On Friday, it was announced that two San Diego activists is a lawsuit in Federal District Court for the Southern District of California, that name have submitted A.I.G, Goldman Sachs and Deutsche Bank as a defendant.

The lawsuit alleges that all three entities involved fraudulent and speculative transactions, who ran up losses, which were well into the billions of dollars. They claim that the taxpayers were cheated, if saved the Federal Government from the group.

The Federal Reserve Bank of New York was a.i.g relax two rescue loan of about $44 million, which were used to trades of hundreds of failed mortgage-linked securities. Goldman Sachs and Deutsche Bank accompanied some of those securities.

The Fed simply extended loans then failed securities bought and put them groups aside in two holding until everything is. What the Fed has done, if this loan type is get a promise of high-quality collateral in return for the money. It is said that the Fed sold some securities this year.

The whistleblower lawsuit alleges that the Fed rescued have secured the loan with the same non-bank, that due to the non-transparent legislation is questionable, and it should, it makes high-quality collateral, which requires it to loan to troubled banks.

Under the false claims Act may sue for government agencies, private citizens, if they believe that they are aware of fraud. This is also known as the "Whistleblower" statutes. The law allows people a chance, money that has been cheated by the Government and the taxpayers recover. The couple in San Diego, as the plaintiff in the lawsuit are entitled to a percentage of the recovery.

The TARP program, also known as the troubled asset relief program, was a program put in place in October 2008 by George Bush to the U.S. Government, to purchase assets and equity from financial institutions to strengthen its financial sector. It was part of Government measures to address the subprime crisis.

CNBC, an acronym for Special Prosecutor General for the TARP program, is an Office established in the year 2008 was introduced, the actions of the Treasury of police and make sure, that the money is from the TARP program was assigned to monitored and repaid. This organization helps find out primarily to protect the taxpayers about and tracking a scam, with the funds through the TARP program.

In 2008 of the American International Group criticize the salvation of the Special Inspector General for the TARP program, M. Neil Barofsky, the Bank-friendly conditions. Timothy F. Geithner, the current Minister of finance, which at that time was President of the Federal Reserve Bank of New York, led the business. Mr. Barofsky has continuously spoken about the problems of too big to fail financial institutions.

There are currently studies accounting fraud, securities fraud, insider trading, mortgage at 153 still possible service irregularities, obstruction of Justice and other improper conduct, carried out by Sigtarp.

There was a heavy number of villains who have abused the system and the money. Some of the great companies remain large and have become even bigger and more interconnected. In the long run, these companies can an even greater threat to this country become financial system. There are always about $160 billion under various TARP recipients.

If the couple who filed shows in California, that the defendant then company, either alone or in combination false statements, the FHA during 2008, which the Federal Government granting TARP money, the loss of 84 billion dollar fall, it can help to bring some the largest offender of the system in court. The couple in San Diego could save the Government and taxpayers billions of dollars in fact. If as this action is, first the complaint filed a seal and the Government available provided. The claim is known not to others. The Government then has time to examine the claim. You can then intervene in the action or choose to let go of the citizens, and the citizen is entitled to their share of the recovery, or so. Compensated for these claimants under the false claims Act must follow complex procedures.

Montlick and Associates, attorneys at law, we understand the important role of informers in the protection of public funds. Our lawyers Georgia whistleblower also know that an employee with know that their employer is the Government with false Billings cheat can fear reprisals by their employer, but a free, which can provide a no obligation consultation with Montlick & Associates to learn in a safe way for you about your rights and opportunities. Call Montlick & Associates today to see how we can help. We represent clients in all Georgia, including but not limited to Albany, Athens, Atlanta, Augusta, Columbus, Gainesville, Macon, Marietta, Rome, Roswell, Savannah, Smyrna, Valdosta helping Warner Robins and all the smaller towns and rural areas in the State. Call us today for your free consultation at 1-800-LAW-NEED (1-800-529-6333), or visit us on the Internet at www.montlick.com. No matter where you are in Georgia we are only a phone call away and we come to you.

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