CORRUPTION CREEPS
This
site is owned by R. Dale Abshire Texas Insurance license # 1008184. The
information contained on the site has been reviewed without objection by Texas Insurance Commissioner Kent Sullivan and the
Securities and Exchange Commission.
Governor Greg Abbott and his Trash at the TDI have knowingly allowed 900,000 MONY policyholders to pour their retirement
funds and family security down a dry hole!
NAIC announces resignation of Michael Consedine as CEO
3/16/2023
"Fatcats"
use Dai-ichi Life Insurance Company as a litter box to hide stolen property!
January 24, 2024
Director Rohit
Chopra
Consumer Finance Protection Bureau
Dear
Mr. Chopra,
Below is a copy of a Grand Jury letter to
Texas Gov. George W. Bush imploring him to clean up the corruption at the Texas Department of Insurance? According to
the 1994 Florida Department of Insurance, MONY had a surplus deficiency or minus $-748,106,483.
In 1995 I reported the MONY accounting fraud and Ponzi to Governor George W. Bush
and asked for help. I was then ordered to Austin by the Texas Department of Insurance for a meeting with the head of the Fraud
Unit. Ms. Key informed me that they were not happy that I had contacted the Governor and that it better not happen again
if I wanted to continue working in the insurance industry in Texas. She informed me that they had investigated my claims and
found nothing wrong with MONY's financial statements and that I should rely on Coopers & Lybrand's LLP's opinion.
Over the next 2 years, I supplied Governor Bush with CPA reports, NAIC audits, the
Florida investigation, and reports to SEC Chairman Arthur Levitt. Also included was the USDOJ Probation / Settlement
with Coopers & Lybrand LLP over their "Bid Rigging" of government contracts in Arizona.
That brings us to the 2 real estate transactions that Gov. Bush and his fellow Texas Rangers baseball partners had
in early 1998.
1998 COMPLETED ACQUISITIONS
POST OAK CENTRAL.
On February 13, 1998, the Company acquired Post Oak
Central, a three-building Class A office complex located in the West
Loop/Galleria suburban office submarket of Houston, Texas. Built between 1974
and 1981, the office complex contains
approximately 1.3 million net rentable
square feet with three multi-level detached, but connected via covered walkway
or tunnel, above-ground parking structures that accommodate a total of
approximately 4,400 cars. Post Oak Central was
purchased for approximately
$155.3 million.
MONY financial statements Schedule BA-part 1 page 42 lists this property at $310,567,415. MONY illustrated
dividends to policyholders (according to Ct. AG Richard Blumenthal) based on an 11% return. Bush & friends
purchased the property for $155,3m.
AUSTIN
CENTRE. On January 23, 1998, the Company acquired Austin Centre,
a mixed-use property developed in 1986, that includes:
a Class A office building
containing approximately 344,000 net rentable square feet; an attached,
five-level, underground
parking structure that accommodates 588 cars; the
314-room Omni Austin Hotel Property (see "Hospitality Segment"
below); and 61
apartments. The Property is located in the CBD submarket of Austin, Texas, four
blocks from the state
capitol building and was purchased for approximately $96.4
Million.
According to the Texas Comptroller's office, Governor Bush authorized the payment of
$17,045 for Coopers & Lybrand LLP to evaluate the Texas Teachers Retirement Fund's real estate fund and make recommendations. They
recommended the sale of the Austin Centre to the Bush & Friends Crescent REIT group for 96.4m. The Teacher's fund lost
$44m. Mr. Bush's blind trust was managed by the president of Crescent REIT.
Attached
is a copy of the info that I sent to South Carolina Commissioner Mike Wise. He did not respond.
Please do not hesitate to contact me for documentation or clarification.
Respectfully,
R. Dale Abshire
817 946-8097
2606
Twelve Oaks
Colleyville, TX 76034
Aug. 07, 2023
Merrick B. Garland
Attorney General
U.S. Department of Justice
950 Pennsylvania Avenue
NW Washington, DC 20530-0001
Dear Mr. Garland,
The
destruction of the Mutual Life Insurance Company of New York (MONY) is the longest ongoing accounting fraud and Ponzi in American
history. On June 25, 2011, my gonzalesag.com website was accessed by the search string "jack.smith@usdoj.gov pin public integrity section". The
site details the involvement of elected officials and government employees that have been involved in the criminal conspiracy.
I emailed Mr. Smith and provided additional info and never received a response. His name came up in a recent search
of my email files.
Jack Smith is known as
a by-the-book prosecutor and did not just stumble onto my site while surfing the web on his lunch break! He will have a file
and history of how it came to him and what he did with it. On April 4, 2023, I made a FOIA request to MRUFOIA.Requests@usdoj.gov,
for the file. I still don't have the file. Can you ask Christina Butler, acting Chief, of FOIA/PA UNIT to
help move this matter along?
The 900,000 policyholders that have been defrauded
will appreciate your help. Additional info is available at www.pwcsucks.com.
R. Dale Abshire
2606 Twelve Oaks
Colleyville, TX 76034
To: lisa.collier@sao.texas.gov
Sent: Thu, Feb 23, 2023 3:31 am
Subject:
Americas longest accounting fraud and Ponzi
LISA COLLIER
State Auditor
Texas State Auditor's Office
Dear Ms. Collier,
Article 401 of the Texas Insurance Code (TIC) requires an annual audit by an independent certified
public accountant of the financial condition of each insurer licensed to do business in the State of Texas. Through court
records, I discovered that the Mutual Life Insurance Company of New York had been filing fraudulent financial statements in
Texas and that Coopers & Lybrand was not independent. A CPA report by R. Larry Johnson CPA indicates MONY first
started cooking their books in 1982. The report is available on my www.PWCSUCKS.com website.
I also provided information to the TSBPA / William J. Treacy that Coopers & Lybrand and PricewaterhouseCoopers
LLP did not qualify as "Independent Accountants" for MONY. I am enclosing the TSBPA letter below. The Texas
Department of Insurance can't produce an accurate, concise, and properly opined financial statement for 30 to 40 years for
MONY with the full knowledge that policyholders were being defrauded and placed in tax traps that could destroy them financially.
Article 401 is a pretty simple rule that if followed would have kept my children from losing $4,000,000 and the Texas
Teachers Retirement fund from losing $46,000,000.
TDI Commissioner
Cassie Brown should be removed from office and PricewaterhouseCoopers LLP barred from doing business in Texas.
Please do not hesitate to contact me for clarification or documentation. rabshire@aol.com
817 946-8097
Texas Insurance license # 1008184 52
years
Respectfully,
R. Dale Abshire
2606 Twelve
Oaks
Colleyville, TX 76034
Gov./AG
Greg Abbott and AG/Senator John Cornyn sucked up to Governor Bush and covered his MONY transactions!
Governor Bush was
aware of Coopers and Lybrand's involvement in MONY's fraudulent
financial statements and the looting of the company when he authorized the payment of $17,045 for
Coopers & Lybrand to evaluate the Texas Teachers Retirement Fund's real
estate portfolio and make recommendations. He also knew that they were on probation with the USDOJ for bid rigging of government
contracts in Arizona. They recommended the sale of a building in Austin,
TX that had a current value of $143,000,000 to Crescent REIT for $97,000,000. About the same time
Crescent REIT paid $155,000,000 for MONY properties valued on MONY financial
statements at double that amount. Crescent's stock jumped and Mr. Bush's
not so blind trust that was managed by Crescent President John Goff suddenly became profitable.
Mr. Bush then announced his run for the presidency and had his investments placed in T-bills.
MONY FILES FRAUDULENT FINANCIAL STATEMENTS in TEXAS!
BUSH personally
profited from a $155,000,000 real estate deal with MONY after he knew the company's financial statements were false and that
the company was being looted!
April 19, 1998
Governor George
W. Bush
Sent via Fax 512 463-1849
Dear Governor Bush:
I recently obtained information from the
Comptroller's office indicating that your office had approved a number of state contracts to Coopers & Lybrand L.L.P.
As you know, Coopers & Lybrand L.L.P. has for many years acted as independent outside auditor for The Mutual Life Insurance
Company of New York, commonly referred to as MONY. A check of your records will show an "Open Records Act" request
that I made to you on January 13, 1997 that has gone unanswered. You are also aware of my reports of "Suspected Fraud"
to the TDI regarding MONY's false financial statements.
Through an "Open Records Act" request, I have
now obtained the complete investigative file of the TDI Fraud Unit's alleged investigation. Contained in that file were sworn
affidavits of two (2) CPAs, an actuary and a number of former employees which detailed massive fraud and out & out theft
of policyholders funds. Also included was a copy of the "Secret Phantom Stock Plan" and the "Audit" conducted
by the New York Dept. of Insurance that revealed $600,000,000 in illegal transactions. The file also contained information
regarding Coopers & Lybrand L.L.P. acting as the vendor on the sale of a $8,500,000 financial instrument to MONY while
acting as "independent outside auditor" and issuing "unqualified opinions" on financial statements containing
hundreds of millions of dollars in illegal transactions. Considering your comments last year about the Land Commissioner using
poor judgment in giving a convicted felon a job, I would be interested in what precautions were taken to protect Texans when
you granted state contracts to an accounting firm that is on "Probation" for "BID Rigging" in Arizona.
Under the Open Records Act, I request that you supply me with copies of any notices, warnings, advisories or communications
to state agencies or employees relating to Coopers & Lybrand's involvement in the Gov. Fife Symington / Arizona "Bid
Rigging" scandal that resulted in millions of dollars in fines and probation by the USDOJ. I also request a copy of any
and all documents in the care, custody or control of your office that set out the terms and conditions of the probation and
settlement. I also request a copy of any special bonding or special procedures established for dealing with Coopers &
Lybrand L.L.P. Surely, Texas has not allowed a company on probation for criminal activities to have access to sensitive medical
records at the Texas Commission on Alcohol and Drug Abuse or confidential information on investments at the Texas Teachers
Retirement System. There has to have been some safe guard put in place to protect taxpayers funds and I want to see it. Show
me what was done to protect the sanctity of my lottery ticket.
Your previous refusal to answer an Open Records
request for an accurate, concise and complete financial statement for MONY along with your knowledge of the $5,000,000 per
acre land and the TDI refusal to investigate the Home Theaters described in the "Daniel's" affidavit or the $686,000
payment to Senator Hutchison's husband's law firm that someone forgot to disclose on the financial statements filed in Texas,
causes me concern. Under the Open Records Act, I request a copy of any financial transaction in your care, custody or control
between The Mutual Life Insurance Company of New York ( MONY ) and you or your agents. I want to know if you now own any of
the assets that supported my family's insurance policies that have shrunk in value by more than $4,000,000.
Respectfully,
R. Dale Abshire
4316 Pembrooke Pkwy N.
Colleyville, Texas 76034
817
267-2020 Fax 817 267-5055
Wed,
Apr 11, 2018 10:34 am
Reply Andrew Oldham
General Counsel
Office of the Governor
State of Texas
Actions
Rabshire (rabshire@aol.com)To:Andrew.Oldham
Details Slideshow
Commissioner Sullivan and the Senior Staff at the TDI have confirmed Gov. Abbott's part in covering up the
MONY / AXA / PricewaterhouseCoopers Ponzi and swindle of the Texas Teachers Retirement fund. You can find the info at www.PWCSUCKS.com and in Blacklock's email account.
Respectfully,
R. Dale Abshire
During
1998 I provided you, Paul Gavia and AICPA President and CEO Barry Melancon information concerning the lack of independence
by Coopers & Lybrand / PricewaterhouseCoopers LLP on the financial statements of the Mutual Life Insurance Company
of New York, commonly and hereafter referred to as MONY. I also provided the sworn affidavit of CPA R. Larry Johnson detailing
the results of NAIC examinations of MONY's financial statements. You also later received the December 2, 1998 letter
from the Arizona Department of Insurance detailing the non-audit related financial transactions between Coopers & Lybrand
and MONY that ....... according to your own Enforcement Office.... resulted in the loss of "Independence".
You also have the
April 21, 1994 letter from the Florida Office of the Treasurer Bill Nelson to MONY Chairman Michael I. Roth detailing illegal
investments and violations of over 1.3 billion dollars. You may find a copy of this letter on my www.MONYBUSH.com web site along with other information on the www.pwcsucks.com site..
I
also confirmed with TSBPA Enforcement that MONY's financial statements lack of the certification of an "Independent
Auditor" will continue until they are audited by someone other than PricewaterhouseCoopers LLP.
MONY was taken public in 1998 by PricewaterhouseCoopers
LLP with the fraudulent financials and actuarial reports. Five years later PricewaterhouseCoopers LLP stood on both
side of the MONY/AXA sale that resulted in the comingling of assets that in turn caused AXA's financial statements
to be conflicted and lack the proper certification which would later cause the same problem with Protective Life's financials
and possibly the Japanese company that now owns Protective Life.
I have noted that Paris-based AXA aims to raise billions of dollars in the first half of next year by selling
a minority stake in the combined life-insurance and asset-management company in the U.S.
Your failure to adhere to the most basic standards
of conduct as set forth by the AICPA and the TSBPA are astounding! You have knowingly sheltered what is possibly the
longest (35yrs) and largest accounting fraud in American history. Enron and Madoff ............
Please tell me what you plan to do about this matter.
I would like to tell my children what happened to their money.
Respectfully
R.
Dale Abshire
2606 Twelve Oaks
Colleyville,
TX 76034
Texas Attorney General Greg Abbott
PO Box 12548
Austin,
TX 78711-2548
Feb. 14,
2011
Dear Mr. Abbott,
I have noted your office reviewing
the information concerning the AXA/MONY/PwC Ponzi that is contained on the www.TAMUEX.com web site. I have held a Texas insurance license since 1971 and have (as required by Texas law) reported
this to enforcement agencies and elected officials. I was present when State Rep. Lon Burnam's attorney informed him that
serious criminal offenses had occurred and that V&E attorneys Hamel and Sloan should be prosecuted for their part in the
looting of MONY. Mr. Burnam as well as State Senator's Chris Harris and Florence Shapiro could not help policyholders obtain an accurate financial statement for the company. Mr. Bernum said
he couldn't say anything about V&E because they had given him $5,000 because he was on the insurance committee. They like
my State Rep. Vicki Truitt ( featured at www.TEXASTHUGS.com ) had no problem in graciously accepting political contributions form Vinson and Elkins and looking
the other way while 10's of thousands of Texans were duped into buying products that illustrated double digit returns on nonexistent
assets. Just like R. Allan Stanford and Bernie Madoff did because regulators kept kicking it down the road.
You may already be aware of this
matter as I might have copied you when I wrote about Pete Wassdorf's part in this mess. I will enclose part of letter referencing
him and other information. I would appreciate your taking a look at the above referenced web sites and letting me know if
you can help. Thank you in advance for your help. Please feel free to contact me at 817 946-8097 or email rabshire@aol.com.
Respectfully,
R. Dale Abshire
2606 Twelve Oaks Lane
Colleyville, TX 76034
Beginning in 1995 I reported, as mandated
by Article 1.10d of the Texas Insurance Code, suspected fraud in the business of insurance and asked for help for policyholders
to the Texas Department of Insurance and to Governor George W. Bush concerning the fraudulent financial statements of MONY,
the looting of the company and the PONZI insurance contracts that were used to defraud the public. Mr. Pete Wassdorf, who
became General Counsel to Texas AG Greg Abbott, responded on behalf of Governor Bush that they could not help because
it would be inappropriate for the governor of Texas to contact the governor of New York and interfere with the operation of
a New York domiciled company. Apparently Gov. Bush pulled Coopers & Lybrand's short hairs!
To:
chairman <chairman@sec.gov>
Sent: Thu, Jun 4, 2015 1:30 pm
Subject: MONY / AXA Ponzi
Chair
Mary Jo White Securities and Exchange
Dear Ms. White,
Enclosed is additional information
for your investigation. Most likely you will find former Governor George W. Bush's not so blind
trust investments a the heart of Texas' reluctance to take any action over MONY's Ponzi. Mr. Bush was
aware of Coopers and Lybrand's involvement in MONY's fraudulent
financial statements and the looting of the company when he authorized the payment of $17,045 for Coopers
& Lybrand to evaluate the Texas Teachers Retirement Fund's real estate portfolio and make recommendations.
They recommended the sale of a building in Austin, TX that had a current value of $143,000,000
to Crescent REIT for $97,000,000. About the same time Crescent REIT paid $155,000,000 for MONY properties
valued on MONY financial statements at double that amount. Crescent's stock jumped and Mr. Bush's
not so blind trust that was managed by Crescent President John Goff suddenly became profitable. Mr.
Bush then announced his run for the presidency and had his investments placed in T-bills.
Both Governors Perry and Abbott have for many years
known of the massive fraud by PricewaterhouseCoopers, Goldman Sachs, Vinson& Elkins, and AXA and
have refused to take any action. By separate cover I will send you the information on the New York
Department of Insurance and former Governor Pataki.
Please don't hesitate to contact me for additional information or documentation.
R. Dale Abshire
2606 Twelve Oaks Lane
Colleyville, TX 76034
To:
governor <
governor@governor.state.tx.us>; sara.waitt <
sara.waitt@tdi.state.tx.us>; Julia.Rathgeber <
Julia.Rathgeber@tdi.texas.gov>; greg.abbott <
greg.abbott@oag.state.tx.us>
Sent: Thu, Jan 16, 2014 3:25 pm
Subject: Help with TDI MONY/Ponzi
Governor
Rick Perry
Austin, Texas
sent via e-mail
January 16, 2014
Dear Gov. Perry,
Can you help get the Texas Department of Insurance to respond to the enclosed request? You may recall that I sent
you the information about the MONY Ponzi when you were still Lt. Governor. I need to know where to file the almost $2,000,000
claim ( excluding the interest and expenses).
Posted on the http://www.spitzerag/ web site are news articles concerning NY AG Spitzer's investigation of the fraudulent
policies sold by MONY to residents of New York and Connecticut. New York policyholders received return of premium plus 8%
interest on their policies. The same policies were sold in Texas. Texans got nothing and had to pay the fines and settlements
for NY and Ct. Can you see that Texans are treated equally? I would like to have my policies rescinded and the 8% on all premiums
paid just like New Yorkers! Please do not hesitate to contact me at 817 946-8097 or e-mail rabshire@aol.com with any questions or documentation. Your
help will be greatly appreciated.
Respectfully,
R. Dale Abshire
2606 Twelve Oaks Lane
Colleyville,
TX 76034
Sara Waitt
General Counsel
Texas Department of Insurance
Dear Ms. Waitt,
I have not received a response to the enclosed letter to Commissioner Rathgeber that
I sent via email on 12/16/13. Can you verify that she received the request and let me know if the TDI can help? You may contact
me at 817 946 8097 or rabshire@aol.com.
Respectfully,
R.
Dale Abshire
2606 Twelve Oaks Lane
Colleyville, TX 76034
Julia Rathgeber
Commissioner
Texas Department of Insurance
State of Texas
December 16, 2013
Dear
Ms. Rathgeber,
Enclosed is a copy of a fraud report I made to Commissioner Kitzman during 2011 that she refused
to answer. I have held a Texas insurance license since 1971 and have complied with all Texas laws during that time. The Texas
Department of Insurance was a willing participant in creating the fraudulent (Ponzi) contracts that were sold to unsuspecting
citizens by Mutual of New York (MONY). If you would like a detailed report naming individuals both within the TDI as well
as elected officials who personally profited from the fraud let me know. You may also get info from the AG's and Governor's
offices as they have had the information for several years.
Posted on the http://www.spitzerag/ web site are news articles concerning
NY AG Spitzer's investigation of the fraudulent policies sold by MONY to residents of New York and Connecticut. New York policyholders
received return of premium plus 8% interest on their policies. The same policies were sold in Texas. Texans got nothing and
had to pay the fines and settlements for NY and Ct. Can you see that Texans are treated equally? I would like to have my policies
rescinded and the 8% on all premiums paid just like New Yorkers! If this request is
not possible then I would like to make a claim against Texas for the loss. Is this something I would file with you or another
Texas agency? I would appreciate your help in putting an end to this matter. You verification of receipt of this report of
fraud is requested. You may contact me at rabshire@aol.com or 817 946-8097 with questions or documentation.
Respectfully,
R. Dale Abshire
2606 Twelve Oaks Lane
299th District
Court Grand Jury
State of Texas
County of Travis
December 21, 1994
The Honorable George W. Bush
Governor-Elect of Texas
Austin, Texas 78768
Dear Governor-Elect Bush:
We, the Grand Jury for
the July 1994 Term of the 299th District Court, Travis County, are writing to share with you observations and conclusions
reached during a recent inquiry into the Texas Department of Insurance and its handling of criminal insurance fraud matters.
Following many hours of witness testimony ranging from field examiners to upper-level management, and the review of
numerous department records, we have determined that there exists a significant reluctance on the part of Department personnel
to investigate and report fraudulent occurrences in the insurance industry. Such a reluctance constitutes action contrary
to the mandates of Article 1.10D of the Texas Insurance Code, which requires the reporting of all suspected fraud to
authorized governmental entities, including law enforcement.
The April 1990 Special Grand Jury, 147th District
Court, Travis County, Texas issued a written report after completing their investigation of allegations of fraud and other
criminal misconduct within the Texas insurance industry.
Page fourteen of their written report states "In
closing, Your
Honor, we are obliged to offer our negative observations of the State Board of Insurance. During our investigation
we found closed minds, lack of cooperation, a tendency to overlook and wink at blatant misapplication of funds, filing of
false financial statements, and apparent undue influence by outside lobbyists and lawyers,"... "We feel that the
State Board of Insurance has become stagnant, content to sit back and allow the insurance companies to regulate themselves
without proper supervision or control.
Generally, the chain of command at the State Board is such that fraud and
theft is sheltered rather than exposed due to the layers of inert management. We found that the management hesitates to make
decisions and allows companies to be plundered of all assets while they waste time and money trying to find band-aid solutions.
This must cease. All suspected violators should be investigated and prosecuted without delay." (emphasis added)
It is our unanimous conclusion that little progress has been made by the Texas Department of Insurance since 1990. We find
continuing failure to investigate and report fraud at all levels of regulatory administration, lax regulatory oversight, undue
influence from the industry, and political pressure on the regulators. Of great concern to us is the lack of an independent
board or other means of ensuring public accountability.
As you determine priorities for your new administration,
we implore you to make the Texas Department of Insurance, and the Texas insurance industry a high priority. We have reason
to believe that the following statement of the April 1990 Special Grand Jury remains true today:
"We hereby
warn the legislature and citizens of our State that the insurance industry is plagued by egregious conduct amounting to a
breach of trust with policyholders and by bold embezzlement."
The Travis County District Attorney's Insurance
Fraud Unit has been diligent in prosecuting reported insurance fraud and we applaud their efforts. We urge you to consider
the problem of insurance fraud as deserving of attention and action and to convey the public's concerns regarding this matter
to the newly appointed Commissioner of Insurance for the State of Texas.
Respectfully,
Penny Dear, Foreman
Socorro Leos
O. Kay Anderson Thomas G. Martin
Texana Conn Errol Mortland
Kay D. Arezzo Irene Pena-Miller
Hazel Hatch Nelson Poldrack
Jack Kirfman Lorenzo Sweeney
cc: The Honorable Ann Richards
The Honorable
Bob Bullock
The Honorable Pete Laney
The Honorable Judge Jon Wisser
