LA Times: Bank at center of Rep. Waters inquiry has checkered past

Los Angeles Times ^ | August 12, 2010 | By E. Scott Reckard and Stuart Pfeifer

[Oldeconomybuyer]

OneUnited Bank, the financial institution at the center of a congressional ethics investigation involving Rep. Maxine Waters, paid for a luxurious lifestyle for its chairman, including a Porsche and a house on Pacific Coast Highway in Santa Monica despite his having a record that includes arrests and allegations of drug use.

The bank has been criticized by regulators in Florida for having an unusually poor record of lending to people in low-income neighborhoods. It also has failed to pay back $12 million in federal bailout funds.

Cohee's high-flying perks came despite his having been charged in 2007 with felonies after his arrest by the Santa Monica Police Department on suspicion of possessing cocaine, crack cocaine and concentrated cannabis, according to the Los Angeles County district attorney's office. The case was dismissed the next year after Cohee completed a drug diversion program.

He was also arrested in 2007 after a woman filed a complaint alleging that Cohee had forcibly sodomized her, according to public records. Prosecutors did not pursue the assault charge. The Boston Herald quoted Cohee as saying that the arrest was "utter and complete nonsense that went nowhere."

Cohee could not be reached Wednesday for comment on the arrests.

[Vaduz]

Unusually poor record of lending to people in low-income.
Obamaites are like cockroaches there all over the place.

[Tempest]

“Cohee had forcibly sodomized her”

I suppose that if this case didn't have anything to do with waters the LA Times would've used the conventional term RAPE.

[hoosiermama]

mmm mmm mmm

More banking problems

This time Waters will go under the bus

(WOnder what the bank’s connection to CHicago/Obama is?)

[Liz]

Can OneUnited Bank prove where it spent the $12 millions TARP bailout?

Anyone at OneUnited Bank involved in any criminal activity, illegalities, and improprieties needs to be held accountable. Jail time is mandatory.

We need to connect the dots to Waters federal and state campaign finance filings. If M/M Waters colluded to extort TARP money for OneUnited Bank that was legislated for one purpose.....but that TARP money was converted for other purposes---perhaps even campaign donations----that is illegal.

ACTION The FBI should interrogate M/M Waters to determine if anything of value was exchanged---money, jobs, campaign contributions, political cover---in exchange for bailout money, and the extent of the collusion to misuse Congressional influence.

POSSIBLE CHARGES: illegal conversions; facilitating govt fraud; official acts prohibited; misuse of Congressional funds; abuse of public office; violating oath of office; misuse of government position; abuse of government power; conflict of interest; influence buying; conspiracy to deceive; misuse of elective office, collusion, conspiracy to collude; falsifying official documents, presenting false instruments for filing.

M/M Waters official campaign finance records filed with the FEC, and state election commissions, should be scrutinized for possible violations. (a) Determine if names of contributors are legit, (b) whether campaign contributions were disguised. (d) whether they colluded and agreed to give/get something of value, campaign assistance, campaign cash, a govt gratuity, jobs for relatives, etc, in exchange for TARP money.

FBI TIP PAGE http://tips.fbi.gov/ (you may remain anonymous)

Schemes such as illegal conversions and money laundering to evade the IRS, SEC, FEC and US banking laws may have been utilized.

==================================

Since several felonies have been alleged, it is also possible that other federal offenses have also been committed including but not limited to;
Title 18 U.S.C. §1341, Mail Fraud,
18 U.S.C.§1001, Presenting a False Document to the an Agent of the US Govt;
18 U.S.C.§1027 False statements and concealment of facts WRT documents required by the Employee Retirement Income Security Act of 1974
Other possible offenses including civil and/or criminal RICO violations.
18 U.S.C. §§1961-68 (RICO Act)
18 U.S.C. §1001 (False Statements to Agents of the US Government),
18 U.S.C. §241 (Conspiracy Against Civil Rights).

Full investigations of a RICO conspiracy under 18 U.S.C. §1962(c) are warranted because (1) the defendant persons (2) were employed by or associated with an enterprise (3) that engaged in or affected interstate commerce and that (4) the defendant persons operated or managed the enterprise (5) through a pattern (6) of racketeering activity, and (7) the complaints were injured in its business or property by reason of the pattern of racketeering activity.

Thus, a formal RICO investigation is warranted, since violations of Title 18 U.S.C. §241 may have occurred. Conspiracy Against Constitutional Rights – prohibits in relevant part, “two or more persons (from conspiring) to injure, oppress, threaten, or intimidate any person in any State, Territory, Commonwealth, Possession, or District in the free exercise or enjoyment of any right or privilege secured to him by the Constitution or laws of the United States, or because of his having so exercised the same . . .” See, 18 U.S.C. §241.

=========================================

OneUnited Bank filed thousands of document. Taxpayers demand to know the scope and dimension of deceptive and intentionally ambiguous information contained therein.

OneUnited Bank may have violated RICO (the Racketeer Influenced and Corrupt Organizations Act) by generating fraudulent documents to extort taxpayers and steal govt monies.

L/E should place a hold on all OneUnited Bank documents. Stealing and conveying (or destroying) official govt records nets 10 years in prison and a $250,000 fine. L/E should also look at Computer Trespass--a class C felony if access is made with the intent to commit a crime and/or the violation involves a computer or database maintained by a government agency.

============================================

Did OneUnited Bank advertise low ball salaries for public consumption, then file falsified papers to get much higher salaries. LE should examine all OneUnited Bank perks, expense accounts, unauthorized 6-figure bonuses, pensions, tax-evading annuities, etc, etc, etc.

==================================

THE BIG ONE M/M Waters’ tax returns will reveal their actual bank income compared with the bank’s accounting entries. In particular, examine M/M Waters’ “interest income” on IRS forms.

IRS TOLL-FREE 1-800-829-0433 (you may remain anonymous when reporting possible tax fraud).

The IRS should relentlessly pursue these individuals to determine if all relevant income was reported and whether all taxes due were paid (stolen money is taxable).

===============================

THE MODUS OPERANDI? (1) Awarding bloated contracts to cronies and family that had “kickback” written all over it? (2) Pricing a contract lower on paper then increasing the amount taken out of the budget? (3) Having a hidden equity interest in companies receiving contracts?

NEEDS TO BE DONE NOW L/E must should demand all records filed by OneUnited Bank. L/E may be looking at the legal parameters of prosecutable crimes including collusion, making false statements to state/federal officials, obstructing proceedings before state/federal agencies, conspiracy; obstructing and delaying US justice.

[Liz]

Wonder what the bank’s connection to Chicago/Obama is?

Don't forget Ohaha/Rahm/Biden control the $$$bailouts. The deal could be that Waters would get the $12 million TARP bailout in exchange for campaign contributions.

They could have used anyone to make the contributions----but it would be interesting to see the extent of OneUnited Bank personnel who contributed.......maybe bundling contributions.

[Liz]

Kevin Cohee, Chairman & CEO of OneUnited Bank

As Chairman & CEO of OneUnited Bank, I would like to share my perspective about these economic times. It is more important than ever to have real conversations about money with your family and friends. It’s also important to have a real understanding of how you are spending and saving your money.

As a Community Development Financial Institution, we believe savings provides protection for families and businesses…which is why we promoted savings to urban communities when other institutions were promoting subprime mortgages. So consider the following real affordable choices for your money. SOURCE OneUnited Bank web site.

[Marty62]

Yes and if you see one, you better call orkin because there are hundreds hiding.

[Liz]

Ut, oh---this could be huge. Crimes committed under the aegis of the FDIC means big trouble for this bank.

SOURCE OneUnited Bank web site: Important disclosures regarding the FDIC’s Transaction Account Guarantee Program: OneUnited Bank is participating in the FDIC's Transaction Account Guarantee Program. Under this program, the FDIC temporarily provides a full guarantee for deposits held by FDIC insured institutions in noninterest bearing transaction accounts. This coverage became effective on October 14, 2008 and will expire at 11:59 PM EST on December 31, 2010.

Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC's general deposit insurance rules. OneUnited Bank does not guarantee that its rates for interest bearing checking, money market and IOLTA accounts will not exceed 0.25%, and therefore these accounts are not eligible for TAGP. Please visit the FDIC website for more information on this pro gram (www.fdic.gov)

[hoosiermama]

campaign contributions = money laundering

Of course....

They have to keep the members on the plantation.

[hoosiermama]

ACTION The FBI should interrogate M/M Waters to determine if anything of value was exchanged---money, jobs, campaign contributions, political coverDRUGS

[Eric in the Ozarks]

The FBI isn’t going to do a damned thing.
These people are from a protected class...

[Liz]

The FBI should interrogate M/M Waters to determine if anything of value was exchanged---money, jobs, campaign contributions, political cover.......and DRUGS.

Good addition.....maybe her grandson (her COS) knows?

[Liz]

OneUnited is a Boston-based bank with branches in Massachusetts, Florida and California. The bank has been criticized by regulators in Florida for having an unusually poor record of lending to people in low-income neighborhoods.

OneUnited Bank is now at the center of a congressional ethics investigation involving Rep. Maxine Waters (D-Cali). She is accused of facilitating $12 million in federal bailout funds while her husband was affiliated with the bank, that the bank has failed to pay back.

=====================================

OneUnited Bank paid for a luxurious lifestyle for its chairman and CEO Kevin Cohee.........including a Porsche and a house on Pacific Coast Highway in Santa Monica......... despite Cohee's having a record of arrests and allegations of drug use.

Cohee's high-flying perks came despite his having been charged in 2007 with felonies after his arrest by the Santa Monica Police on suspicion of possessing cocaine, crack cocaine and concentrated cannabis, according to the Los Angeles County district attorney's office. The case was dismissed the next year after Cohee completed a drug diversion program.

Cohee was also arrested in 2007 after a woman filed a complaint alleging that Cohee had forcibly sodomized her, according to public records. Prosecutors did not pursue the assault charge. The Boston Herald quoted Cohee as saying that the arrest was "utter and complete nonsense that went nowhere."

Kevin Cohee, Chairman & CEO of OneUnited Bank

[Oldpuppymax]

Uh, no...that’s CRIMINAL past!!!

[stephenjohnbanker]

” OneUnited Bank paid for a luxurious lifestyle for its chairman and CEO Kevin Cohee.........including a Porsche and a house on Pacific Coast Highway in Santa Monica “

For those who don’t know, there are only about a dozen homes here, and they rent for about 20,000 per month ;-)

[Liz]

“Pacific Coast Highway” conjures up big buck drivers.

[stephenjohnbanker]

Yep. Oceanfront homes in Malibu rent from 20,000 for a ratrap, to 75000 per month for The Colony...(where all the left wing movie stars endure their suffering).

[ErnBatavia]

The IRS should relentlessly pursue these individuals

They've probly already made contact with Porkgut...

[Liz]

Well, at least all the whining left wing movie stars have a view of the ocean while they’re suffering