New details in the
The banking giant agreed to pay the DOJ a record $13 billion to settle state and federal civil lawsuits over faulty
However, the deal also states that any remaining money from that $4 billion will go to NeighborWorks of America, a liberal group that provides
Critics say some of the community organizers sponsored by NeighborWorks are in the same vein as ACORN, the community organizing group busted in 2010 in a voter fraud scandal.
Fox News’ senior judicial analyst Judge Andrew Napolitano slammed the deal, saying the Obama administration is funneling the funds to liberal causes.
“This is an utter perversion of justice,” he said, “for the federal government to extort billions of dollars from the second-largest bank in the United States and give it away to the president’s political friends and favorite political causes.”
NeighborWorks tells Fox News they had no idea they may receive the money from the settlement.
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How the Obama Admin funds leftist political organizations in three easy steps…
Step 1) DOJ attains funds in housing crash financial institution shake downStep 2) Money is laundered through government
Step 3) Money is transferred to partisan political organization that supports Obama
No need for Congress, for a budget or anything. It is like Iran Contra for socialists.
"New details in thesettlement between the Justice Department and JPMorgan Chase have revealed the deal may lead to money being funneled toward a liberal advocacy group, Fox News’ Trace Gallagher reported Monday on “The Kelly File.”
The banking giant agreed to pay the DOJ a record $13 billion to settle state and federal civil lawsuits over faultymortgage bonds last month. The settlement states that $9 billion of the funds will go toward the lawsuits and the other $4 billion will be allocated for consumer relief.
However, the deal also states that any remaining money from that $4 billion will go to NeighborWorks of America, a liberal group that provides affordable housing and helps fund community organizers.
Critics say some of the community organizers sponsored by NeighborWorks are in the same vein as ACORN, the community organizing group busted in 2010 in a voter fraud scandal."More here.
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EXTORTION: ex·tor·tion
noun:
1. an act or instance of extorting.
2. Law. the crime of obtaining money or some other thing of value by the abuse of one's office or authority.
3. oppressive or illegal exaction, as of excessive price or interest:
the extortions of usurers.
4. anything extorted.
MONEY LAUNDERING:
Overview - Money Laundering
What is Money Laundering?
The term “money laundering” refers to the activities and
financial transactions that are undertaken specifically to hide the
true source of the money. In most cases, the money involved is earned
from an illegal enterprise and the goal is to give that money the
appearance of coming from a legitimate source.
Why is IRS Involved in Money Laundering Investigations?
Why is IRS Involved in Money Laundering Investigations?
One look at the daily news is proof that the crimes
dealing with or motivated by money make up the majority of criminal
activity in the nation. Tax evasion, public corruption, health care
fraud, money laundering and drug trafficking are all examples of the
types of crimes that revolve around money. In these cases, a financial
investigation often becomes the key to a conviction. For this reason,
IRS is one of the key agencies involved in money laundering
investigations.
Money laundering is a very complex crime involving intricate details, often involving numerous financial transactions and financial outlets throughout the world. Criminal Investigation has the financial investigators and expertise that is critical to “follow the money trail.”
Criminal Investigation focuses on money laundering where the underlying conduct is a violation of the income tax laws or violations of the Bank Secrecy Act. According to the IRS, money laundering is the means by which criminals evade paying taxes on illegal income by concealing the source and the amount of profit. Money laundering is in effect tax evasion in progress.
When no other crimes could be pinned to Al Capone, the Internal Revenue Service obtained a conviction for tax evasion. As the astonished Capone left the courthouse he said, "This is preposterous. You can't tax illegal income!" But the fact is income from whatever source derived (legal or illegal) is taxable income.
Had the money laundering statutes been on the books in the 1930's, Capone would also have been charged with money laundering. However, since October 1986, with the passage of the Money Laundering Control Act, organized crime members and many others have been charged and convicted of both tax evasion and money laundering.
When a criminal has a large amount of illegal income, they have to do something with it in order to hide it from the IRS. They attempt to launder it to make it appear as if it was from a legitimate source, allowing them to spend it or invest it in assets without having to worry about the IRS and tax consequences.
One of the ways to launder illegal proceeds is to move the money out of the United States and then bring it back in a clean form, often disguised as loan proceeds. Another method is to channel or co-mingle the money through various business activities to give the appearance that the money was derived from a legal source.
Why a Financial Investigation?
Financial investigations are by their nature very
document intensive. They involve records, such as bank account
information or real estate files, which point to the movement of money.
Any record that pertains to or shows the sequence of events involving
money movement is important. The major goal in a financial investigation
is to identify and document the movement of money during the course of a
crime. The link between where the money comes from, who gets it, when
it is received and where it is stored or deposited, can provide proof of
criminal activity.Money laundering is a very complex crime involving intricate details, often involving numerous financial transactions and financial outlets throughout the world. Criminal Investigation has the financial investigators and expertise that is critical to “follow the money trail.”
Criminal Investigation focuses on money laundering where the underlying conduct is a violation of the income tax laws or violations of the Bank Secrecy Act. According to the IRS, money laundering is the means by which criminals evade paying taxes on illegal income by concealing the source and the amount of profit. Money laundering is in effect tax evasion in progress.
When no other crimes could be pinned to Al Capone, the Internal Revenue Service obtained a conviction for tax evasion. As the astonished Capone left the courthouse he said, "This is preposterous. You can't tax illegal income!" But the fact is income from whatever source derived (legal or illegal) is taxable income.
Had the money laundering statutes been on the books in the 1930's, Capone would also have been charged with money laundering. However, since October 1986, with the passage of the Money Laundering Control Act, organized crime members and many others have been charged and convicted of both tax evasion and money laundering.
When a criminal has a large amount of illegal income, they have to do something with it in order to hide it from the IRS. They attempt to launder it to make it appear as if it was from a legitimate source, allowing them to spend it or invest it in assets without having to worry about the IRS and tax consequences.
One of the ways to launder illegal proceeds is to move the money out of the United States and then bring it back in a clean form, often disguised as loan proceeds. Another method is to channel or co-mingle the money through various business activities to give the appearance that the money was derived from a legal source.
Why a Financial Investigation?
IRS investigations of illegal income cases involving money laundering are critical components of the nations National Money Laundering Strategy. The long hours of tracking and documenting financial leads allows an investigation to go right to the door of the money launderers and eventually to the leader of the illegal enterprise. A complete financial analysis and reconstruction of the illegal activity (i.e. a drug organization or an abusive trust scheme) will document the financial activities related to unreported income on tax returns and money laundering which is usually key to securing a conviction.
Money laundering creates an underground, untaxed economy that harms our country’s overall economic strength. It is a global threat that erodes our financial systems.
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