Friday, June 17, 2011

MASSIVE L.A. HOUSING FRAUD CASE: L.A.Kingpin Richard Alatorre asked to explain $1 mil payments he received from FBI Scrutinized Housing Developer, ADI

BREAKING: L.A. TIMES

(L.A. Corruption Kingpin waves "buh-bye," cause IT'S OVER! You may have never heard of this guy...but when THIS guy gets taken down, it's like Marlon Brando/Don Corleone being taken down. WHOEVER is making your life miserable through L.A. City Hall/Board of Supervisor corruption, ALL report to him!)

LA TIMES EXCLUSIVE:

Richard Alatorre asked to explain payments from developer now under scrutiny in fraud case

Overseer wants the lobbyist and former councilman to document nearly $1 million he received from ADI, which is under investigation by federal agencies.

By David Zahniser and Jessica Garrison, Los Angeles Times

June 18, 2011
A court-appointed overseer in a massive housing fraud case is demanding that former city councilman-turned-political consultant Richard Alatorre explain nearly $1 million in payments he received from a developer accused of bilking Los Angeles and other entities of at least $134 million.

Attorney David Pasternak, the receiver in the case, said he has found scant records explaining what Alatorre did for the steady stream of payments he received between 2002 and 2010.

The politically connected firm at the heart of the scandal, Los Angeles-based Advanced Development and Investment, is under scrutiny from the FBI, the IRS and the U.S. attorney's office. ADI also has been sued by the cities of Los Angeles and Glendale, which say the company inflated its bills for taxpayer-financed housing projects.

Read More/Full Article on LA Times website...


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