Monday, May 4, 2009

Does This Story EXPOSE California Pension Scandal TO THE CORE ("The Godfather of Pension Agents")

IS RICHARD ZIMAN THE UNDISCLOSED GODFATHER OF PLACEMENT AGENTS?
by Anonymous Zuma Dogg Fan

The press is missing the boat on the incestuous relationship between Wetherly Capital, DAV Wetherly, Dan Weinstein, Vicky Schiff, Richard Ziman, Peter Borges, Rexford Industrial, American Value Partners (AVP), and Arden Realty. Wetherly Capital and its owners Weinstein, Schiff, Borges, and Ziman are deeply embroiled in the New York, New Mexico, Los Angeles, and possibly nationwide (Connecticut and others) pension fund scandal involving placement agents. The New York and Federal indictments state that Wetherly shared placement fees with indicted Hank Morris around the country including, New Mexico, California, and Los Angeles

Although only listed as a technical advisor on the website and claims to be unpaid, the brains, brawn and political influence behind Wetherly is Los Angeles real estate magnate Richard Ziman. It is clear that Richard Ziman, the founder and seed capital of Wetherly, Rexford, AVP, and Arden, is the Godfather controlling the strings of his puppets. As a founder and co-owner of Wetherly Capital and DAV Wetherly, it is shocking that Ziman has raised millions of dollars for his AVP and Rexford funds.

Ziman together with his “CAPO” Dan Weinstein have, for many years, donated and bundled large amounts of campaign contributions and have close relationship with top elected officials across the Country, including, the Clintons, New Mexico Governor Bill Richardson, Former California Governor Gray Davis, former California Controller Steve Westly, California Attorney General Jerry Brown, disgraced New York State Comptroller Alan Hevesi, New York Attorney General Andrew Cuomo, former California Treasurer Phil Angelides, Mayor Villagrosa, and many others. Daphna and Richard Ziman open their Beverly Hills mansion countless times a year for political candidates, many of whom wield power and influence critical to Wetherly’s success as a placement agent.

Ziman, Weinstein, Schiff, and Borges have often used their political influence and their Wetherly platform to raise billions of dollars from public pension funds around the country. In so doing, they collected untold tens of millions of dollars in placement fees.

It is well known that current Connecticut Treasurer Denise Nappier use to work for Frank Borges (former Connecticut Treasure Frank Borges founded Landmark Private Equity Fund sometime after leaving office). Frank and Denise have maintained a very close relationship over the years. Because of this relationship, Peter Borges, Frank’s brother and co-owner of Wetherly Capital, DAV Wetherly, and AVP, has been able to reap untold millions of dollars in placement fees by introducing funds to Connecticut.

To be clear, Peter Borges is a placement agent. His brother Frank is past Treasurer of Connecticut. Denise Nappier worked for Frank. Peter Borges is not only a placement agent but is an owner of a real estate fund of funds named American Value Partners (AVP). In addition, the Godfather, Richard Ziman, has an ownership interest in all the people and companies involved.

Wetherly counts among its significant clients the following:

1. Arthur Levine and his partner Lauren Leichtman of Levine-Leichtman Capital Partners;
2. Henry Cisnero of City View;
3. Tony Ressler and John Kissick of Ares Capital;
4. Tony Ressler’s brother, Richard Ressler of CIM;
5. Roy Disney and Stanley Gold Shamrock;
6. Brad Freeman, US Ambassador Ron Spogli and William Wardlaw of Freeman & Spogli;
7. Gerry Pasky of Aurora Capital; and
8. Richard Ziman, Vicky Schiff, and Peter Borges of American Value Partners.

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