Score! Evaluating A Few More Of Last Year’s Top 10 Financial Fraud Issues

Today, let’s focus on how we did on three more of our Top 10 Financial Fraud Law issues from the end of last year. We said the #4 issue was the increase of personal liability, from attacks on executive compensation to more and more civil and criminal financial fraud lawsuits filed against individuals. Without a doubt, personal liability is a continuing big, big issue this year. 

Lady Gaga, the oil spill, the economy, the deficit, the lousy housing market, the crazy stock market (down 10 percent in the second quarter, but with a bounce up yesterday and so far today), and a variety of other things may be overshadowing what we saw as the Number 3 issue of last year: Ponzi schemes. However, we still have many, many posts about Ponzi schemes, including one today, and things are likely to heat up in the Madoff case. The mid-point of 2010 may be too early to say where Ponzi schemes fall among the financial fraud law issues of the day, but let's see how we feel this coming December.
 
We are quite confident about the Number 2 issue we cited last December: the significance of the creation of the Financial Fraud Enforcement Task Force to attack financial fraud. It’s crucial to the government’s efforts to attack financial fraud, which the government sees as important to keep costs down, recover funds, and regain popular support for the government. You'll continue to see a lot of news from the Task Force the rest of this year - and for years to come.