As I have proven this issue is not limited to one bank buy industry wide and there are many other investigations underway as well as I have trained consumer attorneys and fraud examiners who have scoured courts and found that in last years bank settlements and government consent orders the illegal actions never stopped we pulled out millions of dollars in the fraudulent open judgments all in violation of the government orders and the peoples wages were being garnished, bank accounts levied, forcing homes into foreclosure for judgments known to be illegal and had been sworn to were dismissed, customers refunded and no more had been filed. Me, other bankers, consumers, attorneys working on their own time, and even regulators that did investigate and ordered the right changes only to get false promises out right lies to the government, the public, the media, customers and the investors in SEC filings. Five years in me and people assisting now we have a lot more experiencee in this and have not come this far for nothing.
We are working and going to accomplish the proper restitution ordered to be made, real solutions put in place and double checked, monitored and audited regularly, accountability for these crimes it was bad enough billions in fraud by abusing the judicial system to bypass all state and federal consumer protection laws you got caught and nothing is allegations we are talking just my whistleblower suit (no world I am not rich not even employed) The best investigative journalists in the country put now years into research and amazing reporting and articles to bring awareness and action and we got it from every regulatory agency in the country. But the job isn't done far from it. We need the OCC, SEC, CFPB and FTC to go finish the job and especially after intentionally going to great lengths to lie and move processes to locations where no auditors were looking to continue the crimes you are sitting there telling the regulators and doj you stopped 2011? There is no excuse that can be made or accepted here for the government orders "there was no monetary fine levied due to their cooperation in the investigation and their halting of the litigation, dismissal of accounts impacted, refunding of customers and still has not resumed. Well not me or most attorney's can walk into a court house in this country and in five minutes have lists and lists of them and everyone is copying the full file.
Also, the SEC and DOJ in there own statements said there were no criminal charges because of them being "prominent members" The SEC focuses on investor fraud and jumps to action when investors complain or are hurt. They just even gave Jamie Dimon a 74% raise for his successful year of defrauding millions of Americans paying a tiny find and keeping the rest but he doesn't act alone the VP level employees that did this hands on daily are still employees there with raises. Well at least that has prompted countless current and former employees to come forward.
Some recent successes The California AG who filed a lawsuit against Chase last Spring for these actions successfully beat their motion to dismiss a couple of weeks ago and the account is proceeding with already over 100k victims identified.
The Mississippi AG filed a major lawsuit last month that is extremely detailed and was really done right with an 18 month long investigation working closely with me and many other former employees offering themselves up for subpeonas and working hard to testify but also really explain in detail the processes and systems allowing the AG office to them have detailed information of what to seize from the bank as stated in the suit over 100k documents supporting the claims made. That suit could really apply to nearly all states but with some states having huge numbers of victims. Keep an eye out for more government lawsuits to come and part of them demanding the victims be made whole. Below are just a few link to some of the articles I have worked on with investigative journalists to bring awareness, educate consumers and show regulators how bad the problems are. I would expect to see a lot of announcements this year about other banks and entities with the identical allegations and the confirmations of those allegations. .
No law was made that "prominent member" are immuned from the law and hopefully never is but that is what has happened her and in thousands of cases over the years. I likes how Elizabeth Warren said it "when did TBTF" turn into TBTJ" well it was confirmed without a doubt it did in a big way in 2013. Elizabeth you had it right please enforce it you have me and so many others behind you and anyone pushing back I would even be willing to stand with you and I know I can knock out any excuse I lived this from all sides. but me and other "whistleblowers" like me (by the way I have yet to meet a high profile financial whistleblower for any banking or financial fraud that even knew there were whistleblowing they thought they were just doing their job according to the law and serving and protecting their customers, employees, the company and shareholders.) Investors profiting off from the intentional fraud and not complaining because they weren't damaged and therefore no real action taken is not acceptable now or ever. That is intentionally making you the consumers and customers and all people the collateral damage making a few rich and it not anywhere near being over as so many CEO's and either delusional media reporters and some regulators have claimed. Perhaps it is wishful thinking but the "please be good in the future and cross your fingers" I think it has been proven beyond a doubt is has not and will not work. This country and a lot of the world has been watching and waiting for this for most of the past decade no more chances no more waiting act now this needs to be done in 2014 with no excuses or promises. Whistleblowers do not get paid for this difficult seemingly never ending job with no paycheck or insurance. Whistleblowers like me and so many other former bankers that are working hard for you and you just don't know their name (I seem to be the most vocal) but millions of bank employees have watched those of us that our work did go high profile lose everything, they are usually uemployeable not many people want to hire someone that costs their former employer billions, but we have families and need to live. There is a myth that the "whistleblowers" you read about make millions and are set for life. There are a lot of misconceptions about whistleblower programs the majority lose everything and never see a penny let alone even made whole or anywhere to just a middle class lifestyle. I want to finish this fight but need the help of the people so that I can continue to fight for you . All donations help.
Here are some links of the countless stories I have worked on with writers to educate and empower people, regulators and courts to stop the fraud and help the people.
I have attached the full government filing and I waived my rights to stay anomonys so the information does not get buried there was never anything in this for me I just refused to commit fraud at the expense of people to keep my job. Here are just some of the main articles on me you will notice a great deal is not public yet especially the connection with Chase owning NCO and SST and running litigation for the other banks. All of this proven up and a major class action with it we just survived the motion to dismiss.
NY Times Article that I accidently coined the term "robosigning"
http://www.cbsnews.com/8[phone redacted]95_[phone redacted]6150/feds-probe-jpmorgan-chase-credit-card-collections/?fb_comment_id=fbc_10150652312086166_21202916_1
If you have been sued by a bank, collection agency, attorney network or credit card company and the balances or dates seem wrong or the account was sold you may be a victim. Go to my site and file a complaint with your states Attorney General, the FTC and CFPB. Your feedback and complaints provides the resources needed to stop this economic treason to our economy and hurting families. Please send me your stories the more I have the more people I can help.
- Don Rake
- Leah Dean
- Natalie Monteforte
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