http://www.centralvalleybusinesstimes.com/stories/001/?ID=21274
Former real estate agent arrested for investment fraud
By tvgnus Follow Fri, 15 Jun 2012, 4:23am 494 views 3 comments
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The question is - why are any house pimps still at large given that apparently all of them are involved in organized crime.
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APOCALYPSEFUCK is Shostakovich says
"Kaneko then proceeded to outline his style of organized crime to me. The Sumiyoshi-kai in its heyday had been very active in jacking up land prices for a kickback from the Realtors or the banks... it would deliberately block the public auction of seized property by moving yakuza into the buildings or apartments.... Sometimes it would buy the property itself and sell it to a front company...."
"... (The Sumiyoshi-kai) would sometimes get wind of a company that was struggling financially and approach it with offers to help. It'd strip the company of all remaining assets and real estate, taking the company down after using it for other fraudulent enterprises. Mind you, the struggling company was often a willing participant in the proceedings. The Sumiyoshi-kai would use the company's real estate to secure loans from midsize banks, which they never paid back. The company would go bankrupt, but it - and the company executive - would have gotten their cut. Finally, when the property was seized and put up for auction, the yakuza would interfere with the process, buy the land and buildings at a low price and sell them off or let a third party buy the property and take a cut of the transaction as a kickback...."
"Tokyo Vice", page 97, by Jake Adelstein
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The king of investment fraud would be Barney Frank-instein.