Letter to CA Rep. Rohrabacher – Evidence Against Big Banks Destroyed by SEC

Sent via http://rohrabacher.house.gov/ 8/20.
Mr Rohrabacher,

I hope this note finds you well. As you well know in the last 5 years we have suffered at the hands of unethical if not illegal treatment from big banks and predatory lending/investing agencies.

Released in the Rolling Stone magazine last Wednesday and now found on marketwatch.com is a story of how the SEC has destroyed critical evidence in a large number of these cases.

I am looking for 2 things:

1. Actions that myself and fellow Americans can take to make sure those responsible for this decision to destroy evidence are brought to justice.

2. How to determine what evidence was lost and try to salvage the now weaker cases against our corporate citizens.

An excerpt from the article found here:
The allegations were made by SEC enforcement attorney, Darcy Flynn, in a letter to Grassley. Flynn is a current employee, and according to the letter, received a bonus for his past year’s work.

Flynn alleges the SEC destroyed files related to matters being examined in important cases such as Bernard Madoff and a $50 billion Ponzi scheme he operated as well as an investigation involving Goldman Sachs Group Inc. GS -1.22% trading in American International Group credit-default swaps in 2009.

Flynn also alleged that the agency destroyed documents and information collected for preliminary investigations at Wells Fargo & Co. WFC -1.52% , Bank of America Corp. BAC -0.57% , Citigroup C -4.32% , Credit Suisse CS -1.80% , Deutsche Bank DB -3.66% Morgan Stanley MS -1.23% and the now-bankrupt Lehman Brothers.

Thank You.

-Daniel Yerelian

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