Jeff Sessions and the $70 Billion Puerto Rico Bond Fraud

By Richard Lawless on April 6, 2017

While Senator Jeff Sessions apparently participated in a $70 billion Wall Street bond fraud scheme and is now using his position as attorney general to squash all criminal investigations.

In April through June of last year, Senator Sessions’ office was provided with Securities and Exchange Commission (SEC) financial audits and legal documents reflecting widespread criminal behavior by Wall Street executives. This activity resulted in the issue of $70 billion in fraudulent Puerto Rico municipal bonds.

Aware of this activity, the senator moved forward to vote for the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) legislation in June, revoking all the legal rights of the innocent bond holders and confiscating the remainder of their money. PROMESA even prevented any of the victims from suing. The senator was handsomely rewarded with political contributions from those who benefited and possibly the attorney general position.

Now as the US Attorney General, Sessions has used his authority to kill any investigations by the FBI or any prosecution by the US Attorney’s office.

According to the SEC, 69 percent of these bonds were purchased by retail investors (individuals) to supplement their retirement income. To date, $34 billion has been stolen and the rest is under the control of those that committed the crimes.

There are thousands of cases of documented wire fraud and mail fraud related to this criminal enterprise. There are civil rights issues and endless Dodd-Frank securities violations. Several private parties, desperate for justice, have filed Racketeer Influenced and Corrupt Organizations (RICO) Act lawsuits.

A few months ago, six senators wrote to the SEC and FBI requesting they investigate this further. The Department of Justice has ignored all the requests. The SEC will not comment.

This is a case that redefines political corruption and our legislators need to vote for a special prosecutor to get to the bottom of this.

Source: Caribbean News Now