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Criminal Law / May 02,2016

In the spotlight: white collar (read mortgage fraud) cases

Any Colorado resident old enough to remember the gut-churning days marked by the oft-termed “Great Recession” that occurred not so many years ago likely notes well the centrality of mortgage fraud in that national debacle.

At the core of that was what state and federal investigators say was a high volume of fraudulent activity engaged in by financial industry participants relating to subprime home loans.

People were closely investigated for that, of course, and many went to prison.

As many of our readers can likely point out, though, one select group of financial actors turned out to be flatly exempt from criminal prosecution in mortgage fraud-related probes, namely, the top tier of bank executives at the nation’s largest financial institutions. Reportedly, no individual in any lofty position at a “too big to fail” bank in the U.S. has yet been convicted in an investigation targeting mortgage fraud.

Conversely, that has not been the case for lower-level industry participants, who have collectively borne the brunt of an investigative government onslaught. State and federal probes of targeted individuals in mortgage fraud cases are often flatly intense; as we note on our criminal defense website at Flesch & Beck Law in Denver, crime agencies in recent years have been “pouring resources into the prosecution of fraud and financial crimes.”

As noted in a recent CNN Money article on mortgage fraud, investigators indeed seem to be busier than ever, with one agency conducting probes reportedly “continuing to investigate hundreds of cases at institutions of all sizes.”

That can make for a dire need for any targeted suspect to secure timely and aggressive assistance from a proven criminal defense attorney having experience defending clients in white collar financial investigations.

The government’s efforts in such cases are backed by tremendous manpower and resources. Any targeted criminal suspect has an obvious and immediate need to level the playing field to the fullest extent possible.

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