The FBI is investigating large corporations that have been involved in the subprime debt market and are warning that their may be corporations charged with fraudulent activities associated with their subprime debt businesses.

There is a fine line between behavior that pushes the legal boundaries and behaviour that crosses the legal boundaries. This industry clearly was pushing the boundaries and the FBI expects that some businesses crossed the boundaries.

The FBI is investigating 19 major corporations with businesses involved in the mortgage industry, especially the subprime market. The FBI is targeting companies ranging from hedge funds, private investment banks, and private equity firms involved in the subprime lending market.

According to Director Mueller, the FBI is investigating accounting fraud, insider trading, deceptive sales practices and other types of fraud. The Senate Appropriations Committee has been demanding that the FBI allocate more resources for investigating mortgage fraud cases.

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