The Justice Department is going to announce arrests in a huge crackdown on investment fraud later today, says Bloomberg.
UPDATE: Find the details of the crackdown by clicking here.
The Department has apparently been planning a crackdown on Ponzi schemes and stock market manipulations since August, and arrests are coming soon.
We don’t know whether or not this is This is *not* related to the hedge fund raids or the latest insider trading investigation, someone familiar with the matter tells us, but we’ll know more later today, apparently.
“The law enforcement operation, which began in August, involves more than 300 criminal defendants and 180 civil defendants, according to the official, who wasn’t authorised to speak publicly and spoke on condition of anonymity.”
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