Thursday, May 12, 2005

KATV Owner Likes the Company Perks


Update: Below is the article I should have posted this morning. Thought i did BUT anyway, this story is from Friday, May 6, 2005.

Source: Washington Post On Feb. 4, 2003, John Koloszar, the personal driver and bodyguard for Joe L. Allbritton, drove off the Euro Motorcars lot in Bethesda in a sparkling new, emerald green Mercedes sedan, fully loaded. The S430, with a V-8 engine and all-wheel drive and tan interior, had 12 miles on it. The price tag: $91,444.

According to sources, Koloszar drove Allbritton's new ride to the 17th Street NW headquarters of Riggs Bank and presented the invoice to David Eisner, a manager in accounts payable. Eisner -- a longtime Riggs employee who was accustomed to cutting checks for items purchased by the Allbritton family for the bank -- refused to authorize payment.

Eisner was backed up by bank Chief Financial Officer Steven T. Tamburo: Allbritton was not a bank employee; it wasn't company policy to provide cars for directors, and the automobile had not been bought through normal channels.

Then Koloszar asked the president of the bank, Lawrence I. Hebert, to authorize payment.
Hebert did. And Allbritton had his green Mercedes, paid for by the shareholders of Riggs.
At the time, Allbritton was a board member but not a Riggs employee. He had resigned as chief executive two years earlier, handing over management to his son, Robert, and his longtime business lieutenant, Hebert.

In Allbritton's years at Riggs, even as he began to relinquish control, he often used the bank to pay for expensive items and services from which he and his family benefited, according to sources with direct knowledge and other people familiar with an ongoing Department of Justice investigation into use of the bank's assets. The sources, and vehicle ownership records, also confirmed how payment was obtained for the Mercedes. MORE


This story is from July of last year.
Source: Washington Post The bank is under investigation by federal examiners and law enforcement officials, as well as by at least three congressional committees, for years-long violations of anti-money-laundering rules. Of particular interest is the embassy division, especially transactions in hundreds of accounts associated with Saudi Arabia, Equatorial Guinea and Pinochet.

Two top bank regulators -- the Federal Reserve Board and the Treasury Department's Office of the Comptroller of the Currency -- recently began a targeted review of Joe Allbritton's activities at the bank and its holding company, Riggs National Corp., to see if he violated any laws and whether any civil fines or criminal referrals to the Department of Justice should be made, government sources familiar with the investigation said.

At issue is whether Allbritton was an active participant in the daily operations of the bank even though he has not been a director or executive of the bank for three years, the sources said. If regulators determine he was an active participant, then he could face fines or other sanctions, government sources said.

Allbritton said yesterday he has not been named a target of a criminal probe.

Read complete article HERE.

7 Comments:

At 8:40 AM, May 12, 2005, Anonymous Anonymous said...

This is so old. Why is this even posted? Nothing is going to happen to KATV. The Allbritton's have so much money.

Very old. Not even news anymore.

 
At 10:48 AM, May 12, 2005, Anonymous Anonymous said...

of course nithing will happen to him. He's close personal friends with Dubya. I do find it odd that the gM at KATV uses the station for perks just like old Joe uses the Bank.

 
At 1:54 PM, May 12, 2005, Anonymous Anonymous said...

Does this blog have any objective comments? Or, is it all just to bash local tv stations?

 
At 1:24 PM, May 13, 2005, Anonymous Anonymous said...

KATV LOOK'S LIKE A DAM FOOL SPENDING $40.000.00 TO FIX UP OTHER PEOPLE HOUSES AND WHEN YOU LOOK AT THEIR STUDIO IT HAS HOLES ALL IN IT AND IT NEED TO BE FIXED UP AND THE BUILDING LOOKS LIKE IT IS FALLING APART AND THESE PEOPLE NEED TO FIX UP THEIR OWN DAM HOME.

 
At 1:59 PM, May 13, 2005, Anonymous Anonymous said...

What this doesn't say is that Allbritton has since sold the Mercedes for $50,000 less than they paid and sold the $39 million jet they had. Why don't you post that?

 
At 8:59 AM, May 17, 2005, Anonymous Anonymous said...

You think the set has holes in it? Have you lost your mind? Opinions in here are acceptable, if often biased, but you just told a huge LIE in here dude. Not cool.

 
At 11:41 PM, May 24, 2005, Anonymous Anonymous said...

Ok you go and look at the holes on the side of the buildings and i know who wrote this.

 

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