Released: November 18, 2009

Obama creates task force targeting financial fraud

Source: Jim Puzzanghera, Los Angeles Times

President Obama is taking a page out of his predecessor’s playbook by creating a multi-agency task force to pursue criminals who bilked investors and consumers during the financial crisis.

The task force of top federal officials will work with state and local authorities to pursue financial fraud cases stemming from the crash of the housing market and the Wall Street meltdown, administration officials said Tuesday.

“Mortgages, securities and corporate fraud schemes have eroded the public’s confidence in the nation’s financial markets and have led to a growing sentiment that Wall Street does not play by the same rules as Main Street,” Atty. Gen. Eric H. Holder Jr. said.

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Keywords

Fraud, Financial Fraud, Scams, Consumer Protection