Hail Obama President-elect Obama.
We have met the enemy and once again it's an Injun.

There is no mortgage crisis - it's just Indian fraud. Another Injun financial wizard makes the big time and makes INDIA SHINE.

Forget about Sonal Shah and Neel Kashkari. If you are wondering how your 401K became a 201K, read the following story about how another Indian financial wizard hit the big times.

http://www.washingtonpost.com/wp-dyn/content/article/2008/11/13/AR200811 1302145.html

Va. Bollywood Investor Admits $33 Million Fraud

Vijay K. Taneja invested millions of his mortgage proceeds in Indian films and theatrical productions.

By Jerry Markon
Washington Post Staff Writer
Friday, November 14, 2008; Page A01

He was an icon in the local Indian community, a flashy movie producer who invested millions in Bollywood films and brought Indian musical acts to the Washington area.

Vijay K. Taneja had an aura about him, a celebrity image that made people trust him, according to people who know the Fairfax County businessman. Problem was, Taneja admitted in federal court yesterday, his entertainment ventures were financed with money obtained through an extensive mortgage fraud scheme.

Taneja pleaded guilty in U.S. District Court in Alexandria to a fraud enterprise that cost banks at least $33 million, the largest mortgage fraud case in Virginia in almost 20 years and among the largest nationally. Prosecutors said he created bogus mortgage loans, sold legitimate loans to more than one buyer and pocketed the proceeds of refinancings.

"That's an incredible amount of loss," said Adam Lee, supervisory special agent for financial crimes in the FBI's Washington field office, which operates one of 42 new bureau task forces nationwide focusing on escalating mortgage fraud.

Taneja, 47, of Fairfax City entered his plea to one count of conspiracy to commit money laundering in a soft, hesitant voice. U.S. District Judge Claude M. Hilton asked him no specific questions about the case, and he declined to comment afterward. His attorney, Robert P. Trout, declined to comment as well. Taneja faces up to 20 years in prison when he is sentenced Jan. 30.

Prosecutors told the judge that Taneja invested millions of his mortgage proceeds in Indian films and theatrical productions through one of his companies, Elite Entertainment, and that they are still trying to untangle the financial web. "He has millions of dollars unaccounted for," Assistant U.S. Attorney Stephen Learned said as he asked Hilton to order Taneja to be electronically monitored to ensure that he doesn't flee before sentencing. "There's so much money, and it's difficult to figure out where it all went."

Trout emphasized that Taneja, a U.S. citizen, has cooperated extensively with the government, and Hilton ordered him released on a personal recognizance bond.

Members of the Washington region's tightly knit Indian community said Taneja was revered by many because of his show business connections and insistence on doing business mainly with others in the community.


He brought renowned Indian acts to the United States and also invested in the entertainment industry in India.

"He knew people in the film and music industry, and he produced these shows," said Anuj Sud, a Maryland lawyer who said several of his relatives were victimized by Taneja. "People see this guy out there involved in Bollywood and the attraction is, 'Hey, this guy is popular.' "

David Lamb, a Washington lawyer who represents several of Taneja's victims, said that "everyone looked up to him. He had all this big flashy money, and they thought he was a star. He could get them to do things for him."

Although the $33 million loss was borne by four financial institutions -- First Tennessee Bank, Franklin Bank, Wells Fargo Bank and EMC Mortgage Corp. -- prosecutors said numerous area residents were victimized as well. They said Taneja prepared some legitimate mortgages, mostly for members of the Indian community, but would dupe people into signing dual sets of loan documents. He would then create a fictitious mortgage based on the second set of documents and sell the phony loan to an investor, which would leave the victims with mortgages they didn't know they had.

One area business owner said her credit was ruined because she obtained several mortgages with Taneja and only later realized that he had taken out several more in her name. "When I went to refinance my house, they told me I had $6 million in mortgages," said the woman, who declined to be identified.

Court documents say Taneja's main company, Financial Mortgage Inc., also did refinancings and defrauded banks by not paying off the first mortgages. For example, a customer would borrow $500,000, intending to receive $100,000 as cash and use $400,000 to pay off his first mortgage. Taneja would give the customer the $100,000 and pocket the $400,000. The bank that held the first mortgage wouldn't notice because it didn't know there had been a refinancing.

Taneja also admitted that he would take out a mortgage loan and then sell that loan on the secondary mortgage market to more than one investor, pocketing the proceeds. Federal investigators said the banks were slow to catch on to the schemes because they were eager to lend money in the soaring housing market.

"The banks were not doing due diligence," said one law enforcement official, who declined to be identified because he was not authorized to speak about the case. "They saw mortgages as a good source of revenue, and he took advantage of that mentality. He took advantage of the height of the real estate boom."

Federal officials said Taneja's scheme escalated as the nation's economy spiraled downward. He was also a real estate developer -- his four companies filed for bankruptcy protection this year -- and officials said he booked more phony mortgages as housing prices fell.

Agent Lee said that mortgage fraud is "an absolute top priority" for the FBI and that investigators are focusing on Northern Virginia because of a high rate of foreclosures. A spokesman for the Internal Revenue Service, which also investigated Taneja, said that agency is zeroing in on mortgage fraud as well.

Federal mortgage fraud prosecutions have more than tripled in the past two years, according to Justice Department statistics, and experts said even more cases are coming as banks take bad loans off their books.

"That's when we'll see why these loans went so bad, and there will be criminal investigations," said Curt Novy, a California broker who testifies as an expert witness in mortgage fraud cases.

Courtesy, The Washington Post - Friday November 14, 2008

The Muslim Protagonist and the Past Three Years There is no mortgage crisis - it's just Indian fraud. Another Injun financial wizard makes the big time and makes INDIA SHINE.

Bollywood Movies financed by mortgage fraud.

Forget about Sonal Shah and Neel Kashkari. If you are wondering how your 401K became a 201K, read the following story about how another Indian financial wizard hit the big times.

http://www.washingtonpost.com/wp-dyn/content/article/2008/11/13/AR200811 1302145.html

Va. Bollywood Investor Admits $33 Million Fraud

Vijay K. Taneja invested millions of his mortgage proceeds in Indian films and theatrical productions.

By Jerry Markon
Washington Post Staff Writer
Friday, November 14, 2008; Page A01

He was an icon in the local Indian community, a flashy movie producer who invested millions in Bollywood films and brought Indian musical acts to the Washington area.

Vijay K. Taneja had an aura about him, a celebrity image that made people trust him, according to people who know the Fairfax County businessman. Problem was, Taneja admitted in federal court yesterday, his entertainment ventures were financed with money obtained through an extensive mortgage fraud scheme.

Taneja pleaded guilty in U.S. District Court in Alexandria to a fraud enterprise that cost banks at least $33 million, the largest mortgage fraud case in Virginia in almost 20 years and among the largest nationally. Prosecutors said he created bogus mortgage loans, sold legitimate loans to more than one buyer and pocketed the proceeds of refinancings.

"That's an incredible amount of loss," said Adam Lee, supervisory special agent for financial crimes in the FBI's Washington field office, which operates one of 42 new bureau task forces nationwide focusing on escalating mortgage fraud.

Taneja, 47, of Fairfax City entered his plea to one count of conspiracy to commit money laundering in a soft, hesitant voice. U.S. District Judge Claude M. Hilton asked him no specific questions about the case, and he declined to comment afterward. His attorney, Robert P. Trout, declined to comment as well. Taneja faces up to 20 years in prison when he is sentenced Jan. 30.

Prosecutors told the judge that Taneja invested millions of his mortgage proceeds in Indian films and theatrical productions through one of his companies, Elite Entertainment, and that they are still trying to untangle the financial web. "He has millions of dollars unaccounted for," Assistant U.S. Attorney Stephen Learned said as he asked Hilton to order Taneja to be electronically monitored to ensure that he doesn't flee before sentencing. "There's so much money, and it's difficult to figure out where it all went."

Trout emphasized that Taneja, a U.S. citizen, has cooperated extensively with the government, and Hilton ordered him released on a personal recognizance bond.

Members of the Washington region's tightly knit Indian community said Taneja was revered by many because of his show business connections and insistence on doing business mainly with others in the community.


He brought renowned Indian acts to the United States and also invested in the entertainment industry in India.

"He knew people in the film and music industry, and he produced these shows," said Anuj Sud, a Maryland lawyer who said several of his relatives were victimized by Taneja. "People see this guy out there involved in Bollywood and the attraction is, 'Hey, this guy is popular.' "

David Lamb, a Washington lawyer who represents several of Taneja's victims, said that "everyone looked up to him. He had all this big flashy money, and they thought he was a star. He could get them to do things for him."

Although the $33 million loss was borne by four financial institutions -- First Tennessee Bank, Franklin Bank, Wells Fargo Bank and EMC Mortgage Corp. -- prosecutors said numerous area residents were victimized as well. They said Taneja prepared some legitimate mortgages, mostly for members of the Indian community, but would dupe people into signing dual sets of loan documents. He would then create a fictitious mortgage based on the second set of documents and sell the phony loan to an investor, which would leave the victims with mortgages they didn't know they had.

One area business owner said her credit was ruined because she obtained several mortgages with Taneja and only later realized that he had taken out several more in her name. "When I went to refinance my house, they told me I had $6 million in mortgages," said the woman, who declined to be identified.

Court documents say Taneja's main company, Financial Mortgage Inc., also did refinancings and defrauded banks by not paying off the first mortgages. For example, a customer would borrow $500,000, intending to receive $100,000 as cash and use $400,000 to pay off his first mortgage. Taneja would give the customer the $100,000 and pocket the $400,000. The bank that held the first mortgage wouldn't notice because it didn't know there had been a refinancing.

Taneja also admitted that he would take out a mortgage loan and then sell that loan on the secondary mortgage market to more than one investor, pocketing the proceeds. Federal investigators said the banks were slow to catch on to the schemes because they were eager to lend money in the soaring housing market.

"The banks were not doing due diligence," said one law enforcement official, who declined to be identified because he was not authorized to speak about the case. "They saw mortgages as a good source of revenue, and he took advantage of that mentality. He took advantage of the height of the real estate boom."

Federal officials said Taneja's scheme escalated as the nation's economy spiraled downward. He was also a real estate developer -- his four companies filed for bankruptcy protection this year -- and officials said he booked more phony mortgages as housing prices fell.

Agent Lee said that mortgage fraud is "an absolute top priority" for the FBI and that investigators are focusing on Northern Virginia because of a high rate of foreclosures. A spokesman for the Internal Revenue Service, which also investigated Taneja, said that agency is zeroing in on mortgage fraud as well.

Federal mortgage fraud prosecutions have more than tripled in the past two years, according to Justice Department statistics, and experts said even more cases are coming as banks take bad loans off their books.

"That's when we'll see why these loans went so bad, and there will be criminal investigations," said Curt Novy, a California broker who testifies as an expert witness in mortgage fraud cases.

Courtesy, The Washington Post - Friday November 14, 2008

Sonal Shah to Help Divide Obama\'s Victory Spoils There is no mortgage crisis - it's just Indian fraud. Another Injun financial wizard makes the big time and makes INDIA SHINE.

Forget about Sonal Shah and Neel Kashkari. If you are wondering how your 401K became a 201K, read the following story about how another Indian financial wizard hit the big times.

http://www.washingtonpost.com/wp-dyn/content/article/2008/11/13/AR200811 1302145.html

Va. Bollywood Investor Admits $33 Million Fraud

Vijay K. Taneja invested millions of his mortgage proceeds in Indian films and theatrical productions.

By Jerry Markon
Washington Post Staff Writer
Friday, November 14, 2008; Page A01

He was an icon in the local Indian community, a flashy movie producer who invested millions in Bollywood films and brought Indian musical acts to the Washington area.

Vijay K. Taneja had an aura about him, a celebrity image that made people trust him, according to people who know the Fairfax County businessman. Problem was, Taneja admitted in federal court yesterday, his entertainment ventures were financed with money obtained through an extensive mortgage fraud scheme.

Taneja pleaded guilty in U.S. District Court in Alexandria to a fraud enterprise that cost banks at least $33 million, the largest mortgage fraud case in Virginia in almost 20 years and among the largest nationally. Prosecutors said he created bogus mortgage loans, sold legitimate loans to more than one buyer and pocketed the proceeds of refinancings.

"That's an incredible amount of loss," said Adam Lee, supervisory special agent for financial crimes in the FBI's Washington field office, which operates one of 42 new bureau task forces nationwide focusing on escalating mortgage fraud.

Taneja, 47, of Fairfax City entered his plea to one count of conspiracy to commit money laundering in a soft, hesitant voice. U.S. District Judge Claude M. Hilton asked him no specific questions about the case, and he declined to comment afterward. His attorney, Robert P. Trout, declined to comment as well. Taneja faces up to 20 years in prison when he is sentenced Jan. 30.

Prosecutors told the judge that Taneja invested millions of his mortgage proceeds in Indian films and theatrical productions through one of his companies, Elite Entertainment, and that they are still trying to untangle the financial web. "He has millions of dollars unaccounted for," Assistant U.S. Attorney Stephen Learned said as he asked Hilton to order Taneja to be electronically monitored to ensure that he doesn't flee before sentencing. "There's so much money, and it's difficult to figure out where it all went."

Trout emphasized that Taneja, a U.S. citizen, has cooperated extensively with the government, and Hilton ordered him released on a personal recognizance bond.

Members of the Washington region's tightly knit Indian community said Taneja was revered by many because of his show business connections and insistence on doing business mainly with others in the community.


He brought renowned Indian acts to the United States and also invested in the entertainment industry in India.

"He knew people in the film and music industry, and he produced these shows," said Anuj Sud, a Maryland lawyer who said several of his relatives were victimized by Taneja. "People see this guy out there involved in Bollywood and the attraction is, 'Hey, this guy is popular.' "

David Lamb, a Washington lawyer who represents several of Taneja's victims, said that "everyone looked up to him. He had all this big flashy money, and they thought he was a star. He could get them to do things for him."

Although the $33 million loss was borne by four financial institutions -- First Tennessee Bank, Franklin Bank, Wells Fargo Bank and EMC Mortgage Corp. -- prosecutors said numerous area residents were victimized as well. They said Taneja prepared some legitimate mortgages, mostly for members of the Indian community, but would dupe people into signing dual sets of loan documents. He would then create a fictitious mortgage based on the second set of documents and sell the phony loan to an investor, which would leave the victims with mortgages they didn't know they had.

One area business owner said her credit was ruined because she obtained several mortgages with Taneja and only later realized that he had taken out several more in her name. "When I went to refinance my house, they told me I had $6 million in mortgages," said the woman, who declined to be identified.

Court documents say Taneja's main company, Financial Mortgage Inc., also did refinancings and defrauded banks by not paying off the first mortgages. For example, a customer would borrow $500,000, intending to receive $100,000 as cash and use $400,000 to pay off his first mortgage. Taneja would give the customer the $100,000 and pocket the $400,000. The bank that held the first mortgage wouldn't notice because it didn't know there had been a refinancing.

Taneja also admitted that he would take out a mortgage loan and then sell that loan on the secondary mortgage market to more than one investor, pocketing the proceeds. Federal investigators said the banks were slow to catch on to the schemes because they were eager to lend money in the soaring housing market.

"The banks were not doing due diligence," said one law enforcement official, who declined to be identified because he was not authorized to speak about the case. "They saw mortgages as a good source of revenue, and he took advantage of that mentality. He took advantage of the height of the real estate boom."

Federal officials said Taneja's scheme escalated as the nation's economy spiraled downward. He was also a real estate developer -- his four companies filed for bankruptcy protection this year -- and officials said he booked more phony mortgages as housing prices fell.

Agent Lee said that mortgage fraud is "an absolute top priority" for the FBI and that investigators are focusing on Northern Virginia because of a high rate of foreclosures. A spokesman for the Internal Revenue Service, which also investigated Taneja, said that agency is zeroing in on mortgage fraud as well.

Federal mortgage fraud prosecutions have more than tripled in the past two years, according to Justice Department statistics, and experts said even more cases are coming as banks take bad loans off their books.

"That's when we'll see why these loans went so bad, and there will be criminal investigations," said Curt Novy, a California broker who testifies as an expert witness in mortgage fraud cases.

Courtesy, The Washington Post - Friday November 14, 2008

Sonal Shah to Help Divide Obama\'s Victory Spoils Jang #79 {"Gujjus and Indians (akhand bharat including pakistan) better get their house in order else the crusader will be fishing in the arabian sea soon (with help from dispossessed mughals) "}

Jang,
I don't know if you are referring to dispossessed mughals as Afghans or Central Asian Uzbeks et al. :)
As I have said many times, who cares about the crusaders when our own jihadis are worse? Who cares about Mountbatten's sharp white suit when Gandhiji is running around in a diaper? Who cares about the Gora Sahib when MAJ is the one kissing his ass?

Sonal Shah to Help Divide Obama\'s Victory Spoils shankar #54 {"I despise the VHP/RSS yada yada pigs just as much as I despise the Taliban. Please understand an increased "Indian influence" doesn't automatically coincide with increase "anti-Muslim" tilt. Ani-Pak, maybe, but not anti-Muslim"}

Shankar Sahib,
I applaud your wisdom and courage in calling a pig a pig. I join you in stating that the Tally Ban, Al Kayda, JUI, JI, JUP, LeT, and other similar violent, fanatic, murderous pigs are just as oinky as the BJP/RSS/VHP/BD/JS/SS/SP/MNS pigs. The only thing that they all have in common is that they all love to kill Muslims.

Sonal Shah to Help Divide Obama\'s Victory Spoils DM Sahib #75 {"Do you want to see the Modis come to power in India so that India would get a bad press in the US? Talk of cutting one's nose to spite someone."}

DM Sahib,
My nose is quite safe where I am. Thank you, sir. The noses (and other body parts) of Indian Muslims were not that safe in Gujarat when Modi and the BJP/RSS/VHP/BD/JS/SS/SP goons perpetrated their acts of murder, arson, rape, and mutilation. Of course I don't want these violent butchers to come to power, but then I don't have a vote in India. It's the right-wing Chowkies who keep predicting that the BJP/RSS/VHP/BD/JS/SS/SP monster is coming back. I think you understand my motives - I just want the world to know about the facade of Indian "tolerance" and BJP's SHINING INDIA.

Sonal Shah to Help Divide Obama\'s Victory Spoils Personally, I don't give a damn if a Gujju gets to work in the Obama administration. I just want to create enough visibility into the sinister and violent world of right-wing Hindutva organizations.

The reason for this important scrutiny is that when the BJP/RSS/VHP/BD/JS/SS/SP goons come to power in India, the Obama administration and the US press should be better informed. The US government, press, and people should know about the massacre of thousands of innocent human beings in Gujarat during the 2002 state-sponsored murders, rapes, mutilations, and arson led by the BJP government of Modi.

Therefore, I support the ongoing expose of Sonal Shah's association with VHP-A, the US affiliate of Vishva Hindu Prashad (VHP), which is one of the murderous elements of the BJP/RSS/VHP/BD/JS/SS/SP monster in India.

Sincerely,
Salim Chauhan

It’s Not the Economy, Stupid! {"The op-ed by Tom Friedman declared the end of the American civil war that “started� in 1861 in Virginia, the same place that last night cemented Obama’s victory."}

Feroz Sahib,
Very uplifting and "capturing the moment of the ecstasy" type of expressions from you. Congratulations on truly a great achievement - yes your article AND this fantastic election.

I have been noticing for some time that the red states seem to be the same ones from the Stars and Bars and their bleeding effect on the border. Thank God - VA, FL, and NC broke the mould (or should I say mold?)

Yes we can, Obama! {" No wonder, the whole world is rejoicing, literally, at Obama’s victory. I now realise that I had not put my pen to paper for nothing at that time. Much has happened and changed from the late 1990s to the present day but the essentials of human existence and prosperity will never change, and hoping for the best is one aspect of it."}

Naqvi Sahib,
Very moving article and written with utmost sincerity and idealism. No, you were neither wrong nor ahead of your time then - you, and many of us, have been beaten over and over again into submission. Yes, we have become accustomed to up being down, right being wrong, and day being night. We are all awaking from a long, dismal, violent nightmare that has lasted eight long years. Welcome back.

Singur and the Small Entrepreneur in India #22 ahmedmadani {"If Parthaab does not want Tata why not ask him to come to Karachi and take over Pakistan Steel mill for start followed by Nano Plant in Hub Industrial estate"}

Madani Sahib,
While you have a great idea for producing the Nano in Karachi, I must disagree with the actual implementation details. You see, the Nano is a miniature vehicle - you can consider it a lawn mower with small seats to envelope the scrawny posteriors of swarthy aborigines. Most of the skilled workers in Karachi are gigantic Pathans with big clumsy hands that cannot possibly squeeze into the small, narrow, and congested areas to tighten the little screws. That is the main reason why Tata considered producing this toy in Calcutta. Sorry!

Sincerely,
Salim Ahmed Chauhan

New US President Must Review Pakistan Policy Hamidumdum Sahib,
Pakiturk is none other than yours truly - that is Salim Chauhan.

New US President Must Review Pakistan Policy hamidumdum #14 {" if that is too expensive, we might be able to rent some sikh mercenaries ...... "}

Hamidumdum Sahib,
I would vote to give the contract to the Sikh missionaries. They have been there before and know how to assume the familiar position. Maharaja Ranjit Singh holds the record for the fastest journey from Kabul to Lahore.

New US President Must Review Pakistan Policy Hamidumdum #16 {"i have also started banging my forehead against the wall to mark myself as a true believer .....it hurts!"}

Hamidumdum Sahib,
It's a good thing that you started from the top and let your frustrations trickle down. LOL

Obama is Better for Jinnah\'s Pakistan #43 ahmedmadani {"Black women and their mothers get babies at same times few times.Strength of brown race lies in woman , her mother and grandmother get child at same time at least once. USA has democracy and democracy number counts and number is decided by race how many children woman gets and this habit becomes character and destiny"}

Madani Sahib,
You are always amazing. I love the way you bring complicated situations into such simple yet uncannily accurate deductions. You are definitely my role model when it comes to understanding complex international issues. Tell me, my friend, do you offer courses where people like me can learn this wonderful art? Thanks. Salim

Obama is Better for Jinnah\'s Pakistan Anil Sahib,
Of course Istanbul is a marvelous place, but I was thinking more about the sages than the stages. :)
Contracy to popular opinion, I ain't no sage.

Obama is Better for Jinnah\'s Pakistan Anil #40 {"Where do you want me to go to seek more knowledge? Other than S. America and Africa, I think I have covered places quite well. I travel."}

Anil Sahib,
I would suggest Detroit to visit the sage Himdumdum Sahib. But then what your brain will gain, your liver will lose, so please look up Kaal Bhayya for knowledge, wisdom, and speaking in a manner where you can never be wrong. LOL