DOJ Warns Of Coming Criminal Cases Over Financial Crisis

Law360, New York (March 6, 2012, 6:39 PM EST) -- The U.S. Department of Justice expects to soon bring criminal charges against banks and individuals who created and sold risky mortgage-backed securities and committed other corporate crimes that exacerbated the economic crisis, Attorney General Eric Holder said Tuesday.

During a meeting of the National Association of Attorneys General, Holder said the DOJ has recently subpoenaed at least 11 financial institutions for information related to their issuance of mortgage-backed securities and he expects those investigations to produce prosecutions in the coming months.

In recent regulatory filings, Citigroup...
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