US Federal Prosecutors are the front line of defense for the American public. Without adequate numbers and experienced prosecutors in the US Attorney Offices we will not have successful prosecution of criminal activity in the USA. Crimes are either not investigated or given too few investigatory resources, prosecutions are not pursued because evidence is not followed through on and quality of investigatory and prosecution efforts is decreased when there are not sufficient funds available.
Support Senate Bill S-596
Federal AUSA Attorneys are on the front lines of stopping financial fraud, the criminal division investigates fraud, internet criminal activity, identity fraud and also RICO (Raketeering, Influenced Corrupt Organizations). Mindful of the ease with which criminals establish “front organizations” to assist in money laundering, terrorist financing, tax evasion and other misconduct, it is shocking and unacceptable that many state laws permit the creation of corporations without asking for the identity of the corporation’s beneficial owners. The Senate bill S. 596 will guard against that, and no longer permit criminals to exploit the lack of transparency in the registration of corporations. It also will create a critical information gathering tool by giving law enforcement authorities access to the true identity of the owners behind certain corporations suspected of criminal acts, without unduly intruding upon individual privacy.
Also Support Senate Bill S-331
S. 331 A bill to increase the number of Federal law enforcement officials investigating and prosecuting financial fraud. by Senator Charles Schumer
January 27, 2009
SECTION 1. SHORT TITLE. This Act may be cited as the `Supplemental Anti-Fraud Enforcement for our Market Act' or the `SAFE Markets Act'. SEC. 2. FINDINGS. Congress finds the following: (1) A critical part of solving our current financial crisis, and preventing future debacles, is to bring to justice those who caused it through fraudulent acts. (2) However, law enforcement resources directed to financial fraud have been severely diminished in the last several years. Recent reports indicate that the FBI's staffing for white collar crimes such as mortgage fraud has decreased by 36 percent from 2001 levels, with a loss of 625 agents. The number of Assistant United States Attorneys has increased between .5 and 1 percent per year in recent years, but virtually all new prosecutors have been dedicated to fighting gang, internet, and immigration crimes, and some offices have been subjected to hiring freezes. In addition, the budget of the Securities and Exchange Commission has remained static for 3 years until Congress increased its appropriations by 4 percent for 2009. (3) In the wake of the Savings and Loan crisis of the 1980s, a series of strike forces based in 27 cities was staffed with 1000 FBI agents and forensic experts and dozens of federal prosecutors. That effort yielded more than 600 convictions and $130,000,000 in ordered restitution. (4) This authorization will bring FBI and prosecutorial staffing up to the levels that are necessary to investigate and prosecute complex financial crimes. Only through effective law enforcement can we restore worldwide faith in American markets. SEC. 3. ADDITIONAL LAW ENFORCEMENT. (a) Additional Employees for the Federal Bureau of Investigation- The Director of the Federal Bureau of Investigation is authorized to hire an additional 500 agents who shall be dedicated to investigating violations of the law relating to the United States financial markets. (b) Additional Employees for the Department of Justice- The Attorney General is authorized to hire an additional 50 Assistant United States Attorneys who shall be dedicated to prosecuting violations of the law relating to the United States financial markets. (c) Additional Employees for the Securities and Exchange Commission, Division of Enforcement- The Securities and Exchange Commission is authorized to hire 100 additional enforcement staff members who shall be dedicated to prosecuting violations of the law relating to the United States financial markets. SEC. 4. AUTHORIZATION. There are authorized to be appropriated to carry out this Act $110,000,000 for fiscal year 2009.