11/17/2009 Financial Fraud Enforcement Task Force
WASHINGTON—Attorney General Eric Holder, Treasury Secretary Tim Geithner, Housing and Urban Development (HUD) Secretary Shaun Donovan, and Securities and Exchange Commission (SEC) Chairwoman Mary Schapiro today announced that President Barack Obama has established by Executive Order an interagency Financial Fraud Enforcement Task Force to strengthen efforts to combat financial crime. The Department of Justice will lead the task force and the Department of Treasury, HUD, and the SEC will serve on the steering committee. The task force’s leadership, along with representatives from a broad range of federal agencies, regulatory authorities and inspectors general, will work with state and local partners to investigate and prosecute significant financial crimes, ensure just and effective punishment for those who perpetrate financial crimes, address discrimination in the lending and financial markets and recover proceeds for victims.
Read more on President Obama Establishes Interagency Financial Fraud Enforcement Task Force…
Filed under FBI Releases by Comment. 
Company Pocketed More Than $15 Million From Consumers Last Year, But Almost None Received a Computer
The Federal Trade Commission has asked a federal court to issue a contempt order against BlueHippo, a company that collected more than $15 million from consumers based on claims that it would finance their purchases of new computers, but delivered neither the financing nor the financed computers, in violation of a 2008 court order. The FTC alleged that less than one percent of consumers who signed up with BlueHippo received the financed computers they applied for, and undisclosed conditions to redeem “store credits” were rigged to discourage consumers from using them.
Filed under FTC Releases by Comment.
11/10/2009 FTC Press Release:
Attorney Failed to Turn Over Proceeds from Defendants’ Business Opportunity Involving Sale of Internet Kiosks to Consumers.
The Federal Trade Commission has filed civil contempt charges against an attorney who represented the marketers of an “Internet kiosk” business opportunity that turned out to be nothing more than a Ponzi scheme.
Read more on FTC Files Contempt Charges Against Attorney for Ponzi Scheme Operators…
Filed under FTC Releases by Comment.
