In this case, it was an elaborately orchestrated grand larceny theft of a specialty retail mall conveniently located at the intersection of NC Highways 54 and 55, a quarter mile south of I-40 and just outside the Research Triangle Park in Durham, North Carolina, which eventually became the "crime scene" to an audacious bank foreclosure fraud carried out as part of an elaborate cover-up (Click here to access pictures). It was surreptitiously sponsored by Morgan Stanley, and executed in a coordinated manner by Wachovia and Paragon Commercial Bank, financial institutions which have long had close ties, particularly at the senior executive level. In fact, at the time, the respective CEOs were local born, raised and educated North Carolinians.
This triad of wayward bank CEOs are also part of a secretive amorphous group of tyrannical bankers, whom some refer to (with part-reverence and part-trepidation) as "the Mack Mafia". Their names are John Mack, Bob Steel and Bob Hatley. (click here for more, and read the section titled "Morgan Stanley"). Now it should be pointed out that relative to the polished, shrewd and savvy Messrs. Mack and Steel, Mr. Hatley is especially unimpressive and reminiscent of the dumb kid on the block who can be talked into doing just about anything, and as a result, he will likely be the "fall guy" who ends up in prison. Collectively though, these three men represent the essence of private sector kakistocracy.
This particular transgression is one in a five-part sequence of bank foreclosure frauds directed at a individual (Spencer C. Young), on relatively under-leveraged properties with an aggregate post-redevelopment value of $22 million, and mortgages aggregating $9 million, which until this fraud, were NEVER late, NEVER in default, and in the case of a residential condominium, PAID-IN-FULL! Moreover, prior thereto, Mr. Young's FICO score was consistently above 800.
Implicated in what are a dizzying array of misdeeds are MANY senior bankers, prominent attorneys and government officials, which were prefaced and made possible by an overwhelming smear campaign entailing over 60 patently false and disparaging articles which appeared over a 15 month period in four local newspapers. (Click here to access a cogent analysis of these profoundly obvious prevarications, which now lay bare the potentially massive libel claims against the respective newspapers and staff reporters who mocked the notion of journalistic integrity.) When the multi-faceted bank foreclosure fraud was directed at this property, it was so brazenly unlawful that NOT a single article was written about it . . . for fear public attention would expose it. (Click here for the details on the 20 separate elements of fraud employed by Paragon Commercial Bank).
The criminal investigation Mr. Young is calling for will explicitly reveal how this particular foreclosure fraud is DIRECTLY linked to the stifling greed and overwhelming corruption that has long oppressed "the 99 Percent" represented by the nascent, but already powerful Occupy Wall Street movement. Moreover, this fraud represents just one of the MANY weak links in "The Long Chain of Fraud & Corruption of MorganStanleyGate".
While such a nightmare is difficult to fathom, this is "only the tip of the iceberg", because bank foreclosure fraud goes on all the time -- however, in this case, the value of the assets is relatively large, and target of this wrath is a former Wall Street insider and long-time banking executive at Citicorp, JPMorgan and Morgan Stanley, who can recite chapter and verse on how the banks have gotten away with this for so long. Importantly, once the publicly transparent investigations begin, it is predicted the associated corrupt banking house of cards will come tumbling down, and countless others will thus benefit.
The corroborating evidence of fraud and corruption is significant, damning and irrefutable, and access to the tens of thousands of pages of documents (many of which were produced by Morgan Stanley, Wachovia and Paragon) is readily available and posted on-line at over a dozen of Mr. Young's web sites -- click here for a listing of just SOME of those websites.
NOTICE OF INTENT
November 23, 2011
Adirondack Gardens Apartments
13 Crimson Circle
Troy, NY 12180
Attn: William A. Chase
Re: Real Estate Parcel #: 154 184 a/k/a “The Pit Stop of Durham” or “Triangle Village Auto Mall” (hereinafter referred to as the “Property”)
As you know, the Occupy Wall Street (“Occupy”, or “OWS”) movement is a clarion call against unbridled greed and rampant corruption, which manifested an illegitimate chasm between the “haves” and “have-nots”, as well. It is also a reclamation of rights, as our forefathers intended. OWS is destined to become the most seminal global social movement in the history of mankind. Do the math: What’s 99% of seven billion?
I preface in this manner because the circumstances surrounding the above referenced Property is representative of what instigated this powerful grassroots movement. However, to understand how this is the case, I must indulge you with a précis of my background, two empirically valid premises, and a logically deduced conclusion.
For reasons outlined herein, this shall serve as my NON-ADVERSARIAL notice of intent to exercise rights to reclaim possession of this Property on behalf of its rightful owner. Notwithstanding, I will be assiduous in my pursuit to correct this and all related wrongdoings that evidenced a malicious assault on inalienable, civil and constitutional rights, the U.S. judicial system and established American values. Importantly, the OWS movement is all about confronting and correcting a woefully oppressive status quo.
At Morgan Stanley, I built its commercial mortgage-backed securities (“CMBS”) conduit business (entailing lending and securitization) into a market leader and created the highly successful IQ® (“Institutional Quality”) franchise. Prior thereto, I founded the CMBS business at JPMorgan, serving as Chief Operating Officer for its commercial mortgage finance and securitization business. The intrinsic shareholder value thus created by these franchises at each of these “Houses of Morgan” exceeded $1 billion. Over my career, I was directly involved in, or otherwise responsible for over $30 billion in transactions, while more on my background can be accessed at SCYInv.com.
Now for the particulars – and recognize that these premises are what I know to be absolutely true, based extensive first –hand knowledge as a former Wall St. insider / investment banker, as well as the ensuing target of unrelenting avarice-driven wrath.
Premise # 1: “MorganStanleyGate” Is Linked With the Occupy Movement
What began as a relatively pedestrian employment fraud by colleagues at Morgan Stanley eventually transmogrified into a scandal of now epic proportion, and due to its parallels with that of the Watergate scandal, it has been aptly coined MorganStanleyGate (TWSYF.com provides a cogent overview).
But how can a seemingly parochial matter be linked with this massive, evolving and continually growing Occupy movement? Answer: Those who instigated MorganStanleyGate (its beginnings are explained at MEVEP.com) were ALSO responsible for Morgan Stanley’s entrance into the toxic sub-prime residential mortgage business. Their names are Tony Tufariello, John Westerfield and Warren Friend – each has since been fired. And how is this relevant?
To use now popular OWS vernacular, this nefarious trio of reckless “One-Percenters” were driven by unbridled greed to take on risks they hardly understood, eventually leading to ASTRONOMICAL losses that brought Morgan Stanley to its knees, ended its days as an investment bank, and necessitated a $10 BILLION Congressional bail out with taxpayer money (and countless other billions of “printed money” from the Fed) to stave off Morgan Stanley’s otherwise certain demise. Ergo, those who instigated the MorganStanleyGate scandal also played instrumental roles in wrecking OUR economy, and in oppressing the “99-Percenters” who comprise the OWS movement – hence proving the veracity of this first premise.
Premise # 2: MorganStanleyGate Is Linked With The Pit Stop of Durham
And how is MorganStanleyGate germane to this Property? This Property was stolen through elaborate and unlawful orchestration in North Carolina, and ALL surreptitiously sponsored by Morgan Stanley. These misdeeds were principally carried out by Wachovia Bank (“Wachovia”) in collaboration with Paragon Commercial Bank (“Paragon”). To understand how these banks are linked, click here and read the “Morgan Stanley” section of this blog entry.
The unimaginable transgressions directed against me (and my loved ones) have spanned NINE YEARS and were acts of retaliation intended to stop me from pursuing justice and deprive me of resources to collect on these mounting civil claims. And by publicly assassinating my personal character and professional reputation with a combination of malicious sabotage and bold-faced lies (by mouth and in print), the underlying civil and criminal wrongdoings of MorganStanleyGate would in “Churchillese”, forever remain a secret wrapped in an enigma, shrouded by mystery.
Notwithstanding, I will NOT allow this entirely fraud-induced indignation to persist, which for a variety of reasons is also the overwhelming sentiment felt by those who support the Occupy movement – simply put, the status quo of corruption-based oppression is UNACCEPTABLE. Conclusion: Deductive reasoning leads to concluding The Pit Stop of Durham is very much linked to The Occupy Movement.
Fraudulent Conveyance & Notice Of Intent To Reclaim
The subject Property was fraudulently conveyed to you – in being procured by fraud, Paragon Commercial Bank (nor any subsidiary) did not hold legitimate ownership title and therefore could not convey title to you. This means you do NOT own this Property. Accordingly, it is my intent to exercise rights to reclaim possession of this Property on behalf of its rightful owner, which is a closely held corporation.
With this communique, I am presuming you have been an unwitting party in this fraud, and in the spirit of cooperation, please know I intend to pursue this in a reasonable and cooperative manner that will also serve to best mitigate your damages. In other words, if you work with me, I will see to it you are made whole, and I will go out of my way to ensure any associated inconvenience to you is kept to a minimum.
A Matter of Public Interest & Next Steps
As this relates to a criminal matter of national significance, this transmittal must also be widely disseminated. For example, it is being concurrently shared with approximately 1,800 news media organizations, as well as relevant government and regulatory officials, numerous activist groups – even President Obama and related staff. You can also monitor activities at my various websites -- in fact, THIS letter can be accessed at MorganStanleyGate.com by clicking on “William Chase” on the side bar.
In closing, please know that the purpose of this letter is to advise you of this fraud and to put you on notice about my good faith intentions to reclaim this Property in a manner intended to also mitigate YOUR damages.
Spencer C. Young
Spencer C. Young, Individually, and as President of Spencer C. Young Investments, Inc.