Obama wants more money for Justice Dept. to fight fraud cases

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Obama wants more money for Justice Dept. to fight fraud cases

February 3rd, 2010 joshua

President Barack Obama is asking for a 23 percent increase in the Dept. of Justice budget for 2011, specifically to combat financial fraud.

Most of the $96.8 million increase in spending would go to hiring more FBI agents, prosecutors, civil litigators and bankruptcy attorneys, according to a Reuters report.

Obama has squared-off with leaders on Capitol Hill in the creation of a regulatory agency charged with eliminating consumer fraud.

“These resources will enable the Department to aggressively pursue traditional law enforcement and litigation activities ranging from mortgage fraud, corporate fraud, and other economic crimes,” the Justice Department said in a statement.

According to the report, Atty. General Eric Holder said the Justice Dept. was currently investigating 5,000 cases involving fraud with financial institutions and another 2,800 cases of mortgage fraud was under the FBI’s eye.

Additionally, the Dept. of Health and Human Services has requested an extra $60 million to investigate healthcare fraud.

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