Sunday, December 12, 2010
"Starting on Aug. 16, 2010, to date Operation Broken Trust has involved enforcement actions against 343 criminal defendants and 189 civil defendants for fraud schemes involving more than 120,000 victims throughout the country. The operation’s criminal cases involved more than $8.3 billion in estimated losses, and the civil cases involved estimated losses of more than $2.1 billion"
But the real question is who broke the trust, not what are the ramifications of the eventual trust being broken. Would earlier enforcement have resulted in less damage to individuals? And would proactive education have proved even more significant in curtailing these fraud schemes?