Word: fraude
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...mess, the biggest financial scandal in U.S. history. But the Dixon case underscored the difficulty of prosecuting complicated financial crimes. The Government took more than three years to build its case against Dixon alone. And U.S. officials have not yet investigated 7,000 more tips about possible fraud at S&Ls. With so many leads and limited resources, the Justice Department may be able to prosecute only the most egregious misdeeds that befell thrifts in the 1980s...
...enormity of Vernon's failure -- 96% of its loans were overdue when the Government took over -- the indictment strikes some critics as tardy and tame. The Justice Department contends that it has been moving as quickly as possible, although last year it left $26 million unspent out of a fraud-fighting budget of $75 million. "These complicated white-collar-crime cases take time to develop," says Attorney General Dick Thornburgh. In north Texas alone, the Government is investigating more than 500 individuals affiliated with 38 different...
...also have violated the law: use of a Senate building for commercial purposes like paid speeches is prohibited by the criminal code. The free limousine service he accepted will probably be regarded as taxable income. Backdating a document related to the sale of his Minneapolis condominium could constitute fraud...
...lending caution reflects a backlash against the era of financial fraud and excess. After the collapse of hundreds of savings and loans, the Government last year barred S&Ls from lending amounts representing more than 15% of their capital to any one customer. The previous limit was 100%, which allowed some S&Ls to sink themselves by committing a dangerously large amount to a single venture. Moreover, federal examiners began using strict new requirements to judge the quality of lending by commercial banks. "When regulators are being tough, bankers too have to be very cautious in terms of the credit...
...same league as his predecessor, Nicolae Ceausescu, the Communist tyrant who posted similar landslides in pro forma balloting. But this was a free election, complete with opposition candidates and Western observers. That must have made Iliescu's victory all the sweeter, despite opposition allegations of ballot-box fraud, voter intimidation and media monopolization by his incumbent National Salvation Front...