From “Front & Center”, by Bud Burrell
Yesterday, in scanning terrorism sites, I found a link to The Terror Finance Blog, and bells went off. Searching back, I found that they had referenced the twice convicted felon Amir Elgindy as a primary example of such market related actions. I then remembered that the DOJ had indicated that they expected to file as many as 35 to 40 additional indictments in this case, which involved bribery of FBI agents, which is normally a very hot button with the DOJ. Typically, not a single superceding indictment was forthcoming.
The DOJ could not have made this case without finding that the SEC was in it up to their collective duffs. Despite this, not one SEC official was indicted, despite plentiful evidence of their collusion with Elgindy, attorneys Weiss and Lerach, and many more. Hard evidence was the foundation of the conviction of Elgindy, in the form of clean transcripts of the actual web site he ran in support of his shorting syndicate. This site demonstrated the involvement of many of the major hedge fund operators, market makers, and more.
The most repeated and glaring reference I have made with regard to illegal naked short selling has been to its role as a tactical tool to launder money and evade taxes, moving money offshore for various terrorist enterprises, including organized crime, terrorists and narco-terrorists, domestic and international. I have proved this over and over again, in case after case, only to be met by a black hole of silence from our authorities. I have shown them link after link to name after name, all of them repeatedly involved with one another is hundreds of transactions. The silence of the response has been deafening. [entire post]