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The Voices Grow In Number And Strength
"No country -- certainly not the United States -- is free of corruption. In the real world of limited
resources, we know that we can only detect, investigate and prosecute a
small percentage of those officials who are corrupt." -- U.S. Attorney General John D. Ashcroft
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I remain convinced that there is no more important area in the fight against corruption than the challenge for us within the law enforcement and justice sectors to keep our own houses clean." -- U.S. Attorney General John D. Ashcroft
"It appears that the
watchdog needs watchdogging". - Exact words of a Federal Judge describing the U.S. Trustees at the DOJ, whose role is to act as the watchdog against crime and corruption.
"A Pack Of Dogs"- Another Federal Judge describing the U.S. Trustees.
"Competition for Big Cases Is Corrupting the Bankruptcy Courts" UCLA Professor and renowned expert on bankruptcy in the U.S.A.
Bankruptcy Misconduct.Com was created out of concern about the current state of federal bankruptcy practice. This website is part of an ongoing effort to illuminate in a clear and direct way:
operations and activities of various governmental agencies as they act, or fail to act, to police, enforce, and fulfill important Congressional mandates related to the integrity of the bankruptcy process as well as applicable rules of professional and judicial conduct.
inherent and systemic problems with the current practices of professionals involved in the bankruptcy process due to the self regulation and self policing mechanisms which purport to regulate, albiet in secret, the actions of lawyers.
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BankruptcyMisconduct.com has been directing the public's attention to peculiar circumstances in a number of bankruptcy cases. These cases are exemplary in their demonstration of the need for a closer scrutiny by the media, the business community, and of course the Justice Department. These cases include:
eToys Inc. et al. USBC Delaware, Nos. 01-706 etc.
AmmoCore Technology Inc. et al. USBC Delaware, No. 06-10318
Worldcom, Inc., et al. (included MCI) USBC Southern District of New York No. 02-13533 (AJG)
- The " Asbestos Ring " involves a number of U.S. federal bankruptcy court reorganization cases. These cases have in common: the State of Delaware, the use of asbestos litigation by injury lawfirms against large companies, astounding mega fees paid by the debtors to bankruptcy professionals, a locus of several bankruptcy industry firms, and most significantly the emerging evidence of a pattern of fraud by one or more bankruptcy professionals.
CH II American Inn Inc. USBC (Oklahoma?) Bk-85-2221-A. Numerous possible conflict of interest, ACPOC Syndrome. Will a nation, whose freedom and prosperity would surely end but for the dedication and sacrifice of its armed forces, survive if the honor of its warriors and the Constitution for which they risked their lives to defend, are defamed and disrespected in its Courts by profiteering brethren of the bar?
Advocacy & Resources Corporation USBC, Middle District of Tennessee, Cookeville Division, Debtor Case N0. 206-03067 Chapter 11, Judge Lundin Presiding.
"Rick" USBC, Northern District of Illinois, Western Division, Case Number 99-50046, Judge Manuel Barbosa presiding. Issues related to the conduct of the private Trustee: Thomas Lester and his law firm Hinshaw & Culbertson, include a closed bankruptcy case reopened under peculiar justification, the forced sale of a house occupied by a single parent with two children for $138,389.59 in gross proceeds, less $112,557.87 for the cost of sale. Allegations include that a prior valid court order of payment to the divorced spouse was ignored, as well as the homestead exemption. Upon information and belief, a bankruptcy trustee or other professional is not entitled to having fees paid that did not or could have benefited the estate.
John Deep USBC Northern Distric of New York, Nos. 02-11552, 02-11745, and 02-11755.
Mr. Deep is well known for his creation of Aimster, and was apparrantly represented by the renowned attorney
David Boies, who in turn is reported to have earned fees representing clients including Microsoft, the presidential election dispute on behalf of Al Gore, and entities associated with the RIAA.
WebSci Technologies, Inc. & Ramkrishna S. Tare USBC District of New Jersey Nos. 02-38258 (RG) & 02-38316 (RG)
Incredible allegations of undisclosed conflict of interest, false affadavits, conspiracy, and more. Bogus order overturned on appeal. Watch this case, we will and we won't let its ultimate resolution be a quiet whisper.
Baron's Stores, Inc. USBC Southern District of Florida No. 97-25645 BKC-PGH
The Leslie Fay Companies, et al. USBC Southern District of New York No. 93-B-41724(TLB)
Stone & Webster, et al. USBC District of Delaware No. 00-2142 (PJW)
Aureal, Inc., USBC Northern District of California No. 00-42104 (T)
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Bankruptcy is Big Business
The Bankruptcy Investment specialty has become “big business” and has attracted a wide variety of players including many hedge funds. For example, in the largest U.S. bankruptcy case of MCI / Worlcom there have been at least 50 entities involved in claims transfers encompassing hundreds of millions of dollars. As the scope of the claims trading activity has increased, so too has the potential for corrupt practices and actions involving the professionals retained in those related proceedings. Despite the rampant claims trading involved in large bankruptcy cases, there are essentially no precautions in place to avoid corrupt practices and actions involving bankruptcy professionals, other than the faith by the Department Of Justice and the Judiciary in the honesty of the attorneys employed in these million and billion dollar Mega Bankruptcy cases, that these lawyers' actions and sworn declarations indcluding mandatory disclosure of conflicts of interest will reflect their supreme loyalty to the bankruptcy estate, and not to conflicted clients.
We
hope that the information released by this website will significantly
contribute to public understanding. Perhaps non lawyer oversight of these various
governmental and quasi-governmental agencies and professionals is due. Particularly troubling is these agency’s and professionals activities, policies, and regulations
relating to corruption in bankruptcy practice and attorney conduct in general.
Bankruptcy Misconduct.Com was originally created by Next Factors, Inc. (abbreviated "Next") because of concern about the current state of federal bankruptcy practice. Next was a small, private firm engaged in the business of purchasing and accepting assignments of claims against debtors in large bankruptcy proceedings, a practice commonly referred to as claims trading, distressed investing, or vulture investing.
In stark contrast with certain of its competitors, Next was not affiliated with current or formerly practicing bankruptcy lawyers or professionals, hedge funds, brokerage firms, corporate finance professionals, or relatives of any of the above. Furthermore, Next did not give money to any bankruptcy professional, either directly or through any affiliate, at the same time when such professional had a duty to be adverse to Next in the context of any bankruptcy proceedings. We can not understate how significant, if not unique, is this absence of a conflict of interest by a vulture investor.
Bankruptcy Misconduct intends to participate in the sponsorship of one or more scholarship awards where students can submit written material regarding proposed topics. We contemplate that winning students entries will receive award certificates may also receive a cash awards which can be used in furtherance of their the study of law, economics, or government.
An
additional purpose of this site is to enable all parties to assemble
and converse about bankruptcy misconduct in general as well as on a
number of specific issues. Remember to view our Bankruptcy Misconduct Forum where you can participate in ongoing discussions and suggest your own new topic for discussion and analysis.Write Comment (0 Comments) |
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We Demand The Appointment Of A Special Prosecutor:
To Investigate Eliot Spitzer's Long Reign of Abuse of Prosecutorial Discretion and his Failures To Pursue Organized Crime Involving his Associates.
Every action of Eliot Spitzer as a prosecutor is necessarily called into question.
Every failure to act by Eliot Spitzer is even more suspicious and must be investigated.
The power to ignore a crime, the power to allow a family of Organized Crime to operate without government intervention, is the single most valuable power anyone can hold over an economy. By failing to prosecute organized crime, a prosecutor grants monopoly profit power, an amazing subsidy of the criminal organization financed by taxpayers. Clearly, Spitzer allowed at least one Prostitution Ring to thrive while intentionally failing in his duty to turn them in and prosecute them. (Eliot Spitzer made another big lie when called his criminal conduct "personal failings":his duty was to turn them in, and he engage in further crime by Title 18 U.S.C.§1004 Misprision of Felony.)
Don't let Spitzer and his Neo-Mafia family members of the media spin the truth here: Spitzer was caught having business with and protecting Organized Crime. We need a special prosecutor to examine Spitzer's conduct as prosecutor and every failure to prosecute his Neo-Mafia brethren.This partnership with and protection of Organized Crime by Eliot Spitzer is the one supreme significance of the initial stages of the Federal financial investigation. We can not allow the investigation of Spitzer to be cut short merely because Spitzer eventually resigned as Governor of New York.
Given the years of double standards, one for lawyers and corporations and another for the people, we have learned not to be too surprised by most of the outrageous elements of the portion of Eliot Spitzer's conduct which has been revealed so far:
There is no surprise that Eliot Spitzer was a corrupt prosecutor and attorney general.
The corrupt nature of Eliot Spitzer was reported before his election to Governor of New York by bankruptcyMisconduct.com in a November 2006 press release which revealed a specific example of his abuse of prosecutorial discretion when protecting his associates in the Neo-Mafia.
Some may find it a surprise that the Feds who uncovered Spitzer's crimes did not quietly bury them again.
We do not find it surprising that there exist proud public servants
who honor their sworn oaths to the Constitution of the United States
and ignore implicit and explicit threats to themselves, their careers,
and their families as they tenaciously expose and eliminate corruption.
Some may find it a surprise that Eliot Spitzer had the chutzpah to withold his resignation, holding the people of the State Of New York hostage as he selfishly sought a no-prosecution deal.
But readers of bankruptcyMisconduct.com are learning that Mr. Spitzer's expectation that as a former DOJ employee he should hold immunity from Federal investigation and prosecution was reasonable and appropriate in light of such de facto policy established by the highest levels of our DOJ.
Some may find it a surprise that a man who held extraordinary wealth, who pursued and then attained
great fame, would then deem himself above the law and above morality.
That Eliot achieved his fame through as a prosecutor at the Federal and highest State levels strike some as ironic. At the same time, other ordinary citizens with an awareness of the pervasiveness of government corruption, merely see it as the explanation.
Some may find it a surprise, or at least offensive, that Eliot Spitzer would pay a hooker more money for 8 hours of services than he allowed a struggling single mother of four on public assistance to receive over the course of a year to cloth, feed, and educate young citizens.
Eliot Spitzer simply believes that the sexual services he receives from a 19 year old prostitute over the course of a few hours are far more valuable than the efforts of a single mother raising her children.
There is no surprise that Spitzer had close friends who ran hedge funds, and used the name of at least one of them, George Fox of Titan Advisors, LLC, as cover when booking a hotel.
There is no better "pro" to lie for you than a hedge fund manager: the capo of unregulated money funds for the super-rich and the Neo-Mafia.
There is no surprise that hedge funds would be connected with corruption of government officials.
The great surprise which the media, pundits, and politicians should be talking about:
Eliot Spitzer was in bed with organized crime
... and thus
All Official Conduct Of Spitzer Is Suspect And Must Be Investigated
No rational person could imagine that one day, Eliot Spitzer decided to login into a prostitution website, or that Eliot walked blindly into some whore house:
"Hi, I would like your services. One problem: I am Eliot Spitzer and would be recognized by anyone who sees me in your prostitution ring so please just informally assure me that your peeps will keep this private"
Yeah, right. Consider who the man was, his experience, and the actions he performed as a prosecutor. This man was a Federal prosecutor, was New York's Attorney General, the most senior law enforcement officer of the State of New York, this man undertook bold and radical prosecutions never before seen, Governor of the State of New York. Eliot Spitzer himself prosecuted organized crime including prostitution rings
None of us can believe that Spitzer just decided one day to check out the Emperors Club. We know better. None of us can honestly believe that Spitzer could think he would not be immediately recognized and blackmailed, unless... Spitzer was dealing with an organized crime family that he trusted.
We already know that Eliot Spitzer had an "intimate relationship" and trust with this one Prostitution Ring, only an ostrich could not see that Spitzer would have connections with relations of this Prostitution Ring, that the prositution ring was merely one branch of the Neo-Mafia.
A Special Prosecutor Must Be Appointed To Investigate Spitzer's Legacy Of Protectionism of his Organized Crime Relations
Eliot Spitzer has a Prostitution Ring all over his face.
Eliot Spitzer has the crimes of Worldcom all over his face.
Eliot Spitzer provided safe harbor to a Bankruptcy Ring.
Eliot Spitzer provided safe harbor to the Asbestos Ring .
Eliot Spitzer provided safe harbor to a Bar Association Ring .
Eliot Spitzer was a corrupt public official owned by the Neo-Mafia.
Eliot Spitzer attacked the competitors and opponents of his Neo-Mafia brethren under Color Of Law.
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PittLaw: Look At New Federal Judicial Misconduct Rules