Newsday reports that federal prosecutions of white-collar crime and securities fraud have dropped off from higher levels earlier in the decade, largely because US attorney’s offices in New York are understaffed:
One reason for the drop, although prosecutions have picked up in recent months, may be staffing shortages and unfilled lawyer jobs in the U.S. Attorney’s offices based in Brooklyn and Manhattan, according to a recent Department of Justice Office of Inspector General report. Another reason may be a drop in recent years in referrals for white-collar crime prosecution from federal agencies…
The audit, which was released late last year and covered all 94 federal districts, showed unfilled staff positions in local federal prosecutors’ offices between fiscal years 2002 and 2007…
“This underutilization occurred primarily because (prosecutors) had limited budgets to address annual rising costs, such as cost-of-living adjustments and increases in rent,” said the report. “As a result, (federal) officials said (prosecutors) did not have adequate funds remaining to fill vacant positions.”
Via Newsday.