Administration Announces Financial Fraud Unit
Corporations and individuals doing business in financial marketplaces will be subject to increased scrutiny by a new task force on financial fraud announced on Tuesday. Attorney General Eric Holder revealed creation of the interagency group to crack down on financial fraud at a press conference on Tuesday. The task force has been charged with investigating and prosecuting financial crimes connected to the recent financial crisis and with taking steps to stop fraud on an ongoing basis. The initiative was created under an executive order signed by President Barack Obama. Holder stated, "The Task Force is designed to strengthen our collective efforts — in conjunction with our federal, state, and local partners — to investigate and prosecute significant financial crimes relating to the current…(read more)
