Southmark organization
also: Southmark Funding
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Related entities (most co-mentioned)
Joseph Grovesperson · 13San Joaquin Savingsorganization · 13Herman Beebeperson · 11Gene Phillipsperson · 5Allied Bankorganization · 5Houstonplace · 4Morris Shankerperson · 4Texascountry · 4San Jacinto Savingsorganization · 4Walter Mischerperson · 3Continental Savingsorganization · 3Mike Adkinsonperson · 2Chicago Tribunebook · 2Dallascountry · 2Lawrence Freemanperson · 2Mafiaorganization · 2Chicagoplace · 1International Telephone and Telegraphorganization · 1Savings and Loan Associationorganization · 1Jack DeVoeperson · 1Shreveportplace · 1MDC Holdingsorganization · 1Vernon Savingsorganization · 1Larry Mizelperson · 1
Claims (11)
Southmark funded
San Joaquin Savings documented
“property investments that were upside down. So San Joaquino had grown rapidly after Southmark bought it in October of 1983, in part because of the brokered deposits it solicited. And again, brokered deposits are people who have millions of …”
▶ The Colonel’s Corner Mafia, CIA & George Bush Part 18 @ 3:04
Southmark financed_via
Herman Beebe documented
“Among the investments was $50 million to purchase Herman Beebe, the mobsters, chain of nursing homes in 1984 and 85, while Beebe was under criminal indictment. They let him continue doing business, even though he was under indictment for do…”
▶ The Colonel’s Corner Mafia, CIA & George Bush Part 18 @ 4:54
Lincoln Savings financed_via
Southmark documented
“As for Lincoln's loan transferred to San Joaquino, the federal examination report stated that San Joaquino does not have any loan files or documents in its possession to support any of these transactions. In other transactions between Linco…”
▶ The Colonel’s Corner Mafia, CIA & George Bush Part 18 @ 13:56
Bernie Souza financed_via
Southmark host_asserted
“who had been in real estate business in Fresno, where he apparently did business with Southmark, which is where Bebe dumped all of the property. That was beyond tubes, among other things, to borrow close to $14 million from Vernon Savings, …”
▶ The Colonel’s Corner-Mafia, CIA & George Bush Part 11 @ 1:13:18
Morris Shanker financed_via
Southmark documented
“St. Louis attorney who owned Las Vegas casinos. He also represented Teamsters head Jimmy Hoffa and was associated with mafia families in Chicago, St. Louis, and Kansas City. Shanker and Beebe were bailed out of problem investments by a bank…”
▶ The Colonel’s Corner The Mafia, CIA&George Bush Part 3 @ 47:16
Southmark secretly_owned
San Akito Savings documented
“So they're using the pension fund money, paying themselves a higher interest than the pension fund. And the pension fund money is what they're using to loan out to all of this crazy garbage. Another savings and loan where Renda had a intere…”
▶ The Colonel’s Corner-The Mafia, CIA & George Bush Part 6 @ 41:48
Pratt Hotel Corporation secretly_owned
Southmark documented
“for deals with BB. Renda had other business ties to Southmark as well. He and a partner were developing a thing called the Palace Hotel and Casino in Puerto Rico. They fell on hard times and the project went into bankruptcy. The Pratt Hotel…”
▶ The Colonel’s Corner-The Mafia, CIA & George Bush Part 6 @ 42:19
Southmark financed_via
Herman Beebe book_quoted
“A mob associate from Chicago, Joseph Groves, G-R-O-S-E, came in to make all of the big loan decisions. Anderson, who was Bebe's partner, said they dealt primarily with Groves in their transactions with Southmark. While Southmark, and rememb…”
▶ The Colonel’s Corner The Mafia, CIA, & George Bush Part Part @ 15:19
Joseph Groves member_of
Southmark book_quoted
“A mob associate from Chicago, Joseph Groves, G-R-O-S-E, came in to make all of the big loan decisions. Anderson, who was Bebe's partner, said they dealt primarily with Groves in their transactions with Southmark. While Southmark, and rememb…”
▶ The Colonel’s Corner The Mafia, CIA, & George Bush Part Part @ 15:19
Southmark laundered_money_for
Morris Shanker host_asserted
“Also entered into some financial transactions in negotiations with the Dallas-based Southmark. Remember, that's the real estate investment firm. And a Houston Savings and Loan subsidiary called San Joaquino Savings. As noted, Southmark was …”
▶ The Colonels Corner Mafia, CIA&Bush Part 5 @ 27:35
Southmark laundered_money_for
Herman Beebe host_asserted
“Also entered into some financial transactions in negotiations with the Dallas-based Southmark. Remember, that's the real estate investment firm. And a Houston Savings and Loan subsidiary called San Joaquino Savings. As noted, Southmark was …”
▶ The Colonels Corner Mafia, CIA&Bush Part 5 @ 27:35
Mentions (35)
▶ 1:01:41
However, Michener, when asked about it, said, guess. I don't know him. Not only did Atkinson use Michener as a reference, Michener's allied bank lent Atkinson $5 million to secure part of the shopping center, while Southmark San Joaquino Sa…
▶ 36:45
I just didn't know where. Perhaps it's a coincidence that Atkinson moved into a house previously owned by the San Joaquino Savings Executive with a San Joaquino mortgage on it close to Bruce Belen, whose latest Houston development was also …
▶ 39:41
Panhandle Coast Investments would assign its rights to a joint venture of DGI and Southmark, meaning the mob. This assignment was made less than a week later and not a moment too soon. The following month, Freeman, who notarized Beauvoir Wa…
▶ 40:10
Southmark had lined up its subsidiary, San Joaquino Savings, to provide the financing on the sale. However, by the next month, the federal regulatory authorities had stopped Southmark from getting any more financing for any deals, including…
▶ 27:35
Also entered into some financial transactions in negotiations with the Dallas-based Southmark. Remember, that's the real estate investment firm. And a Houston Savings and Loan subsidiary called San Joaquino Savings. As noted, Southmark was …
▶ 15:44
After Continental Savings started going downhill, the Allied Bank loan was transferred to San Joaquino Savings in Houston, owned by Southmark, the real estate company in Dallas. When Continental failed in 1988, San Joaquino got stuck with a…
▶ 1:13:18
who had been in real estate business in Fresno, where he apparently did business with Southmark, which is where Bebe dumped all of the property. That was beyond tubes, among other things, to borrow close to $14 million from Vernon Savings, …
▶ 1:01:40
Over the tower, a new buyer appeared, Southmark. The mob-infested real estate investment company ran by Herman Beebe steps up. And Southmark, in the proposed transaction, was a man named Joseph Groves, G-R-O-S-E, that we've already said is …
▶ 1:02:11
That's where Herman Beebe parked all of his real estate. He was also a senior VP of Southmark's Savings and Loan, San Joaquinto Savings. And apparently, unbeknownst to Continental Illinois and the Chicago Press, Gross was from Chicago, wher…
▶ 1:03:40
When asked about the two Florida corporations and the fact that he denied being partners with the two, Gross replied, so. Then when he began questioning Gross about his relationship with the Goleta family, he hung up on him. When the Chicag…
▶ 1:04:09
They will not be our agents. It's all the same group. Although Groves was listed in San Joaquino's corporate records as a senior vice president, he was really the chief loan officer and was essentially determining who got major loans from t…
▶ 1:05:05
of the Dallas Loan Production Office. So he's in charge of who gets loans. The report further stated that Southmark Funding, meaning Joseph Groves, initiates all major loans with the association and subsequent funding. The majority of appra…
▶ 1:05:57
In 1985, Gross was receiving $732,000 in salaries and bonuses from Southmark and San Joaquino compared to the actual guy running San Joaquin Bank was paid $175,000. So he's getting paid like three times, four times as much as the guy he sup…
▶ 2:33
and basically the report that had been written about it, let me grab Stellar up here, and basically it said that the report finally concluded that San Joaquino is an institution which is out of control and at the mercy of Southmark, and Sou…
▶ 3:04
property investments that were upside down. So San Joaquino had grown rapidly after Southmark bought it in October of 1983, in part because of the brokered deposits it solicited. And again, brokered deposits are people who have millions of …
▶ 4:27
San Joaquino failed primarily because of the $1 billion or so in loans and investments that Southmark made through gross, according to the regulators, into bankruptcy filings in the Southmark bankruptcy, who also went bankrupt because most …
▶ 4:54
Among the investments was $50 million to purchase Herman Beebe, the mobsters, chain of nursing homes in 1984 and 85, while Beebe was under criminal indictment. They let him continue doing business, even though he was under indictment for do…
▶ 5:25
According to Dale Anderson, who was Beebe's right-hand man, said that he and Beebe dealt primarily with Gross, G-R-O-S-E, on the details of their transactions with Southmark and San Joaquino. Not only did Southmark deal with Beebe and the l…
▶ 5:48
But testimony before the Nevada Gaming Board revealed that Gross was involved in negotiating a $5 million Southmark loan for the purchase of a Nevada casino by Harry Wood, a reputed organized crime associate from Shreveport, Louisiana, whic…
▶ 6:16
to Schenker's Dunes Hotel and Casino in Las Vegas. Gross also reportedly arranged Las Vegas trips for San Joaquino customers, the elite customers, not you and me. In January 1985, there was a memo to Gross. Southmark chairman Gene Phillips …
▶ 10:05
A 1988 lawsuit filed against McBurney and other Sunbelt insiders state that Gross handled these loans for San Joaquino. On the flip side, Gross received seven loans from Sunbelt totaling $21 million himself. This is money laundering. San Jo…
▶ 11:59
deal that we're going to talk about in a later chapter. Southmark was all lined up for a joint venture with Mike Atkinson with the financing to come from San Joaquino. It was spelled out in a sales contract with Lawrence Freeman's company, …
▶ 13:56
As for Lincoln's loan transferred to San Joaquino, the federal examination report stated that San Joaquino does not have any loan files or documents in its possession to support any of these transactions. In other transactions between Linco…
▶ 14:53
There was a number of savings and a number of loans and sales between San Joaquino and Larry Mizzell's MDC Holdings. San Joaquino made at least four loans to MDC, totaling $14 million. In 86, Southmark was going to sell J.M. Peters Company,…
▶ 23:43
is where the guy that Michener controlled ran the court. So Holmes replaced Archie Bennett as chairman of the Port Authority. Bennett was noted in an earlier chapter as a good friend of Walter Michener's. Bennett had sold his hotel company …
▶ 35:13
another milking job of the American taxpayers. About $35 million of Fales' borrowed money came from ICH Corporation, which is a Kentucky insurance company that at one time tried to buy Southmark, the real estate dumping ground for the mafia…
▶ 47:16
St. Louis attorney who owned Las Vegas casinos. He also represented Teamsters head Jimmy Hoffa and was associated with mafia families in Chicago, St. Louis, and Kansas City. Shanker and Beebe were bailed out of problem investments by a bank…
▶ 41:48
So they're using the pension fund money, paying themselves a higher interest than the pension fund. And the pension fund money is what they're using to loan out to all of this crazy garbage. Another savings and loan where Renda had a intere…
▶ 42:19
for deals with BB. Renda had other business ties to Southmark as well. He and a partner were developing a thing called the Palace Hotel and Casino in Puerto Rico. They fell on hard times and the project went into bankruptcy. The Pratt Hotel…
▶ 12:46
One of the savings and loan stock loans at Allied Bank was to Carol Kelly at Continental Savings. It had a guarantee from Bebe. Nearby San Jacinto Savings, a Houston-based subsidiary of Southmark Corporation, gladly accepted the loan from A…
▶ 13:19
and Gene Phillips. Gene Phillips, this relationship was born out of the biggest personal bankruptcy in South Carolina's history. It took a real estate investment trust, a REIT, in Atlanta called Southmark and transformed it into a $9 billio…
▶ 13:51
was $1.2 billion in a financial arrangement from Michael Milken, the junk mob king. What? In the summer of 1984, when it was clear that the U.S. attorney Joe Cage in Shreveport was going to nail Bebe, who should come to Bebe's financial res…
▶ 14:21
They consummated the deal after Beebe was indicted and convicted of defrauding the Small Business Administration. Then Phillips and his partner, William Friedman, who was the vice president of Southmark, bought Beebe's Bossier Bank and Trus…
▶ 14:51
because the bank was just prior to foreclosure. Now, nobody like Phillips throws away millions of dollars to a known mobster like Beebe, unless he's told to do so. There's evidence to indicate that. In 1983, Southmark bought San Joaquin Sav…
▶ 15:19
A mob associate from Chicago, Joseph Groves, G-R-O-S-E, came in to make all of the big loan decisions. Anderson, who was Bebe's partner, said they dealt primarily with Groves in their transactions with Southmark. While Southmark, and rememb…