Bill Aims To Beef Up Prosecution Of Wall Street Fraud

Law360, New York (January 22, 2009, 12:00 AM EST) -- A bill proposed Thursday aims to help law enforcement crack down on white collar crime by bolstering the resources available to regulators.

The Supplemental Anti-Fraud Enforcement Markets Act, introduced Thursday by Sen. Charles Schumer, D-N.Y., and Sen. Richard Shelby, R-Ala., would dedicate an additional $110 million annually for the country's top law enforcement agencies to hire hundreds of new investigators and prosecutors for their financial fraud units.

The $110 million would allow for the hiring of 500 new FBI agents, 50 new assistant U.S. attorneys and...
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