by Alexandra Andrews, ProPublica
Looking for a new job? Mortgage scammers have found a lucrative market in New York City: Prosecutors there tell the New York Times that mortgage fraud runs little risk of arrest while raking in big rewards. Officials at several New York district attorneys’ offices acknowledge that many fraud cases evade prosecution, “saying they lack the staff to investigate and prosecute more than a fraction of the potential deed-theft and mortgage-fraud cases.”
Also, in a well-timed story, ABC News reports that IRS coffers are vulnerable to thieving employees. The GAO faulted the security of the IRS’ lockbox system in 2003, but since then, ABC News found “case after case of checks stolen, manipulated and cashed by contract employees responsible for processing them.” The Treasury Inspector General for Tax Administration said IRS employee integrity cases make up more than half of his office’s investigations, and it refers cases for prosecution or administrative sanction when necessary.
Republished with permission by ProPublica.org