The Justice Department and FBI have quietly acknowledged they grossly overstated the scope of a mortgage fraud crackdown, which the administration heralded with much fanfare a few weeks before last year’s presidential election.
Attorney General Eric Holder and other law enforcement officials claimed in early October that the initiative charged 530 criminal defendants on behalf of 73,000 victims who suffered over $1 billion in losses. The so-called Distressed Homeowner Initiative, which targeted fraud schemes against distressed homeowners, was highlighted in a press release and press conference at the time…”a groundbreaking, year-long mortgage fraud enforcement effort.”
The real numbers, it turns out, were far smaller. The feds now admit that the number of criminal defendants charged was more like 107, not 530. The number of victims was 17,185…roughly one fourth the size of the original headcount. And the losses totaled $95 million[,] not $1 billion….
Once again, a dishonest Attorney General is caught out in his lies. Once again, a dishonest Attorney General is caught out, not only in his failure to do his duty, but in a violation of his oath of office.
Why is Holder still in place? On what is Congress waiting? Oh, wait….