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Criminal
Investigations Bureau Accomplishments
In 2001, the Department's
Criminal Investigations Bureau (CIB) was involved in the levying
of monetary penalties in excess of $9 million. CIB demonstrated
its commitment to the thorough investigation of all criminal allegations
involving the State's financial industry, as well as identifying
possible victims and future criminal trends. CIB continued to assist
federal, state, and local law enforcement agencies throughout the
country with investigations involving money laundering, mortgage
fraud, predatory lending, and other banking and financial violations.
After the terrorist attacks, CIB began working with the FBI Terrorist
Task Force to identify and freeze terrorist funds within and outside
the United States.
Highlights:
- A joint investigation
by CIB and the Internal Revenue Service led to the indictment
of a mortgage company president and co-conspirators on several
counts of mortgage fraud for knowingly executing a scheme to defraud
consumers and financial institutions.
- CIB participated
in hearings that resulted in license revocation for two mortgage
companies for forged documents and failure to comply with New
York State Banking Law.
- CIB, along with
the Mortgage Banking Division, worked with the State Attorney
General to investigate a mortgage company that was misleading
customers. The license was surrendered and over one million dollars
in restitution was made to consumers.
- CIB investigation
led to monetary penalties and convictions from two financial institutions
for falsifying bank records and misapplying bank funds.
- Through the efforts
of CIB, the Department became the first state agency to electronically
transmit civilian fingerprints to the Division of Criminal Justice
Services.
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