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Plea Deals: Albert D. Seeno

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Seeno executive accepts plea deal, agrees to testify against ...

www.contracostatimes.com/.../seeno-executive-accept...
Contra Costa Times
Mar 15, 2013 - OAKLAND -- A top Seeno company sales executive pleaded guilty Friday ... with a 2010 FBI raid of the Seeno family's Concord headquarters.

FBI arrests Seeno executive, offers first glimpse into 2010 raid

www.contracostatimes.com/.../fbi-arrests-seeno-execu...
Contra Costa Times
Feb 15, 2012 - Seeno Homes district sales manager Carey Hendrickson, 36, of Martinez, was arrested Monday and charged with bank and wire fraud. The FBI ...

Some light shed on longstanding FBI case as Seeno ...

beniciaheraldonline.com/some-light-shed-on-longstanding-fbi-case-as-se...
May 20, 2014 - That probe, which began in 2009, led to an FBI and Secret Service raid Feb. 18, 2010, of two Concord offices of Discovery Sales and its ...

FBI, IRS raid Seeno Construction offices - SFGate

www.sfgate.com/.../FBI-IRS-raid-Seeno-Constru...
San Francisco Chronicle
Feb 19, 2010 - FBI and Internal Revenue Service agents raided the Concord headquarters of the Albert D. Seeno Construction Co. on Thursday and spent all ...
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Dino Ghilotti fatal crash investigation ends without charges

www.marinij.com/.../dino-ghilotti-fatal-crash-...
Marin Independent Journal
Nov 5, 2013 - No criminal charges will be filed in connection with the Florida crash that killed a 22-year-old San Rafael man two days after he graduated from ...

Dino Ghilotti, of the Ghilotti construction family, dies in Miami ...

www.marinij.com/.../dino-ghilotti-of-the-ghil...
Marin Independent Journal
May 12, 2013 - Dino Ghilotti, of the Ghilotti construction family, dies in Miami crash. Dino Ghilotti, a former San Rafael resident who had just graduated from the University of Miami, died Sunday morning from injuries suffered in a car crash near the university's Coral Gables campus, according to local police. He was 22.

Dino Ghilotti Obituary - San Anselmo, CA | MarinIJ.com

www.legacy.com/obituaries/marinij/obituary.aspx?pid...
Legacy.com
May 18, 2013 - Dino Ghilotti Remembered as Charismatic, Warm and Giving Dino ... saw and conquered," said his brother, Willie, "so, too, did Dino, even when ...

911 Calls Released From Car Crash That Left University of ...

www.nbcmiami.com/.../911-Calls-Released-From-Car-Crash-That-...
WTVJ
May 16, 2013 - The calls were placed after the crash, which killed Dino Ghilotti, who was on his way home from celebrating his graduating at Club Liv in Miami ...
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Company Overview of BlackRock Core Alternatives FB TEI Portfolio LLC

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Richard E. Cavanagh

Chairman, Member of Executive Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee, BlackRock Core Alternatives FB TEI Portfolio LLC

AgeTotal Calculated CompensationThis person is connected to 77 Board Members in 77 different organizations across 78 different industries.

See Board Relationships
69--

Background

Mr. Richard E. Cavanagh, also known as Dick, has been a Senior Advisor at The Fremont Group since 2008. Mr. Cavanagh is a Special Advisor at Echoing Green. He served as the Chief Executive Officer and President at The Conference Board, Inc. from November 1995 to 2007. He was a Partner and served as the Principal of McKinsey & Company Inc. from 1980 to 1988. Mr. Cavanagh spent 15 years at McKinsey & Company, Inc. He led McKinsey’s efforts to reorganize the nation’s bankrupt railroads into Conrail – at the time the largest industrial reorganization in history. He served as an Executive Director at Federal Cash Management, White House Office of Management and Budget, U.S. from 1977 to 1979. He led a government-wide effort to improve cash management that saved $12 billion. He served as an Executive Dean of the John F. Kennedy School of Government at Harvard University from 1988 to 1995. He served as Acting Director of Harvard Center for Business and Government from 1991 to 1993. He has been the Chairman of various funds of BlackRock fund complex since 2007. Mr. Cavanagh serves as the Chairman of the Board of BlackRock Senior Floating Rate Fund II, Inc. and BlackRock MuniHoldings Quality Fund, Inc. He served as the Chairman of Educational Testing Service from 2005 to 2009. He has been a Director of The Fremont Group since 1996. He has been a Non-Interested Trustee at various funds in BlackRock fund complex since 1994. He has been a Director at BlackRock Senior Floating Rate Fund II Inc. and BlackRock Corporate High Yield Fund III, Inc. since 2007. He serves as Lead Director of Blackrock Florida Insured Municipal 2008 Term Trust. Mr. Cavanagh has been employed of Blackrock Florida Insured Municipal 2008 Term Trust Inc. since inception. He has been a Director of The Guardian Life Insurance Company of America since 1998. He serves as Trustee of Drucker Foundation. He served as a Director of The Conference Board of Canada. He served as an Independent Director of Arch Chemicals Inc., from 1999 to October 20, 2011. He served as a Director at AeroUSA and AeroUSA 3 until July 1, 2004; Airplanes Ltd. until July 1, 2004; LCI International, Inc., since May 1997 and Olin Corporation. He served as a Trustee of Partners Balanced Trust. He served as a Controlling Trustee of Airplanes Trust of Airplanes Ltd. until July 1, 2004. He served as Lead Trustee of various Blackrock funds in the fund complex. He created the “blue ribbon” Commission on Public Trust and Private Enterprise in 2002, which recommended corporate governance enhancements. He served as a Trustee of The Conference Board, Inc. He served as Trustee at BlackRock Insured Municipal Term Trust, Inc. since 2007. He served as a Trustee of Airplanes Group. He served as a Trustee of Aircraft Finance Trust (AFT) from 1999 to 2009. Mr. Cavanagh served as a Trustee of Airplanes Group since 1995. Until July 01, 2004, he was a Trustee Emeritus at Wesleyan University. He was a Trustee of Educational Testing Service (ETS) from 1997 to 2009. He also directed the President's Reorganization Project for domestic programs. He was an Adjunct Professor of Harvard University since 2007. He is a Co-Author of "THE WINNING PERFORMANCE" (best selling management book published in 13 national editions). Mr. Cavanagh holds a BA degree from Wesleyan University and an MBA degree from the Harvard Business School.

Corporate Headquarters

100 Bellevue Parkway
Wilmington, Delaware 19809

United States
Phone: 302-797-2000
Fax: 302-797-2473

Board Members Memberships

Director, Member of Human Resources & Governance Committee and Member of Product & Distribution Committee
Lead Trustee
Chairman of The Board, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance and Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
1994-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
1994-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
1994-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
1994-Present
Chairman of the Board, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
1994-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
1994-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
1994-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
1994-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
1994-Present
Chairman of The Board, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Compliance Committee, Member of Governance & Nominating Committee and Member of Performance Oversight Committee
1994-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
1994-Present
Chairman of The Board, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
1994-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
1994-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Performance Oversight Committee, Member of Governance & Nominating Committee and Member of Compliance Committee
1994-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
1994-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
1994-Present
Chairman of The Board, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
1994-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
1994-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
1994-Present
Chairman of The Board, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
1994-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
1994-Present
Chairman, Member of Executive Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
1994-Present
Chairman, Chairman of Executive Committee, Chairman of Performance Review Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Compliance Committee and Member of Performance Oversight Committee
1994-Present
Chairman of the Board, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance and Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
1994-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Compliance Committee and Member of Performance Oversight Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman of The Board, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman of the Board, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman of the Board, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Compliance Committee and Member of Performance Oversight Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman of The Board, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Compliance Committee and Member of Performance Oversight Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance and Nominating Committee, Member of Compliance Committee and Member of Performance Oversight Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chair of The Board, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Compliance Committee, Member of Governance & Nominating Committee and Member of Performance Oversight Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance and Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman of the Board, Chairman of AMPS Committee, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance and Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance and Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman of The Board, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Compliance Committee, Member of Governance & Nominating Committee and Member of Performance Oversight Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman of The Board, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Compliance Committee and Member of Performance Oversight Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman of the Board, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman of The Board, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman of the Board, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance and Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chair of the Boards, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance and Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Amps Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman of The Board, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman of The Board, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Compliance Committee and Member of Performance Oversight Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Compliance Committee and Member of Performance Oversight Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee
2007-Present
Chairman of the Board of Trustees, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Compliance Committee and Member of Performance Oversight Committee
2008-Present
Chairman, Member of Executive Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee

Education

MBA
Harvard Business School
BA
Wesleyan University

Other Affiliations

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UC Regent Richard C. Blum

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Regent Richard C. Blum

Richard BlumRichard C. Blum is Chairman of Blum Capital Partners, L.P. and Co-Chairman of Newbridge Capital, LLC. Mr. Blum earned his B.A. and M.B.A degrees from the University of California, Berkeley. He was the recipient of UC Berkeley's Haas School of Business Alumnus of the Year Award in 1994 and is a member of the Advisory Board of the School.
Mr. Blum serves as a director on a number of boards, including Playtex Products, Glenborough Realty Trust and is Chairman of CB Richard Ellis. He also serves as Co-Chairman of the World Conference on Religion and Peace and is Founder and Chairman of the American Himalayan Foundation and is a board member of the World Wildlife Fund and the Wilderness Society. He is also a trustee and a member of the executive committee of The Carter Center, founded by former President Jimmy Carter.
Mr. Blum was appointed as a Regent in 2002 by Governor Davis to a 12-year term. In 2014 he was reappointed to a 12-year term by Governor Brown.

Term of Appointment

Appointed:
March 12, 2002
Reappointed March 1, 2014
Term expires:
March 1, 2026

Committee Membership (2015-2016)

Governance
Health Services
Oversight of the DOE Laboratories
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Fremont Private Holdings Management Team

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TEAM

Scott Earthy
Scott is the Managing Partner of Fremont Private Holdings, the direct investment division of Fremont Group. Fremont Group was founded more than 25 years ago to manage the assets of the San Francisco-based Bechtel family. Prior to joining Fremont, Scott was a Managing Director and a member of the Investment Committee at Ingleside Investors, a single family investment office for the New York-based Israel family.
Earlier in his career, Scott sourced and executed direct investments on behalf of the Chicago based Pritzker family and the Vancouver based Armstrong family. Scott's other previous work experience includes the mergers and acquisitions practice of Goldman Sachs and the financial institutions group at McKinsey & Company.
A native of Vancouver, Canada, Scott holds a Bachelor of Commerce degree from Queen's University and an MBA from Stanford University.
Email: searthy@fremontgroup.com
Tim Sheehy
Tim is a Managing Director of Fremont Private Holdings, the direct investment division of Fremont Group. Fremont Group is the investment office for the San Francisco-based Bechtel family. Tim focuses on sourcing, evaluating and executing investments on behalf of FPH.
Prior to joining Fremont, Tim was with Bunker Hill Capital, a middle market private equity investment firm based in Boston, Massachusetts. Earlier in his career, Tim was a member of the direct private equity investing groups of the Bank of Boston and Bank of America. Tim's other previous work experience includes the investment banking group of Robert W. Baird & Co.
A native of San Francisco, California, Tim holds a Bachelor of Arts in Economics from The University of Chicago and an MBA from The Wharton School of the University of Pennsylvania.
Email: tsheehy@fremontgroup.com
David Badham
David is a Senior Associate at Fremont Private Holdings. David focuses on sourcing, evaluating and executing direct private investments on behalf of FPH. Prior to joining Fremont, David was an Associate at Metalmark Capital, a middle market private equity firm focused on making control investments in a variety of industries, including Industrials, Healthcare, Energy, and Business Services. Earlier in his career, David worked in the investment banking division at Morgan Stanley.
A native of Raleigh, North Carolina, David holds a Bachelor of Arts in Economics and History from Duke University.
Email: dbadham@fremontgroup.com
John Hughes
John is a Senior Associate at Fremont Private Holdings. John focuses on sourcing, evaluating and executing direct private investments on behalf of FPH. Prior to joining Fremont, John worked on private equity and debt investments as a Vice President at PineBridge Investments, a global asset management firm. Earlier in his career, John worked in the investment banking division at Bank of America Merrill Lynch.
A native of Northern New Jersey, John holds a Bachelor of Science in Economics from The Wharton School of the University of Pennsylvania.
Email: jhughes@fremontgroup.com
While using the HTML editor , check the cleaning options you want to perform when you press the main Clean button or execute them one by one.
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OBIT: Concord Councilman Michael Chavez

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Concord CA 1980's

Mr. Chavez has for years been well-known to downtown merchants and he knew my past work.  I likely built cabinets for his shop like many other salons popping up. 

Like Brian Schwalen of Select Properties Alamo he dropped dead. 

The common denominator between them is Mr. Chavez was the designated lead on the steering committee for the Concord Naval Weapons Station conversion, and candidate Erik Nunn who perished in a fatal flight in LVNV in June 2008 just 36 hours after we'd planned our first face to face meeting.


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2011 UBS rogue trader scandal London to the UBS Bond Desk -

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2011 UBS rogue trader scandal

 
Note: I know a former UBS Bond Trader and Mormon that lost his job after being connected to this story.  He knows Accenture Employee Bishop Lyons who died during a cub scout hike.  I know far too many suspicious deaths within the Danville Stake.  Bishop Lyons knows my former attorney and Nate Greenan who are connected to Alamo 1st who is connected to Bechtel via Fremont Group.

In early September 2011, the Swiss bank UBS announced that it had lost over 2 billion dollars, as a result of unauthorized trading performed by Kweku Adoboli, a director of the bank's Global Synthetic Equities Trading team in London.[1][2]
On 24 September 2011, Oswald Grübel, the CEO of UBS, resigned "to assume responsibility for the recent unauthorized trading incident", according to a memo to UBS staff.[3][4] On 5 October Francois Gouws and Yassine Bouhara, the co-heads of Global Equities at UBS, also resigned.[5] It later emerged that UBS had failed to act on a warning issued by its computer system about Adoboli's trading.[6][7][8]
After two delays requested by Adoboli and a change of legal representation, Adoboli pleaded not guilty to two counts each of fraud and false accounting on 30 January 2012. He was released on conditional bail after a bail application at Southwark Crown Court on 8 June 2012. He was later convicted of both counts of fraud and sentenced to seven years imprisonment. He is currently appealing both conviction and sentence.[9]

Contents

The trading incident

On 15 September 2011, Adoboli was arrested under suspicion of fraud in connection with a loss of a then-estimated US$2 billion, reportedly due to unauthorized trading at the Swiss group’s investment bank. A spokesperson from the Swiss banking regulator FINMA referred to the case as one of the biggest ever seen at a Swiss bank.[1] Adoboli had originally retained the law firm of Kingsley Napley, which previously advised Nick Leeson.[10] However, he has now changed his legal representation to Bark & Co and Furnival Chambers, with the fees being paid by legal aid.[11] On 30 January 2012 he pleaded not guilty to two charges of fraud and two charges of false accounting and faces up to 10 years in prison if convicted of all charges.[12]
The loss to UBS was described as "manageable" although it might cause UBS to report a net loss in the following financial quarter. The bank's net earnings for the year ending June 2011 were $6.4 billion[13] with a gross profit of approximately $1.1 billion reported by UBS for the third quarter of 2011.[14][15] On 15 September, the day of Adoboli's arrest, the price of the stock of UBS closed down 10.8%, while the price of other European bank stocks rose between 3–6%.[16]
It has been reported that Adoboli informed UBS of his unauthorized trades, and then the bank informed the Financial Services Authority and the police.[17] On 16 September, it was announced that City of London Police charged Adoboli with fraud by abuse of position and false accounting.[18]
On 18 September 2011, UBS issued a statement which revealed the losses from the alleged unauthorized trading stood at $2.3 billion. The rogue trader reportedly racked up the losses by speculating on EuroStoxx, DAX and S&P 500 indexes.[19]
The prosecutor in Adoboli's trial, Sasha Wass, stated that Adoboli "was a gamble or two from destroying Switzerland's largest bank for his own benefit."[20]
According to Business Insurance, as in the case of the unauthorized trades by Nick Leeson at the Singapore office of Barings Bank, the Adoboli incident took place at a location away from the bank's central office, where the risk management systems are typically stronger.[21]

The accused trader

Kweku Adoboli was born 21 May 1980.[22] His family home was in Tema, Ghana, but he has lived in the UK since 1991 and been described as "British by culture, citizenry and fame."[23]
He graduated from the University of Nottingham, where he studied computer science and management, in 2003.[1] Prior to this, he studied at Ackworth School (a Quaker-run private boarding school near Leeds), where he was Head Boy between 1997–1998, the year he graduated.[24]
According to the Daily Telegraph, shortly before the news of the incident broke, Adoboli had posted on his Facebook account that “I need a miracle”.[25]
Kweku's father, John Adoboli, is a former Ghanaian official at the United Nations. On the day of his son's arrest, he expressed the family's shock and disbelief: "We are all here reading all the materials and all the things being said about him. The family is heartbroken because fraud is not our way of life."[26]

Mechanics of the incident

According to UBS, Adoboli had disguised the risk of his trades by using "forward-settling" ETF cash positions.[27]
According to the Financial Times, and other sources, Adoboli is suspected to have used the fact that some ETF transactions in Europe are not issued confirmations until after settlement has taken place.[2] The exploitation of this process allows a party in a transaction to receive payment for a trade before the transaction has been confirmed.[28] While the cash proceeds in this scheme can not be simply retrieved, the seller may still show the cash on their books and possibly use it in further transactions.[28] The process of orchestrating fails to deliver trades may then be used in a carousel of transactions.[28][29] Unlike in the United States, no data about the volume of fails-to-delivers is available for Europe.[28][30] CNN and World Finance also stated that some banks have deliberately allowed certain levels of fails-to-deliver, as a method of "dealing with financial stress" so that between accounting cycles the value of securities sold, but not delivered, as well as the value of the cash booked, but not received can be reflected on the books.[28][29][31]
In October 2011, Sergio Ermotti, the interim CEO of UBS, after the departure of Grübel, admitted that the computer system at UBS had detected the unauthorized trading activities of Adoboli beforehand and had issued a warning, but the bank had failed to act on the warning.[6][7][8]
In May 2012, Sergio Ermotti, Group CEO, spoke at the UBS AGM about the changes implemented following the scandal. Ermotti spoke of improved internal monitoring and deficiencies in the financial reporting control system that have been addressed. Ermotti also made reference to employees that have been replaced or had pay docked due to serious mistakes or unreasonable behaviour.[32]

The fallout

On 24 September 2011 Oswald Grübel, the CEO of UBS resigned "to assume responsibility for the recent unauthorized trading incident", according to a memo to UBS staff.[3][4][33] Bloomberg reported UBS to be "in disarray" following the departure of the CEO as a result of the scandal.[34] Ten days later the co-heads of Global Equities at UBS, Francois Gouws and Yassine Bouhara, also resigned.[5]
UBS stated that no clients funds were lost as a result of the scandal, but according to The Daily Telegraph, the reputation of UBS could suffer "significant damage”, and that the amount lost was almost the same as the savings UBS had planned via the elimination of 3,500 jobs.[25]
In mid-November 2011 UBS announced that it would cut back half of the risk-weighted assets in its investment bank over the next five years to reduce risk exposure in the wake of the trading scandal.[35] In June 2012 UBS announced that their ongoing investigation has resolved the weaknesses that made this unauthorized trading possible. Along with their auditors, Ernst & Young Ltd., UBS aim to confirm this with internal control of financial reporting in December 2012.[36]
On 26 November 2012, the United Kingdom's financial regulator fined UBS £29.7 million ($47.6 million) for system and control failings that allowed Kweku Adoboli to cause over $2 billion losses through unauthorized trading in London.[37]
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