FBI nets 400 players in mortgage-fraud cases:

06/20/2008 | Los Angeles Times (tiered subscription model)

Brokers, appraisers, bankers and lenders are among the more than 400 industry players charged since March in a criminal investigation into mortgage fraud, the Justice Department said. FBI officials said the charges focused on individual cases and smaller crime rings. Investigators are also probing investment banks and hedge funds that may have committed accounting fraud or other crimes related to mortgage securities. The FBI said victims of mortgage fraud lost more than $1 billion.

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