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Feds Indict Hundreds in Fraudulent Investment Scheme

By Jeralyn, Section Crime in the News
Posted on Mon Dec 06, 2010 at 01:07:39 PM EST
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The Justice Department announced the indictment of more than 300 people today for investment fraud as part of Operation Broken Trust.

The operation was launched on August 16, 2009. Attorney General Holder said today that 343 people have been charged criminally, 189 face civil charges and 87 defendants have been sentenced to prison.

The DOJ press release is here.

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    Feds Indict Hundreds in Fraudulent Investment Scheme | 8 comments (8 topical)

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    Nickle & Dime (5.00 / 2) (#1)
    by NYShooter on Mon Dec 06, 2010 at 01:22:46 PM EST
    When Jamie Dimon dons an orange jumpsuit I'll believe they're serious.

    My first thought as well... (5.00 / 2) (#5)
    by kdog on Mon Dec 06, 2010 at 05:00:09 PM EST
    who are the 300 fall guys to mend a "broken trust"...lol.

    Wanna mend the broken trust?  Audit the fed, open all the books, shine a light on this mother...don't bust a handful of glorified pick-pockets and tell us you're squaring the markets...thats like busting the guy marking cards in a game with a fixed deck.

    Parent

    You swindle John Elway... (5.00 / 1) (#6)
    by MileHi Hawkeye on Mon Dec 06, 2010 at 10:39:54 PM EST
    ...and other movers and shakers and you get 40 years.  

    Maybe John can make some of that cash back by being the next Head Coach of the Broncos...

    I suppose that is what it comes down to (none / 0) (#9)
    by Militarytracy on Tue Dec 07, 2010 at 08:12:28 AM EST
    too.  Trying to impress upon the unwashed that you care while also defending important people.

    Parent
    This is supposed to return a sense (5.00 / 1) (#8)
    by Militarytracy on Tue Dec 07, 2010 at 08:11:17 AM EST
    of trust to investing and is A JOKE.  This is the Abu Ghraib of investing....a few bad apples and now everything will be okay.  WHAT A JOKE!  MERS is the biggest ponzi scheme evah!  Was this the best that Holder and Geithner could come up with in an attempt to get everyone to throw their money into the abyss again?

    I like that they went after people (none / 0) (#2)
    by ruffian on Mon Dec 06, 2010 at 01:32:18 PM EST
    targeting the little guys. That's a step in the right direction.

    Waiting for the big insider trading cases however.

    "Operation Broken Trust?" (none / 0) (#3)
    by KeysDan on Mon Dec 06, 2010 at 01:45:48 PM EST
    All encompassing, targets most of DC types.

    Good ... (none / 0) (#4)
    by nyrias on Mon Dec 06, 2010 at 01:55:50 PM EST
    i hope they criminals are given harsh sentences and all their properties are confiscated and sold off to compensate the victims.

    Feds Indict Hundreds in Fraudulent Investment Scheme | 8 comments (8 topical)

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