We are finding that through Deutsche Bank, Goldman Sachs, Wells Fargo, Bank of America, and others that money laundering and tax evasion are happening at the highest levels.
Here is a snippet from their website on the “About Us” page:
“TransCentra helps you transform your critical treasury operations through innovation, automation, a deep understanding of financial processes, and a single-minded commitment to delivering improved outcomes. We achieve treasury impact by intelligently applying software and services that improve visibility into your corporate cash cycle, increase the efficiency of your billing and payment processes, and reduce the costs of your treasury activities.”
Here is an inside view of how a scheme might go:
A large financial organization registers a CDO. Basically, a CDO is simply a shell company located somewhere like the Cayman Islands. The company is funded with money from investors who transfer funds into the CDO through companies like TransCentra. Most of the time these funds come from unidentified investors for anonymity and tax evasion assistance.
TransCentra offers payment processing services for financial institutions. They also offer remote deposit and mobile deposit technologies. Another means of creating one more smoke and mirror to this process is Private Label Processing Solutions. This helps their client achieve their goals and objectives through the largest outsourced payment processing network in the United States, called Transaction Management System (TMS).
Using these technology firms such as BlackRock, Lone Stary,
These subsidiaries – Caliber, PennyMac, Bayview, then pass it on in the form of
When borrowers start to make payments, “Servicers” who are rotated through data management companies like Black Knight(aka LPS-DocX) who’s position is to collect checks and deposit it into TransCentra accounts for a benefit of a “within payee” and without prejudice. This simply means that TransCentra should not be held liable for banks fraud if the borrower discovers this scheme.
At the same time, banks need to accelerate borrower’s actual default. They use various methods which, in my case, it was the filing of fraudulent documents in a non-judicial foreclosure procedure in order to bypass the timelines of the foreclosure process and to quickly and fraudulently foreclose on me. It is done to hundreds of families every day. Other situations might include lost payments; added late fees for no reason, manipulations with escrow accounts; junk insurances; short payment deadlines; Flood insurance, to name a few.
So, mortgage payments are collected by a payee whom borrowers
These funds can be safely transferred through TransCentra back to the Cayman Islands and distributed to anonymous (offshore shell companies – corrupt politicians) investors. These inverstors do not want wait 30 years while American borrowers pay their loans. they need money laundered faster, preferably in 3-5 years.
These kinds of transactions continue to date and were a direct link to the 2008 “crisis”. The signals are showing once again that we are
(*) FROM Wikipedia:
*A DISC is a U.S. corporation which has elected DISC status and meets certain other largely symbolic requirements. A corporation so electing is not subject to U.S. Federal income tax. Properly structured, a DISC has no activities other than on paper and no activities not related to the export of qualifying goods.
The pricing rules in the law and regulation are independent of the transfer pricing rules normally applicable to transactions between related parties. Thus, DISC profits are not dependent on the economic contribution of the DISC, and a DISC need have no substance.
Since a DISC has no substance, implementation and maintenance
Additional substantial rules apply.
DISCs were challenged by the European Community under the GATT. The United States then counterclaimed that European tax regulations concerning extraterritorial income were also GATT-incompatible. In 1976, a GATT panel found that both DISCs and the European tax regulations were GATT-incompatible. However, these cases were settled by the Tokyo Round Code on Subsidies and Countervailing Duties (predecessor to today’s SCM), and the GATT Council decided in 1981 to adopt the panel reports subject to the understanding that the terms of the settlement would apply. However, the WTO Panel in the 1999 case would later rule that the 1981 decision did not constitute a legal instrument within the meaning of GATT-1994, and hence was not binding on the panel. The Foreign Sales Corporation (FSC) was created in 1984 as an alternative to the DISC. In 1984, partially in response to international pressure, also amended the rules applicable to DISCs to provide that a DISC and its shareholders could continue to defer tax on the DISC’s income, but only if the DISC shareholders paid interest on the deferred tax.
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