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A False Claim (whistle-blower) suit has been filed naming the Federal Reserve as defendants. The Federal Reserve (FRBNY and BOG) are accused of hiding a trillion dollars annually using their exclusive handling of records and disbursement of the Treasury security auction accounts.
Those accounts are claimed to have never been subject to independent audit nor have they ever been reported to Congress as required by law.
The Amended Complaint filed in Federal District Court in Kansas City alleges the BOG is operating as a government contractor as defined by the Supreme Court and is not an agency immune from suit. Further, their systemic violation of the law that all profit of the Fed belongs to the government is alleged to negate any claim to government immunity.
Improperly handled funds subject to recovery are statutorily limited to a six year limit. Penalties allow for triple damages.
Those accounts are claimed to have never been subject to independent audit nor have they ever been reported to Congress as required by law.
The Amended Complaint filed in Federal District Court in Kansas City alleges the BOG is operating as a government contractor as defined by the Supreme Court and is not an agency immune from suit. Further, their systemic violation of the law that all profit of the Fed belongs to the government is alleged to negate any claim to government immunity.
Improperly handled funds subject to recovery are statutorily limited to a six year limit. Penalties allow for triple damages.
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