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Tuesday, September 23, 2008

AIG, Fannie Mae, Freddie Mac and Lehman Investigated By FBI For Fraud

Breaking news shows the Federal Bureau of Investigation (FBI) is investigating the financial institutions which have triggered the $700 billion bailout plan.

Associated Press is reporting the FBI is investigating Fannie Mae and Freddie Mac, Lehman Brothers Holdings Inc., and insurer American International Group Inc., (AIG) for potential fraud.

Details are sketchy but these investigations will bring the total of corporate lenders under investigation to 26.

[Update] Another Associated Press article says a senior law enforcement official spoke on condition of anonymity because the investigations are in the early stages.

They have received no public comments from the spokes people for the financial groups at this time.

Just last week, FBI Director Robert Mueller put the number of large financial firms under investigation at 24. He did not name any of the companies under investigation but said the FBI also is looking at whether any of them have misrepresented their assets.