FBI is proactive in preventing TARP fraud

Addressing the Economic Club of New York on Tuesday Director of FBI Robert Mueller said that the FBI along with other U.S. agencies were working to prevent wrongdoing related to the government bailout money and the economic stimulus package.

Mueller also said the agency was shifting resources in New York to combat white-collar crime. He noted that the agency had 1,300 securities fraud cases, including many Ponzi schemes.

Muller said the FBI has been bracing for a wave of fraud and corruption cases stemming from the government`s multitrillion-dollar effort to stimulate the economy and help ailing banks, and they wanted to follow the money all the way down the line.