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 ...
“I’ll betch-ya 90% of them voted for 0.”
Tip of the ice berg...
I sure hope so.
Why are they spending time on this little stuff? ;-)
That's just the tip of the iceberg.
Additionally, the FBI has more than 1,800 mortgage fraud investigations, more than double the number of such cases just two years ago.
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.
Too bad they don’t go after ACORN for vote theft and fraud.
http://www.foxnews.com/story/0,2933,432501,00.html
“No investigation on Barney Frank and his Fannie Mae lover Herb Moses?”
They’re still trying to figure out who the front man was ...
I am sure Eric Holder will see to it that no democrat or company that gives to democrats/Obama is prosecuted.
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!!
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