Preet Bharara: Fraud Charges Pending Against Big Financial Institution

The US Attorney for the Southern District of New York, Preet Bharara, indicated today that criminal charges may be pending against a major Wall Street financial institution. Charging the institution and not individuals “You can expect that before long a significant financial institution will be changed with a felony or be made to plead guilty to a felony,” the Twitter account of the Southern District of New York (@SDNYnews) posted. Hesitation to investigate and much less prosecute financial firms The US Department of Justice has long been hesitant to prosecute Wall Street financial institutions for fear it could lead to…