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FBI: Corporate Fraud cases could rise to the hundreds

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malaise Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 04:36 PM
Original message
FBI: Corporate Fraud cases could rise to the hundreds
This could be several Enrons.

They are investigating 38 banks and several corporations.
Breaking on GEM$NBC.
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Hubert Flottz Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 04:39 PM
Response to Original message
1. It's about time!
I hope it amounts to some jail time for the "entitled" crooks and thieves.
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EFerrari Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 04:39 PM
Response to Original message
2. I don't believe they're doing anything of the sort. That's like narcing on your boss
isn't it? :)
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Deep13 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 04:39 PM
Response to Original message
3. Where the offense lies, let the great ax fall. nt
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snappyturtle Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 04:39 PM
Response to Original message
4. K&R This could get good!
:popcorn:
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liberalmuse Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 04:42 PM
Response to Original message
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.
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Warpy Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 04:49 PM
Response to Reply #5
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.
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Warpy Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 04:48 PM
Response to Original message
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.
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malaise Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 04:53 PM
Response to Reply #6
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.
---------------
It's going to get hot!! Men will be jumping!!
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devilgrrl Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 04:52 PM
Response to Original message
8. Good! Now FBI agents have some meaningful work other than catching serial killers.
eom
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glitch Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 04:55 PM
Response to Reply #8
11. or spying on Quakers. nt
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Triana Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 04:55 PM
Response to Original message
10. GOOD. TIme for some damn housecleaning. n/t
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mahina Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 04:57 PM
Response to Original message
12. Can you add the link? I'm not finding it.
Thanks!
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malaise Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 05:07 PM
Response to Reply #12
16. Check #6
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ieoeja Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 04:57 PM
Response to Original message
13. That's good for the economy!

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


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Greyhound Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 05:03 PM
Response to Original message
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.


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bobbolink Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 05:17 PM
Response to Reply #14
20. I have no doubt you're right, but I also doubt that many want to hear the ugly truth.
:grr:
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Greyhound Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 06:19 PM
Response to Reply #20
21. It's the American way...
LA LA LA LA LA LA...




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bobbolink Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-12-09 12:16 PM
Response to Reply #21
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.

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zbdent Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 05:04 PM
Response to Original message
15. I wonder how may are in cahoots with ReRushicans ...
keep the names handy ... they'll come in handy in '10 ...
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anonymous171 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 05:08 PM
Response to Original message
17. YES! PROSECUTE THEM ALL TO THE FULLEST EXTENT OF THE LAW!
Time to cleanse the land. :)
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Downtown Hound Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 05:15 PM
Response to Original message
18. Hundreds? LOL!
The tip of the iceberg...
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nc4bo Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 05:16 PM
Response to Original message
19. Give me their names!! Prosecute and punish every single one of them!!! nt
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Peace Patriot Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 08:27 PM
Response to Original message
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.
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EFerrari Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-12-09 01:33 AM
Response to Reply #22
23. Mueller is still running FBI. He's dirty.
And it makes me wonder what he's up to. :shrug:

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