By Allan Lengel
ticklethewire.com
Since the year 2000, the government has only collected about two cents on the dollar from hundreds of the nation’s biggest swindlers who were fined by federal judges, USA Today reports.
A USA Today reported that its analysis of Justice Department records shows the difficulty of the Justice Department collecting fines from scam artists who profited from the housing and financial crises.
“A vast number of these cases … there will never be any money collected,” Ray Hassett, a Connecticut lawyer who used to supervise collection efforts for the U.S. attorney’s office there said, according to USA Today.
The paper examined 258 cases since 2000 in which judges ordered a criminal to pay $25 million in fines or more. Some some thieves paid what amounted to less than a speeding ticket, USA Today reported.
The paper reported that the biggest judgments totaled about $30 billion, the Justice Department has only collected about $660 million so far.
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