SEC Destroys 9,000 Fraud Files Involving Wells Fargo, Bank of America, Citigroup, Deutsche BankSubmitted by bobbyw24 on Wed, 08/17/2011 - 20:35
SEC Destroys 9,000 Fraud Files Involving Wells Fargo, Bank of America, Citigroup, Goldman Sachs, Credit Suisse, Deutsche Bank, Morgan Stanley, Lehman
Senator Chuck Grassley, Republican of Iowa, says SEC may have destroyed documents
“From what I’ve seen, it looks as if the SEC might have sanctioned some level of case-related document destruction,” said Sen. Chuck Grassley, Republican of Iowa, in a letter to the agency’s chairman, Mary Schapiro.
“It doesn’t make sense that an agency responsible for investigations would want to get rid of potential evidence. If these charges are true, the agency needs to explain why it destroyed documents, how many documents it destroyed over what timeframe, and to what extent its actions were consistent with the law.”