FBI investigating 530 corporate fraud cases

FBI investigating 530 corporate fraud cases

www.msnbc.msn.com

updated 18 minutes ago

WASHINGTON - The FBI is conducting more than 500 investigations of corporate fraud amid the financial meltdown, FBI Deputy Director John Pistole told the Senate Judiciary Committee on Wednesday.

Investigators are tackling an even bigger mountain of mortgage fraud cases in which hundreds of millions of dollars may have been swindled from the system, he told lawmakers.

Pistole says there are 530 active corporate fraud investigations, and 38 of them involve some of the biggest names in corporate finance in cases directly related to the current economic crisis.

(visit the link for the full news article)



Related AboveTopSecret.com Discussion Threads:
Submit General News

Well it's about time that the public knows that some people on Wall Street are finally going to go down.

Ok, maybe that's just wishful thinking as they'll probably hide behind lawyers and appeals until God knows when, but at least it's a start.

I for one can't believe that it took this long to get this action started. I have not read that anyone has gotten fired over this on Wall Street. Maybe jail is more fitting.

All of the private clubs, the yachts, the Brooks Brothers suits and off shore accounts. Nothing but greed, greed, greed.

I can only hope that the Big name firms who employee these people under investigation have to pay huge fines and all of that.



www.msnbc.msn.com
(visit the link for the full news article)

It is good that they are investigating. They need to. However, if all this investigating merely leads to a slap on the wrist, I will be very disappointed. Somewhere along the line these people have to be held responsible for their actions.

My God.....some actual real good news for once. This is great! I hope they do follow through with this and prosecute some people.Let them know they are not above the rest of us in this world. I wonder how deep this will go...meaning as far as what if any politicians palms where greased.

Good, and well... not so good. My theory - they investigate, find wrongdoing, point fingers and pontificate about the nastiness of it all, plea agreements are reached, nothing happens. Need evidence, see "Bernie Madoff".

I say, let the lynchings begin!!! If the chickiensh*t government won't mete out justice, then it may just be up to us

Big deal, if these morons cant even catch Madoff and his associates after having the evidence handed to them( Yes I know it was the SEC) how can we be expected to believe that they will succesfully prosecute these greedy thieves? If certain members of the various government agencies are not in collusion with corporate emperors,then that means they are completely inept and not qualified to do the jobs that they were hired/appointed to. Either way is an unnacceptable scenario.