A new report shows criminal prosecutions for financial crimes have dramatically decreased in recent years even in the aftermath of the 2008 crisis and massive wrongdoing along Wall Street.
The report, by the Transactional Records Access Clearinghouse at Syracuse University, shows that 1,251 prosecutions were filed during the first 11 months of the last fiscal year. That total would represent an almost 30 percent decrease from five years ago and less than half from 10 years ago. This bar graph displays a disturbing trend, especially given the Department of Justice’s reticence to go after major players in the financial crisis.
It also breaks down prosecutions by the most active U.S. Attorney’s offices. The Southern District of Florida (Miami) filed the most cases this year with 84, followed by the Southern District of New York (Manhattan) with 71, and the Western District of Washington (Seattle) with 50.
