A review of recent information and current and historical data supports the prediction of the increase of federal white-collar investigations and prosecutions.
As the $2 trillion stimulus package enters the economy, the U.S. Department of Justice and United States Attorneys’ Offices are prioritizing the investigation and prosecution of COVID-19 related fraud schemes.
Syracuse University’s Transactional Records Access Clearinghouse (TRAC) reports that while overall federal prosecutions are up 25 percent from five years ago, white-collar prosecutions are down almost 30 percent.
Looking back more than a decade ago, federal spending in the aftermath of Katrina was approximately $120 billion. Federal prosecutions resulting from Katrina-related fraud exceeded 1,300. To put these numbers in perspective, Katrina federal spending was only 6 percent of the current stimulus package.
Given the current prioritization of COVID-19 prosecutions, the historical downward trend of white-collar prosecutions and the number of the prosecutions post Hurricane Katrina, there will be an increase in the number of federal white-collar prosecutions.
Please contact former U.S. Attorneys Harry Rosenberg, A. Brian Albritton or Walt Green if you have any questions regarding this white-collar/government investigations update.