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White Collar-Crime Buster Takes Oath

by Paul Bass | Jul 12, 2010 2:05 pm

(2) Comments | Commenting has been closed | E-mail the Author

Posted to: Legal Writes

Connecticut’s new top federal prosecutor took a formal vow and then made a pledge to crack down on financial crime.

The promises were spoken Monday morning before a crowd of fellow prosecutors past and present, as well as U.S. Attorney General Eric Holder at Yale Law School’s auditorium.

The crowd was gathered for David B. Fein’s “investiture” as Connecticut’s new U.S. Attorney.

Fein was actually sworn into the position May 10. He has been running the New Haven-based office ever since. The “investiture” is a more public, pomp-and-circumstance ceremony for new U.S. attorneys, sort of like the long-speech tribute portion of a bar mitzvah service. (Fein thanked people for driving from out of state, preparing him for this day, and saying so many wonderful things about him.)

As U.S. attorney, Fein oversees the prosecution of federal crimes such as health care fraud, drug trafficking, and money laundering.

In an oath administered by US. District Judge Mark Kravitz, Fein swore to “defend the constitution of the United States” and “faithfully discharge” the duties of his office.

Then, in remarks to the crowd following the oath, Fein promised his office would “aim higher” under his leadership. He spoke specifically about prosecuting white-collar financial crimes.

“Financial fraud has caused and continues to cause so much harm to investors, capital markets, and our nation’s economy,” he said.

On June 17 Fein held a press conference announcing the arrests of 15 people in connection with operating two massive mortgage-fraud operations based on phony sales and appraisals of distressed properties in New Haven and elsewhere around the state. That investigation is ongoing.

Paul Bass Photo In remarks to the gathering Monday morning, Attorney General Holder announced that Fein is “laying the groundwork for a security task force that is set to launch soon.” It would work with other law enforcement agencies to target insider training and abuses by hedge funds.

Fein noted that Fairfield County has the third-highest concentration of hedge funds in the world, after New York and London.

Fein previously worked as a partner at the blue-chip New Haven law firm of Wiggin & Dana since 1997. He also taught at Yale Law School during the time.

He replaces Nora Dannehy, who filled in as temporary chief of the U.S. Attorney’s office for the past two years while simultaneously conducting an investigation into the firing of U.S. attorneys in the last Bush administration. Dannehy will remain as the Connecticut’s office’s deputy under Fein.

Connecticut’s U.S. senators make the recommendation to President Obama about whom to name as U.S. attorney.

Holder was kept off-limits to questions as reporters and photographers were relegated to the law school auditorium balcony. There, 2 1/2-year-old black lab Eliza (pictured with partner Officer Jason Salgado of the New Haven police’s bomb squad) sniffed around for incendiary weapons. Pens were considered safe.

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posted by: Jeffrey Kerekes on July 12, 2010  3:03pm

There is a perfect opportunity for an investigation right here in New Haven.  It appears there was criminal activity by one of our Marshall’s and it was confirmed by an independent auditing firm paid for by the taxpayers.  Then, the Mayor rehired the guy anyways!  There were about eight examples uncovered from an approx 3 month period they investigated while this man was the sole city marshall for 5 years according to new sources.  If the Mayor will tolerate this level of corruption, what else will he tolerate?????

This needs to be investigated immediately and ALL involved need to be prosecuted.

posted by: Cedarhillresident on July 12, 2010  3:52pm

I agree. This city needs to be fully reviewed for how it is ran and Jeffery’s example of the marshal is just the tipping point.

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