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It's Not Difficult April 16, 2014 at 07:52 PM
They don't like how a comment thread is going, so they delete the whole thing. Then they lambastRead Moreoth ers for deleting comments! Well, it takes a lot of gloss to keep the fever-dreams alive, right guys? Anyway this suits me fine -- my message was sent and received (if not actually understood).
howiewine April 16, 2014 at 08:11 PM
If you purposely pollute my blogs to distract from the intended discussion I'll scrub it everyRead Moretime. Have a nice life.
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.
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?
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