RE: Chicago-based Association of Community Organizations for Reform Now (ACORN)
RE: ACORN President Maude Hurd
RE: Acorn Housing Corp (funded with millions of tax dollars)
ACTION NEEDED Law enforcement should determine whether ACORN is affiliated with multiple companies or corporations - that might be using addresses of ACORN and Fannie Mae insiders are listed in offshore banking havens. ACORN may have received hidden fees from its mortgage extortions.
ACORN and Fannie Mae principles may be listed on reports issues by the Financial Industry Regulatory Authority, the largest nongovernmental regulator of U.S. securities firms. These firms may hold LLC accounts (which do not have to disclose the owners) and may all share the home addresses of ACORN principles. ACORN principles may have listed themselves as the "sole members, owners, 50 percent owners, vice presidents, treasurers" of these LLC's. ACORN insiders may have listed themselves as "acting as intermediaries between money [managers] and institutional investors to facilitate introductions and resulting investments." ACORN principles may have setup these entities to receive "placement fees." "commissions," and other monies from companies thst ACORN coerced into giving out mortgages.
Investigators should determine whether ACORN extorted jobs for ACORN and Fannie Mae principles in companies doing mortgage business. ACORN may have collected $millions in fees with ACORN and Fannie Mae insiders, keeping the bulk of the money for themselves. Law enforcement should determine whether ACORN shook down companies looking to do mortgage business and whether Fannie Mae colluded with ACORN and whether ACORN principles did anything illegal to enroch themselves via fees they received. ACORN may have shaken-down companies giving out mortgages to secure jobs for ACORN insiders in order to facilitate the payoff process. We need to see SEC filings (and amended filings) to see of ACORN got placement fees and whether ACORN and Fannie Mae coluded to commit government fraud---illegally using tax-exempt monies to facilitate these frauds.
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As part of the Tax Exempt Compensation Enforcement Project, the Internal Revenue Service (IRS) intends to examine non-profit organizations (NPO), to learn more about the practices nonprofits follow as they fill out Form 990, the main public disclosure documents for charities and foundations, and whether accounting fraud and tax evasion is taking place, and whether the compensation of specific individuals is excessive, and whether instances of questionable compensation practices may evade IRS and banking and SEC laws. The IRS will examine NPO insider transactions, such as (1) loans, the (2) sale, (3) exchange or (4) leasing of property to non-profit officers. indisers, and others. In particular, the IRS will look to see how organizations report (5) "excess benefit transactions" on Form 990, and (6) executive pay. News agencies reported the IRS statement Aug 10, 2004, and that some 2,000 charities will be reviewed under a new IRS enforcement effort to determine whether NPO's are abusing their tax-exempt status. "We are concerned that some charities and private foundations are abusing their tax-exempt status by paying exorbitant compensation to their officers and others," said IRS Commissioner Mark Everson.
The IRS has received complaints that 501C’s are being used to run just about every kind of off-the-books accounting fraud. In one case, the president of a non-profit organization was embezzling donations and was engaging in accounting fraud by having the NPO pay his entire apartment lease which was fraudulently booked on non-profit documents as a "business office." Concerns have also been raised that the IRS has been stymied in its efforts to penalize falsified tax documents and official financial instruments to cover-up theft, and the failure of individuals to report stolen money as income. Nonprofits, authorities, trust, foundations, unions, have the potential and may, in fact, be major money laundering conduits. They wrap themselves in all sorts of high-sounding causes while engaging in activities that are fraudulent and benefit insiders at the expense of law-abiding Americans. Legal fees, a line item in most non-profit accounting reports, are well-used money laundering schemes that evade US taxes and use fraudulent accounting techniques to violate US banking and SEC laws.
Non-profit- 501C's are used to run just about every kind of fraudulent accounting schemes, some observers say. The SEC needs to investigate the financial improprieties oand covert operations (1) whether ACORN is a conduit to launder monies to pay individuals for questionable activities that violate the civil rights of American citizens; (2) whether officers of publicly-held companies are using ACORN to launder money and are booking donations to ACORN as business expenses in order to evade US taxes, and avoid banking and SEC laws; (3) whether ACORN evades FEC laws by illegally transferring NPO donations to campaign accounts.....and whether Barack Obama knew about it.
Democrat Affirmative Action Housing Policies have put us in this ‘crisis’ and that’s all I got to say about dat.
ACORN representatives,or those who claim to be, are canvasing Orange Co. CA neighborhoods offering to help tenants forestall eviction. They are requesting $1000 fee.
Agents involved in foreclosurer are aware of these problems.
Obama was a lawyer and ‘community organizer’ for ACORN at one time...so my guess is that he helped bury the skeletons! Makes you wonder if that 90,000.00 bucks in Jefferson’s freezer was ACORN/Fannie Mae/Freddie MAc monies?
Good post! We need some freeper lawyers to comment!
Great post Liz.
When the government takeover aka nationalizion of Fannie $ Freddie ACORN receives by law 4.5 points on EACH home handled by these two mortgage company’s.
I heard this morning on Fox that the world markets, including our own are0crashing because they expect Obama to win and the US will go socialist/Marxist.
HELLO JUSTICE DEPARTMENT!!!! Anyone there??? Any MORAL people listening???
http://www.discoverthenetworks.org/Thinkmap%20SDK%202.5%20Standard%20Edition/webapp/TM-1VER/index.asp?keyword=Association%20of%20Community%20Organizations%20for%20Reform%20Now%20(ACORN)
Recipe for winning:
Point out the policies that led to this economic disaster. Affirmative action socialized wealth redistribution. Can anyone else see what happened here? They had them all buy houses and then when it cannot sustain itself, tax those who still have anything to save those houses for them. Outright redistribution doesn't play well in an election. This was brilliant of the dems over years to “get theirs”. Starting to think Republicans don't even get it. At least these people get the results they want. We don't even get the results when we get what we want.
Point out that O would have pulled out in ‘04 if he had the power he seeks today. Not “will” you dorks (McCain Palin campaign ppl), would have! Translation: Would have surrendered. McCain and Palin don't realize that by saying “will” makes it look like all O wants/wanted was a stable withdrawal, which he can have now ‘cause of the surge success etc.
Obama is the government's candidate. Has to be. You couldn't try harder to throw this.
If we don't have the balls, they will and do.
ping
“ACORN worked in conjuction with quasi-govt agancy Fannie Mae which was so badly managed, it had to be bailed out, thus saddling US taxpayers with gigantic debts.”....
In a nutshell......
This thing is so big and so corrupt. The Democrats and Paulson knew for a long time that this was coming and they are doing everything they can to cover it up..... and that includes putting one of the major ACORN players in the WH.
Excellent research, thank you.