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UPDATE to the UPDATE!!! More Mobs Implicated in Archegos Fronted Crime Spree

UPDATE April 8. BULLETIN! The latest development in the sensational Archegos Scam! We now know that 6 of Wall Street’s 19 Primary Dealer Crime Syndicates backed the scam. Two of the New York mob crime families are known to be involved.

We now know that the Wells Fargo Crime Syndicate based in San Francisco was also taking a cut.

Outside the US, the Swiss mob was reputedly behind the lion’s share of the scam. Many of these crimes are run out of Geneva, where omerta rules codified in Swiss law promote these crimes, with the Swiss government cop on the beat takes a cut.

Competing criminal gangs in Japan were also in on the action. We knew that the leading financial crime syndicate out of Tokyo was involved, and have now been told by unnamed sources that another Tokyo gang was also taking a cut.

The FBI and Interpol are investigating. Lead investigator Elliott Ness is scheduled to testify to the Pecora Committee in Congress.

 

 

UPDATE MARCH 30)Gotta add another arrow to the table. Word is that Wells Fargo Crime Syndicate was also in on the slosh.

As far as has been reported so far, only CS and Nomura are in knee deep. GS and MS are only reported to have brokered margin call trades.

Considering that these monsters of the Wall Street mafia run the system, and are buried in long Treasury positions, I would worry.

Check that, I am worried.

Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also publish LiquidityTrader.com, and was lead analyst for Sure Money Investor, of blessed memory. I developed David Stockman's Contra Corner for Mr. Stockman. I’ve had a wide variety of finance related jobs since 1972, including a stint on Wall Street in both sales, analytical, and trading capacities. Prior to starting the Wall Street Examiner I was a commercial real estate appraiser in Florida for 15 years. I was considered an expert in the analysis of failed properties that ended up in the hands of bank REO divisions, the FDIC, and the RTC. Remember those guys? I also worked in the residential mortgage and real estate businesses in parts of the 1970s and 80s. I have been charting stocks and markets and doing analytical work since I was a teenager. I'm not some Ivory Tower academic, Wall Street guy. My perspective comes from having my boots on the ground and in the trenches, as a real estate broker, mortgage broker, trader, account rep, and analyst. I've watched most of the games these Wall Street wiseguys play from right up close. I know the drill from my 55 years of paying attention. And I'm happy to share that experience with you, right here.