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NCJ Number: 140270 Find in a Library
Title: Bank and Thrift Criminal Fraud: Information on Justice's Investigations and Prosecutions
Corporate Author: US Government Accountability Office
General Government Division
United States of America
Date Published: 1992
Page Count: 24
Sponsoring Agency: Azimuth Inc.
Fairmont, WV 26554
National Institute of Justice/
Rockville, MD 20849
NCJRS Photocopy Services
Rockville, MD 20849-6000
US Government Accountability Office
Washington, DC 20548
Publication Number: GAO/GGD-93-10FS
Sale Source: Azimuth Inc.
1000 Technology Drive, Suite 3120
Fairmont, WV 26554
United States of America

National Institute of Justice/
NCJRS paper reproduction
Box 6000, Dept F
Rockville, MD 20849
United States of America

NCJRS Photocopy Services
Box 6000
Rockville, MD 20849-6000
United States of America
Document: PDF
Type: Research (Applied/Empirical)
Language: English
Country: United States of America
Annotation: This report presents information on the U.S. Department of Justice's investigations and prosecutions of criminal bank and thrift fraud, as well as the fines and restitution collected in such cases.
Abstract: The report indicates that the Justice Department's activity against criminal misconduct that involves banks and thrifts has increased over the past several years as more resources have been applied to investigations and prosecutions. In response to appropriation increases, the FBI's investigations into criminal bank and thrift fraud have increased significantly, and the Justice Department has indicted and convicted an increasing number of individuals for major frauds. Over the same period, however, U.S. attorneys declined to proceed with a high number of investigations and cases. In fiscal year 1991, of the 26,118 criminal referrals complaints, and other information it received, the FBI closed 55.1 percent of bank fraud investigations following U.S. attorney declinations. Another 20.5 percent were referred either for local prosecution or to another Federal agency. FBI data indicate that most of the investigations were declined because the alleged fraud involved estimated dollar losses that were too small to warrant the expense of agent and attorney time. Between October 1, 1988, and July 1992, the courts ordered $846.7 million in fines and restitution in cases of major fraud alone. According to information from the Justice Department as of July 1992, the Federal Government had collected approximately 4.5 percent of the total ordered. 3 tables, 4 figures, and appended supplementary information
Main Term(s): Bank fraud
Index Term(s): Fines; Fraud investigations; Prosecution; Restitution; US Department of Justice
Note: Fact sheet for the Chairman of the U.S. House Government Information, Justice, and Agriculture Subcommittee of the Committee on Government Operations.
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