WASHINGTON — A nationwide law enforcement crackdown targeting financial fraud has led to cases against 343 criminal defendants involving $8.3 billion in estimated losses, Attorney General Eric Holder announced Monday.
“Operation Broken Trust” is the first national effort of its kind aimed at a broad array of investment fraud schemes, and the 3 1/2-month campaign was organized by the Obama administration’s Financial Fraud Enforcement Task Force.
The schemes uncovered highlight “the pervasiveness of the threat,” Shawn Henry, the FBI’s executive assistant director, said at a news conference.
Colorado cases investigated by the task force include allegations of frauds perpetrated by defendants Shawn Merriman, Christine Thompson, father- son duo Philip R. Lochmiller Sr. and Jr. with colleague Shawnee Carver, and American Vending.
Other cases included an oil and gas investment Ponzi scheme in Texas that defrauded 7,700 investors of more than $485 million.
