To: Federal Bureau of Investigations, Wilshire Blvd., Los Angeles
Fr: Zuma Dogg
Re: Pension Fraud in Los Angeles As Relating To Antonio Villaraigosa
Dt: February 8, 2011
Much has been blogged about over the past few years, and past few days regarding the topic of LACERS (Los Angeles City Employee Retirement System) -- and it's accompanying LAFPP (Los Angeles Police & Fire Pension) funds.
Check this blog for recent posts on this topic from the past two weeks on LA City News.com. (As Federal Investigators, won't take you took long to find. Just look at "LA CITY NEWS HEADLINES" links on right hand column of this blog...PLUS, I posted top recent links below, in this blog thread.)
AND FOR NOW, here is a brief rundown of the framework/blueprint for pension fraud. (The reason this continues to be the top issue blogged here, is because billions were lost in these CRA/LA and other real estate and LLC investments. And now the city must bail out these pension funds out of general fund money. And this shock wave has caused the city to layoff/furlough 1000's of employees, with more to come. And has put all department and services, including Fire and Police services at risk. This has all become a tremendous public safety crisis. And the players involved need to be removed from their elected positions.
In 2005, Antonio Villaraigosa was sworn in as Los Angeles mayor. First thing he did was appoint Elliot Broidy, Sean Harrigan and Kelly Candalle to the LACERS pension board as commissioners.
Secondly, Villaraigsa appointed Wetherly Capital's lead counsel, William H. Jackson as head of CRA/LA. Wetherly is a capital venture firm in Los Angeles headed by Richard Ziman (also of American Value Partners.)
Also part of Ziman's Wetherly Capital politically connected team were Richard Ramirez, Dan Weinstein and Vicky Schiff.
Ziman (Wetherly) holds fundraisers for people like Villaragisoa, Jack Weiss, Christine Essel (current head of CRA/LA.) In other words, he backs candidates through his political fundraisers.
Richard Riordan ALSO part of "Team Wetherly Capital" as political fundraiser and backer at Wetherly fundraisers.
So Team Wetherly Capital backs Villaraigosa and he becomes mayor. He then appoints Elliot Broidy & cronies mentioned above to LACERS pension board and Wethelry's lawyer as head of CRA/LA.
Then pension money is funneled into shady, overly risky, non-investment grade financial instruments in the form of fake, phony LLCs on Wall Street, bogus real estate deal, including CRA/LA projects like Grand Avenue Project and LA Live/Ritz-Carlton.
The investments are made through McFarlane Urban Developers (Victor McFarlane). McFarlane is ninety percent (90%) funded with LACERS money.
Since billions were lost, once these projects went BUST, and after all the money went into the "front-end loaded" management and construction contracts and was GONE) --L.A. City CAO told L.A. Council that the top reason the city lost billions in pension money is, "because of the mayor's pension packing power (can appoint four or five commissioners to the board) and the city's investment in overly-risky, non-investment grade financial instruments and real estate projects. And specifically, the Henry Cisneros HUD Workforce Housing project.)
Harrigan & Candalle stepped down from the LACERS board amidst controversy for their participation in a Wetherly Capital fundraiser for Jack Weiss.
Elliot Broidy has plead guilty and is in jail.
Julio Ramirez has plead guilty and is in jail.
Victor McFarlane stepped down from some things he was a part of over pension controversy. (Check it out online.)
Dan Weinstien & Vicky Schiff were busted by NY AG Andrew Cuomo and took a deal that shut down Wetherly Capital FOREVER and they were fined a million dollars.
IT'S ALL OUT OF LOS ANGELES AND THEY ALL TIE TO MAYOR ANTONIO VILLARAIGOSA -- AND RECORD LEVELS OF MUNICIPAL BANKRUPTING MONEY WAS LOST.
ALSO: Check into Villaraigosa's "VACATION" to Iceland to see if he perhaps flew there to try and talk the Iceland government into settling on some of those derivative markets they were playing that crashed on L.A. City Hall in the '08 crash.
MORE TO COME...that's a nice introduction.
MORE ON THIS TOPIC AS BLOGGED ON LA CITY NEWS:
NATIONAL MEDIA ALERT: This is the single, most devastating blog post in human history toward the goal of exposing; pension fraud, developer racketeering and non-profit fraud, waste and abuse.
NATIONAL MEDIA ALERT: California Pension Scandal (Fraud) EXPOSED, and it points to Los Angeles City Hall and Mayor Antonio Villaraigosa
INVESTIGATORS: Names Associated with NEW YORK Pension Fraud To CONNECT To LOS ANGELES PENSION FRAUD (See Also: "Antonio Villaraiogsa")
L.A. City News HARDBALL Blog Post from Zuma Dogg -- DESIGNED TO GIVE INVESTIGATORS ALL THE NAMES THEY NEED TO PULL OUT HANDCUFFS!!!
HOLY F-ING MACKEREL: Look at this PENSION FRAUD - MASTER BLOG POST from 2009: (I have a LOT of re-reading to do.) http://ow.ly/3SVpa
Questions Reporters Are Calling Villaraigosa's City Hall Office Over (Did Villaraiogsa Appoint NON-DOCUMENTED COMMISSIONER APPOINTMENTS) and MORE