Justice Department to Shed Light on Rising Cases of Investment Fraud

Steve Neavling

The rise of investment fraud cases in the sluggish economy has prompted the Justice Department to begin holding summits to warn investors of scams, the Associated Press reports.

The first conference is scheduled for Oct. 1 in Connecticut, followed by summits later in the month in Miami, Denver, San Francisco, Cleveland and Nashville, according to the AP.

“We see it as a growing problem. We see it as a serious problem,” Connecticut U.S. Attorney David Fein told the AP.

In the past two years, federal prosecutors reported $20 billion in fraud from 500 cases involving 800 defendants, the AP reported.

Included in the conferences will be FBI agents and top federal prosecutors.

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