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Fraud*
According to the Collins English Dictionary 10th Edition fraud can be defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage".[1] In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain
*As defined in Wikipedia

Tuesday, February 28, 2012

Only Goldman Sachs Could Devise a "Captive Strategic Investment Fund"

Goldman Sachs is not afraid to go where no one else has gone before (in order to make a buck). From sources that include WikiLeaks, we find out that Goldman attempted to set up a fund based on global intelligence gathered by Stratfor.

As Joseph Cannon says on his blog, Cannonfire, "Goldman Sachs: America's worst enemy--far worse than Al Qaeda. A company that must end." Agreed, or at least it should be chopped up into its component parts and regulated to death.

The WikiLeaks GiFiles: Stratfor Plotted with Goldman Sachs to Set Up Investment Fund
By Gianluca Mezzofiore - International Business Times

Stratfor, the intelligence firm at the centre of the latest WikiLeaks/Anonymous tie-up, attempted to set up an investment fund with a Goldman Sachs director to trade on the intelligence collected by Stratfor.

In 2009, the then managing director of the investment bank, Shea Morenz, planned to utilise the intelligence from the insider network "to start up a captive strategic investment fund".

"What StratCap will do is use our Stratfor's intelligence and analysis to trade in a range of geopolitical instruments, particularly government bonds, currencies and the like," reads an email by Stratfor's CEO George Friedman.

The emails show that Morenz in 2011 invested more than $4 million and joined Stratfor's board of directors.

During 2011, a formally independent offshore share structure was built up with the name of StratCap. But Friedman himself told his Stratfor staff that StratCap intelligence fund was secretly integrated to the intelligence firm.

"Do not think of StratCap as an outside organisation. It will be integral," he wrote. "It will be useful to you if, for the sake of convenience, you think of it as another aspect of Stratfor and Shea as another executive in Stratfor... we are already working on mock portfolios and trades"

The emails published by Wikileaks also reveal that Guardian journalist David Leigh allegedly teamed up with Israeli journalist Yossi Melman, dubbed as "an information mule", to move WikiLeaks US diplomatic cables to Israel "in violation of Wikileaks' contract with the Guardian".

Wikileaks started publishing on Monday more than five million emails hacked by Anonymous from the servers of Stratfor, a US intelligence gathering company.

Read the rest of the article here

Read Joseph Cannon's blog here

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