FBI Report: Many More Corporate, Mortgage & Securities Cases Last Year

Criminal Justice

FBI Report: Many More Corporate, Mortgage & Securities Cases Last Year

Posted May 23, 2008, 01:30 pm CDT
By Martha Neil

There's no shortage of work for FBI agents, as the agency has revved up its investigations of alleged corporate, mortgage and securities wrongdoing in recent years.

The Federal Bureau of Investigation reports that the number of corporate fraud investigations last year, 529, was nearly double the figure for five years earlier, and pending mortgage fraud investigations, which totaled 1,204, are nearly triple the fiscal year 2003 figure, writes the National Law Journal. Securities and commodities cases, which totaled 1,217 in 2007, were up by about one-third.

Health care fraud, however, was relatively slow, with neither a significant increase nor a significant decrease in investigations during this period.

The numbers for 2008 may well show a further increase, since the FBI has been aggressively pursuing mortgage fraud and related cases in the face of apparent widespread fraud.

Earlier coverage:

ABAJournal.com: "Feds Rev Up National Mortgage Fraud & Securities Probe"

ABAJournal.com: "FBI Expects Massive Rise in Mortgage Fraud Cases"

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