Robert Jenkins' partial list of bank misdeeds

Robert Jenkins' partial list of bank misdeeds - UPDATED 8 June 2016

List of “misdeeds” by banks; as @ 8 June 2016

Jenkins’ partial list of banking misdeeds to date: 

• Mis-selling of payment protection insurance
• Mis-selling interest rate swaps
• Mis-selling credit card theft insurance
• Mis-selling of mortgage-backed securities
• Mis-selling of municipal bond investment strategies
• Mis-selling of structured deposit investments 
• Mis-selling of foreign exchange products
• Fraud related to the packaging and selling of mortgage-backed securities that institutions knew to be “toxic waste”
• Misleading statements to investors involving capital-raising rights issue
• Misleading investors in the sale of collateralised debt obligations
• Abusive small business lending practices
• Predatory mortgage practices
• Abusive or in inappropriate foreclosure practices
• Aiding and abetting tax evasion
• Aiding and abetting money laundering for violent drug cartels
• Violations of rogue-regime sanctions
• Manipulation of Euribor
• Manipulation of FX markets
• Manipulation of gold fixing (London)
• Manipulation of commodity markets via metals warehousing practices
• Manipulation of electricity markets (California)
• Manipulation of the swaps market benchmark index (Isdafix)
• Collusion relating to credit default swap market dealing in violation of US anti-trust laws (“settlement” reached with authorities to resolve allegations)
• Filing false statements with the SEC (London Whale)
• Keeping false books and records (London Whale)
• Reporting failures relating to Madoff
• Withholding of critical information from Italian regulators
• Bribing civil service employees in Japan
• Mis-reporting related to Barclays emergency capital raising
• Stealing confidential regulatory information by a banker
• Collusion with Greek authorities to mislead EU policy makers on meeting Euro criteria
• Financial engineering with the aim of moving Italian debt off-balance sheet
• Manipulation of risk models with the aim of minimizing reported Risk Weighted Assets / capital requirements
• Electronic FX trading related market manipulation
• Process and control failures with respect to dealings with the ultra-wealthy/ “politically exposed persons”
• Failure to prevent bribery of African officials
• Peddling complex tax avoidance strategies to corporate clients
• Improperly providing information about a Japanese company to its clients
• Abuses relating to dark pool trading platforms
• Failure to disclose conflict of interests to wealth management clients
• Misleading investors with wrong / incomplete information
• Conspiracy to commit multi-million dollar securities fraud
• Overcharging customers for FX transactions
• Failure to meet the terms of the 2013 Mortgage foreclosure abuses settlement
• Repeated violation of federal laws connected with sourcing securities for client shorting
• Manipulation of Korean stock market
• Unfairly jumping the creditor queue to secure (confiscate?) collateral relating to Lehman
• Publishing research and trading in the shares of a company it was advising
• Other mortgage related abuses including: failing to accurately track payments by borrowers; charging unauthorised fees; and providing false and misleading information in response to complaints by customers
• Use of minority owned non-consolidated subsidiaries to arbitrage capital requirements
• Investment bank analysts altering stock research recommendations to curry favour with companies they are researching
• Use of illegal offshore schemes to avoid paying income tax on bonuses

And currently under investigation…

• Manipulation of precious metals markets (gold/silver/platinum/palladium - Switzerland)
• Manipulation / collusion of the US Treasury Market auction/client sales
• Manipulation of energy markets
• Short changing clients a second time in not paying settlements in full
• Violations connected with emergency fund raisings
• Falsifying customer data and records
• Misleading shareholders ahead of RBS rights issue
• Misleading shareholder information with respect to Lloyds takeover of HBOs
• Conspiracy to force small businesses into bankruptcy to the benefit of the lender
• Insertion of illegal rate floors in Spanish mortgage lending
• Faking customer files to justify predatory foreclosure practices
• Misleading profit and capital statements based on questionable accounting practices
• Bribing (“Improper payments”) officials in connection with license applications in Saudi Arabia
• Hiring sons and daughters of senior officials in return for favours
• Fabricating complaint letters after the fact to justify dismissal of a whistle-blower who raised alarms over possible mis-selling of mutual funds.
• “Mis-informing” (lying) to 4500 people over existence of dormant accounts
• Use of “mirror trades” ($10 billions worth) to circumvent Russian related sanctions
• Overcharging customers who are past due on their credit cards 
• Market rigging of Gilt trading 
• Hiding failed Loans in the commercial real estate portfolio in 2009 and 2010 whilst issuing new stock to repay government bail-out money
• Non transparent and excess charges for FX transfers by major UK banks to small businesses in the UK
• Manipulating shareholdings around dividend payment dates to trigger dishonestly acquired tax reimbursements
• Manipulation of the Australian “bank bill swap rates”
• Manipulation of the government sponsored bond market (supranational, sub-sovereign and government agency debt or “SSA market”)
• Use of secret / undisclosed payments of circa $500mio connected with emergency capital funding
• Knowingly acquiring “dirty debt” (a loan used as part of a multi-million pound embezzlement scheme) and using it to demand compensation from an African government
• Conspiracy with borrower to falsify work estimates totalling $400 million of fraudulent accounts receivable
• Facilitating fraudulent activity by customers via use of import advance payments
• “Spoofing” in trading of US government bonds
• Laundering the proceeds of Petrobras related corruption
• Mis-selling of “lobo” loans to UK Local Councils
• Fraud and criminal mismanagement in connection with account management for the former prime minister of Georgia
• Forcing customers to switch from variable (“tracker”) mortgages into fixed rate mortgages – in a falling / low rate environment
• Mis-selling expensive life insurance products to little old ladies in France
• Facilitating African money laundering on a grand scale
• Misleading Libor submissions with the aim of boosting confidence in the bank’s perceived credit worthiness
• Conspiring to facilitate VAT evasion through manipulative carbon trading transactions
• Knowingly misleading a major investor in a high stakes deal