Is there a Ponzi Scheme involving Citigroup that is being suppressed by the press?

[mod mom]

I am wondering if anyone has details on a federal lawsuit filed involving $122 billion and whether it is of merit or RW tripe? Is the press willing to expose certain Ponzi schemes while protecting others involved. I thought DUers might have information on this. Thanks.

[elleng]

1. Have you heard of some such?

Madoff?

http://business.theage.com.au/business/madoff-to-face-manhattan-court-in-76bn-fraud-case-20081214-6ybm.html

[mod mom]

2. No, I received an email from UK that says a federal suit was filed and that the

Madoff Scheme is being pushed while this larger one is being suppressed to protect those involved. I have little faith in the media so I was wondering if this protection might be true.

[marmar]

3. I'd believe it......

Distract them with a small house fire while the whole city is burning in the background. (Sorry about the made-up-on-the-fly metaphor)

[malaise]

4. The entire global financial set up

is one grant ponzi scheme. Expose them all.
What interests me most is how much of this money was siphoned off to illegal activities.
I have one more question - how has the increased security at airports prevented the big boys from washing the drug money for a nice fee.

[formercia]

6. They use shipping containers blessed by US Customs.

http://www.cbp.gov/xp/cgov/newsroom/news_releases/archives/2004_press_releases/082004/08252004.xml

U.S. Customs and Border Protection Achieves Container Security Initiative (CSI) Milestone Of 25 Operational Ports

(Wednesday, August 25, 2004)

contacts for this news release

Washington — U.S. Customs and Border Protection (CBP) Commissioner Robert C. Bonner announced today a milestone in the Container Security Initiative (CSI) with 25 ports now operational in Europe, Asia, Africa, and North America.

“The 25 ports represent the world’s major seaports, but we are not stopping there. We plan to expand the CSI network even farther,” stated U.S. Customs and Border Protection Commissioner Robert C. Bonner. “The expansion will extend port security protection to more than 80 percent of all containers coming to the United States.”

CSI will be expanding to strategic locations that ship substantial amounts of cargo to the United States, and that have the infrastructure and technology in place to participate in the program.

The 25 operational ports include: Halifax, Montreal, and Vancouver, Canada; Rotterdam, The Netherlands; Le Havre, France; Bremerhaven and Hamburg, Germany; Antwerp, Belgium; Singapore; Yokohama, Tokyo, Nagoya and Kobe, Japan; Hong Kong; Göteborg, Sweden; Felixstowe, United Kingdom; Genoa and La Spezia, Italy; Busan, Korea; Durban, South Africa; Port Klang and Tanjung Pelepas, Malaysia; Piraeus, Greece; Algeciras, Spain; Laem Chabang, Thailand.

CSI was proposed by Commissioner Bonner and launched in January 2002. CSI has been accepted globally as a bold and revolutionary initiative to secure maritime cargo shipments against the terrorist threat.

--snip--

This information comes from a well connected source.

[malaise]

7. That's how they move it here these days as well

Thanks.

[formercia]

8. 'Approved' shippers never get checked.

It's a relationship based on trust. :sarcasm:

[elleng]

5. Try some sleuthing yourself?

UK e-mail possible to share with someones, like REAL investigative reporters? or trusted people at SEC or elsewhere?

[sixmile]

9. Yes filed on December 4, 2008

http://www.nypost.com/seven/12042008/business/ponzi_scheme_at_citi_142511.htm