The Real Deal Miami

Stimulus funds expected to cause increase in mortgage fraud

March 26, 2009 08:41AM

The Federal Bureau of Investigation is bracing itself for a wave of mortgage fraud and economic crimes because of the allocation of stimulus money and the bailout. “The unprecedented level of financial resources committed by the federal government to combat the economic downturn will lead to an inevitable increase in economic crime and public corruption cases,” said FBI Director Robert Mueller. The FBI has more than doubled the number of agents investigating mortgage fraud over the past three years to keep up with its doubled caseload, Mueller said.