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Idaho's Weekly Journal of Local & National Commentary  Week 3514

 

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by Free Market Duck

Bag Boy Wallace Charged with Felony in U of Idaho Crime Spree...
Major Perps Skate Free?
(Nov 1, 2006)

Think about it.  How can you have an admitted crime of this magnitude -- a $100 million Courthouse scam connected to a $136 million University Place fiasco, almost a quarter of a billion dollars -- with only one perp?

Will Wallace get 20 years in the slammer and a $100,000 fine, or a pre-planned probation and a simple slap on the wrist?

Moscow, ID – "Welcome to Boise, turn your clock back 250 years... " where the system of justice (1) is non-existent, or (2) defies gravity as bag boy Jerry Wallace runs faster than the speed of light to commit all the University Place crimes all by himself.

   As the book Boise's Watergate says, "Strap yourself in.  Boise's Watergate is a political roller coaster.  Someone stole $136 million in Public Education funds at University Place -- after tricking the taxpayers into 'renting' a new Court House for $100 million.  Whodunit?  Was it Cryptic Partners or the Boise Lawyers or Governor Kempthorne or Colonel Mustard in the Library with a Revolver?"

   According to Latah Prosecutor, Bill Thompson, the Univ Place crime was committed by only one person:  little ol' Jerry Wallace, former U of Idaho VP of Finance & Admin and, simultaneously, Treasurer of the U of Idaho Foundation (UIF).  Quoting the Idaho Statesman, Prosecutor Thompson said, “the two counts of misuse of state funds against Jerry Wallace are the only charges planned against figures” in the failed University Place fiasco.

   Really?  So why did it take over 3 years and $1 million to investigate the $136 million University Place fiasco if there was only one perp?  And how could he have done it all by himself?  Wow.  That Jerry Wallace must have been a speed demon to run all over the place and pull off one of Idaho’s Major Crimes of The Century with no help.

   Think about it.  Wallace must have been:

(1)   A mastermind to concoct the scam RE how to illegally purchase the 14.25 acres in downtown Boise using a fake lease-purchase that skirted the multi-year indebtedness provisions of the Idaho Constitution (not the Ada County Commissioners and The Friends of the Ada County Judicial System, Inc.), AND

(2)   A whiz at hiring outside developers Cryptic Partners who, historical records showed at that time, were not financially or engineering-wise competent to even build an outhouse but received $28 million in pre-development costs, $7 million of which are still "questionable invoices" (not the Givens Pursley and Elam & Burke lawyers and the CCDC, aka Boise's Urban Renewal Agency), AND

(3)    On all the Boards, Committees, Commissions, and Bureaus simultaneously to steer the financing (not Gov K or his Chief of Staff, Phil Reberger), AND

(4)   Hanging out in the state legislature to ram the $136 million ISBA bond through both houses and personally signed off on it within 7 days flat to COVER UP and REPLACE the $21 million in temp funds with permanent funds BEFORE an end of year audit so they could admittedly REMOVE it from the accounting books (not Gov K or House Speaker Bruce Newcomb or lobbyist-lawyer Roy Eiguren), AND

(5)   Able, when the crooks didn’t get their permanent financing from the ISBA, to rob the UIF’s Paine Webber accounts for another $6.2 million to pay the Boise Lawyers and Cryptic Partners even more booty in a Reconciliation Agreement, driving the $21 million heist up to a non-recoverable $28 million bank job (not the Givens Pursley law firm and Roy Eiguren and Ed Miller and all the Gov’s Merry Men), AND

(6)   Finally, the coup d’etat, cleverly engineered a “secret civil settlement” in which the Idaho taxpayers, through the state’s insurance fund, paid off and absolved EVERYBODY connected to the University Place fiasco, except, of course, future outside-the-Boise-Mob scapegoat:  Cryptic Partners.

   So far, US Attorney Allan Garten investigating the fed criminal portion of Boise’s Watergate is holding his cards close to his chest by saying, “No comment.”  Will he tie the Univ Place scam into a RICO case against Cryptic Partners and the Boise Lawyers who committed similar actions in Sioux City, Iowa’s failed $39 million Theatre-Hotel complex?  Sioux City is now pursuing legal action against Cryptic for their default on the Pierce Hotel development.

   With this latest legal action against only the lowly bag boy for the University Place fiasco, Jerry Wallace, while everybody else in The Boise Mob, so far, has gotten off Scot free, nobody around Boise is holding their breath.  Think about it.  How can you have an admitted crime of this magnitude -- a $100 million Courthouse scam connected to a $136 million University Place fiasco, almost a quarter of a billion dollars -- with only one perp?

   If you want a good summary, only 166 pages, of what really happened in this financial fiasco, you should read the book, Boise’s Watergate: University Place & All The Governor’s Men. – Deep Throat II

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