We're not defending the guy, in fact, we applaud and encourage hard hitting investigative journalism. But it seems the last 5 articles on the Hialeah mayor have been the same exact thing.
Meanwhile, here in the City of Miami we have Mayor Corruptalado who among other things, has Phantom Mayor lobbyist Armando Gutierrez running City Hall.
Just by reading the Crespo Gram Report and Investigation Miami, one would think the
Chuckie Rabin just can't get his head out of the Tom Ass.
Makes us wonder what the Herald's not-so-hidden agenda is.
Where's Sarnoff?
ReplyDeleteWhere'e Rabinlado?
ReplyDeleteChuck is too busy smoking, he does not care what Retardado does.
ReplyDeleteJulio Robaina is going to be the County Mayor and he will also be the County Manager. County Commission Meetings? Robaina is going to be sitting at the dais. Front and center.
ReplyDeleteExcess employees? Gone. Excessive pay and benefits? Gone. Welcome to Julio.
Isn't it amusing how the Miami Herald positively spins the story on Julio Robaina and Alex Peneleas about their loans to people (which are above the State of Florida's legal limit ) by printing that they are part of HIALEAH'S SHADOW BANKING SYSTEM.
ReplyDeleteWhat the fuck? I never knew that Hialeah was as powerful as the Federal Government by having its' own Federal Reserve System. Now I understand why Raul Martinez would want to come back to serve as Hialeah mayor (a little sarcasm). Come on People! Robaina and Peneleas are involved in a loansharking scheme and not a single agency is investigating this crime. Instead they are investigating Robaina on his failure to declare the entire amount he received on payments in his personal income taxes. Apparently, he would only declare only half of the interest payment received by check because the other half was received in cash. Total loan interest charge by Robaina to one of his clients was 36%. So he was only declaring 18% of the income.
Florida's avergage interest rates on loans is around 5%. Thus, generally the interest rates that can be charged to people should be in the vicinity of 5%. On-Line Merriam-Webster defines LOANSHARKING as one who lends money to individuals at exorbitant rates of interest. So why aren't they, Robaina and Penelas, being investigated for this alleged crime?
Furthermore, it can also be caimed that both Robaina and Peneles are involved in a conspiracy to commit mortgage, banking or financial fraud. Based on the Herald article, it appears Robaina and Penelas provided loans to individuals, which in turn, those individuals used the money as collateral to secure even a bigger loan from banks. Usually, banks would determine these loans less riskier based on the amount of capital these individuals had on hand.
The whole Robaina story makes absolutely no sense. The borrower/ponzi schemer is claiming that Robaina had a stated rate (on a loan form) and a real rate (the alleged 36%). The stated rate was laid out in a loan document, which Robaina used to sue the ponzi guy. Ponzi guy comes back and says, "look there were 2 rates: the stated and the real rates. I paid the real rate, which makes the loan invalid in Florida. Therefore, I owe nothing. No, I don't have any documentation showing I paid the alleged real rate and I never made any payments directly to Robaina."
ReplyDeleteAnd people actually believe this nonsense? Ponzi man is looking to smear Robaina and to avoid having to pay the debt back. Pure and simple.
By the way, loans between individuals happen all the time and are a very, very common source of funding for business ventures. Unfortuntately for people like Robaina, borrowers often default because new business ventures are inherently risky. This whole story is a yawner.
Anonymous @ 8:31. Maybe you feel that it is a yawner and entitled to your opinion, but I feel otherwise. While I agree every single day personal loans are common, I don't think a 36% interest rate is being applied to it. There are case laws on these types of incidents and prohibited by law.
ReplyDeleteLaws are being broken and it should matter to all of us. This is what separates this Country from the rest of the world. Your attitude consist of the very same feelings shared by those who live in a Banana Republic.
Please read the following article in the Miami New Times. Click on link below.
ReplyDeletehttp://blogs.miaminewtimes.com/riptide/2011/04/wachovia_now_off_the_hook_for.php
The story is about Wachovia agreeing to pay over $160 million dollars for laundering Mexican Drug Cartles' money. Yes, the very same bank Carlos Migoya was Regional Southeast President of.
It is unfathomable he is being considered for the Chief Executive Officer's job at Jackson Health System.
Also involved in the laundering is MagicCity Casinos who also being investigated in the David Rivera financial scandal. Sources have told me there is also a close connection between MagicCity Casinos, David Rivera, lobbyist Manny Prieguez, and Mayor Thomas Regalado.
This has nothing to do with my man Sarnoff!
ReplyDeleteRobina will be arrested by end of summer for tax evasion.
ReplyDeleteCheck out 3 reasons to vote for Robaina: 1) experience 2) wants to cut taxes, create jobs and 3) make Charter Reform a reality. Hello!
ReplyDelete