So Why Are Bankers Never Personally Criminally Charged?


In the latest scandal where five major banks agreed to plead guilty to criminal charges brought by the U.S. Department of Justice for manipulating the foreign exchange rates of the U.S. dollar and euro, only the corporations were changed ­– not the bankers – be they traders or executives. The banks were Citicorp, JPMorgan Chase, Barclays, Bank of America, and the Royal Bank of Scotland. UBS Group was the sixth bank, but they only agreed to plead guilty to manipulating the interest rates. The fines were an estimated $5.7+ billion to be paid to the United States.

So why were only corporations charged criminally? The reason was not some payoff, it was a matter of how much the government wanted to expose. This deal is clean. Corporations handover a fist-full of cash and the Justice Department gets a gold star, instead of just the SEC with civil charges. This time, because it was the Justice Department and the charges were criminal, these banks are now legally convicted felons and under the law, they should have lost their banking licenses.


This is where it gets interesting. Commissioner Kara M. Stein dissented for the waivers that the banks can keep their licenses despite being felons, and rightly so since that is the law (see: SEC Kara Stein dissent regarding banks). Mary Jo White, who acted as the head criminal prosecutor in my own case, supported these waivers. White waived all criminal indictments against the bankers or the banks involved themselves. She criminally charged the subsidiary Republic NY Securities, which HSBC then shutdown, moving the business to its own companies. So, Mary Jo White never charged anyone in the bank at the top, and here she did it again in this case. (See: SEC Waiver for Banks). The President of Republic NY Securities pleaded criminally guilty on a deal with no jail time.

Mary Jo White even supported a lifetime gag order on myself to prevent me from helping our clients against the banks – namely HSBC. So she is very much NYC legal establishment – you do not shit where you eat.

OK! Why are those in government personally protecting the bankers? It is fundamental that banks are market makers who have the accounts of the client; that inside info is being used to trade against the client. The clients are the prey and corporations are too uninformed to figure out that you cannot ask a wolf to guard the sheep.

Quite simply, putting the banking system on trial would expose Transactional Banking. As long as they let everyone think the problem is Fractional Banking, which has existed since ancient times, the banks can still be traders. Expose the truth behind the curtain and only a madman would trade anything with the place who sees all his positions.


Public trials are rare. They are nonexistent among banks. This is the same reason why they would never allow me to have a trial. If you stand trial, you put on a defense, and you get to call witnesses. In my case, I would call the bankers and ask them why were they using our accounts for their trading? That would have exposed the very same scheme that brought down M.F. Global. Yes, on the one hand you can argue that Corzine was friends with Obama, but that is just the fluff. If you really put Corzine on trial, his defense would have been that it was standard operational procedure that the SEC knows this takes place, as does the Banking Commission, yet nobody writes any rule to stop it.

In London, a bank NEEDS the signature of a client to sell their funds in the overnight market. In the USA, no such rule exists. So, the U.S. banks send the money to London to be sold overnight, and the London branch says they have permission from the U.S. bank. They have been playing the rules and law back and forth, one against the other.

Never have an account with a bank that has international offices. That should be something a mother should tell her newborn child.

So, it is not that someone is paying off someone else. That is too superficial. If they go that far, the truth about everything will be exposed. You just do not air the dirty laundry in public for it would illustrate that the regulators are into this neck deep.

I have stated before, there was a journalist by the name of Isabella Ring at the NY Post who interviewed me. She was interested in the fact that my defense was that the bankers were illegally trading in our accounts. She was researching the subject and then asked me right out of the box, “Was Republic laundering money through your accounts for the Russian Mafia and Columbia drug cartel, AS THEY WERE DOING IN MADOFF’S?” In my opinion, Madoff plead guilty to protect someone shutting down any further investigation. Talk about the suicide contagion on Wall Street, well Madoff’s son also supposedly committed suicide. Was he going to spill the truth behind the curtain?

FCI- Letter 2007

Here is the letter from the forensic accountant in my case to the court appointed lawyer. He states that besides the receiver failing to provide any documentation in six years to prevent a trial, what limited material was produced failed to show what was alleged, and about 40% of the trades in the accounts were ERRORS being backed out after weekends by the bank. That certainly smells like they were doing money laundering for someone. This was what the reporter was curious about, and the way she asked me the question implied they were doing similar schemes elsewhere. That interview was NEVER published. Interesting that HSBC was caught allegedly laundering money in Geneva.

When this letter was sent to the court and I requested the discovery that I had never received in 7 years, Judge Keenan replied: “You have enough.” I was denied access to the very records I would need for a trial. It was clear that there was no intent to allow a trial or to hand me more evidence against the banks.

There will NEVER be a public trial having to do with NY banking. It would expose way too much and that would collapse the confidence in the entire financial system supported by the pretend regulators. So, they bring criminal indictments only against the corporation and the deal is signed before it is announced.

There are no PAYOFFS or bribes, because the people in charge of regulating are part of the scam. They know what goes on, but turn a blind eye because NY has a policy carved in stone – you do not shit where you eat.