Feb 12 2009

FBI is considering shifting agents away from counterterrorism work to help sort through the wreckage of the financial meltdown

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Pistole told Congress his investigators have 530 active corporate fraud investigations, and 38 of them involve some of the biggest names in corporate finance — cases directly related to the current crisis.

In addition, FBI 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.

The FBI now has more than 1,800 open mortgage fraud corporate 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.

“It is a matter of lawyers, brokers or real estate professionals that are systematically trying to defraud the system,” Pistole said.

Agents have even seen some instances of organized crime getting involved in mortgage fraud, he said.
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Maybe the FBI should investigate a few in government, might find out that there is more that defrauded the system in government than they think!

LINKS:

(1) Now that the global jihad is over, FBI mulling shifting agents out of counterterrorism
All clear! Go back to sleep. Nothing to be concerned about.

3 comments on “FBI is considering shifting agents away from counterterrorism work to help sort through the wreckage of the financial meltdown”

  1. “It is a matter of lawyers, brokers or real estate professionals that are systematically trying to defraud the system,” Pistole said.

    This is interesting. The Donks have been advancing all across the “affordable housing” front for thirty years, mainly by forcing banks to make bad loans. Now they propose to persecute the people who were in the business of making bad loans. How do you defraud a system that is based on fraud? All this kill-the-rich stuff on the part of Obie and the Dems is prelude to nationalizing the financial sector.

  2. Yes, let them investigate the Barney Pranks and others in government that not only benefited from it but pushed it.
    Don’t stop with the bankers and other financial geniuses that got us into this mess.

  3. There you go. We need a Truth Commission. Get Barney’s f***buddy from Fannie Mae to reveal their pillow talk.

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