'A wolf in sheeps clothing'




(archive)
9-11-2007

Wells Fargo and ORIX Claim "No Fiduciary Duty" to Investors


www.youtube.com/watch?v=kTbbw8y99K4
(Video 1)


www.youtube.com/watch?v=o8lZzvzYYAQ
(Video 2)

In past cases, Wells Fargo and ORIX have admitted that they DO owe a Fiducary Duty to investors (which is the truth). However, in a desperate attempt to escape recent cases, Wells Fargo and ORIX are now saying the complete opposite -- that they do NOT owe a Fiduciary Duty to investors.

Two days after posting this POTW, I was looking through Henry Bomar's deposition transcript (linked below) when I found that he affirmed their Fiduciary Duty twice! It almost blew my mind! Then again, by now im used to hearing/seeing Wells Fargo and ORIX lies so to me it was "just another" lie, haha..

Four days after posting this POTW, I was looking through the "Just Pay" article where ORIX's CEO James Thompson said "we have an obligation to the certificateholders". I dont think it gets any more clear that Wells Fargo and ORIX executives (and their lawyers) are compulsive liars.

Wells Fargo and ORIX's Motion Claiming "No Fiduciary Duty " (Page 21)
ORIX CEO James Thompson Claims "Obligation to Certificateholders" in "Just Pay" Article
Henry Bomar affirms "Fiduciary Responsibility to Noteholders" twice (Page 15 & 46)
Henry Bomar of ORIX Testifies ORIX has a "Fiduciary Duty" #1
Henry Bomar of ORIX Testifies ORIX has a "Fiduciary Duty" #2

This POTW is followed-up in the 7-1-2008 and 11-18-2008 POTW.




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