RAPID CITY – A lawsuit filed in October when you look at the Wakpamni Lake Community Corporation scandal that defrauded retirement trust funds of $43 million, alleges three law offices and many people included, neglected to perform their homework within the issuance of “worthless” bonds and it is waiting to attend test.
The Wakpamni Lake Community Corporation, situated on the Pine Ridge Indian Reservation, designated by the U.S. Census Bureau among the poorest areas into the Nation, had been the target of a scheme that is complicated to use these unsica (poor) individuals as being a front side to enrich on their own.
The primary perpetrators had been caught and so are presently serving federal prison time for securities fraudulence.
Nevertheless the trust funds which were bilked away from $43 million believe more people and a few law offices are culpable when you https://personalbadcreditloans.net/payday-loans-wy/ look at the scheme and have now filed suit.
The truth, filed by Chicago Transit Authority Retiree medical care Trust plus the Board of Trustees for the Chicago Transit Authority Retiree healthcare Trust (RCHT) is directed at the statutory attorneys Dilworth Paxson, LLP; Timothy Anderson; and Greenberg Traurig, LLP
In line with the brief filed on October 18, 2019, when you look at the Circuit Court of Cook County, Illinois County Department, Law Division the “lawsuit comes from the Defendants’ involvement in, and help with, the issuance of $43 million in useless bonds (the “Bonds”) to unwitting general public retirement funds, including RHCT. The Bonds are not element of the best finance that is public, but instead an unlawful scheme to enrich a few people linked to the Defendants, including wellВ known fraudster, John Galanis, their son, Jason Galanis (collectively, the “Galanises”), and flyВ by-night tribal financiers, Steven Haynes and Raycen Raines, the second allegedly ended up being romantically involved in the Greenberg partner Heather Dawn Thompson representing the issuer throughout the deal.”
In accordance with the lawsuit Heather Dawn Thompson, an associate regarding the Cheyenne River Sioux Tribe, whom once served as a prosecutor that is federal presently someone at Greenberg Affiliated within their Denver office, had been employed in 2014 by Raycen Raines the CEO associated with the WLCC to represent them in relationship deal.
The brief states, “In or just around might, 2014, Timothy Anderson informed Raines which he is representing the Galanis’s and their businesses into the relationship deal, rather than their previous customer WLCC. Because of this, Raines needed seriously to find counsel that is separate express WLCC.
Heather Thompson (“Thompson”) is a partner with Greenberg affiliated with its Denver office, but lives in South Dakota near or on the Oglala Sioux’s Pine Ridge Reservation dawn.
Thompson, whom focuses primarily on things associated with law that is tribal economic development, served as Greenberg’s main client relationship lawyer for the relationship deal.
Thompson had been Raines that is allegedly dating’s CEO, at that time Greenberg represented WLCC when you look at the Wakpamni relationship deals, in addition to two are actually hitched.
Thompson had been assisted by two lovers from Greenberg’s Denver workplace: Michael McGinnis and Jennifer Weddle. McGinnis is a bond that is experienced and person in the National Association of Bond attorneys.”
Based on the lawsuit Raines had formerly incurred critique to be taking part in that which was termed lending that is“predatory practices into the set-up of pay day loan businesses which presumably place him at chances utilizing the leadership of this Oglala Sioux Tribe.
Next Up: Hunter Biden, son of previous vice president Joe Biden, implicated in Wakpamni Lake scandal. Later within the show: an answer from Wakpamni Lake Community Corporation.