Federal Authorities in Connecticut Go After Investment Fraud

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By JOHN CHRISTOFFERSEN, Associated Press

NEW HAVEN, Conn.(AP) _ The top federal prosecutor in Connecticut has vowed to use aggressive investigative techniques traditionally deployed against organized crime to root out financial fraud.

U.S. Attorney David Fein said Monday investigators would use informants, wire taps and computer surveillance as it steps up investigations of investor fraud with a new task force. Fein says the effort has already resulted in prosecutions of 11 defendants in recent months charged with shemes that resulted in the theft of more than $56 million from more than 200 investors.

Fein says the task force is actively investigating insider trading, market manipulation, Ponzi schemes, embezzlement and other issues.

Fein announced Connecticut’s role in “Operation Broken Trust,” a nationwide initiative targeting investment fraud.

(Copyright 2010 by The Associated Press.  All Rights Reserved.)

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