AMLAC 2009 Speaker Profile: Rachel Rojas, Supervisory Special Agent, FBI

Rachel Rojas
Supervisory Special Agent
FBI

The Federal Bureau of Investigation was forced to reallocate its manpower in New York to deal with recent frauds involving subprime mortgages, auction-rate securities and Madoff, who prosecutors said confessed this month to bilking investors out of $50 billion, FBI official David Cardona said in an interview.

“We have to work those cases which we think pose the greatest threat,” he said. “In this case, it’s a threat to the financial system and Wall Street.”

Special Agent Rachel Rojas, who once worked on tracing terrorist financing and al-Qaeda, now oversees 15 agents investigating mortgage fraud, said Cardona, a career agent with 23 years at the bureau. He declined to say how many other agents he has reassigned from anti-terror work to financial crimes.

Rojas heads one of two such mortgage-fraud squads that work with federal prosecutors in Brooklyn and Manhattan and other federal agencies.

Bio courtesy of Bloomberg.com

Don't miss Rachel Rojas speak on Understanding the Latest Law Enforcement Initiatives for
Identifying Trends and Preventing Fraud at the AMLAC Conference in NY from October 19-21.

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F.B.I. Watching for TARP and Stimulus Fraud

The New York Times reports that the FBI and other government agencies are working to prevent fraud and corruption related to government bailout money and the economic stimulus package, in what could be the “next wave” of cases in the financial crisis, the F.B.I. director, Robert S. Mueller III, said Tuesday.

“With billions of dollars at stake — from the purchase of troubled assets to improvements in infrastructure, health care, energy and education — even a small percentage of fraud would result in substantial taxpayer losses,” Mr. Mueller said, according to Reuters.

F.B.I. Watching for TARP and Stimulus Fraud

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FBI investing Stanford case

At Forbes, they report that the FBI is asking anyone who invested in the Stanford Financial Group to contact the police. The FBI is asking for names addresses and phone numbers. For more, read this article at Forbes.

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FBI arrests Birmingham, Alabama, mayor

From CNN.com:

The FBI on Monday arrested the mayor of Birmingham, Alabama, on federal charges including conspiracy, bribery, fraud, money laundering and filing false income tax returns.

Larry Langford, 62, is named in an indictment that alleges criminal activity while he was a county commissioner, said U.S. Attorney Alice Martin.

As president of the Jefferson County Commission and head of its department of finance and general services from November 2002 until about November 2006, Langford put his personal affairs ahead of those of the county, Martin said.

"Our investigation has revealed, and the indictment alleges, that Langford sold his public office to his friends and political supporters," Martin said.

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