“I am regretfully increasingly convinced that the federal government and the federal system of justice has somewhat retrogressed over the past couple of decades in its prosecution of fraud, or at least in its prosecution of fraud when it’s perpetrated by people at the highest levels of the financial establishment,” said Rakoff, who received the Cressey Award from the ACFE. “And I have to further add that the federal courts have played a role in this regard in erecting unnecessary barriers to the successful prosecution of fraud at these levels.”
via Judge Rakoff Sees Resistance to Fraud Prosecutions — Accounting Today