Fraud Seen at 60% of Failed S&Ls;:...
From Times Staff and Wire Service Reports
Fraud Seen at 60% of Failed S&Ls;: L. William Seidman, chairman of the Federal Deposit Insurance Corp. and the Resolution Trust Corp., estimated that “serious criminal activity” took place at 60% of the more than 300 seized S&Ls.; He told a House Ways and Means oversight subcommittee hearing that a special “fraud squad” has been formed to prosecute culprits.