September 6, 2023
The Largest Legal Fraud in American History – $3B+ Asbestos Trust Fund Theft and Misappropriation — California Attorney Steven Kazan the Ringleader
Call them the Asbestos Legal Mafia. With Oakland Attorney Steve Kazan as the corruption ringleader….
Here’s a brief checklist of Corruption and Fraud Engineered by Steven Kazan:
- Misappropriated well over $2B (yes, Billion!) from Asbestos Trusts (Kazan views Asbestos Trusts as his personal Piggy Banks)
- Diverted well over $300M from Asbestos Trusts to Former Defense Lawyers, his Former Local Judges (Ken Kawaichi), and other parties the Department of Justice prohibits from receiving Funds.
- Used over $1M in Asbestos Trust Funds to “pay off” (make donations) to the Attorney General, Department of Justice, and the Biden administration to avoid Legal scrutiny.
- Diverted over $50M from 2 Asbestos Trusts through insider dealing (NARCO/Pittsburgh Corning) to pay off his Medicare Fraud.
- Kazan colluded with fellow Fraudster Alan Brayton to submit hundreds of completely fraudulent Default Judgments against Western Asbestos aka Western McArthur to bankrupt the company and steal over $1B from that company (www.wastrust.com – the Western Asbestos Trust).
- Lied to dozens of Judges (literally dozens) to skirt Department of Justice Rules by concealing that he is an “interested party” precluded from acting as a Trust Fiduciary. As a result, Kazan has been appointed to 25+ Asbestos Trusts where he then receives favorable treatment and can use these funds as his personal “piggy banks”.
- Set up completely “fake Foundations” (for his loser kids) to conceal his mass theft from Asbestos Trusts to commit Tax Fraud.
- Diverted over $250M from Asbestos Trusts to “Professionals” (Fraudsters) who would assist Kazan in further enabling his Fraud….and this is just a sampling…
How has Steven Kazan stolen over $3B? In order to understand how criminal Steven Kazan accomplished this fraud, you need to understand Asbestos Trust funds.
Over $50B ($Billion) has been contributed to Asbestos Trust Funds by ‘bankrupt’ Asbestos Companies.
There are over 50 active Asbestos Trust Funds run by “Fiduciaries” (Trustees, Plaintiff Lawyers, Futures Representatives, Professional) who are paid millions of dollars to ensure that 2 Fundamental Rules in every Asbestos Trust documents approved by Bankruptcy Courts.
Those 2 Fundamental Rules in every Asbestos Trust By-Laws and Asbestos Trust Distribution Procedures are as follows:
- All Claimants Shall be Treated Equally…
- Future Victims Shall be Treated the Same As Present Victims…
But what if those Asbestos Trust Fiduciaries (Steve Kazan, Asbestos Plaintiff Lawyers, Trustees/Former Trust Judges, Trustees/Former Asbestos Defense Lawyers) overseeing and operating the Asbestos Trusts are entirely dishonest and motivated by greed, theft, and Trust misappropriation? Let the theft begin….Could this be the largest Legal Theft and Fraud in United States History? We’re not talking about millions, we’re talking about BILLIONS. With Steve Kazan (and Alan Brayton and his douchebag partner Gil Purcell) as the Asbestos Trust Criminal Ringleaders.
So how much is actually gone from Asbestos Victim’s funds?
See attached for a partial answers (easily $10 Billion….)…Proof – $Billions Gone – Kazan Reaping Billions from Trusts – Insider Dealing
With Accounting Fraud and deception at every Asbestos Trust, and Judges (especially Judge Sheri Bluebond) ‘rubber-stamping’ Annual Reports which they KNOW contain fraud and criminal conduct, it’s very difficult to tell…but at least $3B. Here’s how we know…
A new in-depth analysis of Asbestos Trusts and their Present, Past, and Future payouts provides our answers….
The analysis took into account just 14 Active Asbestos Trusts (out of more than 50). See below. These Trusts were selected because they were confirmed more than 10 years ago, Steven Kazan and Alan Brayton are Fiduciaries on nearly every one, and these Asbestos Trusts provide the best analysis of payments just 10 years ago versus payments today (September 2023).
A review was done of each Trust’s Annual Reports, current “Payment Percentage”, past “Payment Percentage”, Confidential “Insider” Trust Documents, as well as hundreds of Asbestos Trust filings and valuations. The figures in the chart below are taken after the application of the applicable “payment percentages” for each Asbestos Trusts.
The analysis takes into account – for “identical claimants”:
1)What each of these 14 Asbestos Trusts paid Asbestos Victims in 2014?
2) What each Trust pays an Asbestos Victim today?
3) What each Trust pays Steve Kazan’s claims (besides being a Trust Fiduciary, he also files claims and receives excessive valuations and favorable treatment)….?
The amount of Asbestos Trust Fiduciary misappropriation, insider dealing, fraud and theft is staggering. Staggering!
The detailed Asbestos Trust Analysis of Payments over time (below) yielded the following irrefutable conclusions (see below) proving Asbestos Trust Fiduciary Misappropriation — Probably the largest theft in American History….
- Every Current and Future Mesothelioma Victim will receive far, far less in recovery than Past Mesothelioma Claimants from each Asbestos Trusts; About $500,000.00 less than identical victims of eight years prior….
- In 2012 Mesothelioma victims received $836,389.00 for the referenced claims 14 Trust Claims versus $255,384.50 from those same 14 Trusts today;
- EVERY Current and Future Mesothelioma Victim will receive at least $581,004.50 less than past Mesothelioma Victims/Claimants from the same exact Asbestos Trusts;
- The vast majority of Asbestos Claimant Committee Members/Plaintiff Lawyers claims (with all Trusts) received favorable treatment, excessive valuations, and were often fraudulent yet every Asbestos Trust “Fiduciary” swept the information “under the rug” to not ‘upset’ their excessive payments (as Futures Rep, Professional Ankura Consulting); Steve Kazan ALWAYS receives favorable Asbestos Trust Fund treatment.
- Asbestos Claimant Committee Members/Plaintiff Lawyers average claim payments – from just these 14 Trusts (and after the payment percentage was applied) — was $2,823,459.00 (which is at least 3x more than identical claims from other attorneys); i.e. the Attorney/Fiduciary Steven Kazan’s Mesothelioma Claims – for one victim’s claims filed with these 14 Trusts – received $2,823,459.00.
- Asbestos Claimant Committee Members/Plaintiff Lawyers (Kazan/Brayton) received $2,568,074.50 more than identical Mesothelioma claims filed today by non-Asbestos Claimant Committee Members/Plaintiff Lawyers (Steve Kazan and Alan Brayton and….);
- Over $2.5B – at least 1/2 through fraud – has been paid to Fiduciaries (not counting the Plaintiff Lawyers) from Asbestos Victim Trust Funds;
- Over $20B has been paid Plaintiff Lawyers Fiduciaries for their claims and “Favorable Treatment” (and excessive payments) is indisputable;
- Every Asbestos Trust Fiduciary, Futures Representative, Asbestos Claimants Committee Member, and their “Professional” (i.e. Ankura Consulting LLC) has engaged in and enabled the criminal misappropriation of billions (at least $10B) in Asbestos Trust Funds. Here is who is responsible – https://wp.me/p81dOs-sg
- Every Claims Processing Facility (DCPF, Verus, MFR et al…) has knowingly engaged in the misappropriation and theft of Trust funds. https://wp.me/p81dOs-sg
Key Takeway: In the Year 2023, Mesothelioma Claims receive at least $581,004.50 LESS than ‘identical’ past Mesothelioma Claimants — $836,389.00 (2012) v. $255,384.50 (2023)….
Chart: Asbestos Trust Fiduciary Corruption – How Payments Have Been Reduced for Asbestos Victims…
|Trust Name (Facility)||Opening Payment % for Trust (Mesothelioma)||Current Trust Payment % (2022)||Expedited Review Payment Year 2012 (Mesothelioma)||Current Expedited Review Payment in (Year 2022)|
|Armstrong World Industries Trust (DCPF)||43%||19.70%||$47,300.00||$21,670.00|
|Babcock and Wilcox Trust (DCPF)||34%||6.30%||$30,600.00||$5,670.00|
|ASARCO Asbestos Trust (Verus)||100%||35%||$170,000.00||$59,500.00|
|Kaiser Aluminum Asbestos Trust (Verus)||39.50%||18.10%||$27,650.00||$12,670.00|
|Combustion Engineering Trust (Verus)||48.30%||18.50%||$32,350.00||$13,875.00|
|T.H. Agriculture & Nutrition Trust (Verus)||100%||30%||$150,000.00||$45,000.00|
|Shook and Fletcher Trust (MFR)||100%||50%||$26,209.00||$13,104.50|
|J.T. Thorpe Trust -TX (MFR)||57%||25%||$57,000.00||$14,250.00|
|Fibreboard Trust (DCPF)||25%||4.40%||$33,750.00||$5,940.00|
|Owens Corning Asbestos Trust (DCPF)||40%||5.90%||$86,000.00||$12,685.00|
|ABB Lummus Asbestos Trust (Verus)||100%||11.70%||$60,000.00||$7,020.00|
|DII Asbestos Trust (DCPF)||100%||50%||$57,200.00||$28,600.00|
|Celotex Trust (DCPF)||14.10%||8%||$18,330.00||$10,400.00|
|Leslie Asbestos Trust (MFR)||40%||5%||$40,000.00||$5,000.00|
|2012 Total Paid to Meso Claims (min) – $836,389.00||2022 Total Paid to Meso Claims $255,384.50|
|Honeywell Agreement with NARCO Asbestos Trust – Trust Fraud Cost Asbestos Victims at Least $3B|