Feds charge hundreds in fraudulent investment schemes

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In an effort to bring attention to the problem of investment fraud, federal authorities on Monday highlighted hundreds of cases where defendants accused of financial wrongdoing had been arrested, charged criminally or sentenced to lengthy prison terms.

A press conference headlined by Attorney General Eric H. Holder, authorities unveiled “Operation Broken Trust,” a collection of largely unrelated criminal and civil cases involving Ponzi schemes, foreign currency frauds, investment scams and other market cons.

The announcement drew attention to President Obama’s Financial Fraud Enforcement Task Force, a group of agencies working to hold accountable people and companies accused of financial wrongdoing during difficult economic times. The task force has struggled to pursue high-profile prosecutions connected to the financial crisis of 2007-2009.

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