#1676: Marine Links Pearce’s GMAC Twin Towers MindBox Rules to MI-3 Force-Placed Insurance Escrow Fraud
Plum City – (AbelDanger.net). United States Marine Field McConnell has linked CEO Doug Pearce’s development of a phony MindBox rule set for bcIMC investments in the GMAC mortgage on the WTC Twin Towers, to the MI-3 agents who allegedly triggered a force-placed insurance escrow fraud with ‘double-occurrence’ demolitions during the 9/11 Global Guardian war game on 9/11.
McConnell claims MI-3 agents defrauded Lloyd’s of London Names in the Twin Towers attack with the same M.O. as used in the Pearl Harbor attack 60 years earlier; they tricked borrowers and lenders into agreeing on the MindBox mortgage debt-recovery rules and forced the escrow service provider (KPMG) to change the rule set during the game and share in the proceeds of a bogus double-occurrence claim.
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 – William Higgitt – Entrust)
+ 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.
#1675: Marine Links Pearce’s Force-Placed Insurance MindBox Frauds to MI-3 Pacific Rim Arson, WTC#7 Bomb
Connections To Twin Towers GMAC Leveraged Lease and Alleged Frauds on Lloyd’s
#1642: Marine Links Inkster Emerson to Skinners’ 6 and 7 Crime Scenes, Insurers’ Twin Towers Fraud
Bank Force Placed Insurance
New Video Of First Plane Hit 911 9/11 9 11 terrorist attack on Twin Towers Word Trade Center [Pearce’s bcIMC procured a MindBox automated debt recovery by triggering force-placed insurance rule sets]
“GMAC Issues Statement Regarding Exposure in Connection with WTC Properties
September 17, 2001
In response to a substantial number of requests for information regarding GMAC’s exposure to the World Trade Center properties, GMAC expressed its “deepest sorrow and sympathy” and released the following statement.
“On July 24, 2001, GMAC Commercial Mortgage, a subsidiary of GMAC, provided a $563 million first mortgage loan secured by a leasehold interest in four properties in the WTC complex (the Twin Towers and Four and Five World Trade Center). A total of $483 million of the mortgage loan was subsequently sold to a large number of investors.
GMAC Commercial Mortgage retained $80 million of the mortgage loan. “GMAC Commercial Mortgage also committed to provide a $200 million mezzanine loan to provide funds for specified future capital improvements. Given the tragic events at the property, there will be no future improvements at the WTC. As a result, we do not believe the $200 million mezzanine commitment represents an exposure for GMAC.
“The insurance required in connection with GMAC Commercial Mortgage’s financing does not exclude coverage for acts of terrorism (and includes damage caused by aircrafts). The insurance is from a consortium of 22 large and well-rated insurers.
“On September 12, 2001, GMAC Commercial Mortgage, on behalf of the bondholders, gave notice of its status as mortgagee and loss payee under the various insurance policies and requested information on the anticipated date for payment of claims.””
“The bogus escrow scam is a straightforward confidence trick in which a scammer operates a bogus escrow service.
Escrow services are intended to ensure security by acting as a middleman in transactions where the two parties do not trust each other. Rather than sending money or goods directly to the other party (which is insecure, as one or the other party must send its item first, at the risk that the other party may not reciprocate), both parties send their items to the escrow service, which holds them until both items are received, then sends each on to the intended recipient. If either party fails to deliver its part of the deal, the other party’s item will be held at the escrow service and eventually returned.
In the bogus escrow scam, a scammer sets itself up as the recipient of money or goods and then requests the use of an escrow service which is, in fact, self-operated. This bogus escrow service assures the victim that the scammer has sent its item and that the victim should send its item to the escrow service. In fact, this amounts to sending the item to the scammer, who then immediately closes down the escrow service and does not send its item to the victim. The scammer blames the escrow service, claiming that the item was with it at the time it closed down; if the victim did not investigate the escrow service before using it, the ruse may be believed.
The bogus escrow scam is popular on eBay, where escrow services are often used for high-value transactions. The rise of Internet escrow has led to a dramatic increase in bogus internet escrow companies. However, several legitimate and licensed escrow companies do exist.”
“Business Editors/High Tech Writers
GREENBRAE, Calif.–(BUSINESS WIRE)–May 29, 2001
MindBox, the leader in providing intelligent automation of the mortgage lending process, announced today it has reached an agreement with mortgage industry leader GMAC Mortgage Corporation, Horsham, PA, to build the company’s end-to-end automated underwriting system.
The system, called EnGenious(TM) by GMAC Mortgage, will automate underwriting, product qualification and pricing, and exception handling of the company’s products. Services will be accessible through a set of highly customizable and configurable components built with MindBox’s ARTEnterprise(TM).
“We have many products, prices and channels to incorporate into our lending decisions,” says Barry Bier, chief operating officer of GMAC Mortgage. “MindBox’s technology and consulting solutions will enable us to build a system that incorporates this complexity while making the end process to consumers, mortgage and real estate professionals simple, fast and tailored to their specific needs. We believe MindBox’s system will help us to serve our customers better.”
“We are pleased to be working with an industry leader like GMAC Mortgage,” says Richard Barfus, CEO and president of MindBox. “And we are confident that we will deliver a system to GMAC Mortgage that will not only allow them to improve the efficiencies of their current process, but will also allow them to handle larger and more complex deal structures.”
About MindBox, Inc.
Based in Greenbrae, Calif., MindBox, Inc. is a technology company that helps financial services companies gain a competitive edge by intelligently automating their complex business and decision processes. The company develops and markets innovative software and consulting solutions that leverage industry and internal best practices to deliver multi-channel, intelligent solutions designed to optimize client interactions. For more information, please visit MindBox’s Web at www.mindbox.com or call 877/650-MIND (6463).
About GMAC Mortgage
GMAC Mortgage Corporation, one of the nation’s largest mortgage lenders headquartered in Horsham, PA, originates first and second lien residential mortgage loans through a nationwide network of retail offices, direct lending centers, correspondents, brokers, internet sites under the brands gmacmortgage.com and ditech.com, and GM Family First, a custom homeownership services program offered to GM employees, retirees, and dealers.
GMAC Mortgage originated $17.3 billion in residential mortgages, representing more than 195,000 transactions in 2000. The company’s servicing portfolio of more than $173 billion consists of 2 million customers throughout the nation. Information on GMAC Mortgage can be found at gmacmortgage.com.”
“Success Stories MacDonald, Dettwiler and Associates Ltd. [de facto subsidiary of Doug Pearce’s bcIMC and author of the MindBox rule set for the WTC Twin Towers mortgage originator, GMAC, which was able to set up a force-placed insurance fraud to profit from the double-occurrence events of 9/11]
Divestiture of a Non-Core Operation
Public Market Exit
Based in Richmond, British Columbia, MDA is an information company that provides essential land-related information from anywhere in the world to help governments and businesses make decisions. Through its Information Systems group, MDA builds and manages complex systems that capture, package and distribute essential information to help governments and businesses manage their land and mobile assets around the world. Through its Information Products group, MDA develops and manages essential land information databases to enable legal, financial and insurance businesses execute real estate transactions, and also collects and distributes geographical information products to governments and businesses.
CAI’s relationship with MDA dates back to the early 1990’s when, in 1994, CAI and MDA held discussions regarding a potential acquisition of MDA by CAI. However, in 1995, MDA was subsequently sold to US-based Orbital Sciences Corporation. Nevertheless, for years following the sale of MDA to Orbital, CAI continued to explore potential investment opportunities with MDA, both as a potential partner and a prospective shareholder. In late 1999, Orbital began experiencing significant liquidity problems unrelated to MDA and was evaluating strategic alternatives to raise cash, including the sale of certain non-core assets, one of which was MDA. Due to CAI’s existing familiarity with MDA and its business, CAI became management’s preferred and exclusive partner to pursue and negotiate a transaction with Orbital that would satisfy Orbital’s very tight time constraints. Consequently, in December 1999, CAI and one of its limited partners [Doug Pearce’s bcIMC] together acquired a 33.3% equity position in MDA from Orbital.
Because of CAI’s minority position and Orbital’s difficult financial condition, CAI negotiated a shareholders’ agreement with Orbital that gave CAI control over certain key issues that, from CAI’s perspective, were critical to the prudent management of its investment. For example, to protect its exit alternatives, CAI negotiated the ability to force an initial public offering of MDA’s shares and to control the IPO process. The shareholders agreement also restricted Orbital’s ability to sell its shares to third parties without the effective consent of CAI.
In July 2000, at CAI’s direction, MDA completed an initial public offering of its shares at a significant premium to the CAI’s purchase price. As part of the IPO process, CAI also moved to improve corporate governance by strengthening MDA’s board of directors.
In late 2000, faced with continued liquidity constraints, Orbital communicated to CAI its desire to sell its remaining shares in MDA. Shortly thereafter, CAI exercised its rights under the shareholders’ agreement to facilitate the placement of Orbital’s control block with selected like-minded investors of CAI’s choosing [OTPP and Doug Pearce’s bcIMC]. This allowed CAI to offer an attractive co-investment opportunity to its investors (initially) and to third parties (subsequently), while ensuring a high degree of continuity in the financial and strategic stewardship of the business. Altogether, over $230 million of MDA shares were placed by CAI with co-investors at discounts to prevailing market prices in excess of 25%.
Through subsequent public offerings of common shares and open market transactions, CAI sold its entire position in MDA from July 2000 through January 2004 at valuation multiples in excess of its original purchase price multiple. During CAI’s investment period (1999-2003), MDA also prospered, increasing sales from $298 million to $626 million (a 110% increase) EBITDA from $42.3 million to $100.2 million (a 137% increase) through a combination of successful acquisitions and internal growth strategies.
While CAI may not have had a controlling equity interest in MDA, CAI’s active involvement and financial sponsorship enabled MDA to free itself from a cash-constrained foreign parent and pursue a strategy of profitable growth that ultimately generated attractive returns for CAI, management and co-investors.”
“Friday, 07 December 2012 00:00
Pearl Harbor: Hawaii Was Surprised; FDR Was Not
Written by James Perloff.
In the War Department, where the 14-part statement had also been decoded, Colonel Rufus Bratton, head of the Army’s Far Eastern section, discerned the message’s significance. But the chief of intelligence told him nothing could be done until Marshall arrived. Bratton tried reaching Marshall at home, but was repeatedly told the general was out horseback riding. The horseback ride turned out to be a long one. When Bratton finally reached Marshall by phone and told him of the emergency, Marshall said he would come to the War Department. Marshall took 75 minutes to make the 10-minute drive. He didn’t come to his office until 11:25 a.m. — an extremely late hour with the nation on the brink of war. He perused the Japanese message and was shown the delivery time. Every officer in Marshall’s office agreed these indicated an attack in the Pacific at about 1 p.m. EST. The general finally agreed that Hawaii should be alerted, but time was running out.
Marshall had only to pick up his desk phone to reach Pearl Harbor on the transpacific line. Doing so would not have averted the attack, but at least our men would have been at their battle stations. Instead, the general wrote a dispatch. After it was encoded it went to the Washington office of Western Union. From there it was relayed to San Francisco. From San Francisco it was transmitted via RCA commercial radio to Honolulu. General Short received it six hours after the attack. Two hours later it reached Kimmel. One can imagine their exasperation on reading it.
More to follow.