Wednesday, February 11, 2009

FBI Investigates Corporate Fraud

With the $50 billion Ponzi scheme of Madoff, and other fraud in the markets, it's time to try something different.

clipped from
The FBI is conducting more than 500 investigations of corporate fraud amid the financial meltdown.
FBI Deputy Director John Pistole is describing the bureau's efforts to the Senate Judiciary Committee.
Pistole says there are 530 active corporate fraud investigations, and 38 of them involve corporate fraud and financial institution matters directly related to the economic crisis.
Also appearing before the committee is Neil Barofsky, the watchdog of the government's $700 billion Wall Street rescue package passed last year.
Senate Democrats are urging more spending to expand the ranks of the FBI's financial fraud investigators.
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