Financial Fraud. How It Works. The Truth behind the Madoff Investment Scandal

How is it that Chase Manhattan and JP Morgan did not know?” he wondered. “Chase and then JP Morgan Chase held Madoff’s account there, and he put all of the money into a single account. There was up to $17- to $20 billion in that account. They made a fortune off of him. Somehow or other, they never took into account that he wasn’t receiving or sending any money to brokers. Somehow, Chase and Morgan never noticed that money wasn’t coming into this huge account from stocks and other investments. If he had been trading securities and trading options, he would have to have been sending money to brokers and they would have had to have been sending money to him. It is unbelievable.”

Velvel said that it is also difficult to understand why there was no external custodian in place for those accounts and the disgraced financier was allowed to act as his own custodian. He said that the big firms which sent business to Madoff, and in turn were making a fortune from feeding clients to him, received the de facto equivalent of bribes.'

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Whistle Blower Comes Forward With Solid Proof The Price Of Gold And Silver Is Being Manipulated By Major Financial Institutions

For a long time many of us have had very serious suspicions that the prices of gold and silver were being highly manipulated. But now, thanks to the mind blowing testimony of one very brave whistle blower, the blatant manipulation of the world gold and silver markets is being blown wide open. What you are about to read below is absolutely staggering. Once the American people learn how incredibly corrupt the world financial system is, it is going to change everything. The government that we are all trusting to guard the integrity of the financial system is failing to do that job. It turns out that the Commodities Futures Trading Commission has been sitting on solid evidence that the elite banking powers have been openly and blatantly manipulating the price of gold and silver. Even though they were basically handed a “smoking gun”, they have done absolutely nothing with it. But now the information has gone public and the CFTC is red-faced.'

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The Latest Gold Fraud Bombshell: Canada’s Only Bullion Bank Gold Vault Is Practically Empty

Continuing on the trail of exposing what is rapidly becoming one of the largest frauds in commodity markets history is the most recent interview by Eric King with GATA’s Adrian Douglas, Harvey Orgen (who recently testified before the CFTC hearing) and his son, Lenny, in which the two discuss their visit to the only bullion bank vault in Canada, that of ScotiaMocatta, located at 40 King Street West in Toronto, and find the vault is practically empty. This is a relevant segue to a class action lawsuit filed against Morgan Stanley, which was settled out of court, in which it was alleged that Morgan Stanley told clients it was selling them precious metals that they would own in full and that the company would store, yet even despite charging storage fees was not in actual possession of the bullion.'

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