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CRESPOGRAM REPORT

OCTOBER 5, 2012

MULTIPLE OFFENDER
SEC WANTS TO THROW THE BOOK AT THE CITY

In this morning’s Miami Herald there was one of their almost weekly stories about Medicare fraud that had the following sentence.


        “The Miami area, where schemes involving home care,

        mental health and physical therapy fraud have flourished

        for years, has stood out as the nation’s epicenter of

        Medicare corruption.”


Imagine that!?!


There’s another honor that is now being debated behind closed doors that could add to the many other criminal honors that this city has earned by making make the City of Miami the epicenter of securities fraud hanky panky.


This debate is centered on how the SEC will deal with the discovery that the City, for the second time, engaged in “securities fraud in connection with transactions that complied with generally accepted accounting principles...”


You see, from what I’ve been told it turns out that no other city or municipality has ever been tagged twice for engaging in this same kind of securities fraud, and if twice wasn’t enough of an embarrassment, the City could go down as a three time offender if they get tagged with any violations for the Marlin’s stadium boondoggle currently under SEC investigation.


Imagine that, times two!


It seems that the local SEC office has already made up their mind that the City deserves to have the book thrown at them.  This is evident by the letter below that was submitted in August by the City’s outside counsel in this case - which has cost the taxpayers of Miami around $4 million or so so far - as well as with conversations that I’ve had with individuals with knowledge of the case.

But, in cases like this, local offices don’t have the final say.  That is left to the political appointees in Washington, and that is where I’ve been told His Ignorance, the weasels involved in this mess, and the ones now responsible for dealing with it’s aftermath have been focusing their attention.


Cases like this require political intervention, and Miami has always depended on going to folks like Congressman David Rivera when they needed an intervention.

Since Rivera currently has his own criminal problems to deal with - a nice touch of it’s own in the saga of Miami being the center of a massive criminal enterprise - I’ve been told that the effort to save Miami from the punishment that it deserves has focused on getting River’a best pal, Senator Marco Rubio to intercede.


I haven’t been able to independently confirm that, but it does make sense.


The odds though, given that this has become a political football is that there will be no decision until after the November election - unless it’s a really nasty piece of whitewash - and then the decision would be released on a Friday afternoon around 4:59 PM.


In any event, with all of the other worst attributes that the City has managed to earn over the last few years, the fact that the City of Miami is on the verge of becoming a two-time securities fraud offender somehow seems to validate the claims that when it comes to screwing the US government, no body does it better, or more often that the folks in Miami.


It’s Miami, Bitches!

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