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FBI probes finance giants
Wednesday 24th September 2008, 10:26AM BST.
The FBI has launched a probe into four of the firms at the heart of America’s financial crisis, according to US media.
The Wall Street Journal said investigators will focus on whether fraud led to the downfall of Fannie Mae, Freddie Mac, Lehman Brothers and American International Group (AIG).
This is in addition to the 1,400 mortgage-fraud cases law enforcement officials are investigating across the country.
According to US media, congress believes top executives should be brought to book over the crisis.
A plan hatched by the US treasury to bailout troubled firms has hit opposition from lawmakers concerned about the effect on the taxpayer.
A spokesperson for the US justice department said yesterday: “As part of our investigative responsibility, the FBI conducts corporate fraud investigations. The number of cases fluctuates over time, however we do not discuss which companies may or may not be the subject of an investigation.”
Yesterday, a federal law enforcement official confirmed the FBI is looking at 26 cases of potential corporate fraud.
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