Sanford business owner Jack Hutchings, and his Orlando Attorney David H. Simmons could be involved in some of the most recent fraud allegations involving Morgan Stanley. An Orlando Federal Civil RICO lawsuit names Morgan Stanley and others.
Orlando, FL, May 19, 2010 — Robert Knowles AIPress reporting:
A federal civil RICO lawsuit in the middle district of Florida may give insight into what authorities could be investigating surround Morgan Stanley fraud. The Federal lawsuit, and a companion suit out of Seminole County alleges Morgan Stanley gave covet IPO shares to prostitutes for business man James L. Hutchings (Worth Estimated 400 million) to hide the payoffs from Hutchings wife Barbara Jean. The original suit was filed by Hutchings in Seminole county after his 20 year partner, and once Orlando Nightclub/Bar owner James Adamczyk became aware of Hutchings fraudulent business practices. Adamczyk’s Civil Rico suit in federal court, and his counter suit in Seminole County Court allege Morgan Stanley used IPO’s (Initial Public Offerings) as payoff’s to some ultra high net worth individuals. The allegations in the law suit state that Morgan Stanley executives would issue IPO’s to individuals, and Adamczyk as payment for coordinating luxurious trips to Costa Rica to attend wild parties.
Adamczyk alleges in his lawsuits, that in 2007 he and Hutchings had a dispute in Costa Rica over Hutchings becoming an alleged pedophile with girls as young as 13 in the third world country. Hutchings, displeased that Adamczyk would not partake in his transportation of minors from Columbia to Costa Rica, told his close friends and executives at Morgan Stanley to fraudulently shut down Adamczyk’s Morgan Stanley account and liquidate all of his assets and stocks over to Hutchings. Because Hutchings is one of Morgan Stanley’s biggest clients they go on to violate all United States banking laws, and do as Hutchings requests. Thus, costing Adamczyk millions of dollars and leaving him with no options in a third world country. Hutchings then holding all of Adamczyk’s assets, and in collusion with Morgan Stanley force Adamczyk to sign a non-disparaging settlement agreement in Costa Rica for money to leave the country.
Other defendants in Adamczyk’s colorful Federal suit, point out that Hutchings had fraudulent business practices with General Motors and Chrysler before the federal bailout. Alleging that executives from these companies all partook in attending wild parties in Costa Rica. Adamczyk also attaches emails from executives requesting that he make sure some charges are covered up on their corporate credit cards. Hutchings, who made a fortune in the automotive industry, currently uses former State Representative David Simmons (R) as his attorney. David Simmons, who also will be running for Senate in 2010 (www.dsimmonsforsenate.com), is no stranger to protecting corruption as he once represented convicted felon (and another alleged pedophile) Lou Pearlman. Lou Pearlman if you don’t remember is the once Church Street owner, and CEO of Transcontinental. He is serving a 25 year sentence for a ponzi scheme to defraud elderly investors out of their life savings. Although no charges where brought against David Simmons in the Lou Pearlman scandal, he is facing allegations of collusion in the Hutchings scandal.
Other documents accompanying Adamczyk’s federal lawsuit include Hutchings CFO Bill Hood forging w-2 forms for non-employees, so that Hutchings family & friends could escape having to pay large medical bills. Additional emails to Adamczyk while employed with Hutchings show that Hutchings is running an all cash helicopter business in Costa Rica. Hutchings and his CFO falsify the flight logs, and still write off everything to the U.S. Government.
It’s an on going investigation, and Federal, State and IRS investigators have been sorting through the thousands of pages of documents in these cases. The Morgan Stanley executives that perpetrated the fraud are named in Adamczyk’s lawsuits. Thomas Cleary and Robert Whittington now are former Morgan Stanley executives since the lawsuit was filed, and have strategically moved to another alleged corrupt organization UBS. UBS if you are not aware is the Swiss banking giant that recently was found guilty of fraud and ordered to pay the IRS a $770 million dollar fine. Morgan Stanley, and Hutchings fines are unknown at the moment, but we can see the newspaper headline when the U.S. Government if and when hammers these guys – It will read “IPO’s for HO’s”
Read the original Morgan Stanley article HERE ( http://online.wsj.com/article/SB10001424052748704250104575238680672738838.html?mod=WSJ_newsreel_business )
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Robert Knowles
ItsMyOrlando.com
Orlando, FL
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