NY Judge in Largest Bankruptcy Case in History Receives IRS & SEC Whistleblower Filing

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NY Judge in Largest Bankruptcy Case in History Receives IRS & SEC Whistleblower Filing

New York City, New York – U. S. Bankruptcy Court, Southern District of New York’s Judge Martin Glenn, presiding over the simultaneous Chapter 11 bankruptcy filings of 51 residential mortgage companies, received a whistleblower filing package from one of the creditors in this case, a private American citizen, Greg Morse.

The Internal Revenue Service and Securities Exchange Commission received the same package today. Among its contents is Morse’s whistleblower submission of IRS Form 211—Application for Award for Original Information, and SEC Form TCR—SEC Tip, Complaint or Referral, accompanied by voluminous supporting documentation. These federal agencies are mandated to investigate allegations of corruption and fraud.

The 51 bankrupt residential mortgage companies are directly or indirectly owned by Residential Capital, also known as ResCap.

Morse, a commissioned officer was honorably discharged from the U. S. Air Force and the U. S. Navy as an F-4 Phantom fighter pilot. He was one of the initial people who uncovered and successfully prosecuted a federal fraud case regarding the savings and loan debacle in the late 1980’s.

Like millions of Americans, Morse, believed when he refinanced his home mortgage in 2008 that it was legitimate but found out otherwise when he discovered that his chain of title had been broken by Mortgage Electronic Registration Systems, Inc. (MERS). His home in Texas was not and is not in foreclosure. He has never been late or missed a mortgage payment.

According to N.Y. bankruptcy court records, as of March, 2012, at stake are over 2.4 million mortgages and Residential Mortgage Backed Securities (RMBS) representing over 6.2 million Americans, according to U. S. census statistics.

The value of this bankruptcy case, as of today, is well over $400 billion—making it the largest bankruptcy in history.

There has been virtually no press coverage of this bankruptcy that affects the entire U.S. economy, millions of homeowners and nations who purchased RMBS securities. It far exceeds, in dollar volume and social impact, the General Motors bankruptcy which garnered front page media coverage for months.

68 percent of these mortgages in this N.Y. bankruptcy are either owned, insured, or guaranteed by Government Sponsored Enterprises (GSEs) of Fannie Mae, Freddie Mac and Ginnie Mae. Purportedly, a significant number of the mortgages are owned by RMBS Trusts.

Fannie Mae and Freddie Mac are in conservatorship (bankruptcy). Their conservator is the U. S. Federal Housing Finance Agency (FHFA). $45 billion is guaranteed by Ginnie Mae.

It appears this single bankruptcy represents at least 3% of all active U.S. residential mortgages.

Morse’s whistleblower filing package that was received by Judge Glenn today includes his 279 page jurat affidavit in support of IRS Form 211 and SEC Form TCR. His jurat affidavit is supported by 11,000 pages of corroborated, publicly sourced and court admissible evidence related to the mortgage crisis, the 2008 economic crash, his 2011 Racketeer Influence and Corrupt Organizations Act (RICO) civil case addressing his fraudulent mortgage—and the alleged acts of securities fraud, income tax fraud and income tax evasion.

Full report can be read here…

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4closureFraud.org

Comments
8 Responses to “NY Judge in Largest Bankruptcy Case in History Receives IRS & SEC Whistleblower Filing”
  1. hammertime says:

    Anyone want to team up with others on message board can reach me here
    http://bit.ly/Si8EL5

  2. Linda Moore says:

    Besides securing many home owners the ability to sue for mortgage fraud Greg Morse has also begun the documentation to PROVE BANKRUPTCY FRAUD AGAINST ALL 51 RESIDENTIAL MORTGAGE COMPANIES.

    By filing a civil suit the Petitioner can also enjoin the federal government to litigate against the Defendant Banksters. In other words, force the Justice Department to prosecute Banksters. The Justice Department can subvert one civil litigant but what can do they when they are enjoined by thousands of civil litigants suing their mortgage lenders.

    Forget finding law firms to pick up and litigate against Banksters. Compile a group of retired federal judges (they are attorneys) to form special litigation groups by state and nothing will stop them. They’re retired, they aren’t depending on Banksters for their income and these Judges know how corrupt our government has become in protecting the corporate criminals.

    Law firms won’t represent individuals on mortgage fraud cases because they make far more money representing the Banksters who have all your stolen money to stay out of court.

  3. dc says:

    Well they know the American people have become soft and have no balls or time to flex their constitutional muscles,so this is what we deserve so they think.The issue is that we are on the verge of losing all of our rights if we dont come together in some very big numbers,but thats proven to be a uphill battle.When I have tried to explain this fraud to people who I know and that like me they look at me as though I am completely crazy,they cant get their heads around the possibility of such a thing.Let just look at what goes down from the point of becoming past due on a predatory/fraudulent loan and forget the B.S of the other side,just the actions of National Banks from that point on is criminal,so then you go from the Origination and it becomes a complete shitstorm.

  4. Mystify says:

    Mike I agree with both of you but I fear we are past the point of fixing this mess! All we can do now is clear the slate and start over which means there are going to be a lot more losses…

    • Mike Drouin says:

      After I sent the last post , Wells Fargo through their Lawyers , sent us a notice of Foreclosure sale through the mail , and set the date of May 23 , 2014 for that sale . They are in total disregard for the Fraudulent Assignment that exist in the land records and a Federal Court Judge ruled against May 18 , 2012 .In disregard for the Judges opinion to not foreclose until these matters be resolved , They have set the date of the sale of our home ?!?!
      Where are the Powers created for our protection ??? The actions of this financial Institution defy and violate our Constitutional rights by taking our home by ” Criminal means ” ?!?!

      Almighty GOD , save us from that day , and deliver us from the oppressive and violent behavior of these Institutions which has brought so much Hurt to the People of this Nation and bring a standard against them that will hold them accountable for the damage they are doing to us all…. And all of GOD’S People said…… AMEN !

  5. Mike Drouin says:

    What encourages me is that people are starting to realize the Magnitude of what’s taken place , but what I’m afraid of is that because of the ” SHOCK ” these conditions put a person in , they won’t allow themselves to accept the full extent of what is going on or has happened because if they do , they will realize the Calvary / Government isn’t going to come riding over the Hill to save the day and The Justice Departments of all the States have been paid off to ” Stand Down ” with that Twenty – Five billion dollar settlement .
    The Judicial is following suit as they try to get passed one of the largest Mortgage Scams ever to hit this Nation .
    Yes we’ve cracked the egg , but its going to take a relentless and collective effort of the victims of these CRIMES to expose what they , that are involved , are so adamant to deny .
    I talk to everyone I can about my situation in order to expose what’s going on , I encourage all to do the same …. United we Stand ……

  6. Bill says:

    I keep hoping that the Truth “surrounding” all of this activity will be brought to light, and dealt with Justly. This at least sounds like it belongs in the “Arena” of wrongdoings of which some action should be taken. But we’re talking since around 2006! In guess Hope is the key word. As far as the “Press” goes, I never realized their strength when I was younger. Now… well, it “Angers” Me.

    • Mike Drouin says:

      Well Bill , After being directly involved in this disgusting behavior of our Financial institutions and witnessing the reaction by the very powers created for our protection , One can’t help but lose faith in what we are suppose to stand for and protect . This has brought to light just how corrupt the system really has become . The Three Branches of Government , The Executive , The Legislative , and The Judicial , all have been manipulated by the Banks , Unions , and Big Business , Our Political Leaders have been Bought and Paid for by these entities time after time to pass legislation that benefits the Affluent of our society and financially slaughters those in pursuit of the American Dream !
      All this has taken place while our Corporate Controlled Media proclaims everything is alright !?!? Well its not Alright!!! Our sons and Daughter’s of the Republic who are putting their lives on the line in Foreign Countries are coming back home only to have Crimes being committed against them by our Financial institutions and their homes taken away with the support of the Government that sends them into harms way !?!? ENOUGH ! Its time the People send a message to Washington and hold them accountable to do what’s right , no matter what the cost . If we can’t come together as a people with one voice to change the Status Quo , Then you will sit in your anger and I in my disgust fearing for our children’s future , knowing that its just a matter of time before this whole corrupt system propped up by FRAUD comes crashing down on all of us …..

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