FBI Director Pledges to Stop Securities Fraud Thieves

With Southern Florida a current hotbed for corporate and securities fraud schemes, the Director of the FBI recently reassured members of the area’s business community that they are taking action to cut down on fraud cases.

During a speech to the Greater Miami Chamber of Commerce, Robert Mueller admitted that health care fraud, mortgage fraud, and securities fraud cases had become a significant problem in the area. While he said that the terrorist attacks on 9/11 had significantly shifted the FBI’s focus to fighting terrorism, he added that there still was a strong initiative to combine their knowledge with whatever bandwidth they had to make sure fraud cases are handled appropriately.

"This betrayal of trust poses a great challenge, because our free market economy and, indeed, our whole way of life, is built on trust – trust in the markets, and trust in our fellow citizens," Mueller said, according to the South Florida Business Journal. "Financial fraud undermines that trust, with severe consequences: consequences such as wasted taxpayer dollars, higher insurance premiums, and increased business costs - to say nothing of the harm to the victims themselves."

Mueller added that the FBI had been successful in tracking down some significant securities fraud schemes in the area, including the arrest of Scott Rothstein in connection to a $1.2 billion Ponzi scheme he had been running.

If you or a loved one has been taken advantage of by an investment fraud scheme, call Sokolove Law today to learn more about pursuing a securities fraud lawsuit.