Financial Fraud Snapshot: FBI Now Investigating More Than 2,800 Mortgage Fraud Cases, Up Almost 400 Percent From Five Years Ago

One of the government officials testifying today before the Financial Crisis Inquiry Commission was U.S. Attorney General Eric Holder. Among the interesting things Holder had to say were the following:

1.       Federal prosecutors are investigating a wide array of financial fraud cases, from mortgage fraud, to Medicare and healthcare fraud, to securities fraud, to corporate malfeasance.
2.       The cornerstone the Justice Department’s work is the Financial Fraud Enforcement Task Force, which is focusing on four types of financial crime: mortgage fraud; securities fraud; Recovery Act and rescue fraud; and financial discrimination.
3.       “When we find businesses or individuals whose disregard for the law has hurt the pocketbooks of average Americans, we will use every available measure to hold them accountable.”
4.       The FBI currently is investigating more than 2,800 cases of alleged mortgage fraud, up almost 400 percent from five years ago.