#1675: Marine Links Pearce’s Force-Placed Insurance MindBox Frauds to MI-3 Pacific Rim Arson, WTC#7 Bomb
Source: Plum City – (AbelDanger.net). United States Marine Field McConnell has linked
Doug Pearce, the de facto custodian of bcIMC’s MindBox rule set and associated mortgage portfolio, to force-placed insurance frauds allegedly involving MI-3 agents hired by bcIMC partners for arson attacks on the Pacific Rim Resort property owned by the English family near Tofino, B.C., and the incendiary bomb attacks on WTC#7 in New York on 9/11.
McConnell claims that MI-3 agents gave Pearce’s bcIMC colleagues and partners the escrow keys needed to trigger MindBox force-placed insurance rule sets and accelerate debt recovery on mortgages held by Parkbridge (Pacific Rim) and Blackstone (WTC#7).
MI-3 = Patent-pool protection racket which controls the City Livery Companies global supply chains
Marcy (Crown Agents’ bona vacantia – Prisoner Medical Services – JABS – DOJ Asset Forfeiture Funds)
+ Inkster (RCMP Wandering Persons Registry – KPMG Consulting Mortgage Escrow for bcIMC et al.)
+ Interpol (Berlin 1942-1945 – Operation Paperclip – Foreign Fugitive File)
+ Intrepid (William Stephenson – GAPAN patent pool – Pearl Harbor attack – Kanada Kommando)
MI-3 = Marine Insertion Intelligence and Investigation unit set up in 1987 to destroy above
McConnell notes that in Book 12, published at www.abeldanger.net, agents deployed by the Marine Insertion, Intelligence and Investigations (MI-3) group are mingling in various OODA modes with agents of the Marcy Inkster Interpol Intrepid (MI-3) protection racket based at Skinners’ Hall.
#1674: Marine Links MI-3 Paulson Wandering Arsonists to Pearce Force-Placed Insurance Frauds on Pacific Rim
Marine Links Nortel CAI JABS to Doug Pearce Shorts in B.C. Pig-Farm Pension Pla
Co-Authored MindBox Rules – Pension-Plan Investors – Extorted Recovery of Distressed Debt – ‘Piggy’s Palace Good Times Society’ – Matrix 5 – Cutouts
Bank Force Placed Insurance
Impact 5: Tips for dealing with force-placed insurance
9/11 – INSIDE JOB! WTC 7 Pull It [Pearce’s bcIMC procured a MindBox automated debt recovery by triggering force-placed insurance rule sets]
BBC and FOX Reports WTC 7 Collapse Before It Happens.
“[WTC7] The Owners
Larry A. Silverstein was appointed a director of Westfield America in May 1997. Since 1979, Mr. Silverstein has been President of Silverstein Properties, Inc., a Manhattan-based real estate investment and development firm which owns interests in and operates over 10 million square feet of office space. Mr. Silverstein is a member of the New York Bar, and a Governor of the Real Estate Board of New York, having served as its Chairman. He is a trustee of New York University and is the founder and Chairman Emeritus of the New York University Real Estate Institute. He is Chairman of the Realty Foundation, Vice Chairman of the South Street Seaport Museum, and a board member of the Museum of Jewish Heritage.
BLACKSTONE ACQUIRES DEBT ON 7 WORLD TRADE CENTER
New York, NY October 17, 2000: Blackstone Real Estate Advisors [partners with Pearce’s bcIMC in joint use of MindBox for force-place insurance fraud after decision to “pull” building], the global real estate investment and management arm of The Blackstone Group, L.P., announced today that it has purchased, from Teachers Insurance and Annuity Association, the participating mortgage secured by 7 World Trade Center, a commercial office complex controlled by real estate developer Larry Silverstein”
[http://burningbush.netfirms.com/TIAA-CREF.html — link expired] Factsheet on Teachers Insurance and Annuity Associaion (TIAA) (note: Joseph W. Luik is probably the guy who brokered the deal for TIAA)
“But before the building can rise further than the substation, major financing issues have to be resolved by Larry Silverstein, who controls the long-term lease on 7 World Trade Center as well as the World Trade Center complex. The good news for Mr. Silverstein is that the company that insured 7 World Trade, Industrial Risk Insurers, has indicated that it will make a full payment under its $861 million policy. But it’s not clear whether Mr. Silverstein can use those proceeds to start building without first reaching an agreement with the mortgage holder on 7 World Trade Center, Blackstone Real Estate Advisors.”
“Bank of America reportedly holds the loan on 7 World Trade Center.”
“Fitch placed classes of Banc of America LL, Inc. Series 2001-7WTC on Rating Watch Negative due to the increased likelihood that the building will be rebuilt in the near future, using insurance proceeds. The transaction is secured by the beneficial ownership interest in a trust that owns a loan secured by certificates owned by Blackstone Real Estate Partners III LP through related entities representing ownership interest in another trust secured by four mortgages originally totaling approximately $449.4 million on a leasehold interest in 7 World Trade Center. It now appears, due to the urgency to rebuild the ConEd substation, that 7 WTC will be rebuilt in the near future and that, in effect, the bondholders may take on the increased risks of construction lending. It is still possible that bondholders will be repaid prior to construction, because the existing mortgages have a relatively high interest rate and less expensive financing alternatives may be available. Due to political forces surrounding the continued viability of lower Manhattan, Fitch believes that the city will use its best efforts to aid Silverstein in attracting high quality tenants to the building. However, Fitch believes that the cash flow that existed prior to the destruction of 7 WTC will not be replicated, particularly due to the projected substantial reduction in building size.”
http://www.mortgagedaily.com/RatingsC041002.html [link expired]
“According to BestWire, Employers Reinsurance Corp’s Industrial Risk Insurers has agreed to pay a claim for 7 World Trade Center, but a final price has yet to be settled. Some of the insurance proceeds will be used to pay off bondholders who bought part of the building’s US$383 million mortgage. Larry Silverstein, the building’s developer and leaseholder of the WTC twin towers, has said the claim for 7 World Trade Center will be US$861 million” Aon Risk Bulletin, July 2002”
“Bank of America [MindBox user and Master Servicer of phony pass -through certificates on WTC#7] Sued Over Force-Placed Insurance Costs
By David Beasley – Jun 26, 2012 1:50 PM PT
Bank of America Corp. was sued in a Florida federal court by homeowners who allege the company overcharged them for so-called force-placed insurance.
Force-placed insurance, which mortgage companies can purchase for homeowners when their policies lapse, is a “financial windfall” for Bank of America, according to a complaint filed yesterday in West Palm Beach.
“A substantial portion of the premiums are refunded to Bank of America or its affiliates and subsidiaries through various kickbacks, reinsurance and/or unwarranted commissions,” according to the homeowners, who seek to proceed on behalf of a U.S. borrowers who were charged for the insurance by Bank of America or an affiliate.
In April, New York’s Department of Financial Services, saying it was seeking a basis for “consistently high profits” at the expense of homeowners and investors, said it was investigating whether force-placed insurance rates are excessive. It said that it was requiring information from insurers including Balboa Insurance Co., which is also a defendant in the Florida case.
The New York regulator said there are “serious concerns” that premiums for the insurance have been “artificially inflated.” The inquiry was also looking into relationships among the insurers, banks, mortgage servicers and insurance agents and brokers.
Joseph Gallagher, one of the Florida plaintiffs, was charged $4,491 annually for his force-placed policy even though he already had insurance, according to the complaint. The force- placed policy, which only covered wind and hail damage, was twice as expensive as Gallagher’s regular, comprehensive insurance policy, according to the complaint.
The premium payments for the force-placed policy were added to Gallagher’s monthly mortgage payment, which contributed to his home going into foreclosure, according to the suit.”
“Is BCIMC Broke? Are Civi Service Pensions At Risk? The Secret Desperation Behind The Gangsterism That Benefited BCIMC http://cuabcimc.blogspot.ca/ Desperate times + desperate crimes = Doug Pearce + BCIMC.
Many financial crimes are motivated by financial desperation.
There is now reason to believe that British Columbia Investment Management Corporation (BCIMC) engineered the criminal conspiracy to loot the lands of the Pacific Rim Resort property because Doug Pearce, the long standing CEO, knows the desperate financial position of BCIMC and he also knows that British Columbia civil service and political pensions are in serious financial trouble.
This would also explain why Doug Pearce announced that he would be retiring shortly after this blog published the mechanics of the next steps in the swindle of taxpayers money that the Editors believe was being planned by BCIMCas the criminal conspiracy against the Pacific Rim Resort property moves into the phase two.
If our Editors are correct, Pearce and other insiders now realize that Ottawa’s Departments of Finance and Aboriginal Affairs are unlikely to provide BCIMC with a huge cash infusion as part of a Native Land Claim settlement with the Tla-o-qui-aht First Nations.
The Tla-o-qui-aht First Nations now realize that they have been drawn into a criminal conspiracy and that any land claim settlement that included the Pacific Rim Resortproperty could be set aside in a future court action by Jack English, his children or even his grandchildren.
Title to property acquired by fraud is not clear title and the Tla-o-qui-aht First Nations would be incredibly stupid to accept property that they would surely lose in a later court battle.
In the Editors opinion Doug Pearce is on the run. This blog was set up six weeks ago to expose BCIMC corruption and, last week, after over 25 years as the man in charge, he announced he would be resigning.
But Pearce is not the only issue with BCIMC. KPMG, the long time auditor of BCIMC,is well known for carrying out massive financial frauds and recently paid a fine of $450 million so 17 senior executives could avoid going to jail for a very long time.
Click her for more on KPMG corruption.
For years, BCIMC, with the assistance of KPMG, has been publishing unaudited financial statements of its investment inventory.
Click here to visit 2012 “unaudited” statement of pension inventories published byBCIMC.
This means that the investment inventory has not been audited by an independent, third party, credible agency so there is no guarantee the investments are there to back up the pensions they are supposed to support.
Civil servants and the politicians who hope to rely on the pensions plans invested and managed by BCIMC are basically relying on the word and credibility of Doug Pearce and his senior management team who have now been linked to a massive criminal conspiracy.
Simply put, the published financial statements of BCIMC and the security of public service pensions plans are at risk.
Although annual financial statements (which do not include the inventories) are supposedly audited KPMG is the auditor and KPMG admits it heavily relies on BCIMCmanagement team in the preparation of the those reports.
Could the published financial statements of BCIMC be one massive fraud? …..YES.
Has the Government of British Columbia ever lied before? ……YES.
Has BCIMC been involved in a criminal conspiracy against Pacific Rim Resort? ……YES.
Have KPMG executives ever been indicted? YES, 17 of them in 2007
Did Doug Pearce suddenly announced he was jumping ship (resigning) when these crimes at Pacific Rim Resort were exposed? …… YES.
So, if the Editors of this blog are right,as they have been ever since this blog was first published, the Victoria City Police and the other police forces in this province (BC),who regularly visit this blog, are in for a BIG SHOCK when they wake up, look around, and find that their pension plans not as rich as they hoped they would be while Doug Pearce and his management team have quietly left town, left the province and left Canada.
Posted by Joe Adam at 7:22 AM No comments:”
More to follow.