US Attorney Launches New Offensive Against Small-Time Wall Street Fraud

Preet Bharara

US Attorney Preet Bharara is planning a new front in the war against Wall Street fraud — civil cases.

Baharara will announce the new offensive tomorrow, FT reports:

Mr Bharara will announce the appointment of Heidi Wendel, a former New York state deputy attorney-general, to head a six-strong unit focused on taking civil enforcement action against fraud. Her remit covers “every single type of fraud”, including complex financial misconduct, mortgage deals, abuse of the government’s troubled asset relief programme and healthcare scams, Mr Bharara said.

Aggressive action from Bharara could lead to a surge in post-financial crisis convictions. Less spectacle about Fabrice Tourre and Raj Rajatnaram. More prosecution of quote stuffers and other small-time scams.

Now Check Out The Top 10 White Collar Criminals In Jail –>

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.