Chapter 33

April’ 2003,
Midtown, Manhattan Borough, NY.

“This is the plot from the last decade showing us the number of cases in each category investigated by the FBI” an officer presented the statistics on the big screen in the meeting room, “it is evident that we see the fraud rate is going up gradually with slight ups and downs especially across corporate, securities and financial investment sectors,” He paused and ran a glance over all the faces attending the conclave inside the room, “Corporate fraud cases have been steadily on high in about twenty three hundred cases annually. In contrast, investigations related to securities fraud spiked up in the recent years, exceeding the mark of the corporate frauds follows the financial crisis. It the creation of a complex investments structure by the corporate companies that is responsible for the inhibition of creating preventive measures. As a consequence, the early detection of such frauds has become strenuous for the securities and exchange commission lately.”

“Corporate fraud cases are one of a kind in the fraud schemes practiced by the companies, they involve accounting schemes designed to deceive the investors, shareholders, auditors and others regarding the financial status of the company. The restitution orders lying under our belt will sum up to more than a billion dollars spanning victims from individual investors to private or public firms. That proclaims and demonstrates the scale of losses for the victims” The officer belched mildly and continued, “The bureaucracy prospects that we leave no stones unreturned. Our department is with the stipulation to back our knacks in the light of not only in the perusal of fault representation of companies’ financial conditions but also in the inquests of the allegations involving insider trading,” He said, “We should have absolute intelligence in scanning profusion of cabals comprising financial intermediaries’ or board directors, auditors, who are predisposed to blow the gaff on the classified data deets”.

“To evince and substantiate the truth, yet again we have got another case in the same. The details of the CFO of the company were all faxed to the senior officer from the Advisory committee in SEC (Securities and Exchange Commission). We should be taking a lead over the case by tomorrow late mornings,” the man nearing dotage communicated with the in-crowd personnel, “That’s it for the meet. You may wish to leave now, if there are no questions”.

“Chief, How about the apprising from the central govt.?” the captain asked.

“We are yet to receive it,” He replied, “we should be getting it by tomorrow morning and then we are authorised to carry on with the proceedings,”

“Alright! I will talk to the Sheriff,” The commander said and took leave.

Deputy Chief stepped in, “Also, look into the letter rogatory, it should be sent through the competent court under the provisions of 166-A of criminal procedure code. It may be necessary to conduct investigation abroad through Interpol and diplomatic channels; we need this letter of request.”