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FBI Probing 530 Corporate Fraud Cases
FoxNews.com ^ | Wednesday, February 11, 2009 | FoxNews.com

Posted on 02/11/2009 9:28:12 AM PST by mmanager

The FBI is conducting more than 500 investigations of corporate fraud amid the financial meltdown, the bureau's deputy director told a Senate panel Wednesday.

Deputy Director John Pistole also said 38 of the 530 total active corporate fraud investigations involve fraud and financial institution matters directly related to the economic crisis.

Additionally, the FBI has more than 1,800 mortgage fraud investigations, more than double the number of such cases just two years ago.

There are so many mortgage fraud cases, Pistole said, that the bureau is not focusing on individual purchasers, but industry professionals generating fraud schemes that could total as much as hundreds of millions of dollars.

"It is a matter of lawyers, brokers or real estate professionals that are systematically trying to defraud the system," Pistole said.

Agents have even seen some instances of organized crime getting involved in mortgage fraud, he said.

(Excerpt) Read more at foxnews.com ...


TOPICS: Business/Economy; Crime/Corruption; Culture/Society
KEYWORDS: corporatefraud; crime
I'll betch-ya 90% of them voted for 0.
1 posted on 02/11/2009 9:28:12 AM PST by mmanager
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To: mmanager

“I’ll betch-ya 90% of them voted for 0.”

Tip of the ice berg...


2 posted on 02/11/2009 9:29:20 AM PST by jessduntno (The bailouts are "Obama's series of trillion-dollar debacles.")
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To: mmanager
Would love to see George Soros and his Satan spawn Jonathan Soros go down! Yep! There are two of'em!
3 posted on 02/11/2009 9:31:33 AM PST by avacado (Bipartisanship is when Democrats and Republicans get together to rob the American people blind)
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To: mmanager

I sure hope so.


4 posted on 02/11/2009 9:34:26 AM PST by TribalPrincess2U (Welcome to Obama's America... Be afraid, be very afraid)
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To: mmanager
Why isn't the FBI investigating the important stuff, like Barry Bonds, A-Rod and Miguel Tejada?

Why are they spending time on this little stuff? ;-)

5 posted on 02/11/2009 9:35:46 AM PST by an amused spectator (Obama: Besteuerung Macht Frei)
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To: mmanager

Additionally, the FBI has more than 1,800 mortgage fraud investigations, more than double the number of such cases just two years ago.
That's just the tip of the iceberg.

Back in October, when the first bailout (TARP) was being debated, I called my Congressman and suggested that the bill should include language that the complete history of every "toxic asset" must be investigated and all crimes found be prosecuted as a condition of the "toxic asset purchases" that were in that bill. The staffer thought that was reasonable, but said it would probably never happen.

6 posted on 02/11/2009 9:37:03 AM PST by cc2k (When less than half the voters pay taxes, it's called "taxation without representation.")
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To: jessduntno

Too bad they don’t go after ACORN for vote theft and fraud.


7 posted on 02/11/2009 9:37:20 AM PST by Eric in the Ozarks
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To: mmanager
No investigation on Barney Frank and his Fannie Mae lover Herb Moses?

http://www.foxnews.com/story/0,2933,432501,00.html

8 posted on 02/11/2009 9:37:39 AM PST by what's up
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To: what's up

“No investigation on Barney Frank and his Fannie Mae lover Herb Moses?”

They’re still trying to figure out who the front man was ...


9 posted on 02/11/2009 9:43:27 AM PST by jessduntno (The bailouts are "Obama's series of trillion-dollar debacles.")
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To: mmanager

I am sure Eric Holder will see to it that no democrat or company that gives to democrats/Obama is prosecuted.


10 posted on 02/11/2009 9:57:48 AM PST by penelopesire ("The only CHANGE you will get with the Democrats is the CHANGE left in your pocket")
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To: jessduntno

Ditto’s and what about Dodd and Raines and lets keep up the pressure on ACORN—ABC interviewed one of the ACORN demonstrators, the ACORN lady said, “we have to work for our money, we don’t get nothin for free” sure you don’t honey, all that 5.4 BILLION goes to the organization your work for. Another great distorted interview by the MSM!!


11 posted on 02/11/2009 9:58:58 AM PST by ScareyFast63
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