Recent Developments in Government Investigations of Financial Fraud

The recent acquittals in the trial of Ralph Cioffi and Matthew Tannin, the former Bear Stearns hedge fund managers who were charged with committing securities fraud, represented a milestone of sorts in the wave of regulatory and criminal investigations spawned by the deterioration of subprime mortgage-related assets.  Starting approximately a year and a half ago, federal, state, and local government agencies throughout the United States opened myriad investigations seeking to uncover the reasons (and possibly to apportion blame) for some of the losses experienced during the economic downturn. 

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