Saturday, April 28, 2012

U.S. adds muscle to financial fraud investigations

(Reuters) - An Obama administration task force probing misconduct that fueled the financial crisis is increasing its ranks, adding five financial analysts and 10 new federal prosecutors spread across the country, according to a senior Justice Department official.

The increased staffing reflects a new push by the administration to aggressively pursue cases against firms and individuals who contributed to the 2007-2009 financial crisis, especially ahead of the November election.

The U.S. Justice Department has so far brought few cases against high-profile targets since the crash.

The department closed criminal investigations without bringing charges against firms whose names are closely tied to the 2008 crash, including AIG and Countrywide.

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