FBI Ramps Up Probes of Financial, Mortgage Fraud

Red Bank, April 7, 2009/The FraudBlog Newsletter/- FBI probes into financial and mortgage fraud are growing at exponential rates. John Pristole, FBI Deputy Director, said that the bureau has more than 2,000 open investigations into mortgage fraud and about 566 corporate-fraud investigations. Corporate and financial-institution failures have forced the FBI to focus on accounting fraud, insider trading and financial-statement manipulation. The director has expressed concern that the amount of fraud that has begun to surface has actually put a strain on the FBI’s resources for investigating white-collar crime.