first_imgThe following statement is being issued today by Vermont Attorney General William H Sorrell and the Mortgage Foreclosure Multistate Group:”It has recently come to light that a number of mortgage loan servicers havesubmitted affidavits or signed other documents in support of either ajudicial or non-judicial foreclosure that appear to have procedural defects.In particular, it appears affidavits and other documents have been signed bypersons who did not have personal knowledge of the facts asserted in thedocuments. In addition, it appears that many affidavits were signed outsideof the presence of a notary public, contrary to state law. This process ofsigning documents without confirming their accuracy has come to beknown as “robo-signing.” We believe such a process may constitute adeceptive act and/or an unfair practice or otherwise violate state laws.In order to handle this issue in the most efficient and consistent mannerpossible, the states have formed a bi-partisan multistate group to addressissues common to a large number of states. The group is comprised of bothstate Attorneys General and the state bank and mortgage regulators.”Currently 49 state Attorneys General have joined this coordinatedmultistate effort. State bank and mortgage regulators are participating bothindividually and through their Multistate Mortgage Committee, whichrepresents mortgage regulators from all 50 states. Through this process, thestates will attempt to speak with one voice to the greatest extent possible.”At the end of this statement is a list of the participating states.Our multistate group has begun inquiring whether or not individualmortgage servicers have improperly submitted affidavits or otherdocuments in support of foreclosures in our states. The facts uncovered inour review will dictate the scope of our inquiry.”The Executive Committeeis comprised of the following Attorneys General Offices: Arizona,California, Colorado, Connecticut, Florida, Illinois, Iowa, New York, NorthCarolina, Ohio, Texas, and Washington; and the following state bankingregulators: Maryland Office of the Commissioner of Financial Regulation,New York State Banking Department, and the Pennsylvania Department ofBanking.”Source: Vermont AG. 10.12.2010.Participating Attorneys GeneralAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareFloridaGeorgiaHawaii Department of the Attorney General / Hawaii Office of Consumer ProtectionIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWest VirginiaWisconsinWyomingParticipating State Bank and Mortgage RegulatorsArizona Department of Financial InstitutionsArkansas Securities DepartmentConnecticut Department of BankingD.C. Department of Insurance Securities and BankingFlorida Office of Financial RegulationIdaho Department of FinanceIllinois Secretary of Financial and Professional RegulationIndiana Department of Financial InstitutionsIowa Division of BankingKentucky Department of Financial InstitutionsLouisiana Office of Financial InstitutionsMaine Bureau of Consumer Credit ProtectionMaine Bureau of Financial InstitutionsMaryland Office of the Commissioner of Financial RegulationDivision of Banks, Commonwealth of MassachusettsMichigan Office of Financial & Insurance RegulationMinnesota Department of CommerceMississippi Department of Banking and Consumer FinanceMontana Division of Banking and Financial InstitutionsNebraska Department of Banking and FinanceNevada Financial Institutions Division and Mortgage Lending DivisionNew Hampshire Banking DepartmentNew Jersey Department of Banking & Insurance – Office of Consumer FinanceNew York State Banking DepartmentNorth Carolina Commissioner of BanksNorth Dakota Department of Financial InstitutionsOhio Division of Financial InstitutionsOregon Department of Consumer and Business Services – Division of Financeand Corporate SecuritiesPennsylvania Department of BankingRhode Island Department of Business Regulation – Division of BankingSouth Carolina Department of Consumer Affairs Tennessee Department ofFinancial Institutions Texas Department of BankingTexas Finance Commission and Consumer Credit Commissioner VermontDepartment of Banking, Insurance, Securities and Health CareAdministrationWashington State Department of Financial InstitutionsWest Virginia Division of Banking WisconsinDepartment of Banking Wyoming Division of Bankinglast_img read more


first_imgSouth Korean shipbuilder Samsung Heavy Industries has agreed to pay a $75 million penalty as part of a settlement agreement reached with the U.S. Justice Department over bribery investigation related to a 2007 drillship construction involving Petrobras and drilling contractor Pride.“[Samsung Heavy Industries] has agreed to pay total penalties of more than $75 million to resolve the government’s investigation into violations of the Foreign Corrupt Practices Act (FCPA) arising out of a scheme to pay millions of dollars in bribes to officials in Brazil,” the DOJ said last Friday.“Samsung Heavy Industries paid millions of dollars to a Brazilian intermediary, knowing that some of that money would be used to bribe high-level executives at Petrobras and obtain a lucrative shipbuilding contract,” said Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division.U.S. Attorney G. Zachary Terwilliger of the Eastern District of Virginia said that Samsung “caused millions of dollars in corrupt bribe payments to be paid to foreign officials to win business, upsetting what should have been a level playing field for other companies that followed the rules.”According to admissions by Samsung Heavy Industries, as shared by DOJ, beginning in 2007 and continuing until 2013, Samsung provided approximately $20 million in commission payments to a Brazilian intermediary, knowing that portions of the money would be paid as bribes to officials at oil company Petrobras.The bribes paid caused Samsung to secure improper business advantages, as Petrobras then entered into a drillship charter contract with Pride (now part of Valaris) to whom  Samsung Heavy Industries then sold the drillship for this contract.“Samsung Heavy Industries took actions in furtherance of the bribery conspiracy from its branch office located in the United States,” the DOJ said.Samsung and the DOJ also reached a three-year Deferred Prosecution Agreement. Upon successful completion, the DOJ will seek to dismiss the deferred charge, which relates to a drillship known as the “DS-5,” Samsung said. The rig in question, delivered in 2011, is now owned by Valaris, and is stacked without a contract in Spain.Commenting on the DOJ settlement Samsung Heavy CEO Joon Ou Nam said: “We deeply regret the company’s involvement in these events, which is contrary to our values and ethical standards,” “Many of the events described in our agreement happened more than a decade ago, and the individuals involved are no longer with the company. Over the past years, we have taken extensive steps, at our own initiative, to strengthen our anti-corruption compliance program to meet the highest standards of compliance and ethics.”last_img read more


first_imgThe Greensburg Pirates traveled to Rushville on Saturday for the “Battle of the Ball” and fell 4-1.The Pirates bounced back from a rough loss to Batesville by coming out aggressive and competitive. A goal in the first half for Rushville set the Pirates back heading into halftime, 1-0, but the Pirates had several scoring chances throughout.Second half started much of the same way, with the Lions scoring in the first 15 minutes. Greensburg didn’t go away, with Collin Springmeyer finding the back of the net off of a deflection from a Nicholas Zapfe shot just moments later to bring the deficit to 2-1. The last 10 minutes saw a collapse of the Greensburg defense, allowing the final 2 goals to push the Lions lead to 4-1.The Pirate offense was lead by Nicholas Zapfe who had 10 shots, 8 of them being on goal. Springmeyer had the goal along with 3 other shots, and Vincent Pavy also had 3 shots, 2 of them being on goal. Goalkeeper, Mason Ponsler had 14 saves on the day.The Pirates fall to 3-8 on the season.Courtesy of Pirates Coach Cody DeVolld.last_img read more