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Ralph Hutchinson April 24, 2014 at 09:36 PM
You realize banks are not like any other American corporation. Directors can be held financiallyRead Moreres ponsible for negligence in reimbursing the Government (FDIC) particularly when they were present ant voted on originations renewals and extensions? Prohibition Orders and the FDIC case for $12 million already declared SV Bank directors negligent and present-voted on all Madjlessi's loans. Don't you realize deep pockets are now at risk? Which directors had deep pockets?
Ralph Hutchinson April 24, 2014 at 09:38 PM
Vineyards, Grocery Stores, Hotels, Agricultural empires, professional practices, personal assets?
howiewine April 24, 2014 at 10:24 PM
After receiving certain info from sources it appears that, at least initially, Directors are onRead Morereco rd that Cutting and Melland lied to them about straws. But that only makes the issue of just how Madjlessi was brought into the bank to begin with even more relevant. Mel Switzer clearly gave every impression the borrowers were well known and "not sub-prime... ." He certainly wasn't talking about JH, who was a new and unknown relationship. So while these accounts were being prepped for activation to buy Majlessi's Park Lane Villas which he defaulted on to the tune of a $30 Million IndyMac loan, what credit information did the Board Loan Committee require to approve this loan. After all, the Board had already been adding to loan loss reserve but just nothing even remotely near what was required by regulations. So now we hear a former Director is now claiming that a disgruntled former insider is behind all this? How about this. Ed Haury a bank customer who bought the Nicholas turkey bldg. on Riverside and placed it into a real estate investment trust also maintained an office there contemporaneous to Robert Nicholas, SVB BOARD CHAIRMAN. Haury's former partner's firm Primecore had past legal entanglements with Madjlessi before burying the hatchet and buying high priced Tiburon residences from him. This means Haury knew of and/or did business with Nicholas and Madjlessi. Later Haury got behind on his real estate SVB had loans against @ 136 W Napa (bank of Marin) which Darius Anderson coyly waited in the wings to snap up at foreclosure in 2011 from SVB RECEIVER WESTAMERICA bank. In a strange and inexplicable twist Anderson acquired the postage stamp parking lot behind 136 w napa 3 years earlier directly from Ed Haury. In another strange twist, it turns out Patch commenter from last year's SDC discussions and Anderson's desire to develop the historic site, Haury's alter-ego JAN MICHAEL was hammering anyone who spoke against Anderson to include threats of legal action such as it was from a guys web handle. RECENTLY jan Michael is all over the Patch saying how great Haury Company or Foundation is. Nuts. In any event, Madjlessi may have been told to walk in without Cutting being the wiser but it is certainly possible that one or more Directors knew of him and approved the so-called Character (no real due diligence) loans.
howiewine April 22, 2014 at 03:18 PM
Unless there is a swiss bank account with Sean's name on it he is a dumb, sacrificial lamb for aRead Moresch eme to recklessly expand the bank's loan portfolio. Whether they did this to boost the bank's value to sell it is an open question.
Ralph Hutchinson April 22, 2014 at 04:02 PM
Well its not much of a question because insiders have told us that Gary Findley well knownRead Moreconsultan t came to strategic retreats and counseled the Board on incentive programs and growth strategies to increase shareholder wealth in an effort to pump up the bank in preparation to sell. This strategy launched out of area lending, lending to concentrations like Madjlessi, swinging for the fence making larger dollar loans and the like. It's not likely Findley told them to do all that it rather that execution plan was created by the board. Findley likely provided a framework and strategy. This is again why the Directors bear significant responsibility and Cutting and Melland in no way are Patsy's acting alone.
Ralph Hutchinson April 22, 2014 at 04:06 PM
Insiders also said that directors like Sangiacomo said he knew Mel Switzer was wrong and he wasRead Moreconc erned about the direction but he just couldn't bring himself to vote NO or raise question because he was a long time friend. As a former Federal Regulator I'm appalled at that stance as an outside director is supposed to do just that...question insiders. Cronyism again at play.
Anna Gomez April 21, 2014 at 09:54 PM
"Lipstick on a pig"
howiewine April 22, 2014 at 03:20 PM
Now Hear This-Anderson's newspaper emphasizes he and his wife are "Philanthropists?!?"Read MoreYou just know something is brewing. And when given yet another chance to say that Montague is their prime real estate (Feed Store Owner) neighbor next to their future hotel>>>CRICKETS, NADA, NOTHING. And why should we care about the Anderson's resume's? Sarah worked at Kidder in the stone age? BIG DEAL. What a load of self serving tripe. BUT, something is coming...Feed Store deal? SDC? Something that requires burying the pay-to-play, casino image?------------------------------------------------------------http://www.sonomanews.com/andersons-donate-bikes-bg-club-kids/#.U1Zrqq421Rc
Ralph Hutchinson April 23, 2014 at 01:28 PM
The image of NY Corruption Settlements, Cows Not Casinos, French Hotel, Living WageRead Moremisrepresentatio ns, New Mexico, Pay to Play, Cuba none of that can be erased. And whoever if hired to spin this recent PR machine is Bush League.
howiewine April 21, 2014 at 07:13 PM
Well, I don't care who he is because I can tell where he's coming from and that 's good enough. HeRead Morec ould be DARIUS Bolling lynch chris scott jan michael mildred or the pipe pirate. It doesn't matter because the storms will blow no matter what they say. So batten down the hatches.
It's Not Difficult April 21, 2014 at 07:44 PM
You figured it out! I'm the pipe pirate!
howiewine April 22, 2014 at 10:49 AM
Nice article trumpeting the "philanthropy" of the Andersons...In the newspaper ownedRead Moreby... the Andersons. Still no mention of Montague as the owner of the Feed Store Building next door to their new hotel project. He's still just a semi-retired bike store owner. Feed Store/Hotel deal coming in ...3...2...1...
It's Not Difficult April 21, 2014 at 12:57 PM
Ralph why did you delete your other comment, in which you just now wrote, "We have the CADRead Moredraw ings goof"? Was it because you stupidly popped off by writing something and hitting post without even catching up on the conversation? Or was it because your childish insult was "mean" and therefore further proof of your constant hypocrisy?
It's Not Difficult April 21, 2014 at 12:59 PM
As for your lame question, I know logic isn't your thing, so here is a lesson in it: to continually Read Moreand near-exclusively question the motives of the critic, rather than address the actual criticism, is a logical fallacy. Not your only one, god knows, but one of your favorites.
It's Not Difficult April 21, 2014 at 01:26 PM
But if you insist on an answer (and I'm sure you do, see above re: your capacity with logic), it'sRead Moret his: The only payment I receive in typing these things is the pleasure of watching you squirm like a bug. Every time you write "Mr. It's Not Difficult," I know I've got your dander up. And you deserve it.
howiewine April 01, 2014 at 07:55 PM
Read Morehttp://www.dailynews.com/government-and-politics/20140221/sen-ron-calderon-brother-tom-indicted-in-p ay-to-play-scandal-over-bribes-fraud-money-laundering
Anna Gomez April 02, 2014 at 02:27 PM
The FBI obviously investigated Calderon for a long time to make sure they had an open and shutRead Morecase. Most likely Calderon was unknowingly surrounded by FBI agents in Cuba if not working with the FBI to catch a bigger fish as part of a plea deal. I'm guessing they will be on Darius like guava jelly on a Pan Suave next.
Ralph Hutchinson April 04, 2014 at 01:27 PM
Did Darius have involvement with this CA Senator Leland Yee and his gun running? Did he raiseRead Moremoney for his campaign? Do favors for each other? Aid and assist gun running efforts? Did Cuba have anything to do with it? Did Darius take Yee to Cuba with him connected to any of that business?
Anna Gomez April 17, 2014 at 12:05 PM
Those protesters were your local postal employees. Here is a quote "The Staples deal willRead Morerepla ce full-service U.S. Post Offices with knock-off post offices in Staples stores that are not staffed with U.S. Postal Service employees." Postal Union members are not a fan of this so they are taking it to the streets. Good for them - raise hell.
Anna Gomez April 17, 2014 at 12:14 PM
I have a question. What happens when Staples goes further down the tubes and takes your PO box with Read Moreit?
Rock Fan April 18, 2014 at 03:45 PM
Thank you Anna , I didn't have clue as I was just driving by . Another situation that may not endRead Morewe ll .
Anna Gomez April 12, 2014 at 02:49 PM
I always knew that the BS "system upgrade" at the Sonoma-Index was an all out scrub job.Read MoreW hat a bunch of big mouth cowardly liars they turned out to be. As far as Cutting goes, it looks like he was the fall guy. On a happy note, judges aren't stupid. They look at who had what to gain and "reasonable" excuses. The "I didn't know" response wouldn't be reasonable. Enjoy your time in the big house folks!
howiewine April 13, 2014 at 12:33 PM
These charges in the complaint don't include anything about Sonoma Valley Bank's PetalumaRead MoreGreenbriar Apartments loans which if reports are true include more abject failure to supervise by the bank's Board Loan Committee. Had one single Board member, all of whom can be described as real estate investors, been concerned enough with a loan that vastly exceeded Cutting's approval limit of $750,000 driven a lousy 15 miles those loans may have never been made. So why did they never make the drive??? Cutting had an approval level to $750,000 which is a lot less than the millions the Board approved and authorized. Were their any pictures of the property attached to the credit/loan request? Was the fact that Madjlessi had defaulted to PFF/US Bank 2 months prior to SVB funding their entry into the Petaluma project based on "character lending" to a "known" entity who had a very checkered past even a speed bump of a consideration? That sailed into the transaction as fast as they could it would seem. ============================================Bottom line============================ Sean Cutting did not have the appropriate bank experience or street smarts so the Board of Directors limited his ability to approve loans to $750,000 or less. To say now that he created some huge scheme without any knowledge of Mel Switzer and the Board Of Directors is simply unbelievable.
howiewine April 16, 2014 at 03:39 PM
This blog is too fact laden for "It's not difficult."
Jim Pacheco March 29, 2014 at 03:18 PM
Keep up the good work on reporting on this case. It is certainly a story that won't be covered inRead Moret he local papers.
Rock Fan April 05, 2014 at 01:09 PM
Does sound like a heap of trouble . Interesting , thanks .
Ralph Hutchinson April 10, 2014 at 03:44 AM
SVB indictments came down Bijian 29 counts money laundering and wire fraud. Sonoma Bankers wereRead Moresaid to have received indictments today as well.
Ralph Hutchinson April 14, 2014 at 12:59 PM
Well they diverted the entire TARP proceeds to 101 Houseco LLC a failed project they bought fromRead MoreFDI C operated Indymac Bank, used fake letter lead, covered up the straw borrower James House of San Clemente all for a hail Mary pass what do they think SIG TARP is going to ask for? "When they pass the cookie jar, you take a cookie" still my favorite saying in this entire case thus far a Press Democrat quote by Cutting after fighting and misleading the shareholders acting like they were stupid and didn't get it why they needed to borrow TARP and all along the borrower, Cutting and Melland are cooking up an EPIC scheme in the background. What is justice for something that misleading? Something that harmed so many Sonoma Valley shareholders and residents? This is embarrassing for Sonoma residents in general. I still think all the Directors are equally to blame since they approved all these hail Mary deals. When will they get their day in court? Index Tribune still covering for them huh?
Ralph Hutchinson April 14, 2014 at 05:01 PM
Directors Nicholas, Switzer, Downing, Brangham, Pistole, Sangiacomo, Hitchcock and Page. They allRead Morev oted in favor of Madjlessi's bad loans according to the FDIC. Cutting and Melland didn't act alone.
Anna Gomez April 14, 2014 at 08:16 PM
I would bet that the Directors will be in some deep trouble. Its not feasible to think that none of Read Morethe directors were in the room when the shady deals were made.
Ralph Hutchinson April 10, 2014 at 04:45 PM
All our Directors (Page, Brangham, Switzer, Downing, Sangiacomo, Pistole and Nicholas) were present Read Moreand voted to approve, renew and extend all the stupid Bijian Madjlessi loans according to FDIC court documents. That means the examiners took copius notes and have proof in hand in the minutes that the Directors acted to bring harm to the bank. Regulators go to such lengths for one reason, to enforce accountability to those responsible. Mark my words...this is not over and the Directors are NOT getting off easy.
howiewine April 10, 2014 at 10:44 PM
30 years per charge for several charges. Goodness, that could be a long time. I find myself feeling Read Moresorry for Cutting, who appears to have been led down the garden path to build up the loan portfolio for what could only have been a possible future sale and jackpot for Directors. It was always coming down to the Board, who had an obvious reason to change the executive compensation package, throwing Cutting under the bus, in my opinion, unless Cutting is an utter sociopath. If there was no untoward compensation to him or blackmail of him it could only mean he was following the orders of the board. Isn't that why they hired a rank novice banker to begin with? Those Directors have MUCH to answer for.
Ralph Hutchinson April 10, 2014 at 04:15 PM
Conspiracy. Imagine the Feds calling it that. And the naysayer cronies of Sonoma Valley said I wasRead Morew rong for using the term conspiracy. Now whose right and whose wrong?
Rock Fan April 10, 2014 at 04:22 PM
Well , I'm gonna go out on a limb here .YOUR RIGHT RALPH !
howiewine April 10, 2014 at 10:06 PM
What about the conspiracy by Bill Lynch and the Sonoma Index-Tribune to kill the truth in real time Read Moreand screw over 1,000 Valley locals by covering up misdeeds?
howiewine April 10, 2014 at 02:04 PM
So now the question becomes WHY ? Melland took money which is public knowledge in past newsRead Morereports. But WHY Cutting? WHY Switzer? Money? Could be. Stupidity? For Sure. Blackmail? Boy that would explain a lot. Did someone get caught in a compromising position? Otherwise why hand the keys of the bank to this obvious crook? But then ALL Directors were present at ALL relevant Board Loan Committee loan approval meetings so whatever it was they ALL had to know. Say let's ask the ALCALDESSA, Ms. Brangham.
howiewine April 10, 2014 at 02:20 PM
Cutting , Melland, Madjlessi, Lonich IndictedRead More!----------------------- http://www.pressdemocrat.com/ article/20140410/articles/140419979
howiewine April 10, 2014 at 04:15 PM
Looks like the shareholder settlement was extremely premature and way too small.
howiewine April 09, 2014 at 07:10 PM
Hooray for these Judges and down with dirty politicians like Ron Calderon, who coincidentallyRead Moreaccomp anied Darius Anderson to Cuba last spring while he was being investigated by the FBI. Darius has a nasty habit of orchestrating skunky deals and hanging with friends of dubious distinction.
Anna Gomez April 09, 2014 at 10:19 PM
Sounds like Darius's assets might go bye bye. Or maybe he will go bye bye.....AuténticaRead MoreCuba! !! Or bust!
Ralph Hutchinson April 10, 2014 at 03:42 AM
This is a character issue with Darius first New York now New Mexico and a family affair to boot. A Read Morereal class act in Sonoma Valley.