed a four-year jail sentence last month, commuted to one year, for massive fraud at his Mediaset television empire.

[september 7]

Marcello Dell'Utri was the

Marcello Dell’Utri was the ” contract broker” of an agreement between Cosa Nostra and Silvio Berlusconi,

The judges of the Third Criminal Chamber of the Court of Appeal of Palermo in the written judgment in which the former senator of the PDL was sentenced on March 25 to seven years in prison for collusion with the Mafia. The Court has also found payments solicited by the Mafia to Berlusconi “as the price of protection,” and that according to the judges began in 1974, with a request for 100. million lire

Disgraced ex-premier Silvio Berlusconi made a 20-year pact with Mafia bosses to whom he paid millions of euros in exchange for protection and help with his business empire, according to a judicial report.

The tycoon’s deal with the mob was described by judges of the Palermo Appeals Court as part of their 476-page reasoning, released on September 5, behind the jail sentence for his Mafia association given to Berlusconi’s close friend Marcello Dell’Utri.

The judges say that Dell’Utri, a Palermo-born former senator in Berlusconi’s PDL (People of Freedom) Party, was the mogul’s go-between with the Cosa Nostra for 20 years, up until 1992, the year in which the Mafia assassinated two prosecutors in bomb attacks.

[August 24]

How was the play, Mrs. Lincoln

How was the play, Mrs. Lincoln

But while the crisis is leaving the Letta government’s prospects dim, Berlusconi’s Mediaset seems to have shrugged off the news. The shares have been on a tear so far this year, nearly tripling in value from their all-time low of €1.16 ($1.52) set in December by the end of July (the Supreme Court ruling was Aug. 1). They’ve been mostly flat since then, but they have still outperformed the Italian Stock Exchange’s blue chip index over that period, closing trading Friday at €3.36 ($4.40). Several investment banks have upgraded Mediaset’s ratings in recent weeks, judging that the tycoon’s political and legal woes are likely to have limited impact on the company’s day-to-day operations.
[August 14]
“Any definitive sentence, and the subsequent requirement to apply it, must be accepted,” Italian President Giorgio Napolitano said August 13 in an e-mailed statement. “That goes for the case at the center of attention today as with every other one.”
Napolitano noted that Silvio Berlusconi would not be expected to go to jail. Because of his age, the billionaire businessman is likely to serve the sentence under house arrest or doing community service.
Five Star Movement Founder Beppe Grillo, head of the biggest opposition party in parliament, said Napolitano was too lenient with Berlusconi and called on the president to resign.

[August 6]

Berlusconi already has a successor lined up — his daughter Marina. Marina is Berlusconi’s oldest daughter from his first marriage and has always been her father’s favorite. Despite having dropped out of university, Marina was installed as the chief executive of her father’s media company at the tender age of 30, making her — according to Forbes — the most influential woman in Italy.
On Facebook and fansites, she presents herself as a friend of Silvio’s fiancée Francesca Pascale. Marina, who is approaching her 47th birthday, doesn’t seem to mind the age gap. Her father’s new belle is only 27. In recent days, Marina has been a part of all high-level party meetings, a noticeable change from the past. Indeed, Berlusconi used to be fond of saying that he didn’t want his daughter to have to suffer as he has. Now, according to various Italian media outlets, Berlusconi has confided in a select few that his daughter should stand in the upcoming election. Berlusconi-owned “Il Giornale” has also predicted that Marina would perhaps throw her hat into the ring in her father’s place. The affection between father and daughter is clearly mutual. Despite marrying a ballet dancer and having two children of her own, Silvio remains his daughter’s main man. She refuses to tolerate even the slightest criticism of him. And there are other similarities as well: Marina and Silvio both enjoy a good dye job and the occasional surgical intervention. She is the daughter of Silvio Berlusconi with his first wife Carla Elvira Lucia Dall’Oglio, and is the elder sister of the businessman Pier Silvio Berlusconi. She is married to Maurizio Vanadia.

Marina Berlusconi Vanadia, 47 year-old university dropout

[August 4]

On August 1 Berlusconi was ordered to serve four years in prison, a sentence that has been commuted to one year under a 2006 amnesty and will consist, due to his age, of detention under house arrest or community service rather than jail.

The five judges of the court of cassation ordered another part of the previous sentence – a ban on public office – to be re-evaluated by a lower court. “If there is not a reform of the justice system we are ready for elections,” he told his followers. “This alliance is now unsustainable. The PD should draw up an exit strategy,” Pippo Civati, a centre-left MP, was quoted as saying. “Let’s pass the electoral law, then go straight back to the polls.” Whatever the government’s fate, Mr. Berlusconi isn’t about to start serving his sentence or lose his seat. He has until mid-October to decide whether to serve the year’s sentence at home or perform some socially useful service. And Senate procedures to strip him of his post will likely take months.

[July 10]
The Court of Cassation has decided to schedule an appeal in the media mogul’s tax fraud trial for July 30, months earlier than expected. The high court said it moved up the date to prevent the statute of limitations from expiring on one of the charges on Aug. 1. A high court decision could see former Premier Silvio Berlusconi banned for years from public office.
Although Berlusconi isn’t in the government himself, steady support from his center-right People of Freedom party is necessary to keep Premier Enrico Letta’s 10-week-old government alive, since Letta’s center-left Democratic Party doesn’t have enough support in Parliament to control both houses.
[June 25]
On June 19, Italy’s Constitutional Court rejected a procedural challenge related to Berlusconi’s October conviction for tax fraud. The tax-fraud conviction, upheld on appeal last month, carries a four-year prison sentence and five-year ban from public office. The final appeal for that case, involving Berlusconi’s related to the acquisition by his media company Mediaset SpA of television and film rights almost a decade ago., is underway. Mediaset, Italy’s dominant private television broadcaster, bought U.S. film and television rights at inflated prices, allowing the company to fraudulently lower its tax bill. Mediaset itself wasn’t charged. Separately, Mr. Berlusconi has appealed his conviction and the four-year jail term handed down by the lower court. Both were upheld last month by an appeals court, but a standard second appeal is pending.
Berlusconi has, according to his own estimate, been the subject of some 2,500 court hearings. But, incredibly enough, the former prime minister has yet to serve a sentence:
• 1990: Berlusconi is found guilty of perjury for providing false testimony regarding his membership in Propaganda Due, a subversive and illegal Masonic lodge. Amnesty granted in 1989 saves him from actual sentencing.
• 1994: Berlusconi faces corruption charges over subsidiaries of his company Fininvest paying bribes totaling $240,000 to tax inspectors. In 1998, he is sentenced to 33 months in prison, which he never serves because the statute of limitations expires during an appeal.
• 1995: Berlusconi is found guilty of falsifying documents during Fininvest’s acquisition of the Medusa film company. In 2001 he is acquitted, and thus never serves a mandated 16-month prison sentence.
• 1998: In his second conviction in a week, Berlusconi is sentenced to 28 months in jail for using an offshore company to bribe former Italian Prime Minister Bettino Craxi. An appeals court throws out the charges a year later because the statute of limitations has expired.
• 2002: The Italian Parliament passes a bill allowing defendants to appeal for a change of venue if there is “legitimate suspicion” that the judge involved in a case is biased. Berlusconi uses the legislation to his advantage by dragging charges out past the statute of limitations (he will go on to evade false accounting charges through other laws passed by his government).
• 2013: An appeals court upholds charges of tax fraud against Berlusconi after he is initially sentenced to four years in prison and banned from public office for five years in 2012. Berlusconi is now appealing the verdict to Italy’s highest court, which has yet to issue a final verdict.

aka Ruby

aka Ruby

A Milan court on June 24 convicted former Italian Premier Silvio Berlusconi of paying for sex with an underage prostitute during infamous “bunga bunga” parties at his villa and then using his influence to try to cover it up.

Berlusconi, 76, was sentenced to seven years in prison and barred from public office for life — a sentence that could mean the end of his two-decade political career. However, there are two more levels of appeal before the sentence would become final, a process that can take months.

[October 14 2011]

Le Monde publishes excerpts from DSK explanation
Given the “lack of sufficient elements of proof” uncovered by the police, “an investigation into attempted rape cannot be undertaken,” the public prosecutors’ office said.
The leader of the UMP Jean-Francois Cope held Monday “pathetic and sad” the intervention of Dominique Strauss-Kahn yesterday on TF1, saying “shocked” hints at a possible conspiracy. 7sur7
The leader of majority party said he was “deeply” shocked by the assumption of a trap that could have been stretched to DSK. figaro
google translation

money-laundering-e1341852512165

 

NSA may have accessed the SWIFT network through service bureaus. SWIFT service bureaus are companies that provide an access point to the SWIFT system for the network’s smaller clients and may send or receive messages regarding money transfers on their behalf.

[March 10 OPL 245 oil block grant to Shell by Nigeria]

 

2035

Former oil minister

http://royaldutchshellplc.com/2017/03/10/shell-confirms-several-countries-investigating-opl-245-scandal/

 

[March 6.  Guy Colegate and John Copleston, MI6, JP Morgan money laundering]

Two payments of $400m each were wired through JP Morgan in London as the spoils of a huge deal to develop a Nigerian oilfield involving Shell, its joint venture partner the Italian oil giant Eni, and the government in Abuja. In allegations made by an Italian prosecutor
Fabio de Pasquale, whose previous scalps include former Italian leader Silvio Berlusconi. Charges involve the money from the sale of Nigeria’s Oil Prospecting Licence 245 (OPL 245), a huge block off the coast of west Africa estimated to contain 9.3bn barrels of crude: enough to power the continent for seven years. Shell and Eni eventually prevailed, paying $1.3bn to the Nigerian government to secure the field in 2011.

However, within days the bulk of the money was transferred through JP Morgan in London to a convicted Nigerian money launderer – a man with whom both Shell and Eni had been negotiating. Guy Colegate and John Copleston, were identified by De Pasquale in legal documents as having “previously worked for MI6”.

Copleston was a “strategic investment adviser” at Shell who, as the UK’s former intelligence representative in Nigeria, had nurtured contacts at the highest levels of the country’s military and government. Colegate worked as a “business adviser”, compiling regular intelligence briefings on the main actors in the OPL 245 negotiations

 

[January 21 Deutsche Bank’s $462m Italian connection]

rossi

David Rossi

 

 

 

David Rossi, 51, a communications director at Monte dei Paschi di Siena, fell three stories from the bank’s Italian headquarters in March 2013.Reuters
Two days prior to his death, according to his wife, Rossi sent a cryptic email to the bank’s CEO, Fabrizio Viola. “I want guarantees of not being overwhelmed by this thing,” he wrote. “We would have to do right away, before tomorrow. Can you help me?”It remains a mystery what specifically Rossi thought could “overwhelm” him just before his death, but many have speculated that he was referring to Monte Paschi’s troubled financial position.

Rossi was a close confidant of former bank president Joseph Mussari, who was the driving force behind Monte Paschi’s 2008 $7.5 billion takeover of Banca Antonveneta. Many banking analysts agreed at the time that Monte Paschi paid too much in the acquisition that Deutsche Bank
http://nypost.com/article/why-are-so-many-bankers-committing-suicide/

https://www.bloomberg.com/news/features/2017-01-19/how-deutsche-bank-made-367-million-disappear

[November 10 2016 Deutsche Bank’s  capital ratio boosted after Hua Xia sale ]

 Hua Xia Bank Ltd

Wang Yaoting’s employer Hua Xia

The European Central Bank said it had agreed to include Deutsche Bank’s sale of its stake in lender Hua Xia in stress test results earlier this year after Chinese authorities gave assurances the deal would be approved. The inclusion of the stake in the stress test calculations boosted Deutsche Bank’s common equity tier-one capital ratio, a closely watched measure of financial strength, in the adverse scenario modelled as part of the exercise, from 7.4 per cent to 7.8 per cent.

[June 2015 Deputy head of Hua Xia Bank Ltd part-owned by Germany’s Deutsche Bank, arrested
Shares in Hua Xia Bank Ltd , a Beijing-based lender part-owned by Germany’s Deutsche Bank, fell more than 6 percent on May 4 a day after the Chinese bank said a deputy head and vice president was under investigation for suspected disciplinary violations.
The Beijing branch of of the CPC Beijing Municipal Commission for Discipline inspection, the governing Communist Party’s anti-corruption body, has opened a case against Wang Yaoting, Huaxia Bank received the “CPC Beijing Municipal Commission for Discipline Inspection filing a written decision”, to initiate disciplinary action for the bank’s vice president Mr. Wang Yaoting who was taken away for the investigation,

Wang Yaoting was born in July 1963 , Ph.D., senior economist. Former people’s Bank China education department deputy director of the Department of materials; Huaxia Bank Securities and director of the securities business department general manager, assistant president and general manager of the business department, Hangzhou branch of Huaxia Bank, Huaxia Bank, party secretary, assistant president, vice president, Party committee of Huaxia Bank (director of the general manager, and information technology department from project development office). Since 2007, as vice president of the Party committee, Huaxia bank. Wang Yaoting 2014 annual salary of 2120,000 yuan [342,018 US Dollars].
Deutsche Bank’s subscription is part of a private placement of shares to its three largest shareholders In April 2011, holders with an overall issuance value of up to RMB 20.8 billion (approx. EUR 2.3 billion). Subject to regulatory approvals, this investment will increase Deutsche Bank’s equity stake in Hua Xia Bank from 17.12% of issued capital to 19.99%, the Company issued 1,859,197,460 shares subject to restrictions on sales in a non-public manner to Shougang Corporation, Yingda International Holdings Corporation, Ltd. and Deutsche Bank Luxembourg S.A., who subscribed to 691,204,239 shares, 653,306,499 shares and 514,686,722 shares, respectively. The shares that the said investors subscribed to are locked for 60 months from 26 April 2011. The Company will apply to the Shanghai Stock Exchange (“SSE”) for the non-public offering of these shares on 26 April 2016

[February 2 Gao Jue: JPMorgan Chase China investigated under Foreign Corrupt Practices Act]

Gao Jue declined to comment through his current employer, Goldman Sachs Group Inc.

Gao Jue declined to comment through his current employer, Goldman Sachs Group Inc.

JPMorgan Chase & Co is under federal scrutiny over hiring the son of China’s Commerce Minister Gao Hucheng. Gao Jue started work in the summer of 2007. Mr Gao started working for Goldman in 2013 and is now in the bank s natural resources group in Hong Kong.
Gao Hucheng, who was promoted to minister in March 2013, offered to “go extra miles” for the investment bank if it spared his son during a major layoff.

The hiring is under scrutiny from U.S. authorities who are investigating the Asian hiring practices of JPMorgan and other banks.

Federal prosecutors view Gao Jue’s hiring as a potential violation of the Foreign Corrupt Practices Act, Gao Hucheng and his son are not accused of any wrongdoing. more JPMorgan China

[September 18 2014 Deutsche Bank, under scrutiny, wants money back from Zhang Hongli]

Zhang was said to have taken a steep pay cut to join ICBC. In a press release, Deutsche Bank said Zhang was “to follow [a] government call” to join ICBC.

Deutsche Bank is demanding that Zhang Hongli, now senior executive vice-president of the Industrial and Commercial Bank of China (ICBC), repay Deutsche Bank US$3.9 million. He held the dual posts as China chairman and head of global banking for Asia-Pacific ex-Japan at Deutsche Bank. Regulatory scrutiny of investment banks in the US has expanded into hiring practices in China. The US authorities are looking into whether large banks, including JPMorgan, hired the children of China’s rich and powerful to win lucrative IPO deals. The money went to an offshore company held by his relative.
Zhang caused the Hong Kong branch of Deutsche Bank to move US$3.9 million to the account of a company called Harperskille at the Shenzhen branch of China Merchants Bank. The money was a commission to Harperskille for helping Deutsche Bank secure a deal to become an underwriter for the public listing of China Shenhua Energy – the world’s second-largest initial public offering in 2005. China Shenhua was listed in Hong Kong in June that year, raising US$3.3 billion. Deutsche Bank, Merrill Lynch and China International Capital Corp got the business, defeating Citigroup and Goldman Sachs. Zhang insisted that the transfer was proper and that he had received verbal approval from senior Deutsche Bank management before the transfer was made.
It is a customary practice among investment banks, particularly those from Europe, to pay a middleman commission for bringing in lucrative deals.
Zhang’s appointment with ICBC – the world’s biggest bank by total assets – in April 2010 made him the first Chinese employee of a Western financial institution to be recruited as a senior manager at a state lender.
The 49-year old is also a member of the national committee of the Chinese People’s Political Consultative Conference.
During his 10-year stint at Deutsche Bank, Zhang was known as a prolific dealmaker. Apart from the Shenhua Energy IPO, he was also instrumental in helping ICBC’s record-breaking US$19 billion listing and that of China Life.

[August 15 Global Special Opportunities Group: JPMorgan China selling while under scrutiny]

PMorgan is hoping to fetch $1 billion for its Asia-based Global Special Opportunities Group. But interested buyers should consider the recent turmoil the bank has encountered in China.

JPMorgan has put its Asia-based Global Special Opportunities Group on the block, hoping to fetch a cool $1 billion from the sale. The bank has been shopping the group around to a number of private equity firms and credit-focused hedge funds that apparently want greater exposure to the fast-growing Asian — and by Asian we really mean Chinese — credit markets.

The impetus behind this sale may have to do with all the heat JPMorgan has taken recently over its controversial Chinese hiring practices. The firm is supposedly under investigation by U.S. authorities for allegedly hiring the sons and daughters of Chinese officials in an attempt to gain access to China’s massive state-controlled companies.

[August 13 Chinese trial balloon for an extradition treaty with U.S. after Xi Jinping’s corruption crackdown]

Hurun Research Institute polled wealthy Chinese emigrants about their reasons for leaving the mainland. The most frequent responses were education (21 percent), pollution (20 percent), food safety (19 percent), social welfare (15 percent), health care (11 percent), wealth security (8 percent), and childbirth/obtaining foreign citizenship for their children (4 percent). To be sure, if “fleeing President Xi Jinping’s corruption crackdown” had been offered as a multiple-choice answer, it’s unlikely that any “economic fugitives” would have answered forthrightly.

More than 150 economic fugitives from China, most of whom are corrupt officials or face allegations of corruption, remain at large in the United States, according to an official from the Ministry of Public Security .Many Chinese economic fugitives still at large in US “The US has become the top destination for Chinese fugitives fleeing the law,” said Liao Jinrong, director general of the International Cooperation Bureau under the Ministry of Public Security.
Figures from the ministry show that during the past decade, Chinese police have brought only two fugitives home to stand trial. One of those was the high-profile fugitive Yu Zhendong, former head of the Bank of China branch in Kaiping, Guangdong province.
Yu was found guilty of corruption and embezzlement of funds of up to $482 million, and was repatriated in 2005 after spending four years on the run.
“We face practical difficulties in getting fugitives who fled to the US back to face trial due to the lack of an extradition treaty and the complex and lengthy legal procedures, ” Liao said.
He said an extradition treaty is essential between the countries but little progress has been made with the US.
Moreover, experts said, US judicial authorities misunderstand the Chinese judicial system and procedures.
“They always think Chinese judicial organs violate suspects’ human rights,” said Wang Gang, a senior official from the America and Oceanic affairs division of the ministry’s International Cooperation Bureau.

[July 23 JPMorgan China names Brett Krause]
JPMorgan Chase said on Wednesday it named Brett Krause to head its locally incorporated bank in China, adding to other recent hires as it rebuilds its leadership team in the country.

Krause, a 20-year banking veteran, was hired as president of JPMorgan Chase Bank (China) Company Limited, the New York-based bank said in an e-mailed statement. He joined JPMorgan in January and previously held leading roles at Citigroup, including senior country officer in Vietnam.

JPMorgan earlier in July said it had hired former UBS AG banker David Li as the new head of overall China business, including investment banking. The bank’s chief executive for China investment banking, Fang Fang, left the firm in March, amid a probe of JPMorgan hiring practices in Asia.

Lilly Chang
Fulmark – JPM China connection

A consultancy firm operated by former premier, Wen Jiabao’s daughter, who often goes by the name Lily Chang, had been paid $1.8m by the US financial services giant JPMorgan, her consulting firm is Fullmark Consultants. The company was set up in the British Virgin Islands by Chang’s husband, Liu Chunhang, in 2004. He is a former Morgan Stanley employee, and he remained as sole director and shareholder until 2006, when he took a job in China’s banking regulation agency. Nominal ownership of the firm was transferred at that time to Zhang Yuhong, a Wen family friend. One purpose for such companies is to allow for the establishment of bank accounts in the company’s name, a legal measure that nonetheless makes tracing of assets a more complicated task.

Data Sheet FULLMARK CONSULTANTS LIMITED
OMIS Code: 19872 Outstanding Debtor Balance: $0.00
Name: FULLMARK CONSULTANTS LIMITED
Status: A ACTIVE
Tax Status: IBC BVI INTERNATIONAL BUSINESS COMPANY
Company Type: STD STANDARD INTERNATIONAL COMPANY
Administrator: OWONG OLIVE WONG
Registration Number: 611836
Incorporation Date: Wednesday, August 25, 2004
Authorised Capital: USD50,000.00
Referral Office: HK
Master Client: ESSLD Equity Secretarial Services Limited
Address: 8th Floor, Nexxus Building,
41 Connaught Road Central,
Hong Kong
Fax: 852 2956 1161
Telephone: 852 2956 1818
E-Mail: co.sec@victorchu.com
Master Client Contact: 2 Teresa Chu/ Ms. Shebby Lo
Directors: Docs Docs
Director Appointed Signed Resigned Signed Type
LIU Chun Hang 10/14/2004 3/16/2006 DIR
ZHANG Yuhong 3/16/2006 DIR
Secretaries:
Shareholders: Shareholder Cert # No Shares Share Acquired Disposal
LIU Chun Hang 1 0 ORD 14-Oct-04 16-Mar-06
ZHANG Yuhong 2 1 ORD 16-Mar-06
Annual Invoice Prof: Annual Fee Item Fee Amount Nominee Name
Renew Coy (TNet Fee) 300.00
Renew Coy (Govt Fee) 350.00
650.00
Previous Names:
Notes: Date Narration Type
08-May-09 Recived the following documents:- ENT

(1) the originally signed Resolutions in Writting of the Sole Director dated 17 August
2007 with the draft deed of waiver

The above-mentioned documents would be forwarded to BVI office shortly.

Olive Wong 8 May 2009
22-Apr-05 Witness: Georgea Hodge – Subscriber: Nicole Wheatley ENT

[June 8]

 Zhu Tong (Rose Zhu) Vice Chairman, China, Deutsche Bank AG


Zhu Tong (Rose Zhu)
Vice Chairman, China, Deutsche Bank AG

Deutsche Bank is being investigated by regulators looking to see whether it hired the children of Chinese government officials as a way to make connections and attract business, a source with knowledge of the probe .

JP Morgan have been probed by U.S. regulators regarding their hiring practices in China. Mar 31, 2014 :Deutsche Bank AG is weighing whether to refrain from working on China General Nuclear Power Group’s initial public offering amid a probe into hiring practices in Asia. Germany’s largest bank employs the daughter of Shenzhen-based China General Nuclear’s chairman, He Yu. He Yu’s daughter Celia isn’t currently working for Deutsche Bank. Celia He was hired in September 2011 by Beijing-based Zhong De Securities Co., which is part-owned by Deutsche Bank She was recruited into Deutsche Bank’s investment-banking department. She has also worked in global credit trading,

[May 30]

class

China Daily graphic 2014/05/30

Fang Fang belongs to the faction of Zeng Qinghong, a former Politburo Standing Committee member

Fang Fang belongs to the faction of Zeng Qinghong, a former Politburo Standing Committee member

Fang Fang is backed by Zeng Qinghong, the No.2 boss of Jiang Zemin’s faction. The news has been publicly reported in China, and is a sign that something has happened with Zeng Qinghong. Zeng had been in charge of Hong Kong and Macau affairs for a long period, and is currently involved in Bo Xilai and Zhou Yongkang’s cases.
Fang Fang is unable to leave Hong Kong and will face further investigation and legal charges. Investment bankers at JP Morgan are hiring lawyers for protection against possible future legal charges.

Fang Fang, who is 48 years old, has a complicated political background. He is a delegate to the CCP’s Political Consultative Conference and the chairman of Hua Jing Society, the Hong Kong branch for CCP princelings.

[May 21]

Fang Fang, former chief executive officer for JPMorgan Chase & Co. (JPM)’s China investment bank

Fang Fang, former chief executive officer for JPMorgan Chase & Co. (JPM)’s China investment bank

Fang Fang, former chief executive officer for JPMorgan Chase & Co. (JPM)’s China investment bank, was arrested by Hong Kong’s anti-graft agency. Fang resigned from the New York-based firm in March amid a U.S. investigation into whether the firm employed people in Asia so that their relatives in government would steer business to the bank, people with knowledge of the probes have said. The bank hasn’t been charged with any wrongdoing.

The banker, a 12-year veteran of JPMorgan, is out on bail after he was released by the Independent Commission Against Corruption without disclosing when Fang was taken in for questioning. He’s restricted from leaving Hong Kong, it said.

Ms. Therese Esperdy serves as the Co-Head of Asia-Pacific Investment Banking at JP Morgan Chase & Co.

Ms. Therese Esperdy, left, serves as the Co-Head of Asia-Pacific Investment Banking at JP Morgan Chase & Co.

Fang reports to Therese Esperdy, the bank’s co-head of banking for Asia-Pacific. Esperdy, who relocated to Hong Kong in 2011 from the firm’s New York headquarters to take charge of its advisory business was made co-head of corporate and investment banking in the Asia-Pacific region the following year.

Ms. Therese Esperdy serves as the Co-Head of Asia-Pacific Investment Banking at JP Morgan Chase & Co. Ms. Esperdy served as the Head of High-Grade Debt Capital Markets of JP Morgan Chase & Co. since November 22, 2004 and also served as its Global Head of Debt Capital Markets. She has been a Non-Executive Director at National Grid plc since March 18, 2014.

JP Morgan. perhaps, hired sons and daughters of senior Chinese officials in the hope of winning deals from major state-owned firms. JP Morgan’s hiring of the son of China Everbright Group’s chairman, Tang Shuangning, and a former railway official’s daughter. JP Morganhas ties, perhaps, with a consulting firm run by Wen Ruchun, also known as Lily Chang, the only daughter of former premier Wen Jiabao.

[May 18]
A Manhattan lawyer jumped to his death out of his luxury Central Park West apartment building May 16. Stephen R. Hertz, a partner at the Third Avenue practice, Debevoise and Plimton LLP, sent a suicide letter to his ex-wife yesterday evening before he plunged out his 22nd-floor window and landed in a tree. A building manager found Hertz, 54, at 9:21 pm mangled in the tree — which had to be cut down to retrieve his lifeless body. Hertz sent the suicide note to his ex-wife who forwarded the email to a psychiatrist who then dialed 911.

Bank of America, led by CEO Brian Moynihan,  called off its 2014 capital plan.

Bank of America, led by CEO Brian Moynihan, called off its 2014 capital plan.

[May 4]
Banks often have applied the fair value option to structured notes like Merrill Lynch’s, in which the payout to the debtholder is tied to changes in some other instrument. BofA properly factored the gains and losses of those notes into its earnings, but regulatory capital excludes unrealized gains and losses – and BofA stripped out more of those changes than it should have.
When making the calculation to get from its capital under accounting rules to its regulatory capital, BofA stripped out “unrealized” changes on those structured notes – i.e., the paper gains and losses on notes it still held. But the bank also stripped out “realized” losses on structured notes that had matured or been redeemed – and it wasn’t supposed to do so.
The error amounted to a difference of more than $4 billion in BofA’s regulatory capital, or about 0.3 percentage point at most in the bank’s future expected regulatory capital ratios, not that much in the scheme of things. But it is significant because it erodes the “buffer” the bank would have in excess of future required minimum capital levels

[March 12]
In 2010, 38,364 suicides were reported, making suicide the 10th leading cause of death for Americans.

http://www.bloombergview.com/articles/2014-03-13/why-are-so-many-traders-literally-killing-themselves

Leonard Morton

former Dewey & LeBoeuf executives Steven Davis, Stephen DiCarmine and Joel Sanders, along with former Dewey accounting employee Zachary Warren, filed into a downtown Manhattan courtroom Thursday to plead not guilty to multiple counts of fraud related to the firm's 2012 collapse.

former Dewey & LeBoeuf executives Steven Davis, Stephen DiCarmine and Joel Sanders, along with former Dewey accounting employee Zachary Warren, filed into a downtown Manhattan courtroom Thursday to plead not guilty to multiple counts of fraud related to the firm’s 2012 collapse.

Clad in suits and handcuffs, former Dewey & LeBoeuf executives Steven Davis, Stephen DiCarmine and Joel Sanders, along with former Dewey accounting employee Zachary Warren, filed into a downtown Manhattan courtroom Thursday to plead not guilty to multiple counts of fraud related to the firm’s 2012 collapse.

Leonard Morton,Manhattan attorney, jumped to his death March 7 from his downtown office building, sources said.
The 44-year-old lawyer leaped from a 12th-floor window at 225 Broadway, landing face down on scaffolding above the sidewalk, according to law enforcement sources.
Police were called to the scene at 7:23 a.m., when responders found the man in cardiac arrest.

[March 5]

Autumn Ratke

Autumn Ratke

It appears bitcoin’s recent turmoil has claimed its first life.

Autumn Radtke, a 28-year-old American CEO of bitcoin exchange firm First Meta, was found dead in her Singapore apartment on Feb. 28.
Local media are calling it a suicide, but Singapore officials are waiting for toxicology test results to determine a cause of death.
Radtke formerly worked with Apple and other Silicon Valley tech firms on developing digital payment systems.
Radtke’s death brings the number of questionable financial-sector deaths this year to eight.

[February 18]

HongKong rooftop jumper

The police said no suicide note was found.An investment banker at JP Morgan jumped to his death from the roof of the bank’s headquarters in Central yesterday.An initial police investigation showed he had recently told a colleague he was under heavy work-related stress, according to a police source involved in the investigation.

Witnesses said the man went to the roof of the 30-storey Chater House in the heart of Hong Kong’s central business district and, despite attempts to talk him down, jumped to his death.

[February 13]
On Feb. 10, the fourth banker in just over a month died of mysteriously causes. Ryan Henry Crane, an Executive Director in J.P. Morgan’s Global Program Trading desk, was found dead at the young age of 37.
Ryan Henry Crane was formerly employed by JPMorgan – a bank which was featured prominently in the news as recently as two weeks ago when another of its London-based employees committed suicide by jumping from the top floor of its Canary Wharf building. Third: Crane was an Executive Director in JPM’s Global Program Trading desk, founded in 1999 by an ex-DE Shaw‘er, a function of the firm which is instrumental to preserving JPM’s impeccable and (so far in 2013) flawless trading record of zero trading losses. – Zerohedge

While details of Crane’s death have not been released, the fact that he was a high level banker within the sphere of banks already involved in other mysterious deaths of three other financiers adds fuel to the fire that a hit list and banker purge may be currently underway.

[August 21 2013]

The punishing hours interns endure at investment banks were highlighted after the death of a young Bank of America Merrill Lynch employee who collapsed at home following three consecutive working days of 6am finishes.

Moritz Erhardt had been coming towards the end of a seven-week pre-graduate internship in London when his body was discovered by flatmates. The circumstances of the 21-year-old’s death are unknown but Scotland Yard is not treating it as suspicious. Mr Moritz was from Freiburg, south west Germany.

Around 300 interns working at various banks stay at the Claredale House student accommodation complex in Bethnal Green for between seven and 10 weeks over the summer.

One intern, who worked at one of the American “bulge-bracket” firms, memorably described the experience of working all night only to start the new day an hour later: “Every intern’s worst nightmare is what’s called ‘the magic roundabout which is when you get a taxi to drive you home at 7am and then it waits for you while you shower and change and then takes you back to the office.”The interns at Claredale House usually were foreigners. They are the star pupils from French, German, Australian, Chinese and Indian universities who arrive in London every summer to put their names into the hat for the City’s most prestigious banking jobs. The “hardcore” internships are the ones on the mergers and acquisitions desks, and last between eight and 10 weeks.

The banks every intern wants to work for — Barclays Capital, JP Morgan, Goldman Sachs, Credit Suisse, HSBC and, of course, Bank of America Merrill Lynch — pay their young charges well. Pro rata salaries of £40,000 or £50,000 mean that they can earn £10,000 for a summer’s work. Goldman Sachs is said to pay even more than that. The work is intense but the rewards are great if you can stand the pace. One former intern says there were 5,500 applicants for the two dozen internship places at his investment house when he did his summer there a few years ago.
A 25-year-old Masters student, one of the non-intern residents at Claredale House, said last night that Erhardt was “working crazy hours” and says most of the residents “work every Saturday and every Sunday”. Can she imagine any of them working 72 hours on the trot? “Yeah, definitely.”

A recent banking intern describes the work that eats up the small hours as “a lot of checking of documents, a lot of Excel, a lot of PowerPoint”. The interns spend a big chunk of their time preparing “pitchbooks” for client presentations, making the case for purchasing an educational group in Australia or a health training group in China.

“We would model the sector, the company, what they should pay for it, who their big guns are, what the challenges are, some ideas about integration and “synergies” — the most popular word in M+A [mergers and acquisitions].”

“When you’re an intern, you get given all the s*** work,” is the blunter summary of an intern arriving back at Claredale last night.

The City “bloodbaths” that have seen hundreds of thousands of workers laid off since the financial crisis hit have had a knock-on effect for the firm’s twenty-something summer helpers. There is anecdotal evidence that interns are doing more of the “client critical” work than they were expected to do a decade ago.

“I’m sure there are horror stories from the Eighties and Nineties all over the internet,” says a junior banker at a big City firm, “but the environment in the last three years has probably added to the idea that one has to keep working into the night, driven on by the fact that each intern is peering over his computer to see which other interns are left.”

The aspirant bankers who stay at Claredale pay between £156 and £168 per week for their small single-study bedrooms in shared flats. There are 246 such rooms in 59 flats over four storeys in the red-brick complex.

[September 25 2012]
Mr Adoboli then expected the market to rise again, which it did, But Mr Adoboli failed to close his position when he had the opportunity. Then the market dropped again, causing him to incur further losses, which he again hid.

Mr Adoboli’s defence, led by Charles Sherrard, claimed management had given mixed signals to traders, and that risk limits were not only high but regarded as flexible. According to Mr Sherrard, a culture of taking greater risks in the hope of generating higher profits had developed after the arrival of Yassine Bouhara, then one of the co-heads of global equities at UBS. “Throughout 2009 and 2011 this method of trading was endemic within the bank,” Mr Sherrard said.
[September 18]Despite seeing £233,000 pass through his NatWest Bank account in the 12 months prior to his arrest Mr Adoboli’s account was overdrawn by £3,594 when he was arrested on September 15 last year, the court was told. Across his four banks accounts and two credit cards the 32-year-old trader owed £4,181. His primary current account showed payments to eight pay-day loan companies including Wageday Advance, Wonga.com, Payday UK and Pounds to Pocket.
[September 14]Adoboli, from Whitechapel, East London, denies four counts of fraud and false accounting between October 2008 and September 2011.
During 2009-2010 when the “off book” trades occurred, Adoboli’s salary rose : beginning at £33,000 with a bonus of £7,500, by 2008 Adoboli was earning a combined sum of £65,000. Just two years later this was £360,000 – a basic salary of £110,000 and a bonus of £250,000 based partly on the bank’s wider performance but also on how much profit an employee brings in.
Adoboli racked up the giant losses undetected through three means. First, he often exceeded the official daily trading limit per employee of $100m. He also failed to hedge trades by making balancing trades to mitigate potential losses, an insurance method that also caps potential profits. By doing so Adoboli hoped to maximise profits and thus his bonus. Finally, he falsified data so as not to record his trades properly, often inventing false clients and trades for hedges.

[Sep 10]A jury was selected at today’s session. Arguments, which had been scheduled to start today at a London criminal court, were pushed back until the end of the week. Sept. 14

After spending nine months in Wandsworth prison in southwest London after his arrest on Sept. 15, 2011, Adoboli has been free on bail for three months.
He worked for the Zurich-based investment bank’s Delta One desk, which handles trades for clients — or risks the bank’s own money — typically by speculating on a basket of securities. The loss, which came from trading in Standard & Poor’s 500, DAX and EuroStoxx index futures, didn’t affect any client positions, according to UBS.

[September 16, 2011]Kweku Adoboli may have been caught out after the Swiss Central Bank unexpectedly devalued the franc last week, producing mammoth losses on his currency trades. Adoboli may have mis-hedged his exposure to the Swiss franc and attempted to hide it from his team when the market moved against him by overcompensating with a hedge in the opposite direction. Any short position on Swiss franc volatility would have suffered after volatilities rose again earlier this week. UBS claims the third largest share in global foreign exchange trading, and is the biggest trader in the euro/franc pairing.
Currency traders around the world either a) counted up the huge amounts of money they made from betting the currency would lose value; or b) counted the losses they’d racked up from betting on the Swiss Franc climbing further in value. Wilful blindness is more than mere negligence: it require knowing there’s a “high probability that a fact exists,” and “the defendant must take deliberate actions to avoid learning of that fact.”
One suspects that, in keeping with what happened at many banks, Kerviel, 33, was encouraged to engage in ever more reckless gambling so long as he made a profit. Then when the plan turned sour, management sought to cover their own backs by claiming his trades were ‘unauthorized’ and blaming the whole thing on him. [the Jerome Kerviel affair ]

Lester Van Waters Jr., 50, was sentenced to 80 years in prison on Monday for his role in Sherry Arnold’s murder.

Lester Van Waters Jr., 50, was sentenced to 80 years in prison on December 15 for his role in Sherry Arnold’s murder.

December 17, 2014, 11:40 AM: “Mr. Waters you are losing your freedom. Sherry Arnold lost her life,” Judge Simonton said. Based on the plea agreement, Simonton sentenced Lester Waters Jr., one of the two men who pleaded guilty in the homicide of Sherry Arnold, to 100 years in the Montana State Prison with 20 years suspended. Waters, 50, will be eligible for parole in 20 years after pleading guilty to the amended count of accountability to deliberate homicide. Keith Spell, 25, allegedly told authorities that Van Waters killed Arnold, a jailhouse informant testified that “Spell said he choked her out … pushed Sherry’s face into some water and drowned her to make sure she was dead.” Spell later admitted that he was unsure if he or Waters killed Arnold.

The younger man reportedly acted on the older’s directive because Van Waters said “he wanted to have sex,”
The judge noted eastern Montana and western North Dakota were greatly affected by the kidnapping and murder of the Sidney teacher on Jan. 7, 2012. He said the only way that he was open to accepting the binding plea agreement was that attorneys instructed him that the family of Arnold was agreeable. Simonton also ordered Waters to pay $21,448 in restitution to Gary Arnold, Sherry’s husband. Waters’ vehicle will be sold with funds going toward the restitution.
According to pre-sentencing information, Simonton said Waters is about $84,000 in debt due to back child support. Waters has seven children with five different women. read more read Spell

[August 13 2013 Sherry Arnold :Lester Van Waters Jr ( 2 children) pleads guilty]

M. K Spell

M. K Spell

L V Waters

L V Waters

SIDNEY – Lester Van Waters, Jr., the co-defendant in the Sherry Arnold murder case, has entered into a plea agreement with the state.

Waters has been charged with deliberate kidnapping and deliberate homicide in the 2012 death of Arnold.

According to the Richland County Clerk of Courts, Waters will appear before District Judge Richard Simonton on Tuesday afternoon at 2:00 pm.

The plea agreement calls for a 100-year sentence that will spare Waters the death penalty, as long as he agrees to plead guilty and assist the state in the prosecution of Michael Spell.

In addition, 20 years of the 100-year sentence would be suspended, and there would not be any restriction on Waters’ eligibility for parole.

Judge Simonton will make the final ruling Tuesday afternoon as to whether or not he’ll accept the plea agreement.

Click here to read the plea agreement (PDF).

TIMELINE (2012)

January 7th: Sherry Arnold, a 43 year old teacher in Sidney, Montana is reported missing after failing to return from a morning run.

January 7th: A search begins for Arnold which includes 100 people, including 40 members of the Montana National Guard and two planes searching by air.

January 7th: Authorities recover one of Arnold’s jogging shoes in northeast Sidney along Ninth Avenue. A substance which has not been identified by law enforcement was found on the shoe.

January 9th: The Montana Department of Justice issues a Missing Persons Alert for Arnold.

January 10th: The Federal Bureau of Investigation becomes involved in the investigation into Arnold’s disappearance due to proximity to North Dakota and potential of kidnapping.

January 11th: A tip line is set up by investigators for information leading to the whereabouts of Sherry Arnold (406) 433-4027. Also, a “Help Find Sherry Arnold” page on Facebook garners thousands of visits.

January 12th: Formal search efforts are suspended until authorities receive new information.

January 12th: Arnold added to the FBI Missing Persons List.

January 13th: The Sidney School District posts on their website that it had informed students and teachers that Sherry Arnold is dead. The school says they were informed by Arnold’s family.

January 13th: A press conference is held by Sidney police in conjunction with the FBI. Sidney Police Chief Frank DiFonzo said a 47-year-old man is in custody in Williston, North Dakota, and a 22-year-old man had been detained for questioning in Rapid City, South Dakota, both in connection with Arnold’s disappearance.

January 13th: Hundreds pour into the gym at Sidney High School for a memorial vigil.

January 14th: Sidney Police Chief Frank DiFonzo confirms that the two men in custody have been arraigned on charges of aggravated kidnapping and are being held at the Williams County Jail in Williston, North Dakota.

January 15th: The two men held on charges of aggravated kidnapping are identified as 47-year-old Lester Waters Jr. and 22-year-old Michael Spell. Both men are most recently from Parachute, Colorado.

[January 19, 2012]

Waters had several stints in jail in Indian River County and was incarcerated three times by the Florida Department of Corrections: from September 2002 to December 2003; August 2007 to March 2008; and March 2009 to August 2010.

In an application for a public defender filed in Williams County, N.D., Waters listed his home address as Parachute, Colo., where court records also show he had a driver’s license. He listed two children, ages 5 and 15, and said he was not married.
Michael Keith Spell, 22, and 47-year-old Lester Vann Waters are charged in Montana with aggravated kidnapping, a felony charge that carries the death penalty in that state, in connection with the Jan. 7 disappearance of teacher Sherry Arnold of Sidney enter a Williams County courtroom Tuesday, Jan. 17, 2012 for a preliminary extradition hearing in Williston, N.D. Spell’s application for a public defender in the missing teacher case suggests he is married with a 1-year-old son.

Michael Keith Spell

Michael Keith Spell


Accused kidnapper Lester V Waters

Accused Kidnapper


Pastors from Sidney Montana for Sherry Arnold at  gym, recited the Lord's Prayer

Pastors from Sidney Montana for Sherry Arnold at gym, recited the Lord's Prayer


Lester Van Waters Jr., 47, and Michael Keith Spell, 22, both of Parachute, Colorado, have been arraigned in Williams County, North Dakota, on charges of aggravated kidnapping in connection with the disappearance of Sherry Arnold.
SIDNEY, Montana: “It’s just so sudden.”
it is believed that Sherry Arnold may be deceased and that her body has not been recovered.

Law enforcement officials are requesting that North Dakota property owners in Williams County, McKenzie County, Mountrail County, and those in extreme northeastern Montana check shelter belts and vacant farmsteads on their land for disturbed soil.

The surrounding grassy area may also appear to be matted. A shelter belt is a line of trees that protects soil from the wind. Ms. Arnold’s body may be buried in a shelter belt that contains mature or rotted trees. Mrs Arnold, 43, disappeared while on an run along a two-lane, farm-to-market route with mostly local traffic and some tractor-trailers,.a truck route on the edge of the oil boom town in northeast Montana that has about 5,500 residents.
Sidney — a town of about 5,000 only 10 miles from the border with North Dakota — is changing as people pour in from out of town, chasing the money brought by the Bakken oil boom.
He’s seen it before — the last time there was an oil boom in the 1980s.
“We have a lot of activity now at this part of the state,” DiFonzo said. “A lot of out-of-state people are here to work, and locals don’t know them or recognize them.”
The influx has increased crime, and DiFonzo said officers are responding to more bar fights, domestic violence and drunken driving.
“We are just seeing the tip of the iceberg,” he said.
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The Town of Parachute is a Statutory Town in Garfield County, Colorado, United States. The population was 1,006 at the 2000 census. they had to either charge the two men being questioned (and in custody) or to let them go no later than Sunday night, as it would have completed the 72-hour window allotted them for questioning without bringing charges.

The two men were charged.

Riders from Parachute, Colorado

Riders from Parachute, Colorado

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