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Forum Post: JP Morgan Chase Accused of 'Brazen Bankruptcy Fraud '

Posted 10 years ago on Jan. 19, 2012, 4:22 a.m. EST by Scout (729)
This content is user submitted and not an official statement

and the band plays on....

" LOS ANGELES (CN) - JPMorgan Chase routinely fabricated documents to deceive bankruptcy judges, going so far as to Photoshop documents to "create the illusion" of standing "in tens of thousands of bankruptcy cases," according to a federal class action. Lead plaintiff Ernest Michael Bakenie claims that Chase's "pattern and practice of playing 'hide-and-seek' with debtors, judges and other bankruptcy players" bore rich fruit: that Chase secured motions for relief of stay and proofs of claim in 95 percent of its cases. "




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[-] 1 points by MonetizingDiscontent (1257) 10 years ago

-Great Post, Scout- Hey, looks like Max Keiser has linked to the story as well. I hope all these scumbags find themselves a nice corner in a jail cell somewhere, SOON.

LOS ANGELES – JPMorgan Chase Routinely Fabricated Documents to Deceive Bankruptcy Judges, going so far as to Photoshop Documents to “Create the Illusion” of Standing “In Tens of Thousands of Bankruptcy Cases,” According to a Federal Class Action


-January 19, 2012-

::::::::::::::::Keiser Report: Scam On Epic Scale (Episode#238)::::::::::::::::

(((Video))) http://www.youtube.com/watch?feature=player_embedded&v=EB319yIHZdE

-January 19, 2012-

In this episode, Max Keiser and co-host, Stacy Herbert, discuss 419 Scams & Tim Geithner's Gimp.

(((Scroll to min. marker 13:13 in video))) In the 2nd half of the show, Max talks about MF-GLOBAL, Wealth Confiscation, A Bank Holiday, & CME Dodging Responsibilities in MF-GLOBAL Collapse and to its customers with financial blogger and semi-retired Wall Street executive Warren E. Pollock.

[-] 1 points by Builder (4202) 10 years ago

Wow, this is very interesting.

Keep us informed, if you don't mind.

I would be very concerned if this doesn't actually lead to some form of prosecution.

That would indicate that the whole system is corrupt beyond belief.

[-] 0 points by Scout (729) 10 years ago

I can give you that answer already and I would bet you money that I am correct in that there is more chance of a camel passing through the eye of a needle than any of these banksters getting what they deserve. You only need to see what is not happening to Jon Corzine because he is Obama's friend.And this is only a civil action. Why isn't the attorney general or the Justice Department prosecuting based on this evidence?

[-] 1 points by Builder (4202) 10 years ago

Dissapointing to the max. Can we all just keep throwing this kind of evidence out to the public without anything happening?

Are the American people now so complacent that nobody really cares when they are getting bent over and rammed up the rear end, as long as they got fast food and cable tv?

I'm speechless about this.

[-] 0 points by Scout (729) 10 years ago

" I'm speechless about this." so am i !!

[-] 1 points by Spade2 (478) 10 years ago

Nice Bible reference


[-] 0 points by Ninetyninenot (-57) 10 years ago

Sure, people that buy houses with borrowed money should simply keep them once they've stopped repaying their loans. Yeah, that's the side to be on.

[-] 0 points by Centrist (3) 10 years ago

Key words "according to a federal class action" and "Lead plaintiff claims". In the comments these are taken as evidence when it is actually allegations. Due process means chase is innocent until proven guilty. And keep in mind the U.S. legal system encourages lawsuits as a way of furthering self interests. These types of suits are a dime a dozen, and few ever make it to a ruling or settlement. It's impossible to say if this case is one of those few at this point in the process.

Just trying to offer some balance to the conversation.


[-] 1 points by Josepharthurroberts (1) 10 years ago

The evidence we have derives from a database of 35,000 bankruptcy matters tracked since 2009 in the Los angeles area bankruptcy courts. The evidence is in the public record for all to see. Every major lender is engaged in a similar practice. The key is sampling and organizing the documents so as to show the pattern and quantify the financial cost to borrowers and cost savings to defendants. Not to mention the damage to the integrity of the legal system. Bakenie attorney Joseph Arthur Roberts , homelawlawyers.com