POST Online Media Lite Edition


Justice Department collects more than $15.3 billion in civil and criminal cases

Staff Writer |
Attorney General Loretta E. Lynch said the Justice Department collected more than $15.3 billion in civil and criminal actions in fiscal year (FY) 2016 ending Sept. 30, 2016.

Article continues below

The $15,380,130,434 in collections in FY 2016 represents more than five times the approximately $3 billion appropriated budget for the 94 U.S. Attorneys’ offices and the main litigating divisions of the Justice Department combined in that same period.

Civil collections account for more than $12 billion of the total collected and were from affirmative civil enforcement cases, in which the United States recovered government money lost to fraud or other misconduct or collected fines imposed on individuals and/or corporations for violations of federal health, safety, mortgage, financial, civil rights or environmental laws.

In addition, civil debts were collected on behalf of several federal agencies, including the U.S. Department of Housing and Urban Development (HUD), Health and Human Services, Internal Revenue Service, Small Business Administration and Department of Education.

Among the largest settlements: the $2.96 billion settlement with Goldman Sachs Group (Goldman Sachs), the $2.6 billion settlement with Morgan Stanley & Company (Morgan Stanley), and the $1.2 billion settlement with Wells Fargo Bank, N.A. (Wells Fargo), all of which related to practices arising from residential mortgage lending activities.

In April 2016, the Justice Department announced the settlement with Goldman Sachs related to its conduct in the packaging, securitization, marketing, sale and issuance of residential mortgage backed securities (RMBS) between 2005 and 2007. â– 

What to read next

U.S. Justice Department wants $1bn in assets of Malaysian 1MDB fund
U.S. fines Norway shipper nearly $100m for price-fixing
Charles River Laboratories International to pay $1.8 million