https://all-stocks.net/onecoin-scam-paid-300k-to-neil-bush-george-h-w-bushs-son-and-george-w-bushs-brother/
"The vanished head of the OneCoin crypto Ponzi scheme, Ruja Ignatova (also known as the CryptoQueen), has paid $300K to Neil Bush, the son of the late 41st U.S. President George Bush and the brother of the 43rd President George W. Bush, for attending meetings organized by Ignatova’s fraudulent cryptocurrency company.
OneCoin is again in the news for all the wrong reasons. It is undergoing a legal investigation in the United States for allegedly laundering money. Mark Scott, a former attorney at Locke Lord (an international firm) is also facing legal proceedings in a District Court in the United States.
It is alleged that Scott conspired with Ruja Ignatova and her brother Konstantin Ignatov (who recently confessed to fraud) to run the crypto-based Ponzi scheme, OneCoin.
However, Scott’s attorney, Arlo Devlin-Brown, has made it clear before the court that his client had no idea that the OneCoin was based on a fraud.
According to the attorney, when his client had learned that Neil Bush, who comes from a powerful presidential family, had met Ruja Ignatova and her brother, his confidence in OneCoin grew. The attorney also mentioned that there was a transaction with the name of Bush on it.
Upon hearing this, the presiding judge asked whether there was a meeting between Neil Bush, Ruja Ignatova and her brother. Devlin-Brown replied in the affirmative. He also alleged that for this meeting, Bush was paid $300K by Ruja Ignatova.
Devlin-Brown apprised the court that Bush, as a member of the board of Hoifu Energy, had attended a meeting in Hong Kong where the head of the company, Dr. Hui Chi Ming, had informed Bush that he obtained cryptocurrency for an oil deal in Madagascar.
It was here that Neil Bush met with the head of OneCoin Ruja Ignatova. It was later revealed that OneCoin was to be one of the facilitators of that cryptocurrency deal.
Based on investigation conducted by the FBI, Scott’s attorney claimed that Neil Bush was promised 10% of the cryptocurrency deal. Even though the deal never materialized, that does not dissolve the suspicious ties that Bush had with the cryptocurrency Ponzi scheme.
OneCoin has been in the news fora lot of notorious reasons. Investigators unearthed the massive $4 billion scam that OneCoin had been orchestrating behind the curtains.
It led its customers to believe in a fake scheme that emphasized a much higher than the actual value of its digital token. A lot of people fell for the trap and ended up investing in the company by buying the valueless digital token"
https://all-stocks.net/onecoin-scam-paid-300k-to-neil-bush-george-h-w-bushs-son-and-george-w-bushs-brother/
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"A former savings and loan regulator testified under oath yesterday that officials in Washington ordered him to wait for two months in 1988 -- until after Election Day -- before closing a failing Colorado thrift where President Bush's son Neil had been a director.
The delay was ordered despite a request by field supervisors that action should be taken in October, said Kermit Mowbray, former president of the Federal Home Loan Bank in Topeka, Kan. He testified before the House Banking Committee, which is investigating the failure of the Denver-based Silverado Banking, Savings and Loan Association. Mowbray was the top regional regulator for thrifts in a four-state region that includes Colorado."
https://www.washingtonpost.com/archive/business/1990/06/20/ex-regulator-silverado-closing-was-delayed/0e86d2a0-b4c5-41a4-a2f0-39903589edbe/
Sounds like a big story? Bigger than ASAP Trumpy?
Here's what Google does with the news:
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"Silverado Savings and Loan collapsed in 1988, costing taxpayers $1.3 billion. Neil Bush, the son of then Vice President of the United States George H. W. Bush, was on the Board of Directors of Silverado at the time. Neil Bush was accused of giving himself a loan from Silverado, but he denied all wrongdoing.[29]
The U.S. Office of Thrift Supervision investigated Silverado's failure and determined that Neil Bush had engaged in numerous "breaches of his fiduciary duties involving multiple conflicts of interest". Although Bush was not indicted on criminal charges, a civil action was brought against him and the other Silverado directors by the Federal Deposit Insurance Corporation; it was eventually settled out of court, with Bush paying $50,000 as part of the settlement, The Washington Post reported.[30]
As a director of a failing thrift, Bush voted to approve $100 million in what were ultimately bad loans to two of his business partners. And in voting for the loans, he failed to inform fellow board members at Silverado Savings & Loan that the loan applicants were his business partners.[31]
Neil Bush paid a $50,000 fine, paid for him by Republican supporters,[32] and was banned from banking activities for his role in taking down Silverado, which cost taxpayers $1.3 billion. An RTC suit against Bush and other Silverado officers was settled in 1991 for $26.5 million."
https://en.wikipedia.org/wiki/Savings_and_loan_crisis
"Neil Bush was a member of the board of directors of Denver-based Silverado Savings and Loan from 1985 to 1988,[3] during the savings and loan crisis of the 1980s. As his father, George H. W. Bush, was Vice President of the United States, his role in Silverado's failure was a focal point of publicity.
The US Office of Thrift Supervision investigated Silverado's failure and determined that Bush had engaged in numerous "breaches of his fiduciary duties involving multiple conflicts of interest." Although Bush was not indicted on criminal charges, a civil action was brought against him and the other Silverado directors by the Federal Deposit Insurance Corporation; it was eventually settled out of court, with Bush paying $50,000 as part of the settlement.[4]
A friend who also donated funds to the Republican Party set up a fund to help defer costs Neil incurred in his S&L legal defense."
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"I just don't recall," he told reporters during a break in the hearing.
Mowbray submitted a formal recommendation that Silverado be placed into receivership one day after George Bush was elected president, and the thrift was seized by federal regulators on Dec. 9, 1988.
The thrift's failure is expected to cost taxpayers $1 billion, a sum that congressmen from both parties say could have been substantially reduced if officials in Topeka and in Washington had taken action in 1986 and 1987, when its problems first became known.
https://www.washingtonpost.com/archive/business/1990/06/20/ex-regulator-silverado-closing-was-delayed/0e86d2a0-b4c5-41a4-a2f0-39903589edbe/
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