10/01 as part of the President's Corporate Fraud Task
and coordinates the FBI's limited WCC resources on combating
the corporate fraud crime problem
465 corporate fraud investigations in which it is alleged
that corporate officers intentionally "cooked the
books" in order to artificially inflate the value
of their corporation's stock and/or to justify paying
themselves millions of dollars in bonuses to which they
were not entitled.
investigations include: Enron, Worldcom, and Qwest Communications.
45 separate investigations on backdating.
2,962 indictments/informations, 2,569 convictions and
restitution totaling over $14.9 billion related to Corporate
and Securities Fraud.
of 7/27/2006, 109 FBI agents are dedicated to Corporate
Fraud investigations, with an additional 158 FBI agents
working Securities Fraud investigations.
Care Fraud Initiative
the most egregious health care fraud offenders, both
organizations and individuals, who are defrauding the
public and private health care systems
Fraud Initiative focuses on investigations that
involve drug diversion, off-label marketing and prescription
Pharmacy Initiative focuses on the identification
of Internet Pharmacies involved in the illegal distribution
of pharmaceuticals in the United States and internationally;
Automobile Accident Insurance Fraud Initiative investigates
members of staged accident rings formed specifically
to defraud health care entities.
Surgery Center Initiative addresses the nationwide
schemes in which health care providers and facilities
are billing private insurance plans for unnecessary
outpatient surgeries arranged through a network of individuals
that includes owners of medical clinics, physicians,
marketers and recruiters.
new investigations; 3,100+ indictments/informations;
2,700+ convictions; $351 million in recoveries; $219
million in seizures/forfeitures; $4.1 billion in restitution;
$1.1 billion in fines.
Institution Fraud Initiative
the most egregious financial institution offenders,
both insiders and outsiders
with approximately 200 contacts in law enforcement and
industry at the national level, and task forces and
contacts at the field office level, in order to address
this over $1 billion crime problem
example: 12/05 Operation Quick Flip resulted in 156
indictments, 81 arrests and 89 convictions.
from October 2001 through the present include: 6,000+
arrests; 13,000+ indictments/informations; 12,000+ convictions;
$131 million in recoveries; seizures or forfeitures
of $159 million; restitution payments in the amount
of $14 billion; fines totaling $632 million.
increase in the number of informations and indictments
in money laundering cases since 2001. Across the FBI,
since 2001 there have been 2,187 arrests and 4,763 informations
Value Cards Initiative explores the impact of e-Currency
on global money laundering
Activity Report (SAR) Initiative identifies unregistered
Money Service Businesses
the groundwork for a National Identity Theft Center