est. 2007

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The Wells Fargo Fraud and Connection

The following video features Senator Elizabeth Warren – who sits on the US Senate Banking Committee – questioning Wells Fargo CEO John Stumpf. The BU household believes that it should be made mandatory viewing for our politicians, leaders at large, regulators et al. They should juxtapose for example our non vibrant (defunct?) working committees of…

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Senator Elizabeth Warren
Senator Elizabeth Warren

The following video features Senator Elizabeth Warren – who sits on the US Senate Banking Committee – questioning Wells Fargo CEO John Stumpf. The BU household believes that it should be made mandatory viewing for our politicians, leaders at large, regulators et al. They should juxtapose for example our non vibrant (defunct?) working committees of parliament e.g. Public Accounts Committee, Committee of Privileges and other with those of the US Senate.

Based on the latest it appears the cross examination of Stumpf by the Senate Banking Committee has yielded a good result.

Wells Fargo CEO forfeits $41 million as company launches probe

Here is a relevant comment posted by PUDRYR:

Meanwhile, back at the ranch, another precedent that is notable while not instructive.

“Board members at Wells Fargo have used the company’s clawback policy to recoup millions in compensation from top executives in the wake of a massive customer scam.”

“CEO John Stumpf will forfeit $41 million in stock awards, not receive a salary during an investigation into the scandal and have no bonus for 2016, the bank’s directors said Thursday evening.”

“Beyond the CEO, the clawback will also affect Carrie Tolstedt, a retiring community banking executive who oversaw that department where thousands of workers opened fraudulent customer accounts to meet quotas.”

Would that the Government of Barbados and, wishfully, the incoming Leader of the Opposition could, as the next duly elected government of Barbados exercise this option through the powers vested in our laws, and which our Director of Public Prosecutions selectively administers depending on if you a not a Guyanese or a body named Bark at a Man, and prosecute these ministerial teifs and robbers.

But that would set a precedence known as the Haman’s gallows

Full hearing – http://www.banking.senate.gov/public/index.cfm/hearings?ID=B80F9B81-4331-4F95-91BC-718288EC9DA0

66 responses to “The Wells Fargo Fraud and Connection”

  1. pieceuhderockyeahright Avatar
    pieceuhderockyeahright

    @ whistleblower

    Your posts brings us back to our shores where one can be sure that our woman hater? Chad 45 WILL NOT VENTURE TO SPEAK ILL OF ANY ONE, be they man or woman or in betweener.

    Fellers like Timothy represent what is the genetic mitochondrial disease of Barbados the cancer that has metastasized and now, these 25 years hence, he has been with EGFL for quarter of a century, and now the entity is his business, lock, stock and barrel.

    We belong to the group of pretend warriors who can prance bout here pun BU and excoriate Kim Jung, Putin, Trump and everybody everyplace else

    I does watch it Whistleblower

    Fellers does get heah and cuss de Pope and curse de Catholics and David Durant de Apostle who say dat the imp from hell one fatted calf Thompson will not die, but you notice a ting doah?

    Not one uh we scvunts got de balls to cuss Allah or and Middle East religion because, like me, we adopt a pantheism of noticeable convenience.

    As a whistleblower who received $$ from EGFL and paid the head honcho $25k kickback did you keep a record of this crime? and do you have evidence of the transfer of money to CEO Simmons? and most importantly are you prepared to go public with both ?

    Jes hypothetically suppose dat de ole man was to say, under cover of my nom de plume, dat I was sleeping wid say, the anemic? looking erstwhile professional model whom some purport to be a former call girl.

    What would normally ensue Whistleblower? following my revelation?

    De first ting is dat you going say dat I is a liar, and dat you want evidence Of de smoking gun right?

    You going wat videos and semen and effluent and DNA.

    Given de timbre of dis Wells Fargo article and ting, is you prepared to be more specific? Heheheheh?

    Chad, we de BU-ians will expect you to tie this crime to some woman, probably de former Central Bank Governess, Marion whatever I forget her name cause we dun know dat you going link it to some female dat do dis nasty ting and perverted Timothy heheheheheh (can dat verb perverted be used thusly?)

  2. pieceuhderockyeahright Avatar
    pieceuhderockyeahright

    On dat model be Melania or Anemia I forget de name but de ole man ent mean Ivanna ok?

  3. Well Well & Consequences Avatar
    Well Well & Consequences

    Piece…Whistleblower may not have to worry about all of that…the white collar criminals and some ministers also like to greedily involve themselves in drug dealing, gunrunning, money laundering, strip clubs and human trafficking, these crimes tend to go hand in hand……and as someone has decided to rid the island of drug dealers….how far is that jump to white collar criminals….starting in the insurance sector.

    Someone might have decided the island is long overdue for a clean up and may be looking at it as a public service, since both political parties are too corrupt to do anything but make a horrible much situation worse…for the black majority citizens.

    Wuh ya tink Piece…lol

  4. Bush Tea Avatar
    Bush Tea

    @ Piece
    Why should you expect whistleblower to be the one to bell the cat?

    What citizens owe to the country is to expose these scams and vermin to public scrutiny via media such as BU. It then becomes the DUTY of those who have accepted the responsibility …AND ARE PAID TO DO SO.. to investigate and take appropriate action.

    Does the EGFL not have a Board of Directors?
    Does EGFL not have auditors?
    Is there not a Minister of Government and ministry with responsibility?
    Don’t we have a DPP?
    Is there not still a police fraud squad?

    Why the hell should individual VICTIMS be responsible for being vigilantes?

    Look carefully at those Caribbean countries that have been destroyed by crime, and what you will see is the establishment of a culture of SECRECY and inaction.

    In Jamaica, the crooks, drug dealers and murderers established a culture of ‘anti -informers’, (via the reggae artists) where it became a NO-NO to report criminal activity….. This is 80% percent responsible for their current plight…
    In Trinidad, Criminals have been allowed to intimidate witnesses and honest citizens to the point where the court is a joke…and where these gangs now run things…

    What Barbados needs MORE THAN ANYTHING else, is openness – even to the point where it hurts…. Where citizens can EXPOSE all the shiite – not only on the dishonest crooks, but ALSO on the lazy, dishonest, corrupt and incompetent AUTHORITIES who have been failing to do their duties….

    Perhaps we do need a naked departure from the norm…..
    Who is the Chairman of EGFL…?

  5. Bush Tea Avatar
    Bush Tea

    …look at who is the Chairman of EGFL’s Board Terrence Thornhill who is Leroy Parris right hand man.
    ++++++++++++++++++++++
    We cannot be ff’ing serious…..!!!
    We would be worse than brass bowls….
    So who is the minister that appointed this known crook, associate of the Leper, and architect of the CLICO scam to this position…?

    Which audit firm works for EGFL?

  6. Well Well & Consequences Avatar
    Well Well & Consequences

    As we know Bushman…there is no whistleblower protection for innocent people in Barbados…If they go to the police or DPP at 9:00am with names….by 9:0am these same friends and associates of the white collar criminaks will call up their associates and give the names of the people complaining to the law…about their white collar criminal friends.

    If they go to Fruendel and the other ministers, they will send them to the DPP…dead end…something else must be done to break that cycle of criminality involving DPP, insurance sector, statutory agencies, government ministers and others.

    Why ya think the first thing comes out of the likes of Peter Harris’ mouth is they can’t do anything about him in Barbados….no matter what he does to the citizens…are they not still protecting Leroy Parris from a prison sentence…helping him launder money in the central bank.

    Fruendel would not even tak about that, he still thinks he is ignoring a stupid electorate.

  7. Piece Uh De Rock Yeah Right - INRI Avatar
    Piece Uh De Rock Yeah Right – INRI

    @ Bush Tea

    De ole man was trying to see if i could answer you questions by “letting google be my friend” heheheheheheheh

    I went to the EGFL site but dem ent got no financial reports information from 1998 when dem was formed

    But dere is a statement which you might like “…EGFL was established as a private sector led institution in which Government would play a catalytic role by offering tax concessions and seed capital, while the private sector would play an active role in the capitilisation and the governance of the institution…”

    So you see why Whistleblower blowing “air up we pooch” so to speak?

    I agree with you that he is a victim but he is also a part of the crime since I do believe that he had to get something to be able to give something whu you think?

    My nex internet search brought this

    https://books.google.com/books?isbn=1452774102

    International Monetary Fund – 2007 – ‎Business & Economics

    … (SHIF) is managed by Enterprise Growth Fund Limited, and financed through the … Intimate Hotels of Barbados (Intimate Group) to assist with the refurbishing of their … financial statements which must be audited by an independent auditor.”

    Dat is whu one search give de ole man goadies to find out who the auditors are. The only item returned via *** that is a specialist search engine de grandson give me is “Energy audit to be conducted by a Smart Fund Partner” which refers to the auditors appointed for beneficiaries that apply for their smart fund grant.

    So Owen and Mia’s Crew appoint Timothy to EGFL as “CEO for Life”, and Fumbles and he crew appoint Terrence as he “boss” so to speak, cause Timothy ent got no boss.

    We really effed doah Bush Tea, come leh we wuk up and have a good time…

  8. Exclaimer Avatar
    Exclaimer

    “A CANADIAN COUPLE who had been accused of laundering more than US$5.5 million, had the charges discontinued when they appeared in the Holetown Magistrates’ Court on Friday. ”

    http://www.nationnews.com/nationnews/news/87639/charges-dropped-couple

  9. Well Well & Consequences Avatar
    Well Well & Consequences

    All those charges could not have been false…, the prosecutors are lousy, probably “lost” the documents.

    As people are saying happened in a recently deceased’s , 2 days, drug case.

  10. Expose Local White Collar Avatar
    Expose Local White Collar

    FRANK BELGRAVE, ENTERPRISE GROWTH FUND, FAKE COMPANIES, FAKE LOANS

    Further on Timothy Simmons and the Enterprise Grown Fund debacle. Well, what has not been disclosed is Frank Belgrave’s very close buddy, the one he travels (used to) overseas with to enjoy ‘ball’ games, is the CEO of that fund and who gave Frank Belgrave the job of being the attorney preparing the paperwork.

    Frank Belgrave cannot practice law in the law courts in Barbados because he’s not a member of the Barbados Bar Association — he doesn’t pay them a cent in dues! So if he messes up your legal work, you need to get another attorney to take it to court!

    It is alleged that Frank Belgrave used to overcharge the beneficiaries of this fund and he and Timothy Simmons would share in the spoils.

    A second part of this Enterprise Growth Fund scam is: let’s say a person was getting a start-up loan of $50,000.00, the paperwork would actually say $100,000.00. They would skim the $50,000 through the paperwork and keep that money for themselves.

    Thirdly, what they would do is prepare paperwork for a NEW business. Frank would prepare all the legal paperwork and the money is loan for the start-up NEW company. Then, you hear nothing about the company, the company just disappears, closes. And that’s another side of this gimmick. They would create FAKE COMPANIES, give the money as a startup loan to friends, then the company DISAPPEARS.

    Frank Belgrave is deeply involved in this scam. They are crafty little fu**kers. Once the loan is lent, the COMPANY disappears. Remember that.

    There should be a paper trail. Frank Belgrave’s office files should be subpoenaed and he should be audited! Whoever are the overseers, the eyes, the comptroller, the board members watching how these monies are handed out, must look into this matter (assuming they themselves are not involved). They must investigate to see if these (fraudulent) loans are ever paid back. I doubt it!

    Mark B.A. Thompson got fake paperwork and benefited from the scam also. I know some of the players. It’s always the same players, always the same crooks!!And they walk around acting all arrogant and looking down on people!!

    Thing is, you can’t even expect our Fraud Squad to look into this because they are crooked too! And FORGET OUR NON-CRIME-FIGHTING ATTORNEY GENERAL!!!

  11. Piece Uh De Rock Yeah Right - INRI Avatar
    Piece Uh De Rock Yeah Right – INRI

    Looka…wunna see whu de ole man telling wunna bout the Barbados Underground site will raise the bar?

    De ole man do believe dat, over the course of time, what WILL HAPPEN, is that people will come and expose dese tings??

    Now many of dese peoples is not like de ole man and he grandson.

    De ole man is a documents man,

    whu I mean is dat, ANY ACCUSATION DAT DE OLE MAN MEK BOUT A FELLER DEM DUN KNOW “DO NOT ENGAGE DE OLE MAN SCVUNT” CAUSE HE GOT IT IN WRITING!!!

    BLACK & EFFING WHITE!!!

    What will give teet to you claim Expose Local White Collar is de copies of de facts and not the alluding to or de intimations

    Leh de ole man give you an intimation dat ent going fly.

    De ole man, if he did like anemic looking white womens could say dat, while he was in Slovakia dat he went out wid a call girl call Amnesia or whatever she name is, and dat she possibly cud be a first lady for a first man

    Well actually you cant technically call he de first man can you heheheheheheheheh

    Anyway you gets de ole man point?

    If you was to send a document to the Honourable Blogmaster , with de names of de criminals emblazoned pun de items YOU CAN BE SURE DAT DE the Honourable Blogmaster will sanitize these items and post dem without incriminating anyone.

    Now again, de ole man gots to say dat if you is indeed and in fack part of de shenanigans, you is not to put dese documents out dere for public scruting euphemism for officious bajans like de ole man tuh mamaguy in.

  12. Piece Uh De Rock Yeah Right - INRI Avatar
    Piece Uh De Rock Yeah Right – INRI

    @ Bush Tea

    De Granson gi me a boolean delimiter and I find it in a Flipping Book render

    De Auditors is KPMG

    http://www.egfl.bb/docs/areports/corporate/annual/2014/files/assets/basic-html/page12.html

    Unlessing dem change recently. dem should still be de same auditors of record but I fel that you already knew the answer to that question didn’t you? heheheheheheh.

    Like how you dun know dat *** ent really no white man heheheheheheh.

    Anyway we all good, “for my friend is your friend, and your friend is my friend, the more we are together, the merrier we shall be”

  13. Expose Local White Collar Avatar
    Expose Local White Collar

    Piece Uh De Rock Yea Right

    The Clico forensic report showed clearly an overhaul $3 million fraud check in which both Leroy Paris and Terrance thornhill were both involved in.

    Terrance is still Chairman of Egfl and there is documented proof and both men are walking around free and not in Dodds prison.

    Let both the crooked DPP and members of the crooked Fraud Squad do their work they can start by raiding Frank Belgrave Attorney office and find all companies he has incorporated for clients and how many got money from his buddy Timothy Simmons at Egfl and where those companies are and if all the money was repaid.

    What they will discover is a monumental scam of tax payers $$$$$$$S defrauded.

  14. Bush Tea Avatar
    Bush Tea

    The real problem we face in Barbados is that all the people who are guarding the hen houses are ff’ing foxes….

    So the GG is a waste of space…
    Froon /Owen/ Mia are ineffective since there are so many skeletons in their closets…
    The AG, CJ, and Speaker are compromised…
    The MPs are documented crooks…
    The Senate leader cannot be expected to see through the lotta shiite going on…
    The middle level public service ‘guardians’ are all fighting over the stolen scraps
    …and even the little low level brass bowls are unable to stand up to scrutiny…

    What does such a society deserve….?

    But the buck stops at the top, and the fact that Froon can sleep through such nastiness speaks to the lack of character of the man…

  15. Expose Local White Collar Avatar
    Expose Local White Collar

    https://gma.yahoo.com/senators-call-justice-department-investigate-wells-fargos-top-133408170–abc-news-topstories.html

  16. Exclaimer Avatar
    Exclaimer

    “Wells Fargo boss John Stumpf steps down”

    http://www.bbc.com/news/business-37639648

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