New Investigation of Hedge Fund

Today, The New York Times is reporting that Samir Barai and his hedge fund Barai Capital Management is under investigation for insider trading (http://dealbook.nytimes.com/2011/01/31/another-hedge-fund-linked-to-insider-trading-inquiry/?ref=business). The report says that the Federal Bureau of Investigation executed a search warrant at Barai Capital last November. The investigation is associated with a criminal complaint against Winifred Jiau. In December […]

Local Law Enforcement Lack High Tech Investigative Capabilities

As crimes and the means of committing them have become more technologically advanced, so too have the skills necessary for investigation. While federal agencies such as the FBI have cutting edge computer technology skills, the same is not true for many local law enforcement agencies. Only those in the nation’s largest cities and some states […]

U.S. Arrests Three Broward County Officials on Corruption Charges

Federal agents arrested three current or former Broward County officials on charges related to official corruption or money laundering. The three complaints are unrelated, but all resulted from undercover FBI operations. The three individuals charged are the following: 1) Beverly Gallagher, a member of the Broward County school board, 2) Fitzroy Salesman, a former Miramar, […]

DOJ Turns to FCPA

The Department of Justice is turning to a Watergate era statute to battle international business corruption. In 1977 the Foreign Corrupt Practices Act became law. The law responded to the fact that many companies maintained off shore funds about which they kept inadequate informaion. Investigations at the time revealed that companies used such slush funds […]

FBI Changes Tactics in Fight Against Fraud

The Federal Bureau of Investigation has a caseload of more than 2000 mortgage fraud investigations. This significant number of investigations is straining the resources of the agency. As a result, the FBI will begin fighting fraud using the techniques common to the investigation of non-white collar crime. Traditionally, the investigation of fraud and white collar […]

FBI Moving to Address Financial Fraud Cases

In the aftermath of the September 11 attacks, the Federal Bureau of Investigation increased the resources and number of agents dedicated to national security concerns. Much of this increase occurred at the expense of agents and resources dedicated to the investigation of white collar crime. This has left the FBI ill equipped to meet the […]

Mortgage Fraud Rampant in South Florida

Florida ranks first in the country in mortgage fraud and second in foreclosures. Much of the fraud has taken place in South Florida. During the real estate bubble, phony sales and dissemination of false information was common place. Because the prices of real estate kept rising, the underlying fraud did not come to light because […]