Federal criminal prosecutors are stepping it up! The US Attorney's Office and Justice Department are very interested in Wall Street...and it's not to buy stocks!
These offices, with bases in Manhattan have notified the SEC that they want more information about Merrill Lynch. This move comes as the SEC has upgraded its Merrill Lynch probe to a formal investigation.
Probes of those on Wall Street include:
Brooklyn US Attorney's office: criminal investigations of Bear Stearns and UBS.
Manhattan US Attorney's office: requested information on Merrill Lynch
SEC: three dozen probes, including formal probes of Merrill Lynch, UBS, Bear Stearns, Morgan Stanley and Citigroup.
FBI: investigating 14 companies, including mortgage originators for accounting fraud and insider trading.
New York Attorney General: has subpoenaed Bear Stearns, Deutsche Bank, Morgan Stanley, Merrill and Lehman.
Massachusetts Sec. of State: suing Merrill over mortgage-backed securities sold to Springfield, Mass.; probe of Bear Stearns.
Go get 'em boys...
And thank you for making me Your Orange County Real Estate Connection.
Best regards, Michael Caruso
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