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Such acts are committed by individuals and organizations to obtain personal or business advantage.The FBI focuses its financial crimes investigations on such criminal activities as corporate fraud, health care fraud, mortgage fraud, identity theft, insurance fraud, mass marketing fraud, and money laundering.
The benefit to the options holder is the difference between the strike price and the later sales price.
When stock options are backdated, however, the date of the options is set to a time in the past when the price of the stock was lower than on the date the options were actually issued.
In addition to significant financial losses to investors, Corporate Fraud has the potential to cause immeasurable damage to the U. Stock options are corporate incentives that allow the holder to purchase stock at a fixed “strike” price sometime in the future, regardless of the prevailing market price.
Generally, the strike price is the cost of the stock on the date the options were granted.
These organizations have been able to provide referrals for expert witnesses and other technical assistance regarding accounting and securities issues.
In addition, the Financial Crimes Enforcement Network (Fin CEN) and Dunn & Bradstreet have been able to provide significant background information on subject individuals or subject companies in an investigation.
During FY 2006, the FBI investigated 490 Corporate Fraud cases resulting in 171 indictments and 124 convictions of corporate criminals.
Numerous cases are pending plea agreements and trials.
Although the FSP’s mission is closely tied to that of the AF/MLU, it does have a separate mission statement which is documented as follows: The mission of the FSP is to support the forfeiture component of all major FBI investigations through data entry and analysis of financial documents, forensic accounting, and tracing assets subject to forfeiture.
Based upon field office crime surveys, current trends in the White Collar Crime arena, and directives established by the President, the Attorney General, and the Criminal Investigative Division, the following national priorities for the White Collar Crime Program have been established: Public Corruption, Corporate Fraud/Securities Fraud, Health Care Fraud, Financial Institution Fraud, Insurance Fraud and Money Laundering.
Although Public Corruption is a national priority within the White Collar Crime Program, it will not be addressed in this report.