Allen C. Puwalski, Backdating, California, Chris Flowers, David J. Wermuth, Eric J. Rosen, falsified documents, forged documents, fraud, Goldman Sachs, hedge funds, housing foreclosures, IMB HoldCo, investors, Jay J. Miller, John J. Oros, Joseph Otting, Kamala Harris, Kamala Harris California AG, Kamala Harris California AG failure to prosecute OneWest Mnuchin, misconduct, Obstruction, One West, OneWest directors, Paulson, penal code, Ravi P Yadav, S. Kenneth Leech, Soros, Trump, Trump Administration
Kamala Harris was California AG from January 3, 2011 – January 3, 2017. She failed to prosecute Mnuchin’s OneWest despite recommendation that she do so by her own office: “OneWest obtained the servicing and/or beneficial rights to tens of thousands of troubled loans throughout California… OneWest has foreclosed on approximately 35,000 California homes and initiated foreclosures on approximately 45,000 more… OneWest recorded documents that were not properly notarizied, initiated non-judicial foreclosures without proper authority… The investigation was hampered by our inability to subpoena OneWest, by OneWest’s obstruction… We were therefore limited to publicly recorded land records, a few hundred incomplete OneWest files obtained from LPS before OneWest objected and documents we were able to obtain from foreclosure trustees used by OneWest…. Despite the limitations on the investigation, we uncovered evidence suggestive of widespread misconduct… We therefore recommend that the Attorney General authorize the filing of a civil enforcement action against OneWest.”
Throughout the document we hear about OneWest’s obstruction of the investigation, and the inability to subpoena OneWest. It reads like a sort of prequel to attempted Congressional Oversight of Trump. And, indeed, Mnuchin serves in the Trump administration.
Image from back when Mnuchin was Trump’s nominee for Treasury head.
Note the investors who are listed in the document for 2011. More ownership information found toward the blog post bottom. Note Kamala’s fellow Asian Indian, Ravi P Yadav. While it’s unclear if he is a fellow Brahmin, like Kamala, he’s filthy rich enough that she might not care.
Some of the behavior classifies as felonies:
Heather is reportedly Mnuchin’s ex wife: https://www.followthemoney.org/search-results/SearchForm?Search=Mnuchin https://www.followthemoney.org/news/in-the-news/show/2709
Case summary: “Memo Shows Evidence of Illegal Foreclosure Practices at OneWest Bank While Steven Mnuchin was CEO: CA Attorney General Staff Cited Evidence Suggesting “Widespread Misconduct”; Groups Call for Senate Investigation Prior to Confirmation Hearings By California Reinvestment Coalition” January 3, 2017, 01:30:33 PM http://web.archive.org/web/20170424142447/https://yubanet.com/california/memo-shows-evidence-of-illegal-foreclosure-practices-at-onewest-bank-while-steven-mnuchin-was-ceo/
OneWest Bank “was established on March 19, 2009 by IMB Holdco, a holding company owned by a consortium of private equity investors led by Steven Mnuchin…“https://en.wikipedia.org/wiki/OneWest_Bank
Various related links:
From 2009: “Overview of the Consortium:
* IMB Management Holdings LP has formed IMB HoldCo LLC, a thrift holding company that will wholly own IndyMac FSB.
* It is led by Steven Mnuchin who will be Chairman and Chief Executive Officer of IMB HoldCo.
* Mr. Mnuchin is currently Chairman and Co-CEO of Dune Capital Management LP, which was founded in 2004. Prior to that he spent 17 years at Goldman Sachs Group Inc., where he was a partner and a member of the Management Committee.
* Terry Laughlin will be the President and CEO of the new thrift acquiring New IndyMac. Most recently, Mr. Laughlin was Chairman and CEO of Merrill Lynch Bank & Trust, Co., F.S.B. Prior to joining Merrill Lynch in 2005, Mr. Laughlin worked at Fleet Bank N.A. for 14 years where he was an Executive Vice President and was a member of the Executive Committee.
* J.C. Flowers & Co. is a global investment advisory firm that specializes in the financial services sector. Founded J. Christopher Flowers in 1998, the firm has invested over $12 billion in the industry.
* Paulson & Co. is an investment advisory firm that specializes in merger arbitrage, event-driven and distressed investing. Founded in 1994, the firm has approximately $36 billion in assets under management.
* MSD Capital, L.P., a private investment firm formed in 1998 to exclusively manage the capital of Michael S. Dell and his family, currently manages more than $10 billion in assets in a broad range of areas including private equity, real estate and the public markets.
* Stone Point Capital, manager of the Trident Funds, is a global private equity firm based in Greenwich, CT, that has raised more than $10 billion in committed capital to make investments in the global financial services industries.
* SSP Offshore LLC is a private investment fund focused on buyouts, buildups and growth equity investments and is managed by Soros Fund Management which is principal investment advisor to a number of funds which have a multibillion dollar aggregate asset value.
* SILAR MCF-I LLC is an affiliate of Silar Advisors, LP, founded by Robert Leeds in 2006. Silar provides liquidity for consumer, commercial and real estate assets.
* Merrill Lynch was exclusive financial advisor to the consortium.
1 Based on first lien mortgages that were 60+ days delinquent at Program initiation after deducting ineligible loans. Ineligible loans include those with imminent foreclosure dates, borrowers in bankruptcy, REO, loans with pending modification offers or recent modifications, legal impediments, and ineligible loan types. Last Updated 1/29/2009” https://archive.li/https://www.fdic.gov/news/news/press/2009/pr09001a.html