Guide to Real Estate Fraud

FBI update on mortgage fraud

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Federal Bureau Investigation Director Robert S. Mueller III recently talked about the increase in corporate fraud. According to Mueller, FBI’s corporate fraud cases have reached a high mark of 80 % from 2003 to present. Last year alone, there were about 490 convicted corporate and securities fraud perpetrators.

Mueller claimed there will be more serious situations of frauds because of the “ripple effect of the sub-prime crisis and its impact on the credit market”. At the moment 19 companies had already been disclosed to be involved in corporate fraud activities connected to the sub-primed lending crisis. Worse, the FBI is currently looking into more than 1,300 mortgage fraud matters.