HSBC

1995 -1999: Clinton donors and a Russian mafia kingpin, launder money, bilk investors and make a fortune, all while Clinton is president

Paul Reynolds (Credit Fred Lum/The Globe)

(…) “Clintons’ buddies from Canaccord Capital (Paul Reynolds) and GMP Securities (Eugene McBurney) have donated to both the Clinton Foundation and the Clinton Giustra Enterprise Partnership. But, what would really get everyone’s attention would be the YBM Magnex scandal.  Not familiar? Here, let me help.

In the late 1990s, both Eugene McBurney (GMP Securities) and Canaccord Capital became involved with Russian mafia kingpin Semion Mogilevich’s company, YBM Magnex. According to GMP Securities’ documents they “acted as underwriters for, provided research coverage of, and traded in securities of, YBM Magnex International Inc” between May, 1995 through May, 1998.  Canaccord Capital was another underwriter as was the “European arm of HSBC Asset Management,” James Capel.  

GMP founder Gene McBurney headlines the 2017 Subscriber Investment Summit in Toronto on March 4, 2017. (Credit: The Globe)

YBM Magnex which was actually established in the United States and located in Newtown, Pennsylvania was eventually shut down by U.S. authorities and pulled off the Toronto stock exchange. However, in the four years that the company was in business they went from “an obscure penny stock to a multinational worth nearly $1 billion.”  It was further reported that that their “net sales quadrupled, net income jumped nine-fold, earnings rose by a factor of five, and the future looked just as promising,”

If you want to run with the YBM Magnex story you could also throw in Semion Mogilevich’s ties to the Bank of New York money laundering scandal back in 1999.  That was a doozy, you have to admit. And not only was Mogilevich tied to the scandal, so was Mikhail Khodorkovsky, the Russian oligarch who was once worth $15 billion, was associated with Soros, and was represented by Kim Schmitz’s current attorney.  You see, Mogilevich took control of Inkombank in 1994, but the bank (along with its attorney, former Federal Prosecutor Arthur Christy) was sued by its stockholders in 1999 for defrauding investors and laundering their money.  At the same time, it was coming out in the wash that Mogilevich and Khodorkovsky had laundered over $7 billion (yes, billion) through the Bank of New York.

Sernion Mogilevich (Credit: public domain)

All of the accounts linked to the $7 billion had one common denominator: Benex.  Benex was a company set up by Russian Peter Berlin who’s wife was the vice president of the Bank of New York. Benex would later be “publicly listed as a customer of YBM Magnex International” and remember Boris Berezevsky that I talked about earlier, the guy working with both Soros and the Chechen warlords?  Yeah, that guy.  He owned part of Sobinbank and Flamingo, both of which were used as fronts for Peter Berlin’s companies.  The other cozy relationship in all of this was that Mikhail Khodorkovsky’s partner at Bank Menatep (which Khodorkosvsky owned), Kostantin Kagalovsky, was also married to Bank of New York employee, Natasha Gurfikel Kagalovsky.

During this time period Bill Clinton was still in office, his buddies who would later become major donors and involved in the uranium deal were in bed with a Russian mafia kingpin and making tons of money off of that by lying to investors while at the same time that very same Russia mafia figure and Soros’ friend, Mikhail Khodorkovsky, were money laundering billions of dollars through The Bank of New York. Huh.” (Read more: Jimmy’s Llama, 7/08/2017)