DOJ Ends WaMu Probe With No Criminal Charges

Law360, New York (August 5, 2011, 9:50 PM EDT) -- The U.S. Department of Justice on Friday closed its investigation of Washington Mutual Inc. without filing any criminal charges against former executives in connection with the bank's 2008 collapse.

The DOJ said it would continue to cooperate with the Federal Deposit Insurance Corp., which has a pending lawsuit against three former WaMu executives accused of bankrupting the bank for their own benefit.

Prosecutors in the U.S. Attorney's Office for the Western District of Washington opened the investigation in October 2008 in order to determine whether bank...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.