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Thread: Sheldon Silver hit with new charges over investments tied to alleged kickback schemes

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    Tony Fracasso - Admin
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    Sheldon Silver hit with new charges over investments tied to alleged kickback schemes

    Sheldon Silver hit with new charges over investments tied to alleged kickback schemes

    Federal prosecutors brought new charges Thursday against disgraced former state Assembly Speaker Sheldon Silver that detailed the lengths the pol allegedly used to yield big returns on his $4 million in corrupt cash.

    The dirty money Silver earned through his twin kickback schemes was parked in a “private, high-yield” low-risk investment vehicle not available to the general public, the new indictment charged.
    http://www.nydailynews.com/news/crim...icle-1.2196876


    So there are investment accounts available only to goverment workers?

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    Tony Fracasso - Admin
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    Silver began investing the money — along with legally earned cash — in the vehicle, papers charged. By January, he had transferred $642,000 into the investment vehicle, which had grown to a value of $1.4 million.
    What an excellent return on investment.

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    Quote Originally Posted by WNYresident View Post
    What an excellent return on investment.
    I'm not sure how you can tell from the article what the return on the investment was. It doesn't identify when the deposits were made so I don't know how you make a determination on the rate of return. Nor does the article contain even the slightest suggestion that this investment vehicle was limited to government employees. Wall Street is rife with hedge funds and other such things where the ability to invest is limited to those can invest certain amounts. If a fund requires a million $ investment to participate my guess is it's foreclosed to the vast majority of investors, no matter how they're employed. Finally, the article says some of his investment was legitimate without identifying whether that legitimate amount was 95% or 5%. People really ought to start devoting as much scrutiny to the allegations brought by Preety as they do to those he attacks. His Wall Street convictions are being overturned right and left because he routinely twists and misapplies law. In fact, had Pretty's pretrial statements basically declaring Silver guilty been made about some mid level gangsta the guy would be back on the street. My guess is the judge lacked the political courage to dismiss the charges because it was Silver.

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    Member BorderBob's Avatar
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    Quote Originally Posted by WNYresident View Post
    Sheldon Silver hit with new charges over investments tied to alleged kickback schemes



    http://www.nydailynews.com/news/crim...icle-1.2196876


    So there are investment accounts available only to goverment workers?
    I'm guessing this is an account available to the corporate overlords, in this case just st offered to corrupt government officials. Nice try though trying to link this to government workers generally though.



    b.b.

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    Member nogods's Avatar
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    Quote Originally Posted by WNYresident View Post
    Sheldon Silver hit with new charges over investments tied to alleged kickback schemes



    http://www.nydailynews.com/news/crim...icle-1.2196876


    So there are investment accounts available only to goverment workers?

    A"private" investment club is not a government investment club...it is a club run by small business owners /non-government non-union employees - it is operated by someone who would ask Silver "In return, Silver “took certain official actions as requested by the investor” who was not paid for his services, the indictment charged, i.e., just another small business man /non-government non-union employee trying to get ahead in the world...

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    Quote Originally Posted by BorderBob View Post
    L

    I'm guessing this is an account available to the corporate overlords, in this case just st offered to corrupt government officials. Nice try though trying to link this to government workers generally though.



    b.b.
    He doesn't need any money he has a ridiculous NYS pension.

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    Tony Fracasso - Admin
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    Quote Originally Posted by grump View Post
    I'm not sure how you can tell from the article what the return on the investment was. It doesn't identify when the deposits were made so I don't know how you make a determination on the rate of return. Nor does the article contain even the slightest suggestion that this investment vehicle was limited to government employees. Wall Street is rife with hedge funds and other such things where the ability to invest is limited to those can invest certain amounts. If a fund requires a million $ investment to participate my guess is it's foreclosed to the vast majority of investors, no matter how they're employed. Finally, the article says some of his investment was legitimate without identifying whether that legitimate amount was 95% or 5%. People really ought to start devoting as much scrutiny to the allegations brought by Preety as they do to those he attacks. His Wall Street convictions are being overturned right and left because he routinely twists and misapplies law. In fact, had Pretty's pretrial statements basically declaring Silver guilty been made about some mid level gangsta the guy would be back on the street. My guess is the judge lacked the political courage to dismiss the charges because it was Silver.
    From the article

    The dirty money Silver earned through his twin kickback schemes was parked in a “private, high-yield” low-risk investment vehicle not available to the general public, the new indictment charged.
    Well from the article we know that the "general public" didn't' have access to the "investment vehicle" so I assumed.

    Silver began investing the money — along with legally earned cash — in the vehicle, papers charged. By January, he had transferred $642,000 into the investment vehicle, which had grown to a value of $1.4 million.
    More than doubled his money. Better investment than losing your money

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    Member nogods's Avatar
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    Quote Originally Posted by WNYresident View Post
    From the article



    Well from the article we know that the "general public" didn't' have access to the "investment vehicle" so I assumed.



    More than doubled his money. Better investment than losing your money

    Most of the funds Mitt Romney and his financial groups manage are not "available to the general public." - They are "private" not "public", and private investment arrangements do not have to be offered to the general public. In fact, lots of private investment have minimum net worth requirements that only the one-percenters can meet. they ae not government run or owned investments - they are owned and run by places with names like "Bain Capital"

    TIGER 21 THE SOCIAL NETWORK AND SUPPORT GROUP FOR THE WEALTHY, MEMBERS MUST HAVE A NET WORTH OF $10 MILLION

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    Quote Originally Posted by nogods View Post
    Most of the funds Mitt Romney and his financial groups manage are not "available to the general public." - They are "private" not "public", and private investment arrangements do not have to be offered to the general public. In fact, lots of private investment have minimum net worth requirements that only the one-percenters can meet. they ae not government run or owned investments - they are owned and run by places with names like "Bain Capital"

    TIGER 21 THE SOCIAL NETWORK AND SUPPORT GROUP FOR THE WEALTHY, MEMBERS MUST HAVE A NET WORTH OF $10 MILLION
    nogods, I think Shelly's local investments were in an outfit that funds lawsuits for plaintiffs' lawyers and gets paid back out of the proceeds of any recovery. Is that true?

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