The government-created headlines always sound so impressive.
These particular press releases from federal prosecutors carried the DOJ's special green seal, telling you these cases are part of President Obama's Financial Fraud Enforcement Task Force, which is waging "an aggressive, coordinated and proactive effort to investigate and prosecute financial crimes."
So who were the big fish fried by the feds? Two mopes with public defenders.
Take for example that man in the "multimillion dollar investment fraud" touted by U.S. Attorney Melinda Haag's office. The fraudster, Krittibas Ray, copped to taking $3.3 million from a couple dozen investors, promising an 8 percent return after he put the money in banks in India. Instead, he robbed Peter to Paul, giving other investors the cash, and pocketed some for personal use.
Sucks for the victims. But not exactly Raj Rajaratnam.
Assistant Federal Public Defender Elizabeth Falk struck a deal on his behalf.
Also adding to the Financial Fraud Enforcement stats, there's the case of now admitted fraudster, Maurice Michael McCant, who promised to promote rap concerts with $1 million he got 10 people to hand over. Instead, he paid down his mortgages.
McCant -- who once said he was contemplating producing a movie about the life of the founder of Death Row records -- pleaded out with the help of Assistant Federal Public Defender Steven Kalar.
I guess we know what cases are not driving business for the local white collar defense bar.