Welcome bounty hunters! You are about to enter the real world of a corporate criminal--Charles Hurwitz.
Our intention has not been to create a pretty website. We want to give you the raw facts about who Charles Hurwitz is, who his friends and associates are, and what he has done over the last twenty years or so that make us here in the redwood region of Northern California believe that he should be behind bars.
So when you navigate this site, be prepared for some pretty informative but occasionally boring stuff. One of the greatest techniques corporate criminals use is to make their crimes so complicated and so boring that the public and the prosecutors just don't want to deal with it. It's the perfect kind of crime. Too complicated to solve.
And with these too-boring and too-complicated-to-solve crimes, modern-day robber barons are literally destroying the economy of the United States of America. For example. the combined cost to the taxpayers to bail out the savings and loans in the 1980's and 90's was over $400 billion dollars. That means that every man woman and child in this nation paid out $2000 apiece just to bail out the banks.
A lot of folks just don't understand how the S&L debacle could have happened. The reality is that in 1982 the Republican President Ronald Reagan signed a bill passed by the Democrat-controlled Congress that literally legalized bank robbery. That's right, folks, they legalized bank robbery. Too impossible to believe? Every Mafioso, corporate hoodlum and con-man with some cash to invest believed it. That's why they lined up to buy and loot our local S&L's.
When the Congress and the President de-regulated the savings and loans in 1982 that meant these small lending institutions that used to serve homeowners and small businesses with loans were now able to invest their money anywhere in the world and STILL BE INSURED by the taxpayers. So, your little corner S & L could now buy a castle in England, a fleet of Lear jets, art from Paris to decorate their walls and worthless real estate in the desert from their developer friends.
In fact, one of the "items" that one of these S & L bandits, specifically Charles Hurwitz, bought with depositors money was the Pacific Lumber Company in Northern California. "PL" is the world's largest private holder of ancient redwood trees. Trees that grow to be 2000 years old, 15 feet wide and 360 feet tall. PL used to have a policy of no clearcutting. They had a generous employee pension fund. They'd been logging for 118 years and still had trees covering all 180,000 of the forestland in 1985 when Charles Hurwitz took them over. And as soon Hurwitz got his hands on PL, he tripled the logging, looted the pension fund and left Humboldt County, California in turmoil.
Hurwitz laundered the money from his S & L, which was called United Savings Association of Texas (USAT) to buy Pacific Lumber. When the S&L failed in November 1988, as it was sure to do, the taxpayers footed the bill because we insure the banks. "We" means that essentially the takeover of Pacific Lumber was purchased with the public's money. That means that we, the taxpayers own not only the trees, but the entire company, bulldozers, sawmills and all. Why? Because we paid for it when we bailed out Hurwitz's S&L to the tune of $1.6 billion. It was one of the largest failed S&L's in history.
The failure of United Savings Association of Texas (USAT) and the takeover of Pacific Lumber actually involved three people who were convicted and went to prison. They are Michael Milken, the infamous junk-bond broker; Ivan Boesky, the notorious inside trader who made $3,000,000 from the takeover; and Boyd Jeffries, a lesser known broker who worked with the whole stinking gang to rip off the redwoods.
So you see, three people have ALREADY gone to prison for actions involving the crashing of Hurwitz's S & L and the takeover of the redwoods.
But Hurwitz still remains untouched. We aim to fix that.
The governmental body that insures the banks is called the FDIC or the Federal Deposit Insurance Corporation (FDIC). The governmental body that regulates the savings and loans (not the commercial banks) is called the Office of Thrift Supervision (OTS).
Both agencies are currently suing Charles Hurwitz for a combined total of over a billion dollars to reclaim taxpayer money. We are posting these lawsuits in this website.
The United States Congress investigated the takeover back in 1987 and we are still in the process of scanning and uploading those documents to the web.
We have also researched hundreds of articles about Hurwitz's old Board of Directors and information on those old Board members as well as some of their associates are posted on this website.
We've also posted some lawsuits Hurwitz has lost on the environmental front and the world of Wall Street as well. You see, Charles Hurwitz has been sued by almost every single person he has ever done business with. He's even been criminally investigated from time to time.
So as you navigate the site, the trick is to find an area you are interested in. Perhaps you want to go for the jugular and research the failed S & L. Or perhaps you'll prefer to see how Hurwitz's men lied to the Department of Interior and violated the Endangered Species Act. Have you ever noticed how that act is only used to go after the little guys, pitting the small landowner against the environment while the big boys go free.? It's time to change that.
It's been difficult trying to provide a single, coherent theme to this site due to the volume and variety of information. That's why we're offering a $50,000 Reward. Two generous souls have pledged this amount. The work is hard. But we'll be happy to help you in any way we can. This is not a competition. This is a collective effort. Read the reward rules section for more information.