Ex-NY state Sen. Monserrate pleads guilty in 'slush fund' case

NY POST ^ | 5/4/12 | BRUCE GOLDING

[Liz]

....ex-NY state Sen. Hiram Monserrate pleaded guilty to scamming more than $100,000 in "discretionary govt funds" for the non-profit "Latino Initiative for Better Resources and Empowerment" (LIBRE) for his campaign..... Prosecutors said two former LIBRE employees, several former members of Montserrate's city council staff and "a number of residents of Queens" who were paid by LIBRE to conduct work for his campaign using govt funds would testify against him. The Queens Democrat was expelled from state office after being convicted of roughing up his girlfriend.

[PGR88]

Makes sense. New York is a 3rd world city with a very thin 1st world veneer.

[SandRat]

It’s not util the 2nd sentance the we find out that it’s a DemocRAT illegel alien lover.

[Liz]

By now, it’s a foregone conclusion (/snix).

You shoulda seen the WH Stinko de Mayo invite Ohaha sent out——included gift certificates. Free BJ’s in the Oval Office to latinos with multiple identities and voter registrations.

ROTFL.

[mellow velo]

I thought this guy's name rung a bell. He was expelled from the NY State Senate for domestic assault a few years ago. He slashed his girlfriend in the face with a broken drinking glass. I think at the time he claimed that she tripped and fell into it, or some other bogus claim.

According to a quick check on wiki, she dropped the charges, but the Queens Grand Jury indicted anyway. He was acquitted on the more severe charges, but convicted of a 3rd-degree assault misdemeanor.

[Liz]

Monserrate admitted asking the city to allocate "discretionary govt funds to a "non-profit" called the Latino Initiative for Better Resources and Empowerment, or LIBRE, while he served on the council----and subsequently asked a LIBRE employee to use some of the funds to do certain things to benefit his campaign.

Another non-profit fraud---this is just the tip of the latino fraud. L/E should rigorously scrutinize La Raza's books-----and all the financial activities of these phony latino self-help groups. The fraud uncovererd will be staggering.

More below.

[Liz]

THE NON PROFIT MODUS OPERANDI According to the Internal Revenue Service's Criminal Investigation Division, banks can be nailed if found to have aided and abetted the use of bank accounts for criminal enterprise.

The "Bank Secrecy Act" was passed to protect the public from harm by identifying and detecting criminal enterprises, money laundering, tax evasion or other unlawful activities.

Under the Bank Secrecy Act, banks are required to establish, implement and maintain programs designed to detect and report suspicious activity that might be indicative of money laundering, embezzlement, and other financial crimes.

Non-profit comptrollers, accountants, insiders with control pver monies might open joint bank accounts to facilitate the transfer of of govt funds into the account.

Govt monies may pay for personal and private expenses, credit cards, real estate subsidies and vehicle purchases. To cover their tracks, fake invoices might be created to show auditors that the money deposited into accounts was being used for legitimate purposes.

The scheme might be advanced by issuing fake statements showing revenue shortfalls, late payments from federal and state sources, that actually covere transfers of funds for their own use.

Taxpayers demand the law be used to prosecute and recoup stolen govt monies. L/E is directed to get ahold of: (1) copies of checks, (2) wire transfers, (3) account statements, (4) invoices, (5) bills, (6) delivery tickets, (7) correspondence including e-mail, contracts, loan agreements, and, (8) any other books or records.

L/E should also explore (a) monies paid to brokers, sub-brokers, (b) family members, (c) mortgage brokers, (d) financial managers, and, (e) real estate agents, brokers, and developers.

L/E should scrutinize bank accounts for suspicious activites: (A) large deposits, (B) funds transferred from one account into another, (C) requests for withdrawals.

Bank records might also show diversions to secret LLC accounts, to operate personal businesses. Cash can be diverted by (1) unauthorized withdrawals, (2) gift cards purchases, (3) credit card advances and/or purchases, and, (4) intrabank transfers from govt accounts into secret personal accounts opened with the bank.

A huge tipoff is whether bank payments supported luxurious lifestyle including payments for private jets, jewelry, luxury vehicles, resort travel and gifts from luxury outlets.

[Liz]

Thanks for the update. Watta creep this guy is.

[BilLies]

The New York Legislature, particularly the Assembly is a bunch of Daisy Chain Democrats, with the The Assembly Leader, Sheldon Silver as the Butt Ass Master. For instance an Assemblymen from the Buffalo area dedicated/gave the Brooklyn ares City Chamber of Commerce (that be in NYC) $650,000 of Government money and in the same year gave $750,000 to a Garment District (that be in NYC).

[The Mayor]

Sounds like Schimminger.

[BilLies]

You are right.

[Liz]

Albany is a bunch of Daisy Chain Democrats, with Sheldon Silver as the Butt-Master.....an Assemblymen from upstate Buffalo got the Brooklyn Chamber of Commerce (in NYC) $650,000 Govt money......in the same year gave $750,000 Govt money to a Garment District (in NYC).

Kickbacks, anyone?

The Bank Secrecy Act would be put to good use here.