HODGES AND ASSOCIATES
A PROFESSIONAL LAW CORPORATION
A. CLIFTON HODGES 4 EAST HOLLY STREET
JAMES S. KOSTAS SUITE 202
DONALD W. RICKETTS* PASADENA, CA. 91103
TEL (626) 564-9797
* OF COUNSEL FAX (626) 564-9111
September 22, 2010
VIA FACSIMILE; FED-EX; AND U.S. MAIL (202) 452-3819
Ben S. Bernanke
Chairman of the Board of Governors
Federal Reserve System
20th Street and Constitution Avenue, NW
Washington, DC 20551
Re: World Global Settlements
Dear Mr. Bernanke:
I represent Mr. Lindell H. Bonney, Sr. with respect to collection of certain funds currently being held by the Federal Reserve System; Mr. Bonney has both a personal ownership interest and a fiduciary interest in such funds. I also represent certain other payees of the World Global Settlement funds; each of these payees have exhausted their ability to continue waiting for distribution of the funds to which they are entitled.
We have been able to ascertain that these funds have been utilized, apparently with the approval and consent of the FED, for short term lending/hypothecation cycles which have allowed recovery of substantially more than 3% per day of the principal in addition to the FED transaction fee of 10%; we have now received confirmation that the FED has in fact received payment. These actions are obviously in violation of several Treaty agreements, as well as a plethora of Federal Laws and banking regulations, and expose each participant to both criminal and civil RICO actions.
The purpose of this correspondence is to put you and each member of the Board of Governors on notice of these illegal actions in connection with the continued refusal of the FED to disburse monies due to be paid to Mr. Bonney in his personal and fiduciary capacity. Although we have previously been advised that the funds were available for disbursement, “something” has always been amiss when the scheduled time has arrived. On each such occasion, Mr. Bonney was ultimately advised that the money had, for unexplained reasons, become unavailable.
Please be advised that we intend to hold you and each member of the Board of Governors jointly and severally responsible for a minimum of 10% per day recovery on the entire balance of the funds currently held for distribution to Mr. Bonney in his personal and fiduciary capacity. In the event that you and/or any of the Board of Governor members wish to discuss possible resolution of this issue please contact the undersigned directly; in the event that I fail to hear from anyone I will pursue all available remedies, including immediate disclosure of these defalcations to the media.
Very truly yours,
HODGES AND ASSOCIATES
A. CLIFTON HODGES
Cc: Mr. Lindell H. Bonney, Sr.
Lynwood Maddox, Esq.
Kevin M. Warsh
Elizabeth A. Duke
Daniel K. Tarullo
Comptroller of the Currency
Federal Reserve Bank, Richmond, VA
Federal Reserve Bank, Cleveland, OH