Tuesday, March 20, 2012

U.S. Army Massacre Specialist Robert Bales Also a Ponzi Stock Broker – Unbelievable!

Can I interest you guys in some Enron stock?

He'll get off scot free.  He worked for Wall Street.

This story gets stranger by the hour.  Kind of like the whole Bush/Obama Foreign Policy.

The U.S. soldier accused of gunning down 16 Afghan civilians, including nine children, was more than $1million in debt and had defrauded a pensioner out of his life savings, it has been claimed.

Federal documents show how Staff Sgt Robert Bales scammed pensioner Gary Liebschner of Carroll, Ohio, of more than $800,000 in a stock scam just before he enlisted in the army.

Financial regulators found in 2003 how Bales 'engaged in fraud, breach of fiduciary duty, churning, unauthorised trading and unsuitable investments'. Liebschner claims the then stock broker, working for Ohio brokerage firm MPI, took his life savings of $852,000 in AT&T stock and reduced its value to nothing through a series of trades.

Alongside his associates, Bales was ordered to pay his victim $1,274,000 in compensatory and punitive damages. But he has not yet done so.

Liebschner told ABC News he recognised 'smooth talker' Bales after news reports about the massacre.

He said: 'He robbed me of my life savings. We didn't know where he was. We heard the Bahamas, and all kinds of places.' When asked if he was a conman, he said: 'You've hit the nail on the head.'