WSJ Reports that FDIC Will Conduct Approximately 50 Criminal Investigations of Failed Bank CEOs, Directors, Employees

 

BUSINESS

 

 

NOVEMBER 17, 2010, 7:54 A.M. ET 

U.S. Sets 50 Bank Probes

FDIC Steps Up Investigations at Failed Lenders; ‘These NumbersWill Increase’

By JEAN EAGLESHAM

 

  

 

The Federal Deposit Insurance Corp. is conducting about 50 criminal investigations of former executives, directors and employees at U.S. banks that have failed since the start of the financial crisis.The agency responsible for dealing with bank failures is stepping up its effort to punish alleged recklessness, fraud and other criminal behavior, as U.S. officials did in the wake of the savings-and-loan crisis a generation ago. More than 300 banks and savings institutions have failed since the start of 2008, but just a fewhave led to criminal charges being filed against bank officials. In an interview, Fred W. Gibson, deputy inspector general at the FDIC, which works with the Federal Bureau of Investigation to investigate crime at financial institutions, said the probes involve failed banks of all sizes in cities across the U.S. The FDIC is also ramping up civil claims to recover money from former bankers at busted lenders. He declined to identify any of the people or banks under investigation.

 

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3 thoughts on “WSJ Reports that FDIC Will Conduct Approximately 50 Criminal Investigations of Failed Bank CEOs, Directors, Employees

  1. I have written you before and requested that you call me back. I had a stroke, and have difficulty writing. I worked for RTC & FDIC as an attorney, supervising litgation in AZ, UT, Tex and NM, and was the tax manager for our district office in Denver. I was a CPA, for ten years, prior to graduating from U.Tex. law school, and Elizabeth Warren, for UCC, when she was a nobody. FDIC, sent me to bank examiner’s school, although I worked as an attorney, -o give me additional skills. I did closings and the subsequent sale of 17 S and L’s in UTAH, about 40 in NM. PRior to FDIC, I worked for in AZ, on a law firm that represented Charles Keeting, and in NM I worked for Modral, the largest firm in the state.

    There is a cheap and easy way to crack open the mortgage ,
    lender, and insurance fraud, particularly in AZ. Please call me at 303-697-3304.

    Like

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