Thursday, November 30, 2017

Kushner linked to Madoff Ponzi scheme through Platinum Partners collapse By The Wayne Madsen Report

Kushner linked to Madoff Ponzi scheme through Platinum Partners collapseBy The Wayne Madsen Report

Donald Trump son-in-law and special adviser Jared Kushner is linked to two of the most fraudulent financial schemes in the financial history of Wall Street, the Bernie Madoff securities fraud Ponzi scheme and the financial collapse of the fraudulent hedge fund, Platinum Partners. Kushner's aunt and uncle, Richard and Marisa Stadtmauer were major investors in Platinum Partners, along with Madoff Investment Securities LLC, the company operated by the imprisoned-for-life financial manipulator Bernie Madoff. 

Madoff funds were transferred to Platinum Partners via the Jay Cohen Revocable Trust of New York. $9.271 billion of Madoff funds have already been recovered and distributed to victims of Madoff's fraud. Richard Stadtmauer, who was number two in the Kushner Companies when the firm was being run by Jared's father, Charles Kushner, served a 38-month prison sentence for fraudulent activities associated with Charles Kushner. Charles Kushner received a two-year prison sentence -- serving only 14 months of it -- for illegal campaign contributions, tax evasion, and witness tampering. Charles Kushner's wife Seryl is the sister of Richard Stadtmauer. The Ponzi schemes and interlocking corporations involving the Kushners, Stadtmauers, Trumps, Manaforts, and others are notable for the involvement of entire families. This is especially the case with the Russian and Israeli oligarchs who have been involved in Trump and Kushner businesses.

Platinum Partners and its principals were the subject of a federal criminal indictment for fraud between 2011 and 2016. This included bilking the New York Correction Officers’ Benevolent Association (COBA) out of $20 million from its pension fund. Indicted in the fraud were Platinum's chief investment officer Mark Nordlicht, its founder Murray Huberfeld, Platinum marketing officer Uri Landesman, and COBA president Norman Seabrook. Many of those who invested in Platinum were the same wealthy New York and Florida Jews who were investors in Madoff's securities scheme.

Platinum maintained that it had $1.3 billion in assets but, in reality, had only $68,530 in cash. Some of the Eastern District of New York prosecutors in Brooklyn are now members of Justice Department Special Counsel Robert Mueller's team that is investigating Kushner's and Trump's dubious business ties.

Platinum's insolvency and bankruptcy resulted in a major lender, Parris Investments Ltd. of New Zealand, petitioning a Cayman Islands court to roll up Platinum's Offshore Feeder Fund, which was incorporated in Grand Cayman. One of Platinum's principals, Murray Huberfeld, a friend of Richard Stadtmauer, paid a bribe to COBA's Seabrook, in return for the investment of the pension fund money in Platinum. Huberfeld was major investor in the Livingston, New Jersey-based bank NorCrown, which was owned by Charles Kushner.

WMR previously reported that Madoff would order his employees to "roll the accounts" in the Cayman Islands every business day at 3:00 pm. When it came to manipulating hundreds of millions of dollars using the bank and corporate secrecy laws of the Cayman Islands, the Madoffs, Kushners, and Stadtmauers were experts. And the patriarchs of all three families are serving or have served prison sentences for their fraud schemes. Rather than keep such individuals as far from his administration as possible, Donald Trump has appointed Jared Kushner to several key posts, including special Middle East envoy and China trade interlocutor, to name but a few.

Trump's real estate schemes have also relied heavily on offshore financial contrivances that rely on tax havens and their bank and corporate secrecy laws.

In the federal government's criminal complaint filed against seven Platinum principals on December 14, 2016, the government stated that Nordlicht and an unnamed co-conspirator planned to flee the United States. The indictment reads: "On or about December 13, 2015, Nordlicht, Landesman, and an unnamed coconspirator sent emails 'that contemplated Nordlicht and Co-Conspirator 1 fleeing from the United States and illustrated their knowledge and awareness of the fraudulent scheme perpetrated on Platinum's investors and prospective investors.'" The e-mail from Co-Conspirator 1 stated "Don't forget books. Assume we are not coming back to ny[.] Just to be safe. Depends on Miami[.] We can fly straiggt [sic] to europe from miami on Tuesday[.] Take passport." Nordlicht responded in an email to Co-Conspirator 1: "Am on my way to jfk with kids for their 6 pm flight to Israel. [Co-Conspirator 2] ducking my calls . . .[My wife] is literally making me get on Israel flight if we don't connect and agree what we are doing."

Landesman responded to Nordlicht's email to Co-Conspirator 1, which Nordlicht had forwarded to Landeman: "You should get on the flight if there is no bridge [loan], probably even if there is...We need to go through the mehalech of how we are going to share this with clients and employees, going to be very rough, big shame." Mehalech is a Hebrew word, which means "a way of operating." Some critics of unethical Jewish business practices define mehalech as committing fraud against others while carrying a clean conscience. In any case, Israel has welcomed with open arms Jews who are on the lam from law enforcement in countries as varied as the United States and Russia to Colombia and Romania.

Platinum Partners owned Black Elk Energy, a Houston firm that also declared bankruptcy. Black Elk Energy Offshore Operations' West Delta 32 oil platform, located 17 miles southeast of Grand Isle, Louisiana, suffered an explosion that killed three crewmen on November 16, 2012. [pictured, right]. Black Elk and its sub-contractors were named in 41 citations issued by the Interior Department's 
Bureau of Safety and Environmental Enforcement (BSEE) that later resulted in criminal charges being filed against the firm. A link to those citations, which appeared on BSEE's website, now results in a "404 -- page not found" message.

Black Elk Energy was affiliated with other Houston firms, including Iron Island Technologies, Inc., Iron Island Technologies I, Deepwater Solutions LLC, Freedom HHC Management LLC, and Elk Well Services LLC.

With Kushner-related businesses active in the Texas oil industry, Jared Kushner's recent all-night "strategizing" in Riyadh with Saudi Crown Prince Mohammed bin Salman becomes even more suspicious.