Another Madoff-Like Rip-Off In LA....

The agency accuses Friedman, convicted of grand theft in 1981, of stealing $17 million from investors. A judge freezes the assets of two Sherman Oaks firms he owns.

By Stuart Pfeifer
March 6, 2009

A federal judge in Los Angeles froze the assets Thursday of two Sherman Oaks companies owned by a convicted felon accused of stealing $17 million from investors and spending it on personal luxuries and high-profile charitable donations.

The judge's order was sought by the Securities and Exchange Commission, which sued Bruce Fred Friedman, who heads two investment firms, Diversified Lending Group Inc. and Applied Equities Inc. The SEC accused him of diverting investors' money to himself and to a charity he founded and operates.

Friedman, 59, is best known for his charitable activities in recent years, including a $5-million pledge to help the Dodgers Dream Foundation build 42 youth baseball fields and a $10-million gift to help build the Children's Museum of Los Angeles in Lakeview Terrace.

Neither Friedman nor his son and business partner, Daryn Friedman, could be reached for comment.

The lawsuit said that since 2004 Friedman had sold $216 million of "secured investment notes" to hundreds of investors across the United States, many of whom the SEC described as "older Americans." No investors were named in the lawsuit.


He attracted investors to his companies by describing his notes as a "safe, guaranteed, solid investment," according to the lawsuit, and offered a return of 9% to 12%. He sent investors monthly mailings in which he said he continued to invest their money in real estate and loans, while he was secretly diverting millions of dollars, the SEC said.

Friedman promised to invest the money in real estate and mortgage lending, but at least $17 million of it was diverted for Friedman's personal use, the SEC contended.

According to the lawsuit, he spent much of the money on luxuries that included a $6.5-million Malibu home, vacations, cars, jewelry and designer clothing. The SEC said Friedman gave at least $1.8 million of investor money to his charity, the Friedman Charitable Foundation.

The lawsuit comes 28 years after Friedman was convicted of grand theft and sentenced to 40 months in state prison for stealing $300,000 from Avery International Corp., according to court records.

Friedman pleaded no contest to the felony charge during a January 1981 hearing in Pasadena, court records show. Avery International, now Avery Dennison Corp., is a Pasadena manufacturer of labels and self-adhesive products.

Avery Dennison spokesman Jeffrey Pina said he was unable to provide any information about the theft or Friedman's employment with the firm.

The Friedman Charitable Foundation, founded in 2006, became a well-known Dodgers sponsor after pledging $100 to a team charity each time a player scored a run. In 2007, that amounted to a $37,600 contribution, according to a Dodgers news release.

Last year, Friedman stood with Dodgers owner Frank McCourt and Los Angeles Mayor Antonio Villaraigosa at events where his charitable donations were saluted.

At a news conference in November, McCourt announced a joint venture between the Dodgers Dream Foundation and the Friedman Charitable Foundation to build baseball fields throughout the greater Los Angeles region.

Friedman pledged to match the Dodgers' spending dollar for dollar, up to $5 million. In a video available on the Dodgers website, Friedman said the project "is a big effort for everyone who is involved."

Dodgers spokesman Charles Steinberg said the team had not started construction on the 42 ball fields it announced in November, so it had not yet asked Friedman for any of the money he had pledged.

Steinberg said the SEC's lawsuit "certainly raises a subject that we will look into." He said the team was unaware that Friedman was convicted of grand theft in 1981 and sentenced to more than three years in prison.

"The Friedmans have been good fans of the Dodgers and we hope that these allegations aren't true," Steinberg said.

At a separate news conference in November, Daryn Friedman disclosed that the foundation had been the anonymous donor that pledged $10 million in 2007 to help build the children's museum. Cecilia Aguilera Glassman, the museum's chief executive, said $10 million represented a significant portion of the $58.5 million budgeted for the museum, scheduled to open in June.

Of the Friedman family, she said: "As donors, they were incredibly interested in this project and its success and what it would mean to the children of Los Angeles."

"I understand what's been charged and I will be looking into it," she said. "I have no knowledge other than what I've read in an article. At this point, I have to seek counsel."

In addition to the money spent on himself and charity, the SEC said, Friedman spent $500,000 to help produce a rock documentary and gave $275,000 to his girlfriend, Tina Placourakis.

According to the Internet Movie Database, Bruce Friedman is an executive producer of "Rock Prophecies," a documentary featuring Carlos Santana and ZZ Top scheduled for direct release on DVD in October.

Friedman is another Madoff. Is there any qusetion what is going on?

NBC Executives: "Hands Off The Yids...".

NBC Pulls "Anti-Semitic" Saturday Night Live Skit
Satire of Jewish Bankers Verboten, Jewish Media Bosses Say

New York, New York -- A Saturday Night Live skit that mocked Jewish bankers Herb and Marion Sanders and Jewish financier George Soros and identified them as "people who should be shot" has been pulled from the NBC website and banned after Jewish media executives determined it was "anti-Semitic".
The skit, which shows the Jewish bankers cackling and laughing about the profits they've made before they embezzle federal bailout money and use it to short the dollar, causing a US financial collapse, was the subject of complaints from Jewish groups who expressed "concern" that the show did not satire any gentile bankers.

Of course, gentile bankers that have played a direct role in the American financial collapse are hard to find, as Soros, a Barack Obama campaign advisor, who, together with Larry Summers and Robert Rubin, engineered much of the US collapse, was paired by Herb and Marion Sanders, who sold Wachovia the failed subprime mortgage business Golden West, directly causing the bank's failure and its acquisition by Rubin's Citigroup.

"There is definitely a fear among certain Jews in this industry," a Jewish banker speaking on terms of anonymity, told the Jewish Telegraphic Agency, "There's a growing animosity towards the wealthy, and especially the wealthy that have made money on Wall Street and real estate and finance, as so many Jews have -- some legitimately, some not so. It's very easy to generalize that it must be the entire Jewish people."

NBC, which, like most television networks and programs, is also controlled by Jews, responded to complaints from the Learned Elders of Zion, manifest in groups like the Conference of Presidents of Major Jewish Organizations and the Anti-Defamation League, and by pulling the skit and banning it from ever airing again.

Having looted and plundered the United States like the blood sucking demonic parasites they are, the Jews are now backing both major presidential candidates and looking forward to completely destroying the American nation before jumping ship and heading to either Europe or Asia for another host to consume.

For thousands of years, Jews have destroyed nations by attaching themselves to the banking and trade systems and then using usury and internationalist open borders policies to bleed the countries dry. Jews took control of the American financial system during the Great Depression, then took control of the social system during the 1960s, creating so much chaos that they were able to dictate financial and international policies in the 1980s and 1990s that led directly to the financial collapse of today.

Censored Video and Articles Here

Another T.J.B. Madoff-Like Scammer: Arthur Nadel....

More T.J.B. from another choosenite:

In a case with parallels to the Bernie Madoff scandal, a prominent Florida hedge fund manager has vanished - and so has up to $350 million of his clients' money.

Sarasota police are looking into claims that Arthur Nadel, 76, defrauded investors before leaving a distraught note for his family and disappearing.

Cops began investigating on Friday after investors complained that Nadel, president of Scoop Management, left them high and dry.

"You're talking about people who have lost the majority of their life savings," Police Capt. Bill Spitler said. "Many of our victims have lost $500,000 and up."

Neil Moody, Nadel's business associate, said six funds worth $350 million at the end of the year may be worthless.

"We'd like to get him back here to answer some questions," said Moody, who knew Nadel for 12 years.

He said it was unclear whether Nadel had stolen money but that his own family had $12 million at stake. Nadel graduated from New York University Law School but was disbarred decades ago for investing escrow funds, Moody said.

Nadel's fifth wife, Peg, filed a missing persons report on Wednesday. She said she was worried about her husband and working with authorities.

But Moody believes Nadel is alive.

"At this point we have every indication that he is," Moody told Reuters, adding that he did not know where Nadel was.

"If we knew where he was, we'd be on him," Moody said.

Jerry Meketon, a 76-year-old retired psychologist married to one of Nadel's ex-wives, said investors should have been more aware of the potential pitfalls.

"He was lauded as a brilliant investor who worked out of a black box," he said. "You put money in, you don't know how he works it, but money comes out."

Last month, authorities charged Madoff, 70, with duping investors in a $50 billion Ponzi scheme.

Story Here

A Picture Says A Thousand Words

What a coincidence! Look who’s in the green.

By Mark Faust October 10, 2008

Still don’t think that it’s Jews behind the worlds economic crisis? Take a look at the picture below (from today) and tell me the ONLY country who has had an increase in their equity.

Was the Russian JEWISH Mafia Involved in the Mortgage Bailout Crisis? Does a Bear Shit in the Woods?

Read about it and watch video HERE

HUD: Five Million Fraudulent Mortgages Held by ILLEGALS!

(Credit goes out to Wild Bill Hyde for finding this story!)

Just one more reason why America is in a financial mess right now:

HUD: FIVE MILLION FRAUDULENT MORTGAGES HELD BY ILLEGALS-

One illegal alien was arrested this year in Tucson after allegedly using a stolen social security number to buy two homes and rack up over $780,000 in bad debt.

Some five million fraudulent home mortgages are in the hands of illegal aliens, according to the U.S. Department of Housing and Urban Development.
It's not known how many of those have contributed to the subprime housing mortgage meltdown, but it has affected every state, including Arizona.
The problem began years ago when banks were forced to give mortgages without confirming social security numbers or borrower identification. As a result, illegal immigrants were able to obtain home mortgages which they could not afford.
One illegal alien was arrested this year in Tucson after allegedly using a stolen social security number to buy two homes and rack up over $780,000 in bad debt.

Story Here