FBI: Corporate Fraud cases could rise to the hundreds

[malaise]

This could be several Enrons.

They are investigating 38 banks and several corporations.
Breaking on GEM$NBC.

[Hubert Flottz]

1. It's about time!

I hope it amounts to some jail time for the "entitled" crooks and thieves.

[EFerrari]

2. I don't believe they're doing anything of the sort. That's like narcing on your boss

isn't it? :)

[Deep13]

3. Where the offense lies, let the great ax fall. nt

[snappyturtle]

4. K&R This could get good!

:popcorn:

[liberalmuse]

5. You know that September 18th bank run?

I get a feeling it was theft. For years I've suspected the Bush administration and their corporate cronies had been padding the economic books, so to speak. I have absolutely no proof, but I wonder. There's something not right about that.

[Warpy]

7. I've thought it was a desperate attempt

to get a lot of that money out of the country fast before the books got opened and the amount of theft became apparent.

It was the tail end of the outright theft, visible only because scumbags panicked and tried to do too much at once.

[Warpy]

6. Hundreds? I find that terribly optimistic of them.

With regulations removed and seemingly no penalty for financial finagling, it's a miracle every corporation out there didn't give into the temptation of an endless supply of easy fake money.

[malaise]

9. They may have

http://www.msnbc.msn.com/id/29138583/
<snip>
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.

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 to investigate, he 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.
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It's going to get hot!! Men will be jumping!!

[devilgrrl]

8. Good! Now FBI agents have some meaningful work other than catching serial killers.

eom

[glitch]

11. or spying on Quakers. nt

[Triana]

10. GOOD. TIme for some damn housecleaning. n/t

[mahina]

12. Can you add the link? I'm not finding it.

Thanks!

[malaise]

16. Check #6

but here are a gazillion more links

http://news.google.com.jm/news?client=firefox-a&rls=org.mozilla:en-US:official&channel=s&hl=en&ie=UTF-8&tab=wn&ncl=1303334335

[ieoeja]

13. That's good for the economy!

With all those guys pumping their money into the legal profession.

[Greyhound]

14. Most of the biggest thieves have already moved beyond the reach of any enforcement.

This will probably end up being nothing more than an accounting of what was stolen.

Having worked in some of the biggest corporations in America, and seeing the shenanigans that have been normal business practice for well over a decade, I predict we will find that a very large chunk of the companies we think of as too big to fail are nothing more than paper entities with nothing left to seize or sell when the game is finally up.

[bobbolink]

20. I have no doubt you're right, but I also doubt that many want to hear the ugly truth.

:grr:

[Greyhound]

21. It's the American way...

LA LA LA LA LA LA...

[bobbolink]

24. Ah, yes... and it abounds right here in "DU ProGreSSIVE LAND"

BUT... you forgot... it's also the "Progressive" way to denigrate those who DO know and understand.

And....

..........

care.

[zbdent]

15. I wonder how may are in cahoots with ReRushicans ...

keep the names handy ... they'll come in handy in '10 ...

[anonymous171]

17. YES! PROSECUTE THEM ALL TO THE FULLEST EXTENT OF THE LAW!

Time to cleanse the land. :)

[Downtown Hound]

18. Hundreds? LOL!

The tip of the iceberg...

[nc4bo]

19. Give me their names!! Prosecute and punish every single one of them!!! nt

[Peace Patriot]

22. Good! That's what the FBI should be doing--corporate crime!

And I hope the focus is on recovering the pilfered billions--cuz our government could use the money.

[EFerrari]

23. Mueller is still running FBI. He's dirty.

And it makes me wonder what he's up to. :shrug: