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In addition, before these companies’ stocks rapidly declined in value, executives with insider information sold their equity positions and profited illegally. However, the current financial crisis resulted in the exposure of several large Ponzi schemes perpetrated not on an individual community level, but on a corporate national level by executives of what were once considered legitimate investment brokerages, i.e., Bernard L. Corporate fraud remains the highest priority of the Financial Crimes Section and the FBI is committed to dealing with this significant crime problem.

The Health Care Fraud Unit oversees investigations targeting individuals and/or organizations who are defrauding public and private health care systems.

Areas investigated under health care fraud include: billing for services not rendered, billing for a higher reimbursable service than performed (upcoding), performing unnecessary services, kickbacks, unbundling of tests and services to generate higher fees, durable medical equipment fraud, pharmaceutical drug diversion, outpatient surgery fraud, and Internet pharmacy sales.

As publicly traded companies suffered financial difficulties due to sub-prime market, analyses of company financials have identified instances of false accounting entries, and fraudulently inflated assets and revenues. In addition to the sub-prime market issue, corporate fraud matters involving seal-dealing by corporate executives, particularly utilizing companies to perpetrate large scale Ponzi fraud schemes, continue to be an issue of concern.

The Economic Crimes Unit is responsible for significant frauds targeted against individuals, businesses, and industries to include: corporate fraud, insurance fraud (non-health care related), securities and commodities fraud, mass marketing fraud, telemarketing fraud, high yield investment schemes, Ponzi schemes, advance fees schemes, and pyramid schemes.

As the lead agency investigating corporate fraud, the FBI has focused its efforts on cases which involve accounting schemes, self-dealing by corporate executives, and obstruction of justice.

The majority of corporate fraud cases pursued by the FBI involve accounting schemes designed to deceive investors, auditors, and analysts about the true financial condition of a corporation.

S., several of which involve losses to public investors that individually exceed $1 billion.(3) Obstruction of justice designed to conceal any of the above-noted types of criminal conduct, particularly when the obstruction impedes the inquiries of the SEC, other regulatory agencies, and/or law enforcement agencies.