issue 15


US Industrial Banks (IBs) and Industrial Loan Companies (ILCs) are not regulated by any US Federal Government Agency. It is long overdue for mandatory regulatory supervision of the US Federal Reserve and US Office of Comptroller of Currency. They continue to be a clear and present danger to the entire US banking system. Through decisive Washington lobbying, IBs and ILCs have accrued ever increasing power with a growing competitive advantage over US banks regulated by the US Federal Reserve and US Office of Comptroller of Currency. It is time all Presidential candidates are on record making a definitive commitment complying IBs and ILCs accept Federal Reserve and US Office of Comptroller of Currency regulation at a specific date. President Obama is on record as committing to five years from his 2009 speech (see Issue12). All other Presidential candidates should do likewise, for the sake of US banking system. This would relieve a US President of any future lobbying pressures.


Representative Jim Leach, House Financial Services Committee says: “But now what happens? You take a public official that’s the governor of an ILC (Industrial Loan Company) [Utah] state. A bank from abroad [UBS AG, Switzerland] says I’m going to give you 1,000 jobs, I’m going to give you 500 jobs, I’m going to give you 50 jobs, I’m going to give you 40 banks [Utah Industrial Bank alias UBS Bank USA] with 50 jobs each. That’s great for the [Utah] state. But that means access to all the panoply of rights and privileges of the American banking system, and it means placing all other banks that become liable if difficulties emerge as well as the United States taxpayer. So we are saying to a small state [Utah] that has a vested interest in bringing in jobs we’re going to rely on your judgment. I just don’t consider it reasonable. … Clearly America’s investment banks want this ILC charter because they look on it as the weakest regulation, as a way to get out from under Federal Reserve supervision, and as a breach of commerce and banking coming their way. … If you take the Federal Deposit Insurance Corporation, this is a wonderful institution, one that I respect a great deal. But isn’t it a little bit of chutzpa to say we [Utah] can regulate without the Fed and that it’s in the public interest not to have the Office of Comptroller of the Currency, not to have the Federal Reserve have oversight whether it be over the collective company — that is the greater company that might have an ILC – or over the system as a whole? That’s not in the public interest, and it’s a shame.” O1


Connecticut Law Review says: “The FDIC made the right decision when it imposed a moratorium on further acquisitions of ILCs (Industrial Loan Company) by commercial firms and urged Congress to consider legislation barring such acquisitions. … contravene the policy of separating banking and commerce … likely to create serious distortions and competitive imbalances … Consolidated supervision would increase the likelihood of (Federal) bailouts.” O2 Utah Industrial Bank Cartel has a distinct numerical advantage over the few other industrial banks. It also has a competitive advantage over Federally regulated banks. The Federally unregulated Cartel has been known to use Utah citizens and lobbyists to crowd out others in every Congressional room where any pertinent legislation occurs. At present, there is no room for Utah Industrial Bank Cartel detractors in Washington.


Connecticut Law Review reports: “Senate committee report … declared that non-banks undermine the principle of separating banking and commerce, a policy that has long been the keystone of our banking system. … The separation of banking from commerce helps ensure that banks allocate credit impartially, and without conflicts of interest. – The FDIC lacks consolidated supervisory authority over … holding companies.” O3 One only has to Google Industrial Banks to find the Utah Industrial Bank Cartel has kept dissenters in the back pages while the UBS Utah Industrial Bank (alias UBS Bank USA) advertises itself a US Federally regulated bank. FDIC is not a US Federal Agency. They lie.

UBS PAC WASHINGTON GIFTS CONTINUE TO VIOLATE OF US FEDERAL REGULATIONS reports: “Among all finance, insurance and real estate companies, UBS has given more campaign donations than all but six other companies. It also spent nearly $1.3 million lobbying (Washington) between 2007 and 2008.“ O4 We have found the indifference to prosecuting UBS over US Justice Department parole violations (see Issue 10) is directly linked to UBS lobbying handouts.


Independent Media Source reports: “Utah U.S. penny stocks are being used as a conduit for money laundering and illegal pump and dump activities around the world. The SEC turns it’s back and, while international in scope and conducive to criminal activities and fraud upon unsuspecting individuals and investors and to money laundering or even aiding terrorists … . The worldwide Internet combined with SEC’s Reg S and lax enforcement of rules and laws already on the book have made it all too easy for these criminals to ‘reach out and touch someone’.” O5 (see also Issue 13, CEO Magazine article). Neither Mitt Romney nor Jon Huntsman has either plausibility of denial or a firewall between their campaigns and beehive state swindling cartels. Utah beehive state symbol is not so much because they raise bees but that all are to contribute selflessly to the well being of the Mormon international community. In many cases ethnocentricity occurs at the expense of others. The Utah Industrial Bank Cartel exists at the expense US Federally regulated banks. Mitt and Jon must address this issue early else Republicans will be compromised later.


MSNBC Dillian Rattigan reports: “So without further ado, I present to you the list of today’s Banksters — those who voted ‘Yes’ for Bankster billions and ‘No’ for their victims. Please check to see if your Senator is on the list: BANKSTER PARTY Robert Bennett [R-UT] Orrin Hatch [R-UT].” O6 Let us not forget Orrin got a juicy NSA (National Security Agency) earmark building for Utah as chairman of the Senate Intelligence Committee. All those US vital interest secrets will be housed in Utah not far from the Salt Lake City Utah Penny Stock and Industrial Bank Cartels. We have repeatedly cited with documents how US national security has been breached by UBS AG and its wholly owned UBS Utah Industrial Bank (alias UBS Bank USA).

UBS AG CONTINUES OFFSHORE WIRE TRANSFERS AND COMMUNICATIONS WHILE ON US JUSTICE DEPARTMENT PAROLE reports: “The UBS bankers were frequent flyers in their high-net-worth client quest, making quarterly prospecting trips to the U.S. where the bank sponsored millionaire magnet events like the UBS Trophy yacht race in Newport, Rhode Island; Art Basel (the contemporary and modern art fair in Miami); tennis tournaments; classic car shows; concerts; and other elite gatherings conducive to meeting prospective ‘new money’ clients. … ‘These were very sophisticated marketing VIP events,’ … They were also illegal insofar as the cross-border bankers were involved. The Security Exchange and Investment Advisors Acts of 1934 and 1940 bar unregistered international banker-brokers from doing business with private clients on U.S. soil, whether in person or remotely via phone, mail, Fax, email, FedEx.” O7 Via emails, UBS Ag (Switzerland) Honorable Chairman Kaspar Villiger’s office has been assisting the Palm Beach elderly UBS client retrieve his accounts shifted to Switzerland by UBS USA without client knowledge or consent. These UBS offshore wire transfers (see Issue 9, Exhibit L) were done while UBS AG was on US Justice Department parole (see Issue 10).


Reuters reports on new interim well meaning but sophomoric UBS AG CEO Sergio Ermotti who says:  “staff should focus on the needs of clients to help steer the bank through the aftermath of the trading scandal. … The only way I know of succeeding is for all of us to stand behind and follow through on our promise to our clients”. O8 The converse supposition to this statement is that UBS AG has in the past not stood behind and followed through on their promises to their clients. This has been true and correct statement. In fact, our prior issues repeatedly confirm UBS AG has allegedly fraudulently converted client assets to UBS AG, among other things. We see no change in UBS culture.


US Department of Justice Southern District of Florida news release says: ”The defendants [UBS personnel] were charged with individual counts of conspiracy, mail fraud … and laundering. Mr. — commended the investigative efforts of the IRS Criminal Investigation Division … An indictment is merely an allegation, and every defendant is presumed innocent until proven guilty beyond a reasonable doubt.” O9 There is beyond any reasonable doubt enough evidence within this newsletter and related documents to move from allegation to criminal proceedings. Again UBS was on US Justice Department parole (see Issue 10) when many of these continuing acts were committed.


Reuters reports: “The former banker, Martin Lack … was charged with one count of conspiracy to defraud the United States. Lack left UBS after losing a power struggle with senior UBS executives … Lack is the second, high-ranking former executive from UBS to be indicted. Raoul Weil, who oversaw the bank’s cross-border private banking operations from 2000-2007, was indicted in 2008 and fled to Switzerland as a fugitive in early 2009. … Lack shared business and office space with Renzo Gadola, a former senior UBS private banker who was indicted last December and is cooperating with investigators. O10 It is of concern to think prior Utah US Attorney Thomas Karrenberg is lawyer of record defending similar dubious actions of UBS Ag’s (Switzerland) wholly owned Utah Industrial Bank (alias UBS Bank USA) herein revealed. UBS has all known contingencies covered.

UBS HAS ALLEGEDLY INDEPENDENT CONTRACTOR SALES FORCE reports: “UBS AG has allegedly changed its US sales force into independent contractors to avoid liability. If true, UBS AG joins other august professions such as strip clubs and Nevada brothels. This is the same deniability maneuver used to limit liability through the plausibility of denial. UBS teaches its sales force on paper not to commit certain illegal or questionable practices. They then are secretly whispered that they will be ‘incentivised’ if they commit them. When caught, UBS has the plausibility of denying any and all knowledge of the transgressions. UBS further shows the authorities the written standard operating policies. This is the essence of what happened to UBS Bradley Birkenfeld.” O11 When will the US Justice Department react to UBS transgressions herein reported? Is US AG Eric Holder using UBS as a 2012 political tool? If so, it would be unfair to Republicans.


UK Telegraph says: “Reports emanating from Egypt claim that Mubarak had accounts with the Swiss bank UBS.” O12 UBS has billions of US dollars in unaccounted opaque black accounts. These can be for USA USA Presidential Libraries+, politicians, dictators, drug lords, white slavers and various other onerous entities.   UBS AG culture is amoral. They are smug about their types of criminal dealings. Client assets can be in the form of gold teeth or smell like cocaine. UBS facilitates all. Money is money.


HuffingtonPost reports: “The two sons of ousted President Hosni Mubarak have an estimated $340 million in Swiss bank accounts, a senior Egyptian Justice Ministry official said … Mubarak’s youngest son … used his status to muscle in on profitable enterprises, taking a cut of profits without contributing to the funds invested or work done.” O13 This behavior follows Issue 14 precepts. The first son is to be the next leader unless unpopular. UBS AG schools the controlling third world country family to use the second or third son as the UBS bagman. A reliable Swiss source says UBS AG has a curriculum for learning the oligarch procedures of looting their country assets for UBS AG numbered accounts. Most often UBS AG instructs the bagman son to start a consulting company where the family “commissions” can be collected, funneled to UBS AG and hidden in a UBS numbered accounts.


The U.N. drug and crime tsar Antonio Maria Costa has warned, “international crime syndicates pose a growing threat to global security”. O14 We have seen the devastation caused Florida senior citizens by UBS AG (Switzerland) wholly owned UBS Utah Industrial Bank, alias UBS Bank USA. Washington must enforce compliance with US Federal Law and rid the US of these cartels.

Letters to the Editor:

Dear Gentlemen:
I’ll keep it simple for your readership. I’m the spokesman for a banking association familiar with what we call the Utah Industrial Bank Cartel. This Cartel has access to the highest powers in the Utah political and judicial infrastructure. The Cartel uses this power to keep their Federally unregulated status and other competitive advantages in Washington. There is a large contingency of Mormons at the high Federal administrative levels in Washington. One only has to travel Rt 95 on the beltway just a few miles North of the White House to see the massive Mormon Temple with a Moroni idol standing atop. This powerful Cartel is strangling our business. We can’t compete with them since their costs are lower than ours and do not have to Federally report their illicit actions. They in turn threaten our client base businesses by giving “special deals” to Utah Industrial Bank Cartel associated competitors, especially if they are Mormon owned. We don’t see any let up unless people like you can come forward. You seem to be quite knowledgeable. We will gladly give you confidentially any assistance. We have passed the word about your site. We are afraid of Mitt Romney.
Bank Association Friends

In Utah and other state law enforcement there are codes that mention things the public should not know. One of these is “soiled his pants”. When this act is done in a public venue it usually is part of another criminal act. It implies a person has severe mental problems. The person is dangerous and needs psychiatric help at very least. I hope Utah Judge Sandra Peuler recognizes this fact, even though the perp (perpetrator) is another lawyer. By what the media said in your article, we assume the lawyer was involved in a UBS matter related to a case before her. There is no police record referencing her or any other judge. After a few years on the force nothing phases a police officer.
Concerned Utah State Police Officer

Dear Editor: We’ve found truly evil practices within our 3rd District Court, Salt Lake City Utah. It is true what you say. We went down and saw with our own eyes what is happening. We feel sad and pray for the elderly brought here from other states to be processed. Now we understand the reader who said it was like Auschwitz. We felt like those in the nearby town looking through the barbed wire and smelling something funny in the air. We pray for you to take this evil away from Utah. — SLC seniors group

I’m an upper echelon UBS official who anonymously would like to say incentive is everything at UBS. The same sort of ethical questions and compromises seen at investment banks have infected the whole organization. UBS has tightened up after Bradley Birkenfeld but it is the same. Every year we have new training courses about the Patriot Act and money laundering, and employees sign off that they understand. They’re all told that willful blindness is not acceptable, that you cannot be aware that there might be money laundering and not bring it to the attention of the company. And yet in our incentive programs and in the way credit is given for things, willful blindness is tolerated if not mandatory. It is one big sham. Keep up the good work until they try to shut you down. – UBS senior officer

Dear Director:                                                                                                                                  Wow. Your site reads like a John Grisham book taking place in our very own Salt Lake City. The Dudes are with u and are spreading the word that is opposite of what we are told by those who are part of this evil, like our parents. The SLC Trib news is whitewash bull keeping us from the truth. Now we see how the Holocaust worked. This is really scary stuff that our fathers might be a part of this thing. The dudes see how going through the Swiss UBS Utah Industrial Bank to create phony American documents and then legalize them through the SLC courthouse works. Sometimes we see strange people walking around. Maybe they are international criminals with phony UBS Utah documents. We are passing the word. Let us know if we can be vigilantes. — Dudes.

Dear Readership:

We cannot overemphasize the importance that all Presidential candidates should be on record committing to compelling US Industrial Banks IBs and Industrial Loan Companies (ILCs) mandatorily come under the regulatory supervision of US Federal Reserve and US Office of Comptroller of Currency. If all Presidential candidates are undeniably on record as committing to IB and ILC regulation, lobbyist pressure will dissipate under the eye of international media. We have shown within our issues UBS Ag Switzerland wholly owned UBS Utah Industrial Bank (alias UBS Bank USA) has clearly breached United States national security. In particular, we have seen within these issues the alleged cozy relationship between Judge Sandra Peuler of the Salt Lake City Courthouse and former Utah US Attorney Thomas Karrenberg, now UBS lawyer of record. We have seen both allegedly violate US Federal and Utah regulations at will. Mail fraud, IRS compliance suppression, offshore asset shifting are but a few violations purged from Case # 080968072 Salt Lake City Courthouse public court records. We have all documents available for perusal showing fraud beyond any reasonable doubt. It is mandatory within the US for court officers to report fraud upon the court. Issue 13 shows the case graph published for the Salt Lake City Courthouse. There were said to be 72,000 victims last year, of which 95% were shipped in from out-of-state and directly channeled to the Salt Lake City Courthouse to be harvested and processed. It is no wonder locals call the Courthouse “the slaughterhouse”. Most are elderly victims of the Utah Industrial Bank Cartel and its associates. We have seen the devastation the Utah Industrial Bank Cartel has caused on Florida elderly alone.
We have authoritative “letters to the editor” coming in that will have a substantial disclosure impact. Again, we are professional internationally acclaimed journalists. As such, we cannot be forced to divulge our reliable sources. We thank our readership for their trust.