43 criminal investigations of Wall Street

The FBI says the total number of open corporate fraud investigations nationwide has also risen to 566.

EMAIL  |   PRINT  |   SHARE  |   RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
By Terry Frieden, CNN Justice Producer

What should the government do about AIG bonuses?
  • Tax them
  • Make AIG pay them back
  • Nothing, a contract's a contract

WASHINGTON (CNN) -- Criminal investigations of Wall Street continue to soar and now total 43, a top FBI official told Congress Friday.

A month ago FBI Deputy Director John Pistole testified the number of major investigations numbered 36. In testimony on Friday, Pistole told the House Financial Services Committee the FBI now has "43 corporate fraud and financial institution matters directly related to the current financial crisis."

Pistole also said the total number of open corporate fraud investigations nationwide has risen to 566 -- up from 530 when he testified last month.

The number of FBI mortgage fraud investigation has also continued to climb, from about 1,800 in Pistole's earlier testimony to "more than 2,000."

Appearing on a panel of federal law enforcement regulators and enforcers, Pistole told the panel headed by House Financial Services Committee chairman Barney Frank, D-Mass., that "increasing mortgage, corporate fraud, and financial institution failure case inventory is straining the FBI's limited white-collar crime resources."

Democrats and Republicans expressed sympathy and support for substantially increasing resources for law enforcement investigations aimed at combating financial crimes. To top of page

Features
They're hiring!These Fortune 100 employers have at least 350 openings each. What are they looking for in a new hire? More
If the Fortune 500 were a country...It would be the world's second-biggest economy. See how big companies' sales stack up against GDP over the past decade. More
Sponsored By:
More Galleries
My whirlwind 24 hours in Taiwan as a bridal supermodel Unlike the West, Taiwanese brides-to-be sit for hun sha ?? photo sessions before their actual wedding day. The photos are seen as a status symbol as well as a way to capture the brides' youth and glamor. More
8 startups that'll make your travel experience so much better Here are the new travel apps and services that will make trips easier, less time-consuming, and more fun for the every day business traveler. More
7 'Most American' cars Cars.com says these cars do the most for the American economy. More
Sponsors
Worry about the hackers you don't know 
Crime syndicates and government organizations pose a much greater cyber threat than renegade hacker groups like Anonymous. Play
GE CEO: Bringing jobs back to the U.S. 
Jeff Immelt says the U.S. is a cost competitive market for advanced manufacturing and that GE is bringing jobs back from Mexico. Play
Hamster wheel and wedgie-powered transit 
Red Bull Creation challenges hackers and engineers to invent new modes of transportation. Play