Reply – Re: NCCMP & McCarron & all UBCJA Trust Funds Criminal Racketeering &...
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Re: NCCMP & McCarron & all UBCJA Trust Funds Criminal Racketeering & Conversion of Trust Fund Assets - RETIREES, STAND UP & FIGHT BACK
— by Ted Ted
Read it & weep boys & girls; as if declaring their illegal graft & theft of funds up front somehow legalizes the transactions.

"Related launched its fund management business during the global financial crisis, as the company began to encounter a number of distressed investment opportunities. Shortly after hiring Metz, previously the global head of real estate alternatives at Goldman Sachs, to head up the new business in 2009, the company made its first foray into real estate funds through a rather ingenious move.

The initial venture was Related UBC Opportunity Fund, a construction loan fund that was backed by a $100 Million commitment from the United Brotherhood of Carpenters [and Joiners of America], many of whose members then were out of work because of project cancellations or delays during the global financial crisis. The vehicle originated approximately $250 Million in loans for projects across the U.S. (for which there is no formal tracking and/or accountability and/or reporting to ERISA/EBSA & DOL officials, and/or profit/loss statements etc.) with one restriction:all developments that received financing from the fund had to use Carpenters labor. (again, no formal tracking, reporting or accountability etc.)

"At that time in the market, it was very difficult to get construction financing,: said Metz. "Banks were scarred, ending up with projects that they never intended to own. They weren't making loans so we saw an opportunity and went into the construction lending business.""

{Newsflash Genius: The UBCJA is not a Bank (re: First Trade forced divesture (post-facto) of 96% of its assets per the Congress & SEC), but apparently Doug McCarron thinks he, via autocratic fiat and unilateral stupidity is above the Congress & the law(s) of the United States and decided that the UBCJA was in fact now going to act as a Bank in violation of known regulations.

Pension Funds are to be used for the direct benefit of every Unions retirees/pensioneers - as opposed to inure to the profit & loss column of multi-billionaire Developers such as is clearly evinced here.

Moreoever, the tit for tat mob style multi-state racketeering scam qualifies for Hobbs Act extortion and criminal racketeering under RICO statutes. Hard working UBCJA carpenters are not the pawns or patsies for unsecured illegal loans designed primarily to enrich & line the pockets of the wealthy 1% and deny the primary investors (working carpenters) dividends earned upon the theft of their retirement funds. What is very clear here is this tit for tat  arrangement wherein we finance the projects, take an immediate 20% reduction in wages via PLA's negotiated with UBC yes men e.g. (paid Council morons) as a concession to use our money to fund the Developers directly and get absolutely nothing on the back end in the form of declared dividends/interest on said loans (theft of funds) and/or no direct Ownership rights in any project thus developed with said funds - both the extortion & racketeering element are clearly satisfied}