The Real Deal Miami

Federal taskforce seeks fraud in subprime crisis

May 06, 2008 09:18AM

Federal authorities have created a task force, to be headed by prosecutors in New York, to determine if lenders or investment banks involved in the subprime crisis are guilty of fraud. The task force will consist of federal, state and local agencies, including representatives of the FBI, who will investigate lending companies for possible accounting fraud, insider trading and other potentially illegal activities.