Peter Lanza, is the tax director for General Electric, a corporation that paid -$0- in Federal income taxes on $14.2 billion dollars in profits last year. Three of the employees from GE Capitol, the unit overseen by Lanza, were sentenced to time in prison on October 18th 2012 for Libor bid-rigging scheme.
The men are the first to be sentenced as part of an ongoing investigation of bid-rigging in auctions. It just so happens that GE Capitol, Peter Lanza’s Unit, was the one involved in the bid-rigging schemes that used LIBOR rates to manipulate the municipal market.
- Edward Snowden’s Exposed Lies: Turf War ~ CIA Militant Psyops vs NSA Intelligence Gathering!
- BITCOIN Currency Stays Strong By Cutting Out The Bankers: Public Rejects The Few False Flag Exchange Attacks…
- Obama Collusion: General Electric CEO For Economic Recovery Advisor!
- President Kennedy Rejected CIA Airliner False Flag Attacks On Americans!
* Defendants sentenced to three- and four-year prison terms
* Three were charged as part of US probe of muni market
* Appeal likely, defendants say
By Basil Katz
NEW YORK, Oct 18 (Reuters) – Three former bankers at a unit of General Electric Co were each sentenced on Thursday to several years in prison for conspiring to rig bids to invest municipal bond proceeds.
The men were convicted in May as part of a broad investigation by the U.S. Justice Department of the $3.7 trillion U.S. municipal bond market. The probe has focused on rooting out schemes to fix prices and rig bids on bond transactions, and has ensnared some of the world’s largest banks.
The government had accused the three GE Capital bankers of conspiring with brokers, between 1999 and 2006, to submit artificially low bids for municipal finance contracts. They were found guilty of conspiracy to commit wire fraud and to defraud the United States.
GE Capital is the financial services unit of Fairfield, Connecticut-based GE.
- Obama’s Partner General Electric: New Drug From G.E. Healthcare A Medical ‘Nightmare’ -Omniscan
- 36 Rothschild UBS Banksters Face Criminal Charges In Liborgate Robbery: Rothschild’s Waterloo!
At Thursday’s hearing, U.S. District Judge Harold Baer in Manhattan said “corruption and greed was certainly what this case was about.”
Defendant Steven Goldberg was handed a four-year prison term, while Peter Grimm and Dominick Carollo were each sentenced to three years.
The sentences were significantly lower than what the government had requested. Prosecutors had proposed up to 17-1/2 years for Goldberg, and more than a decade for the two others.
The three defendants addressed the crowded courtroom in turn, each breaking into tears when asking the judge for leniency.
Lawyers for the three men indicated in court on Thursday that they would likely appeal the convictions.
Three former UBS AG executives were convicted on similar charges in August.
A total of 19 people have been convicted or have pleaded guilty to charges stemming from the bid-rigging investigation, the government said in August.
In July, former JPMorgan Chase & Co banker Alexander Wright pleaded guilty to one count of conspiracy to commit wire fraud for manipulating the bidding process for a June 2002 contract.
Wright and former UBS employee Mark Zaino testified for the government at the trial of the former UBS executives. Zaino pleaded guilty in 2010 to bid-rigging charges.
The case is U.S. v. Dominick Carollo et al, U.S. District Court for the Southern District of New York, No. 10-cr-654.
- Hungary Kills The Rothschild Banks: Ordered To Vacate Country.
- 8th Banker Commits Suicide: JP Morgan Hong Kong & 30 Stories Down!
- OBAMA’S ACORN EXECUTIVE – ‘FOUND GUILTY of VOTER FRAUD’ – FASCIST GENERAL ELECTRIC MSM MUM!
- Obama’s Orchestrated Blocking Of New Power Plants Triggers Nationwide Blackouts: Mexico Stops Electricity.
- Free Enterprise Project Launches Petition Calling For General Electric CEO Jeff Immelt To Immediately Resign
- UnMask: General Electric’s Main Stream Media – Jeff Immelt CEO Of G.E. Appointed To Obama’s Recovery Panel
Related articles
- Libor Scandal Update: UBS GUILTY of FRAUD!!! (senseoncents.com)
- Gasoline & Oil Markets Rigged Far Worse Than Libor (econmatters.com)
- 10 Bankers Thrown Behind Bars (the2012scenario.com)
- Libor scandal: More than 30 UBS bankers ‘to be implicated in rate rigging’ (telegraph.co.uk)
- Federal watchdog hopes to sink teeth into Quebec corruption actors (news.nationalpost.com)
- Rothschild Underling Hillary Clinton Feins Illness In An Attempt To Avoid Prosecution For Stevens Murder In Benghazi.: Tactics Were Also Used By Jesse Jackson Jr. & Mafia Crime Boss Vincent Gigante To Avoid Prosecution!
-
- General Electric Makes New Lear Jet In Mexico Where Unemployment is 4.9%: U.S. Taxpayers Bailed Out G.E. For $182.5 Billion. Thanx G.E.
- Review – General Electric: The Worst Bailout in the World aka; Indebting America To High Taxation. Contrary To The Founding Fathers.
- Obama Cuts Welfare, While His Economic Advisory Board Chairman Increases American Poverty: Jeff Immelt, CEO Of General Electric & Owner Of NBC Urges More Welfare Debt For America ~ While Receiving $Billions In Taxpayer Bailout Money From Obama & Then Moves American Jobs Out To Other Countries, While Obama Nullifies Tax Oblgations For G.E.