Saturday, March 10, 2007

FBI Financial Crimes Report

The SanDiego Union-Tribune reports on the latest statistics released by the FBI regarding mortgage fraud. According to the FBI Report there has been an enormous increase in mortgage fraud  ("The number of FBI cases has grown steadily in recent years, from 436 in 2003 to 818 last year.") In the highlights of the Report it states with regard to corporate crime -

"Corporate Fraud: The highest priority of the Financial Crimes Section, the FBI was pursuing 490 cases at the end of FY2006, which ended last September, including 19 cases that individually cost investors over $1 billion. Investigations resulted in 171 indictments and 124 convictions, as well as over $1 billion in restitutions, $41 million in recoveries, and $62 million in seizures."

(esp)

http://lawprofessors.typepad.com/whitecollarcrime_blog/2007/03/fbi_financial_c.html

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