FBI Targets Fraud In TARP, Stimulus Fund: Mueller

FBI Targets Fraud In TARP, Stimulus Fund: Mueller - 6/2/2009

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FBI Targets Fraud In TARP, Stimulus Fund: Mueller
Staff Writer

Reuters. June 2, 2009
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EXCERPT: The FBI and other U.S. agencies are working to prevent fraud and corruption related to government bailout money and the economic stimulus package, in what could be the "next wave" of cases in the financial crisis, FBI Director Robert Mueller said on Tuesday. Mueller said in a speech to the Economic Club of New York that the FBI, U.S. Securities and Exchange Commission and the inspector general of the Troubled Asset Relief Program were working to track where federal money is going. "With billions of dollars at stake -- from the purchase of troubled assets to improvements in infrastructure, healthcare, energy and education -- even a small percentage of fraud would result in substantial taxpayer losses," Mueller said. Mueller added: "We and our counterparts in other agencies are working to prevent what has the potential to be the next wave of cases: fraud and corruption related to the TARP funds and the stimulus package." He also said the agency was shifting resources in New York to combat white-collar crime.

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