The Federal Bureau of Investigation said that it is investigating 14 companies for possible insider trading or fraud in connection with subprime loans made to risky borrowers and subprime related investments.
The FBI did not identify the companies under investigation but it is widely believed that the probe involves companies in all sectors including mortgage lenders to Wall Street banks that securities and sold subprime related investments to the investing public.
The FBI is also working with the Securities and Exchange Commission.
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