Judiciary Report - FBI Investigating Washington Mutual

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FBI Investigating Washington Mutual Executives

October 20. 2008

Robert Mueller photo courtesy of the New York Times

This is a follow up to my September 29. 2008 article Washington Mutual Collapses Seized By Government where I wrote the FBI is investigating Kerry Killinger, the fired CEO of financially pimp slapped bank Washington Mutual.

Um, turns out they hadn't announced that yet (whoops), but now they have. The FBI and the U.S. attorney's office for Washington announced on October 17. 2008, that they are investigating, "The activities of the bank, its leaders and others to determine if any federal laws were violated.”

Washington Mutual’s Failure Under FBI Scrutiny

October 17, 2008 - Federal authorities are trying to figure out the reason behind the collapse of Washington Mutual Inc. (WaMu). It is investigating the causes which led to the banking operations being sold to JPMorgan Chase and Co. last month.

A task force has been created by the office of U.S. Attorney Jeffrey Sullivan. This team has investigators from the Federal Bureau of Investigation (FBI), the Federal Deposit Insurance Corp., the Securities and Exchange Commission and the Internal Revenue Service.

Sullivan said, “Due to the intense public interest in the failure of Washington Mutual, I want to assure our community that federal law enforcement is examining activities at the bank to determine if any federal laws were violated.”

“Given the significant losses to investors, employees, and our community, it is fully appropriate that we scrutinize the activities of the bank, its leaders, and others to determine if any federal laws were violated”, added Sullivan.

http://www.themoneytimes.com