Dismiss Notice
You are browsing this site as a guest. It takes 2 minutes to CREATE AN ACCOUNT and less than 1 minute to LOGIN

FBI probing bailout firms

Discussion in 'International Forum' started by BAK, Sep 24, 2008.

  1. BAK

    BAK JF-Expert Member

    Sep 24, 2008
    Joined: Feb 11, 2007
    Messages: 48,529
    Likes Received: 7,634
    Trophy Points: 280
    FBI probing bailout firms
    Investigators start search for fraud at Fannie Mae, Freddie Mac, Lehman

    WASHINGTON (AP) -- The FBI is investigating four major U.S. financial institutions whose collapse helped trigger a $700 billion bailout plan by the Bush administration.

    Two law enforcement officials said Tuesday the FBI is looking at potential fraud by mortgage finance giants Fannie Mae (FNM, Fortune 500) and Freddie Mac (FRE, Fortune 500), Lehman Brothers Holdings Inc. (LEH, Fortune 500), and insurer American International Group Inc. (AIG, Fortune 500)

    The inquiries, still in preliminary stages, will focus on the financial institutions and the individuals that ran them, a senior law enforcement official said.

    Officials said the new inquiries brings the number of corporate lenders under investigation over the last year to 26.

    Spokesmen for AIG, Fannie Mae and Freddie Mac did not immediately return calls for comment Tuesday evening. A Lehman spokesman did not have an immediate comment.

    The law enforcement officials spoke on condition of anonymity because the investigations are ongoing and are in the very early stages.

    Just last week, FBI Director Robert Mueller put the number of large financial firms under investigation at 24. He did not name any of the companies under investigation but said the FBI also is looking at whether any of them have misrepresented their assets.
  2. A

    August JF-Expert Member

    Sep 24, 2008
    Joined: Jun 18, 2007
    Messages: 3,595
    Likes Received: 178
    Trophy Points: 160
    je uwt na takukuru wetu wanafan yaje against institution zetu kama bot, nic, tanesco etc. au wanafanya kisiri siri? na why kisiri siri, m bona wenzetu wanafanya openly?