New York’s Schneiderman Expands Financial Crimes Unit
Source: Bloomberg News
New York’s Schneiderman Expands Financial Crimes Unit
By Chris Dolmetsch
January 17, 2014 2:56 PM EST
New York Attorney General Eric Schneiderman formed a new unit focused on fighting financial wrongdoing, expanding an existing criminal bureau two years after Governor Andrew Cuomo created a financial regulator with a similar mandate.
Gary Fishman, 44, a former state prosecutor in the Manhattan District Attorney’s Office, will serve as chief of the Criminal Enforcement and Financial Crimes Bureau, an expansion of the existing Criminal Prosecutions Bureau, the attorney general’s office said today in a statement.
“Financial industry leaders who play by the rules deserve a level playing field, and those bad actors who seek to take advantage of their competitors and their neighbors must be stopped and punished,” Schneiderman said in the statement.
New York has intensified market enforcement since the financial crisis. In 2010, Manhattan District Attorney Cyrus Vance Jr. formed a major economic crimes unit, where Fishman was principal deputy chief. This was followed by Cuomo’s 2011 merger of state insurance and banking regulators into a Department of Financial Services under Benjamin Lawsky, a top prosecutor when Cuomo was attorney general.
Read more: http://www.bloomberg.com/news/2014-01-17/new-york-s-schneiderman-expands-financial-crimes-unit.html
