FINRA Board To Address Allegations Of Mary Schapiro’s Misconduct

Is Mary Schapiro a Fox in the Hen House ?

"" Are the wagons circling around Mary Schapiro and her former FINRA colleagues?
Regular readers of Sense on Cents are familiar with the issues and concerns I have raised repeatedly with Wall Street’s self-regulator, FINRA.

I continue to believe the issues embedded within this self-regulatory organization lie near the heart of what I deem the Wall Street-Washington nexus.

Perhaps America will learn more about these issues soon. Why?

Next week, FINRA’s Board of Directors will address alleged wrongdoings by Ms. Schapiro et al. What are the issues? Please review this release put out this morning highlighting a number of questions I have been asking for the last year.

Will the Board realize it ultimately needs to be accountable to ALL its member firms and, by extension, to the American public at large? Will the Obama administration compel the Board to provide the transparency America so badly wants?

FINRA MUST OPEN ITS BOOKS and RECORDS and ANSWER to AMERICA!!
FINRA BOARD TO CONSIDER ALLEGED WRONGDOING BY FORMER CHAIR MARY SCHAPIRO AND HER COLLEAGUES

Feb. 10 Closed Door Board Meeting to Consider Broker-Dealer’s Allegations
WASHINGTON, DC, February 4 - On February 10, 2010, the Board of Governors of the Financial Industry Regulatory Authority, Inc. (”FINRA”) will consider allegations of gross mismanagement set forth in a December 4, 2009 letter to the Board on behalf of Amerivet Securities, Inc. (”Amerivet”), a member of FINRA.

The letter demands that FINRA take action against Mary Schapiro and other senior FINRA executives to recover excessive compensation and unprecedented portfolio losses stemming from FINRA’s dismal 2008 regulatory and investment performance. In 2008, Ms. Schapiro’s last year as FINRA chair, that organization:

Failed to act against Bernard Madoff and Robert Allen Stanford, who perpetrated two of the largest Ponzi schemes in history;

Failed to act against large FINRA members Lehman Brothers, Bear Stearns and Merrill Lynch in connection with their roles in the subprime mortgage securities scandals;

Failed to warn investors about Auction Rate Securities (ARS) problems, after FINRA had liquidated its own ARS holdings in mid-2007, but before the ARS market “froze” and there were any public disclosures about the risks inherent in such “investments”;

Suffered nearly $700 million in loses;

PAID ITS SENIOR EXECUTIVES NEARLY $30 MILLION.
Broker-Dealer: “Schapiro and Colleagues Bilked FINRA of Millions”
Amerivet principal, Lt. Col. Elton Johnson (U.S. Army Reserve), an Iraq War combat veteran, stated:

“Despite President Obama’s call for accountability for wrongdoing, past and present, Mary Schapiro and her colleagues have thus far gotten away with bilking FINRA of tens of millions of dollars in 2008, even as that self-regulatory organization failed in its fundamental responsibility to protect investors, and FINRA sustained nearly $700 million in financial loses. It is ironic that Mary Schapiro received a salary more than 15 times that of a four star general, while FINRA was, by any measure, failing miserably.”

Whistleblower: FINRA “Definitely In Bed With Industry”
During his 2009 testimony, Madoff whistleblower Harry Markopolos told Congress that FINRA is “definitely in bed with the industry” and “[gets] an A+ for corruption.” Separately, a report from SEC Inspector General David Kotz quotes Bernard Madoff as referring to Ms. Schapiro as a “dear friend.”

Attorney Richard Greenfield added:
“The excessive compensation packages for the FINRA self-regulatory executives who failed to regulate represent cynical and hypocritical examples of the incestuous Wall Street-Washington relationships that have incensed voters across the United States.”

Amerivet is a small broker-dealer located in Moreno Valley, California and a member in good standing of FINRA. Lt. Col. Johnson has been an officer in the United States Army Reserve for 24 years.

He has completed two tours of duty in Iraq, he is currently on active military duty at Fort Irwin, CA, and he will soon begin preparations for deployment to Afghanistan later this year.

What will the Board do? For whom are they working?
High time we received real truth, transparency, and integrity. ""

Source of Post
http://www.dailymarkets.com/economy/2010/02/04/finra-board-to-address-allegations-of-mary-schapiros-misconduct/
mary schapiro
Mary Schapiro has had plenty of advanced warning to Help the Shareholders of Time Warner, Intel, Lockheed Martin,IBM, Sony, Warner Bros., AOL and More with an SEC Complaint Filed by Iviewit Technologies Owner Eliot Bernstein. Click Here to Read That SEC Complaint.

posted here by
Investigative Blogger
Crystal L. Cox
crystal cox whistleblower
More on the Trillion Dollar Iviewit Stolen Patent at
www.DeniedPatent.com and www.Iviewit.TV
mary shapiro sec - mary schapiro

Warner Bros. Signed Non Disclosure Agreements with Iviewit, Warner Violated those Agreements. Warner Signed License and Service Agreements.. .

Warner Bros. - has broke the Law and in the process put shareholders at HUGE risk, why is Jeffrey Bewkes ignoring this blatant proof of Fraud.

Warner Bros signed multiple Iviewit Non Disclosure Agreements and Warner Bros. Signed License and Service Agreements with the Iviewit Company. 9 years have passed and Warner Bros. Blatantly and Illegally Violated those agreements long ago, why?

And Now Eliot Bernstein Founder and one of the Inventors it the Iviewit Stolen Patent has filed a very informative, incredibly detailed SEC Complaint. One that for Now Mary Schapiro and the SEC seems to be ignoring... I am not sure why just yet.. but hope to get tips on this soon...

Some of the Warner Bros' Iviewit Timeline and more details
of the Warner Bros. Relationship with the Iviewit Company.

" " TIMELINE OF WARNER BROS ET AL. RELATIONSHIP WITH IVIEWIT

The following Timelines are presented to give a factual timeline to the allegations herein, the exhibits are linked online and all Uniform Resource Locators (“URL”) and Exhibited Links throughout this document are hereby incorporated, in entirety by reference herein, including over 1000 evidentiary links on the homepage at www.iviewit.tv with exhibits that contain thousands of pages of factual evidence[5].

The timeline will also reveal facts regarding the relationships between many of the Defendants in my Federal RICO and ANTITRUST Lawsuit and Warner Bros et al., including relations to the main perpetrator of the alleged crimes, the law firm Proskauer Rose.

*Note Warner Bros et al. relevant mergers, acquisitions and breakups to these matters in the timeline below are in bold italics.

1998-2002
Relevant Communications Between Iviewit and Warner Bros et al.

· 1998-2001
Inventions in Imaging and Video Discovered and Intellectual Property Filings begin in 1998. Proskauer Rose was retained Intellectual Property counsel for Iviewit for filing of Intellectual Properties.

· 2000-2002
Warner Bros et al. signs multiple Iviewit Non Disclosure Agreements.

Non-Disclosure Agreements @
http://iviewit.tv/CompanyDocs/Patents/Confidentialities/confidentialities%20total.pdf
Pages 1-5, 10, 61-62, 80, 108-109, 234

· November 02, 2000 ~ Letter to GS regarding Warner Bros. Technological Calls to Iviewit Investors by Warner Bros. employees, describing the efficacy of the Inventions and the results of the review by Warner Bros., including the anticipated uses by Warner Bros et al.

http://iviewit.tv/CompanyDocs/20001101%20Goldman%20Friedstein%20Letter%20from%20Buchsbaum%20re%20AOLTW%20Colter%20meetings.pdf

· January 11, 2001 ~ America Online and Time Warner Complete Merger to Create AOL Time Warner
http://www.timewarner.com/corp/newsroom/pr/0,20812,668364,00.html

· February 08, 2001 ~ Letter from David J. Colter (“Colter”) ~ Vice President Technology - Technological Operations Warner Bros. to Founder of AOL, Ted Leonsis (“Leonsis”), regarding the efficacy of the Iviewit technologies.

http://iviewit.tv/CompanyDocs/20010208%20Colter%20to%20Leonsis%20Warner%20Bros%20AOL.pdf

· February 15, 2001 EFFECTIVE DATE - Signed Warner Bros. License And Service Agreement @
http://www.iviewit.tv/CompanyDocs/20010822%20-%20SIGNED%20Warner%20Bros%20Agreement%20AOL.pdf

August 15, 2001 Irell & Manella LLP Bills for Services for Warner Bros et al. and Sony Licensing Agreements @

http://www.iviewit.tv/CompanyDocs/Patents/Paul%20Allen/old%20patent/LEGAL/Irell%20&%20Manella/Bills/2001%2008%2029%20-%20Irell%20Bill.pdf

It is imperative for the SEC to note that after the Signed Licensing and Service Agreement, Iviewit opened a California Office inside a Warner Bros. building, in order to take over encoding operations for their online content, and more.

Iviewit began billing according to the Licensing and Service agreement. Please note the language in the Licensing and Service agreement pertaining to the Proprietary nature and Confidentiality of the Iviewit inventions.

Suddenly, after the agreements were signed and operations were underway, Wayne M. Smith ~ Vice President and Chief Patent Counsel at Warner Bros. began seeking a re-review of Proskauer Partner Kenneth Rubenstein ’s (“Rubenstein”) prior patent opinions regarding the Iviewit inventions to Warner Bros. employees.

Smith then claimed to Colter that he found problems while reviewing Rubenstein’s opinion with the patents on file at the US Patent Office[6]. At this point, allegedly, a coordinated conspiratorial effort between Smith, Rubenstein and others began to derail the already signed Iviewit agreements with Warner Bros et al.

Allegedly, former “Acting CEO” of Iviewit, P. Stephen Lamont, (a referral emanating from AOL’s Leonsis) Smith and Rubenstein then worked to derail the Licensing and Service Agreement. Warner Bros. then further attempted to deny the existence of this BINDING CONTRACTUAL OBLIGATION as further evidenced in letters exhibited herein, whereby the Signed and Binding agreement is wholly denied.

The amount owed in service fees since the signing of the contracts would be an enormous amount over the almost 10 years of use and where Warner Bros et al. have never notified Iviewit they were cancelling such contract, it may still be considered effective. Yet, it would difficult to cancel what one tries to deny the existence of and perhaps the reason no cancellation was formally completed.

o The emails forward from this point in the timeline begin to attempt to hide from the fact that Licensing and Service Agreements were already in place while also hiding these facts and liabilities from Shareholders and Auditors.

The alleged fraud may again have catastrophic effect on these highly traded stocks, reaching back to this point in time and possibly further back.

· April 04, 2001 Letter from Colter to William J. "Bill" Raduchel (“Raduchel”) ~ Chief Technology Officer and Executive Vice President at AOL. AOL’s Leonsis referred Raduchel to do further due diligence for an investment in the Iviewit companies, in addition to the Licensing and Encoding deal already signed.

http://iviewit.tv/CompanyDocs/20010404%20Colter%20to%20Raduchel%20Leonsis%20referral%20AOL%20Warner%20Bros.pdf

· May 25, 2001 Letters to and from Douglas Chey (“Chey”), Senior Vice President of Technology for Sony Pictures Digital Entertainment and Divisional CIO, Motion Pictures and Television Productions of Sony Pictures Entertainment. Chey, formerly with Warner Bros. was working with Iviewit at Sony (also under Signed Agreements) together with Warner to do a Five Studio Movie Download Project, Movielink, where the Iviewit inventions were to be the backbone enabling technologies to make digital download and streaming possible as a commercial endeavor.

Since that time, Warner Bros et al. and Sony have both done similar digital downloading projects, in violation of Signed Agreements with Iviewit.

http://iviewit.tv/CompanyDocs/20010525%20Sony%20Doug%20Chey%20Endorsement%20of%20Tech%20and%20Advisory%20Board%20Option%20letter.pdf

http://iviewit.tv/CompanyDocs/20100120%20Douglas%20Chey%20Sony%20Bio.pdf

The SEC should also begin FORMAL INVESTIGATION of Sony’s involvement in these matters. Similar calls to those described herein to Warner Bros et al. for sound business discussions to attempt to alleviate shareholder liabilities have gone wholly ignored by Sony’s In House Counsel, Executives and Auditors.

I will be filing a more formal complaint shortly with the SEC but this should not delay immediate investigation by the SEC, in order to preclude Massive Liabilities to Shareholders of Sony.

The SEC and all other investigators and committees addressed herein, can take this Formal Complaint additionally as a FORMAL COMPLAINT AGAINST SONY. ""

Source of Post and of Warner Bros SEC Complaint

Immediate Attention to TWX, AOL, Warner Brothers, and Time Inc. Shareholders. SEC Complaint Against AOL,TWX, Time Warner... Pay Attention.

Eliot Bernsteing of Iviewit Technologies Filed and SEC Complaint Regarding Time Warner, Jeffrey Bewkes, Wayne Smith and YOUR MONEY...

This Complaint Alleges and Seems to Prove Massive Shareholder Fraud, and Could Lead to a Total Financial Collapse of Time Warner and AOL.

"" Time Sensitive Urgency to this Complaint; Potential Catastrophic Effects to the Shareholders of Warner Bros et al.; Fraud could Trigger Rescissory Shareholder Rights

To further establish the urgency and Time Sensitive nature of this FORMAL COMPLAINT, please note that the criminal fraud and other crimes described herein will likely trigger Rescissory Rights of Shareholders at all of the respective and related companies of Warner Bros et al., which likely will have Catastrophic impact on both the companies and its Shareholders.

Therefore, the SEC must instantly investigate these matters and instantly bring the matters to the attention of the Warner Bros et al. Shareholders, Auditors, Financial Institutions and all other parties with potential liabilities resulting from the allegations herein and whereby if the companies and their Executives fail to notify Shareholders and Regulators, the SEC must act quickly to notify them.

The SEC must begin immediate investigation of the Securities Frauds described herein and prevent ongoing and future fraudulent corporate transactions from further harming Shareholders of Warner Bros et al.

Further, I point out to the SEC herein what looks like a recent pattern of Shareholder Fraud and Deceit done with Scienter, beginning on or about March 2009, by Officers, Directors, Counsel and Auditors for Warner Bros et al., which are alleged to have been done in order to commit further fraud upon the Warner Bros et al. Shareholders. That these recent corporate restructurings may be the result of Key Executives of Warner Bros et al. attempting to abscond with corporate assets through a series of recent complex corporate breakups.

The breakups began immediately after I contacted Warner Bros. in March 2009 with my business consultant Kevin Hall, Esq. (“Hall”), regarding massive unreported liabilities to their Shareholders[4].

Liabilities resulting from Warner Bros et. al’s involvement in my Twelve Count Twelve Trillion Dollar Federal RICO and ANTITRUST Lawsuit and additional liabilities resulting from the knowing infringement of my Intellectual Properties and for their failure to report these liabilities under FASB No.5 and other laws.

This Formal Complaint for Investigation of Warner Bros et al. on this day, Friday, February 12, 2010comes after Hall and I made repeated Good Faith attempts since March 2009 to address the Business and Corporate Responsibility issues with Executives, Officers, Board Members and Auditors at the respective companies.

Warner Bros et al. was contacted in order to find possible solutions to avoid catastrophic events from occurring to their Shareholders, if possible, prior to further actions with investigators, including the SEC.

The following timeline of events will establish the correlations between the allegations of fraud described herein, in relation to the timing of the corporate restructurings of Warner Bros et al. Correlations in time with both the 2001 merger and now in the 2009 breakup with the frauds described herein, will provide the SEC a basis, mired in factual evidence, to begin immediate investigation of this complaint for massive securities fraud, in order to protect Shareholders from further possible related losses in these highly traded blue chip stocks. ""

Full Warner Brothers, Jeffrey Bewkes SEC Complaint Click Here

Who is Looking out for AOL and Warner Brothers Shareholders? Well we know it is not Mary Schapiro of the SEC.

Time Warner - WBOL - Fraud Against Shareholders, Lies about Liability and NOT honoring Contracts, Why?

Why Did the SEC allow Warner Brothers to Split off Aol after they wre warned of a Trillion Dollar Liability that they would certainly be responsible for Some if not all the Damages?

So We have Bills that Show every Charge for the Entire Process of setting up and Supposedly Executing these Contracts such as the one Below.

2001 08 29 - Irell & Manella bill for AOL license agreement they drafted.

yet AOL was allowed to Split from WBOL, and Warner Bros. Is NOT being MADE to honor these Contracts, Why?

This is FRAUD against the Shareholders as AOL - Time Warner Inc. knew that this Major Liability was NOT accounted for on their Books. So why is Time Warner AOL still ignoring the Rights of the Iviewit Inventors, are they trying to hide assets... no matter how you look at it Time Warner - Time Warner, Warner Bros., WBOL,AOLTW, AOL, Time Warner Inc., Whatever name you have for them... they KNEW and did not share with shareholders a HUGE Debit on their Books.

There is Confidentiality Agreements, and So Much Evidence, All these Names and Players, Contracts, Bills and Still Warner Brothers acts like this Just Does NOT exist... hmmm...

There are BINDING term sheets from 2001 and Still WBOL ignores the rights of those they entered into contract with, WHY?

Warner Bros. Online Videos has NOT been honoring this Contract but using the Technology for around 8 Years now, and after Iviewit Sent them Disclosure of the Issue pending, they Split of AOL, and the SEC has no Issue with this?

Do Warner Brothers Shareholders have ANY issue with any of this ? I Guess they had better Start Considering it's Validity... any Time Now...

Click Here for Contracts and Information from 2001
that Seem to Have Slipped Warner Brothers Mind.


More Links to Research This Topic

http://iviewit.tv/CompanyDocs/Book/index.htm

www.Iviewit.TV

www.DeniedPatent.com

AOL, Time Warner Inc, Iviewit, SEC Fraud, Andrew Y. Choung, IRELL and Manella LLP,WBOL, Warner Bros. Online, Stock Tips