One who intends to leave others better off for his having existed.

11/2/14

JPM CEO Jamie Dimon Securities Fraud and Insider Trading

On May 22 2008, unknown to shareholders but known to JPM CEO Jamie Dimon,  J.P. Morgan Chase Bank borrowed $2 billion from the Federal Reserve Bank's Term Auction Faciltiy at 2.1% interest, with $90.536 billion in Unencumbered Collateral representing an undisclosed credit line with the Fed.

On Nov 6 2008, unknown to shareholders but known to JPM CEO Jamie Dimon,  J.P. Morgan Chase Bank borrowed $5 billion from the Federal Reserve Bank's Term Auction Faciltiy at 0.6% interest, with $81.700 billion in Unencumbered Collateral representing an undisclosed credit line with the Fed.

On Dec 23 2008, unknown to shareholders but known to JPM CEO Jamie Dimon,  J.P. Morgan Chase Bank borrowed $10 billion from the Federal Reserve Bank's Term Auction Faciltiy at 0.6% interest, with $81.080 billion in Unencumbered Collateral representing an undisclosed credit line with the Fed.
http://www.federalreserve.gov/newsevents/reform_taf.htm
.
.
JPM's annual report cites the words "Term Auction" three times, with no mention of the overall size of JPM's Federal Reserve Term Auction Facility credit lines, interest rates and maturities, all of which were material inside information known to Jamie Dimon but not JPM shareholders, the public or the SEC.

http://files.shareholder.com/downloads/ONE/3437901818x0x283416/66cc70ba-5410-43c4-b20b-181974bc6be6/2008_AR_Complete_AR.pdf
.
.
On 2009-01-16, while JPM was in possession of an undisclosed Federal Reserve provided Term Auction Facility credit line of more than $80 billion, Jamie Dimon purchased 500,000 of J.P. Morgan stock valued at $11,464,500 without being arrested for Insider Trading and Securities Fraud.

http://www.insider-monitor.com/trader/cik1195345.html
.
.
Sarbanes Oxley (SOX) states;

"SEC.302. CORPORATE RESPONSIBILITY FOR FINANCIAL REPORTS.

(a) REGULATIONS REQUIRED ...the principal executive officer or officers and the principal financial officer or officers, or persons performing similar functions, certify in each annual or quarterly report filed or submitted under either such section of such Act that--

(1) the signing officer has reviewed the report;

(2) based on the officer's knowledge, the report does not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made, in light of the circumstances under which such statements were made, not misleading;

(3) based on such officer's knowledge, the financial statements, and other financial information included in the report, fairly present in all material respects the financial condition and results of operations of the issuer as of, and for, the periods presented in the report".
.
.
An SEC interpretation states: "Many financial institutions, such as thrifts and banks, are receiving financial assistance in connection with federally assisted acquisitions or restructurings...If these or any other types of federal financial assistance have materially affected, or are reasonably likely to have a material future effect upon, financial condition or results of operations, the [Management Discussion and Analysis] should provide disclosure of the nature, amounts, and effects of such assistance..."

http://www.sec.gov/rules/interp/33-6835.htm
.
.
I believe J.P. Morgan CEO Jamie Dimon is guilty of Securities Fraud and Insider Trading, with the consent of the Federal Reserve, the SEC etc... and the Justice Department.
.
.
Bloomberg's Bob Ivry, Bradley Keoun, Phil Kuntz, Alison Fitzgerald, Fabio Benedetti-Valentini, Noah Bhahayar, Dakin Campbell, Christopher Condon, Gavin Finch, Andrew Frye, Donal Griffin, Christine Harper, Takashiko Hyuga, Aaron Kirchfeld, Dawn Kopecki, Rachel Layne, Elena Logutenkova, John Martens, Michael J. Moore, Howard Mustoe, Hugh Son, James Sterngold, Robert Friedman, John Voskuhl and Otis Bilodeau didn't bother to follow up on the story revealing the Insider Trading and Securities Fraud, to the benefit of Bloomberg News.

http://www.bloomberg.com/news/2011-11-28/secret-fed-loans-undisclosed-to-congress-gave-banks-13-billion-in-income.html.
.
.
Previously;

BB&T CEO Kelly King and CFO Daryl Bible Securities Fraud

http://hartzman.blogspot.com/2014/09/bb-ceo-kelly-king-and-cfo-daryl-bible.html

Wells Fargo CEO John Stumpf and Chairman Richard Kovacevich Securities Fraud and Insider Trading

http://hartzman.blogspot.com/2014/09/wells-fargo-ceo-john-stumpf-and.html

JPM CEO Jamie Dimon Securities Fraud and Insider Trading

http://hartzman.blogspot.com/2014/09/happy-labor-day-jpm-ceo-jamie-dimon.html

Citibank CEO Vikram Pandit Securities Fraud and Insider Trading 


http://hartzman.blogspot.com/2014/09/citibank-ceo-vikram-pandit-securities.html

For the 400,000 plus Wells Fargo clients being lied to on their "Envision" retirement plans 

http://hartzman.blogspot.com/2013/01/envision.html

Bank of America Insider Trading and Securities Fraud

http://hartzman.blogspot.com/2014/09/bank-of-america-insider-trading-and.html

Securities Fraud and Perjury via the Wells Fargo Wachovia Merger

http://hartzman.blogspot.com/2014/09/securities-fraud-and-perjury-via-wells.html


No comments: