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Corporate fraud run amok: FBI investigating over 500 cases

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posted on Feb, 12 2009 @ 08:28 AM
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Corporate fraud run amok: FBI investigating over 500 cases


rawstory.com

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, and there is an even bigger mountain of mortgage fraud cases in which hundreds of millions of dollars may have been swindled from the system.

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 ...
(visit the link for the full news article)



[edit: clipped quoted content to 500 char. limit]

[edit on 12-2-2009 by 12m8keall2c]




posted on Feb, 12 2009 @ 08:28 AM
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Here is another example of the fraud and cheating that is rife in government and business.

About the only thing that really trickles down in our society today, is the corruption that comes from the top.

With recent articles in the news such as Judges acting corruptly, sending kids to jail for cash kickbacks, people on Wall Street committing fraud and the SEC standing off from doing any investigation for years, and on, and on, and on, it makes an honest person wonder how others can create such havoc with their greed and be able to live with themselves.

I guess when they are living it up with other peoples stolen money and lives, they really don't care. They think we are dumb and that makes them want to fleece the average Joe even more, to fuel their extravagant lifestyles.

It's no wonder cheating and wrongdoing is rampant all the way from the top to the very bottom of society.

Notice though, as usual, it is not the people at the top that get the punishment that they deserve. No, they are shuffled around in the black hole of government and business until they float back up to the top like the pieces of sh*t they are.

Notice Mr. Barofsky, the "appointed inspector general of the ongoing financial bailout plan", is NOT suggesting the bigwigs at the top pay the price, no, he suggests the best way to clean up mortgage fraud is to go after the "licensed professionals" which in layman's terms, means the little piddly guy, who learned it's ok to steal (and was probably encouraged to, by quotas, etc.)by example, from people up the chain of command.

We need to start demanding that EVERYONE involved in fraud of any kind, be prosecuted to the fullest, and that means starting at the top especially.

No plea deals should be allowed that would enable the big money makers to get off scott free, or a with a slight tap on the wrist, after climbing to the top over a pile of ruined lives.

After all, if CEO's and governmental officials get the big bucks for being the leaders, they need to receive the stiffest sentences as well.

rawstory.com
(visit the link for the full news article)

Edited to add: We, the people, need to seriously start PROTESTING this stuff when we see it, especially when they have those "congressional hearings" that don't DO ANYTHING!!!

[edit on 12-2-2009 by sezsue]



posted on Feb, 12 2009 @ 08:56 AM
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It may not be the best time to be a banker right now, but its the BEST time to be a lawyer.
Go get 'em boys.



posted on Feb, 12 2009 @ 09:01 AM
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I have a friend who has been a mortgage broker for years and an honest one at that. (yeah one of the few
) I asked him about whats being done to hold the criminal lenders accountable... his answer... fake investigations for the major bank lenders.
The ones that are going on are against companies they no longer need. As they aren't owned by the major banks that they have chosen for us. The numbers that are quoted in the article are also way LOW on the number of cases that are being investigated against these smaller lenders too.

[edit on 12-2-2009 by xoxo stacie]



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